Hong Kong SAR, China: Cigars And Cigarillos Market 2024

Cigars And Cigarillos Market Size in Hong Kong SAR, China

The Hong Kong cigars and cigarillos market skyrocketed to $X in 2022, picking up by X% against the previous year. In general, the total consumption indicated a prominent expansion from 2012 to 2022: its value 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, consumption increased by X% against 2015 indices. Over the period under review, the market reached the peak level in 2022 and is likely to continue growth in the immediate term.

Cigars And Cigarillos Production in Hong Kong SAR, China

In value terms, cigars and cigarillos production contracted slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2022, production growth failed to regain momentum.

Cigars And Cigarillos Exports

Exports from Hong Kong SAR, China

In 2022, approx. X tons of cigars, cheroots and cigarillos were exported from Hong Kong SAR; shrinking by X% against the previous year. Over the period under review, exports showed a deep slump. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, cigars and cigarillos exports shrank notably to $X in 2022. In general, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by X%. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

Macao SAR (X tons), China (X tons) and Taiwan (Chinese) (X tons) were the main destinations of cigars and cigarillos exports from Hong Kong SAR, with a combined X% share of total exports. Vietnam, Australia, Singapore, Serbia, Switzerland, Malaysia, South Korea and Japan lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for Serbia (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for cigars and cigarillos exported from Hong Kong SAR were Macao SAR ($X), China ($X) and Taiwan (Chinese) ($X), with a combined X% share of total exports. Vietnam, Australia, Singapore, Malaysia, Switzerland, Japan, South Korea and Serbia lagged somewhat behind, together comprising a further X%.

In terms of the main countries of destination, Serbia, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average cigars and cigarillos export price stood at $X per ton in 2022, surging by X% against the previous year. Overall, the export price showed a resilient increase. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Malaysia ($X per ton), while the average price for exports to Serbia ($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.

Cigars And Cigarillos Imports

Imports into Hong Kong SAR, China

In 2022, overseas purchases of cigars, cheroots and cigarillos increased by X% to X tons, rising for the second consecutive year after two years of decline. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, cigars and cigarillos imports rose notably to $X in 2022. Over the period under review, total imports indicated a measured increase from 2012 to 2022: its value 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, imports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2014 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

Spain (X tons), Cuba (X tons) and Nicaragua (X tons) were the main suppliers of cigars and cigarillos imports to Hong Kong SAR, with a combined X% share of total imports. Switzerland, the Dominican Republic, Honduras, Vietnam, the Netherlands, Germany, the United Arab Emirates, the United States, Slovakia and Belgium lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for Slovakia (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Cuba ($X), Spain ($X) and Switzerland ($X) appeared to be the largest cigars and cigarillos suppliers to Hong Kong SAR, with a combined X% share of total imports. The Netherlands, Nicaragua, the Dominican Republic, the United Arab Emirates, Vietnam, Germany, Honduras, the United States, Slovakia and Belgium lagged somewhat behind, together accounting for a further X%.

Slovakia, with a CAGR of X%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average cigars and cigarillos import price amounted to $X per ton, growing by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The growth pace was the most rapid in 2014 when the average import price increased by X% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

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 Switzerland ($X per ton), while the price for Honduras ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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