Hong Kong SAR, China: Frozen Crustaceans Market 2024

Frozen Crustaceans Market Size in Hong Kong SAR, China

The Hong Kong frozen crustaceans market amounted to $X in 2023, flattening at 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, the total consumption indicated a noticeable expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption increased by X% against 2020 indices. Over the period under review, the market attained the peak level at $X in 2018; however, from 2019 to 2023, consumption stood at a somewhat lower figure.

Frozen Crustaceans Exports

Exports from Hong Kong SAR, China

Frozen crustaceans exports from Hong Kong SAR shrank to X tons in 2023, remaining stable against 2022. Overall, exports recorded a abrupt decrease. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2023, the growth of the exports remained at a somewhat lower figure.

In value terms, frozen crustaceans exports expanded rapidly to $X in 2023. In general, exports saw a abrupt downturn. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2023, the exports failed to regain momentum.

Exports by Country

Macao SAR (X tons) was the main destination for frozen crustaceans exports from Hong Kong SAR, with a X% share of total exports. Moreover, frozen crustaceans exports to Macao SAR exceeded the volume sent to the second major destination, China (X tons), fourfold. The third position in this ranking was held by Japan (X tons), with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume to Macao SAR amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (X% per year) and Japan (X% per year).

In value terms, Macao SAR ($X) remains the key foreign market for frozen crustaceans exports from Hong Kong SAR, comprising X% of total exports. The second position in the ranking was held by Japan ($X), with a X% share of total exports. It was followed by the United States, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value to Macao SAR amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (X% per year) and the United States (X% per year).

Export Prices by Country

In 2023, the average frozen crustaceans export price amounted to $X per ton, rising by X% against the previous year. In general, export price indicated a modest expansion from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, frozen crustaceans export price decreased by X% against 2021 indices. The pace of growth appeared the most rapid in 2019 an increase of X%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2021; however, from 2022 to 2023, the export prices stood at a somewhat lower figure.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Taiwan (Chinese) (X%), while the prices for the other major destinations experienced more modest paces of growth.

Frozen Crustaceans Imports

Imports into Hong Kong SAR, China

In 2023, the amount of frozen crustaceans imported into Hong Kong SAR rose rapidly to X tons, with an increase of X% on the previous year. Over the period under review, imports, however, showed a perceptible downturn. The most prominent rate of growth was recorded in 2013 with an increase of X%. Over the period under review, imports reached the maximum at X tons in 2014; however, from 2015 to 2023, imports failed to regain momentum.

In value terms, frozen crustaceans imports reduced modestly to $X in 2023. In general, imports, however, recorded a mild setback. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. Over the period under review, imports reached the maximum at $X in 2014; however, from 2015 to 2023, imports remained at a lower figure.

Imports by Country

China (X tons), Vietnam (X tons) and India (X tons) were the main suppliers of frozen crustaceans imports to Hong Kong SAR, with a combined X% share of total imports. Australia, Myanmar, Ecuador, Indonesia, Thailand, Japan, Canada, Argentina and Malaysia lagged somewhat behind, together accounting for a further X%.

From 2012 to 2023, the biggest increases were recorded for Ecuador (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest frozen crustaceans suppliers to Hong Kong SAR were China ($X), Vietnam ($X) and India ($X), together comprising X% of total imports. Australia, Japan, Myanmar, Canada, Indonesia, Thailand, Ecuador, Malaysia and Argentina lagged somewhat behind, together comprising a further X%.

Among the main suppliers, Ecuador, with a CAGR of X%, 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 frozen crustaceans import price stood at $X per ton in 2023, which is down by X% against the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2017 an increase of X%. Over the period under review, average import prices attained the maximum at $X per ton in 2019; however, from 2020 to 2023, import prices failed to regain momentum.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Myanmar (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform