Hong Kong SAR, China: Market for Fish Fats And Oils 2024

Market Size for Fish Fats And Oils in Hong Kong SAR, China

The Hong Kong fish fat and oil market expanded sharply to $X in 2022, surging by X% against the previous year. In general, the total consumption indicated a strong 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 decreased by X% against 2020 indices. Over the period under review, the market reached the maximum level at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Production of Fish Fats And Oils in Hong Kong SAR, China

In value terms, fish fat and oil production totaled $X in 2022 estimated in export price. Over the period under review, the total production indicated strong growth 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, production decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2018 when the production volume increased by X% against the previous year. Fish fat and oil production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

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Exports of Fish Fats And Oils

Exports from Hong Kong SAR, China

In 2022, the amount of fish fats and oils exported from Hong Kong SAR fell remarkably to X tons, with a decrease of X% on 2021 figures. In general, exports, however, posted a remarkable increase. The pace of growth was the most pronounced in 2013 when exports increased by X%. The exports peaked at X tons in 2021, and then shrank dramatically in the following year.

In value terms, fish fat and oil exports declined sharply to $X in 2022. Overall, exports, however, continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

China (X tons) was the main destination for fish fat and oil exports from Hong Kong SAR, accounting for a X% share of total exports. Moreover, fish fat and oil exports to China exceeded the volume sent to the second major destination, Chile (X tons), fourfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to China stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (X% per year) and Macao SAR (X% per year).

In value terms, China ($X) remains the key foreign market for fish fats and oils exports from Hong Kong SAR, comprising X% of total exports. The second position in the ranking was held by Chile ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value to China totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (X% per year) and Macao SAR (X% per year).

Export Prices by Country

The average fish fat and oil export price stood at $X per ton in 2022, which is down by X% against the previous year. In general, the export price, however, showed a prominent increase. The most prominent rate of growth was recorded in 2016 when the average export price increased by X% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Chile ($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 (X%).

Imports of Fish Fats And Oils

Imports into Hong Kong SAR, China

In 2022, purchases abroad of fish fats and oils increased by X% to X tons, rising for the third consecutive year after two years of decline. Over the period under review, imports enjoyed a resilient expansion. The growth pace was the most rapid in 2017 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons. From 2018 to 2022, the growth of imports failed to regain momentum.

In value terms, fish fat and oil imports skyrocketed to $X in 2022. In general, imports showed prominent growth. The growth pace was the most rapid in 2015 when imports increased by X% against the previous year. As a result, imports reached the peak of $X. From 2016 to 2022, the growth of imports remained at a lower figure.

Imports by Country

China (X tons), Norway (X tons) and Chile (X tons) were the main suppliers of fish fat and oil imports to Hong Kong SAR, with a combined X% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Norway (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest fish fat and oil suppliers to Hong Kong SAR were Norway ($X), China ($X) and the United States ($X), together comprising X% of total imports.

Norway, 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

The average fish fat and oil import price stood at $X per ton in 2022, falling by X% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 an increase of X%. Over the period under review, average import prices hit record highs at $X per ton in 2018; however, from 2019 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 the United States ($X per ton), while the price for Chile ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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