Hong Kong SAR, China: Dried Grapes Market 2024

Dried Grapes Market Size in Hong Kong SAR, China

The Hong Kong dried grapes market surged to $X in 2022, rising by 31% 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). Over the period under review, consumption, however, recorded a pronounced decline. Dried grapes consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Dried Grapes Exports

Exports from Hong Kong SAR, China

In 2022, approx. X tons of dried grapes were exported from Hong Kong SAR; falling by -44.4% against the year before. Overall, exports saw a deep setback. The pace of growth was the most pronounced in 2013 with an increase of 60%. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, dried grapes exports declined sharply to $X in 2022. Over the period under review, exports recorded a deep setback. The most prominent rate of growth was recorded in 2021 when exports increased by 74% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Macao SAR (X tons) was the main destination for dried grapes exports from Hong Kong SAR, with a 72% share of total exports. Moreover, dried grapes exports to Macao SAR exceeded the volume sent to the second major destination, China (X tons), threefold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Macao SAR totaled +9.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-22.6% per year) and Taiwan (Chinese) (-19.7% per year).

In value terms, the largest markets for dried grapes exported from Hong Kong SAR were Macao SAR ($X), China ($X) and Taiwan (Chinese) ($X), together accounting for 100% of total exports.

Macao SAR, with a CAGR of +7.9%, recorded 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 a decline.

Export Prices by Country

In 2022, the average dried grapes export price amounted to $X per ton, leveling off at the previous year. Over the period under review, export price indicated prominent growth from 2012 to 2022: its price increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, dried grapes export price increased by +62.6% against 2019 indices. The most prominent rate of growth was recorded in 2014 when the average export price increased by 31%. The export price peaked in 2022 and is likely to see gradual growth in the near future.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Macao SAR ($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 China (+10.8%), while the prices for the other major destinations experienced mixed trend patterns.

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Dried Grapes Imports

Imports into Hong Kong SAR, China

In 2022, imports of dried grapes into Hong Kong SAR soared to X tons, with an increase of 19% on the year before. In general, imports, however, saw a abrupt decrease. The most prominent rate of growth was recorded in 2017 when imports increased by 28% against the previous year. Over the period under review, imports reached the maximum at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, dried grapes imports soared to $X in 2022. Overall, imports, however, recorded a abrupt downturn. The pace of growth appeared the most rapid in 2017 with an increase of 30%. Over the period under review, imports attained the maximum at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, the United States (X tons) constituted the largest supplier of dried grapes to Hong Kong SAR, with a 73% share of total imports. Moreover, dried grapes imports from the United States exceeded the figures recorded by the second-largest supplier, China (X tons), sixfold. The third position in this ranking was held by Chile (X tons), with a 3.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States totaled -5.4%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-7.2% per year) and Chile (-16.6% per year).

In value terms, the United States ($X) constituted the largest supplier of dried grapes to Hong Kong SAR, comprising 69% of total imports. The second position in the ranking was taken by China ($X), with a 13% share of total imports. It was followed by Taiwan (Chinese), with a 5.1% share.

From 2012 to 2022, the average annual growth rate of value from the United States stood at -5.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-0.4% per year) and Taiwan (Chinese) (-8.6% per year).

Import Prices by Country

In 2022, the average dried grapes import price amounted to $X per ton, leveling off at the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.5%. The growth pace was the most rapid in 2018 when the average import price increased by 13%. The import price peaked at $X per ton in 2019; however, from 2020 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+7.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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