Hong Kong SAR, China: Hop Market 2024

Hop Market Size in Hong Kong SAR, China

The Hong Kong hop market expanded to $X in 2022, surging by X% against the previous year. Over the period under review, consumption saw a resilient increase. Over the period under review, the market reached the peak level at $X in 2016; however, from 2017 to 2022, consumption remained at a lower figure.

Hop Production in Hong Kong SAR, China

In value terms, hop production expanded slightly to $X in 2022 estimated in export price. In general, production posted modest growth. The most prominent rate of growth was recorded in 2020 with an increase of X%. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

In 2022, the average hop yield in Hong Kong SAR was estimated at less than X kg per ha, remaining relatively unchanged against the previous year. In general, the yield continues to indicate a relatively flat trend pattern. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, approx. less than X ha of hops were harvested in Hong Kong SAR; stabilizing at 2021 figures. Overall, the harvested area continues to indicate a relatively flat trend pattern.

Hop Exports

Exports from Hong Kong SAR, China

In 2022, the amount of hops exported from Hong Kong SAR skyrocketed to X tons, with an increase of X% compared with 2021. Over the period under review, exports enjoyed a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, hop exports surged to $X in 2022. Overall, exports posted a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

China (X tons) was the main destination for hop exports from Hong Kong SAR, accounting for a X% share of total exports. Moreover, hop exports to China exceeded the volume sent to the second major destination, Vietnam (X tons), threefold. Japan (X tons) ranked third in terms of total exports with an X% share.

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: Vietnam (X% per year) and Japan (X% per year).

In value terms, China ($X) emerged as the key foreign market for hops exports from Hong Kong SAR, comprising X% of total exports. The second position in the ranking was held by Vietnam ($X), with a X% share of total exports. It was followed by Japan, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to China amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (X% per year) and Japan (X% per year).

Export Prices by Country

The average hop export price stood at $X per ton in 2022, which is down by X% against the previous year. In general, the export price saw a mild contraction. The pace of growth appeared the most rapid in 2017 an increase of X% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2021, and then plummeted in the following year.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to the Philippines ($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 Vietnam (X%), while the prices for the other major destinations experienced more modest paces of growth.

Hop Imports

Imports into Hong Kong SAR, China

In 2022, the amount of hops imported into Hong Kong SAR surged to X kg, picking up by X% on the previous year's figure. In general, imports, however, continue to indicate a sharp decline. 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 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, hop imports skyrocketed to $X in 2022. Overall, imports, however, faced a precipitous shrinkage. The most prominent rate of growth was recorded in 2015 when imports increased by X%. As a result, imports attained the peak of $X. From 2016 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, the United States (X tons) was the main supplier of hop to Hong Kong SAR, with a X% share of total imports. Moreover, hop imports from the United States exceeded the figures recorded by the second-largest supplier, New Zealand (X tons), more than tenfold. China (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from the United States amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: New Zealand (X.7% per year) and China (X% per year).

In value terms, the United States ($X) constituted the largest supplier of hops to Hong Kong SAR, comprising X% of total imports. The second position in the ranking was taken by China ($X), with an X% share of total imports. It was followed by New Zealand, with a X% share.

From 2012 to 2022, the average annual growth rate of value from the United States amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and New Zealand (X.3% per year).

Import Prices by Country

The average hop import price stood at $X per ton in 2022, remaining stable against the previous year. Over the period under review, the import price posted a significant expansion. The most prominent rate of growth was recorded in 2021 when the average import price increased by X%. Over the period under review, average import prices attained the peak figure in 2022 and is likely to see gradual growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($X per ton), while the price for South Korea ($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 (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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