Hong Kong SAR, China: Grape Must Market 2024

Grape Must Market Size in Hong Kong SAR, China

In 2022, the Hong Kong grape must market was finally on the rise to reach $X after three years of decline. Over the period under review, consumption, however, saw a pronounced shrinkage. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market remained at a lower figure.

Grape Must Exports

Exports from Hong Kong SAR, China

In 2022, approx. X litres of grape must were exported from Hong Kong SAR; growing by X% compared with 2021 figures. Overall, exports recorded a prominent increase. The pace of growth was the most pronounced in 2015 with an increase of X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, grape must exports surged to $X in 2022. Over the period under review, exports enjoyed a prominent increase. The most prominent rate of growth was recorded in 2015 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The UK (X litres) was the main destination for grape must exports from Hong Kong SAR, accounting for a X% share of total exports. Moreover, grape must exports to the UK exceeded the volume sent to the second major destination, Singapore (X litres), fourfold. The third position in this ranking was taken by Italy (X litres), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to the UK amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (X% per year) and Italy (X% per year).

In value terms, Singapore ($X), the UK ($X) and Malaysia ($X) were the largest markets for grape must exported from Hong Kong SAR worldwide, together comprising X% of total exports.

The UK, with a CAGR of X%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average grape must export price amounted to $X per litre, with a decrease of X% against the previous year. Overall, the export price, however, posted a notable increase. The most prominent rate of growth was recorded in 2018 when the average export price increased by X%. Over the period under review, the average export prices hit record highs at $X per litre in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (X%), while the prices for the other major destinations experienced mixed trend patterns.

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Grape Must Imports

Imports into Hong Kong SAR, China

In 2022, supplies from abroad of grape must increased by X% to X litres for the first time since 2018, thus ending a three-year declining trend. In general, imports, however, recorded a abrupt decrease. The most prominent rate of growth was recorded in 2014 when imports increased by X%. As a result, imports attained the peak of X litres. From 2015 to 2022, the growth of imports failed to regain momentum.

In value terms, grape must imports surged to $X in 2022. Over the period under review, imports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 when imports increased by X%. Over the period under review, imports reached the peak figure at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Canada (X litres) constituted the largest supplier of grape must to Hong Kong SAR, with a X% share of total imports. Moreover, grape must imports from Canada exceeded the figures recorded by the second-largest supplier, Israel (X litres), threefold. The third position in this ranking was held by Italy (X litres), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from Canada stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Israel (X% per year) and Italy (X% per year).

In value terms, Italy ($X) constituted the largest supplier of grape must to Hong Kong SAR, comprising X% of total imports. The second position in the ranking was taken by Australia ($X), with an X% share of total imports. It was followed by the UK, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Italy stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (X% per year) and the UK (X% per year).

Import Prices by Country

In 2022, the average grape must import price amounted to $X per litre, reducing by X% against the previous year. In general, the import price, however, enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2016 an increase of X%. Over the period under review, average import prices hit record highs at $X per litre in 2021, and then contracted in the following year.

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

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

Source: IndexBox Platform