Hong Kong SAR, China: Canned Meat Market 2024

Canned Meat Market Size in Hong Kong SAR, China

The Hong Kong canned meat market contracted significantly to $X in 2022, declining by X% 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). Overall, consumption showed a noticeable descent. Canned meat consumption peaked at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Canned Meat Exports

Exports from Hong Kong SAR, China

After two years of decline, shipments abroad of canned meat increased by X% to X tons in 2022. Over the period under review, exports, however, saw a abrupt shrinkage. The pace of growth appeared the most rapid in 2018 with an increase of X%. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, canned meat exports reached $X in 2022. Overall, exports, however, recorded a abrupt decline. The growth pace was the most rapid in 2019 with an increase of X% against the previous year. As a result, the exports reached the peak of $X. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Taiwan (Chinese) (X tons), Macao SAR (X tons) and Vietnam (X tons) were the main destinations of canned meat exports from Hong Kong SAR, with a combined X% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Taiwan (Chinese) (with a CAGR of X%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, the largest markets for canned meat exported from Hong Kong SAR were Macao SAR ($X), Taiwan (Chinese) ($X) and Vietnam ($X), with a combined X% share of total exports.

Taiwan (Chinese), with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2022, the average canned meat export price amounted to $X per ton, shrinking by X% against the previous year. Over the period under review, the export price, however, showed prominent growth. The pace of growth appeared the most rapid in 2017 when the average export price increased by X%. The export price peaked at $X per ton in 2021, and then dropped remarkably in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Macao SAR ($X per ton), while the average price for exports to Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (X%), while the prices for the other major destinations experienced more modest paces of growth.

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Canned Meat Imports

Imports into Hong Kong SAR, China

In 2022, the amount of canned meat imported into Hong Kong SAR shrank to X tons, which is down by X% compared with the previous year's figure. Over the period under review, imports continue to indicate a drastic downturn. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, canned meat imports dropped to $X in 2022. In general, imports saw a pronounced setback. The most prominent rate of growth was recorded in 2013 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest canned meat supplier to Hong Kong SAR, accounting for a X% share of total imports. Moreover, canned meat imports from China exceeded the figures recorded by the second-largest supplier, Brazil (X tons), sevenfold. India (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (X% per year) and India (X% per year).

In value terms, China ($X) constituted the largest supplier of canned meat to Hong Kong SAR, comprising X% of total imports. The second position in the ranking was taken by Thailand ($X), with an X% share of total imports. It was followed by India, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (X% per year) and India (X% per year).

Import Prices by Country

In 2022, the average canned meat import price amounted to $X per ton, with an increase of X% against the previous year. Overall, import price indicated prominent growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, canned meat import price increased by X% against 2015 indices. The most prominent rate of growth was recorded in 2021 an increase of X%. The import price peaked in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Italy ($X per ton), while the price for Poland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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