Hong Kong SAR, China: Apple Market 2023

Apple Market Size in Hong Kong SAR, China

The Hong Kong apple market amounted to $X in 2021, picking up by 11% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption continues to indicate a remarkable increase. Apple consumption peaked in 2021 and is expected to retain growth in the near future.

Apple Exports

Exports from Hong Kong SAR, China

In 2021, approx. X tons of apples were exported from Hong Kong SAR; picking up by 3.5% on 2020. In general, exports, however, saw a deep reduction. The most prominent rate of growth was recorded in 2019 with an increase of 77% against the previous year. As a result, the exports attained the peak of X tons. From 2020 to 2021, the growth of the exports remained at a lower figure.

In value terms, apple exports surged to $X in 2021. Overall, exports, however, recorded a mild decrease. The most prominent rate of growth was recorded in 2019 when exports increased by 98%. As a result, the exports attained the peak of $X. From 2020 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

China (X tons) was the main destination for apple exports from Hong Kong SAR, accounting for a 98% share of total exports. It was followed by Macao SAR (X tons), with a 1.6% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to China amounted to -5.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Macao SAR (-3.7% per year) and Vietnam (-43.0% per year).

In value terms, China ($X) remains the key foreign market for apples exports from Hong Kong SAR, comprising 97% of total exports. The second position in the ranking was taken by Macao SAR ($X), with a 2.4% share of total exports.

From 2012 to 2021, the average annual growth rate of value to China amounted to -1.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Macao SAR (+1.3% per year) and Vietnam (-27.9% per year).

Export Prices by Country

The average apple export price stood at $X per ton in 2021, growing by 28% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.4%. The pace of growth appeared the most rapid in 2014 an increase of 65%. The export price peaked in 2021 and is likely to see steady growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while the average price for exports to China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (+26.5%), while the prices for the other major destinations experienced more modest paces of growth.

Apple Imports

Imports into Hong Kong SAR, China

In 2021, approx. X tons of apples were imported into Hong Kong SAR; increasing by 2.9% compared with 2020 figures. The total import volume increased at an average annual rate of +3.4% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2015 when imports increased by 30% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, apple imports rose markedly to $X in 2021. Overall, total imports indicated noticeable growth from 2012 to 2021: its value increased at an average annual rate of +4.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -6.8% against 2019 indices. The most prominent rate of growth was recorded in 2019 when imports increased by 27%. As a result, imports attained the peak of $X. From 2020 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) constituted the largest apple supplier to Hong Kong SAR, accounting for a 56% share of total imports. Moreover, apple imports from China exceeded the figures recorded by the second-largest supplier, New Zealand (X tons), threefold. The third position in this ranking was held by the United States (X tons), with a 9.9% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +14.0%. The remaining supplying countries recorded the following average annual rates of imports growth: New Zealand (+7.9% per year) and the United States (-12.2% per year).

In value terms, China ($X), New Zealand ($X) and Japan ($X) constituted the largest apple suppliers to Hong Kong SAR, with a combined 78% share of total imports.

In terms of the main suppliers, Japan, with a CAGR of +21.4%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average apple import price stood at $X per ton in 2021, with an increase of 8.6% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.3%. The growth pace was the most rapid in 2019 an increase of 13%. Over the period under review, average import prices hit record highs in 2021 and is likely to see steady growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by New Zealand (+5.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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