Hong Kong SAR, China: Preserved Sardines Market 2024

Preserved Sardines Market Size in Hong Kong SAR, China

The Hong Kong preserved sardines market surged to $X in 2022, picking up by X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Preserved Sardines Production in Hong Kong SAR, China

In value terms, preserved sardines production rose markedly to $X in 2022 estimated in export price. Over the period under review, production, however, showed a deep contraction. The most prominent rate of growth was recorded in 2020 with an increase of X%. Preserved sardines production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Preserved Sardines Exports

Exports from Hong Kong SAR, China

Preserved sardines exports from Hong Kong SAR soared to X tons in 2022, with an increase of X% compared with the year before. Overall, exports, however, continue to indicate a deep setback. The pace of growth appeared the most rapid in 2013 with an increase of X%. As a result, the exports attained the peak of X tons. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, preserved sardines exports skyrocketed to $X in 2022. In general, exports, however, continue to indicate a noticeable descent. The pace of growth appeared the most rapid in 2013 with an increase of X%. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Macao SAR (X tons) was the main destination for preserved sardines exports from Hong Kong SAR, accounting for a approx. X% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Macao SAR totaled X%.

In value terms, Macao SAR ($X) also remains the key foreign market for sardines (prepared or preserved) exports from Hong Kong SAR.

From 2012 to 2022, the average annual rate of growth in terms of value to Macao SAR stood at X%.

Export Prices by Country

The average preserved sardines export price stood at $X per ton in 2022, waning 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 2021 when the average export price increased by X%. As a result, the export price reached the peak level of $X per ton, and then shrank modestly in the following year.

As there is only one major export destination, the average price level is determined by prices for Macao SAR.

From 2012 to 2022, the rate of growth in terms of prices for Malaysia amounted to X% per year.

Preserved Sardines Imports

Imports into Hong Kong SAR, China

In 2022, imports of sardines (prepared or preserved) into Hong Kong SAR soared to X tons, picking up by X% on the previous year's figure. Over the period under review, total imports indicated a tangible expansion from 2012 to 2022: its volume 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, imports decreased by X% against 2020 indices. Over the period under review, imports attained the peak figure at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, preserved sardines imports skyrocketed to $X in 2022. In general, total imports 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, imports decreased by X% against 2020 indices. Over the period under review, imports attained the peak figure at $X in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The Philippines (X tons), Malaysia (X tons) and Thailand (X tons) were the main suppliers of preserved sardines imports to Hong Kong SAR, with a combined X% share of total imports. Portugal, Morocco and Japan lagged somewhat behind, together comprising a further X%.

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

In value terms, the largest preserved sardines suppliers to Hong Kong SAR were Malaysia ($X), the Philippines ($X) and Portugal ($X), with a combined X% share of total imports.

Portugal, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average preserved sardines import price amounted to $X per ton, reducing by X% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2013 an increase of X% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2016; however, from 2017 to 2022, import prices remained at a lower figure.

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 ($X per ton), while the price for the Philippines ($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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