Hong Kong SAR, China: Frozen Fish Market 2024

Frozen Fish Market Size in Hong Kong SAR, China

The Hong Kong frozen fish market soared to $X in 2022, jumping by X% against the previous year. Overall, the total consumption indicated a resilient 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. Frozen fish consumption peaked in 2022 and is expected to retain growth in the near future.

Frozen Fish Production in Hong Kong SAR, China

In value terms, frozen fish production declined modestly to $X in 2022 estimated in export price. In general, production saw a deep setback. The pace of growth was the most pronounced in 2017 with an increase of X%. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Frozen Fish Exports

Exports from Hong Kong SAR, China

In 2022, frozen fish exports from Hong Kong SAR declined significantly to X tons, dropping by X% on the year before. Overall, exports recorded a abrupt slump. The most prominent rate of growth was recorded in 2013 when exports increased by X%. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, frozen fish exports reduced notably to $X in 2022. In general, exports showed a abrupt decrease. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

South Korea (X tons) was the main destination for frozen fish exports from Hong Kong SAR, accounting for a X% share of total exports. Moreover, frozen fish exports to South Korea exceeded the volume sent to the second major destination, Macao SAR (X tons), eightfold. The third position in this ranking was held by Thailand (X tons), with a X% share.

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

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

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

Export Prices by Country

In 2022, the average frozen fish export price amounted to $X per ton, surging by X% against the previous year. Overall, the export price showed a buoyant increase. The most prominent rate of growth was recorded in 2019 an increase of X% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Macao SAR ($X per ton), while the average price for exports to China ($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 Macao SAR (X%), while the prices for the other major destinations experienced mixed trend patterns.

Frozen Fish Imports

Imports into Hong Kong SAR, China

For the fourth year in a row, Hong Kong SAR recorded decline in overseas purchases of frozen fish, which decreased by X% to X tons in 2022. Over the period under review, imports continue to indicate a slight curtailment. The most prominent rate of growth was recorded in 2014 with an increase of X%. Over the period under review, imports hit record highs at X tons in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, frozen fish imports expanded rapidly to $X in 2022. In general, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when imports increased by X%. As a result, imports reached the peak of $X. From 2017 to 2022, the growth of imports remained at a lower figure.

Imports by Country

China (X tons), Vietnam (X tons) and Japan (X tons) were the main suppliers of frozen fish imports to Hong Kong SAR, together accounting for X% of total imports.

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

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

From 2012 to 2022, the average annual growth rate of value from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (X% per year) and Vietnam (X% per year).

Import Prices by Country

In 2022, the average frozen fish import price amounted to $X per ton, rising by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2016 when the average import price increased by X%. Over the period under review, average import prices attained the maximum in 2022 and is likely to see gradual growth in the immediate term.

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 Japan ($X per ton), while the price for Vietnam ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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