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Hong Kong SAR, China - Frozen Fish And Seafood - Market Analysis, Forecast, Size, Trends And Insights
Report Update: Feb 1, 2025

Hong Kong SAR, China - Frozen Fish And Seafood - Market Analysis, Forecast, Size, Trends And Insights

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May 17, 2024

Hong Kong Sees $966M Surge in Frozen Fish and Seafood Imports for 2023

Hong Kong Frozen Fish and Seafood Imports

In 2023, approx. 116K tons of frozen fish and seafood were imported into Hong Kong; rising by 1.6% compared with 2022. In general, imports, however, recorded a pronounced shrinkage. The most prominent rate of growth was recorded in 2014 when imports increased by 4.8%. As a result, imports reached the peak of 189K tons. From 2015 to 2023, the growth of imports remained at a lower figure.

In value terms, frozen fish and seafood imports totaled $966M (IndexBox estimates) in 2023. Over the period under review, imports, however, saw a noticeable reduction. The pace of growth was the most pronounced in 2016 when imports increased by 9% against the previous year. Imports peaked at $1.3B in 2013; however, from 2014 to 2023, imports failed to regain momentum.Hong Kong Frozen Fish and Seafood Imports By Country (Million USD)

COUNTRYImport Value of Frozen Fish and Seafood in Hong Kong (million USD)
20132014201520162017201820192020202120222023
China590545454479561524478419465374395
Japan195170176196154183171149171173176
Vietnam98.812312012712914213195.4105118112
India10.213.413.714.116.217.817.816.520.124.324.5
Norway23.722.916.416.016.215.115.817.716.926.124.5
Australia17.422.220.919.719.620.317.523.727.725.324.1
Canada36.636.935.049.332.128.930.220.218.422.822.4
Indonesia29.236.928.122.723.223.122.218.518.419.819.5
United States41.639.650.947.926.823.222.012.612.516.315.2
Others253279253302223250211139136153153
Total1,2961,2891,1671,2731,2001,2271,116910991953966

Imports by Country

In 2023, China (54K tons) constituted the largest frozen fish and seafood supplier to Hong Kong, accounting for a 47% share of total imports. Moreover, frozen fish and seafood imports from China exceeded the figures recorded by the second-largest supplier, Vietnam (25K tons), twofold. The third position in this ranking was taken by Japan (5.7K tons), with a 4.9% share.

From 2013 to 2023, the average annual growth rate of volume from China totaled -6.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (-0.3% per year) and Japan (-1.0% per year).

In value terms, China ($395M) constituted the largest supplier of frozen fish and seafood to Hong Kong, comprising 41% of total imports. The second position in the ranking was taken by Japan ($176M), with an 18% share of total imports. It was followed by Vietnam, with a 12% share.

From 2013 to 2023, the average annual rate of growth in terms of value from China stood at -3.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-1.0% per year) and Vietnam (+1.3% per year).

Imports by Type

Frozen crustaceans (33K tons), frozen whole fish (31K tons) and frozen fish fillet (26K tons) were the main products of frozen fish and seafood imports to Hong Kong, with a combined 78% share of total imports.

From 2013 to 2023, the biggest increases were recorded for frozen whole fish (with a CAGR of +2.8%), while purchases for the other products experienced mixed trend patterns.

In value terms, frozen crustaceans ($315M), molluscs (scallops, mussels, cuttle fish, squid and octopus) ($271M) and frozen whole fish ($199M) were the most imported types of frozen fish and seafood in Hong Kong, together comprising 81% of total imports. Frozen fish fillet and frozen fish meat lagged somewhat behind, together accounting for a further 19%.

Import Prices by Country

In 2023, the frozen fish and seafood price amounted to $8,357 per ton (CIF, Hong Kong), approximately mirroring the previous year. Over the period from 2013 to 2023, it increased at an average annual rate of +1.5%. The pace of growth was the most pronounced in 2016 an increase of 12%. Over the period under review, average import prices reached the peak figure at $8,382 per ton in 2022, and then dropped slightly in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Japan ($30,875 per ton), while the price for Vietnam ($4,477 per ton) was amongst the lowest.

From 2013 to 2023, the most notable rate of growth in terms of prices was attained by Norway (+6.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the market for frozen fish and seafood in Hong Kong SAR, China. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

  • Prodcom 10201330 - Frozen whole salt water fish
  • Prodcom 10201360 - Frozen whole fresh water fish
  • Prodcom 10201400 - Frozen fish fillets
  • Prodcom 10201500 - Frozen fish meat without bones (excluding fillets)
  • Prodcom 10201600 - Frozen fish livers and roes

Country coverage:

  • Hong Kong SAR

Data coverage:

  • Market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Trade (exports and imports) in Hong Kong SAR, China
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Reasons to buy this report:

  • Take advantage of the latest data
  • Find deeper insights into current market developments
  • Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS

  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO

  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. MARKET STRUCTURE
    3. TRADE BALANCE
    4. PER CAPITA CONSUMPTION
    5. MARKET FORECAST TO 2030

  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT

  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. TOP EXPORTING COUNTRIES
    4. LOW-COST EXPORTING COUNTRIES

  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS

  7. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE

  8. 8. IMPORTS

    The Largest Import Supplying Countries

    1. IMPORTS FROM 2012–2024
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. EXPORTS

    The Largest Destinations for Exports

    1. EXPORTS FROM 2012–2024
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. LIST OF TABLES

    1. Key Findings In 2024
    2. Market Volume, In Physical Terms, 2012–2024
    3. Market Value, 2012–2024
    4. Per Capita Consumption In 2012-2024
    5. Imports, In Physical Terms, By Country, 2012–2024
    6. Imports, In Value Terms, By Country, 2012–2024
    7. Import Prices, By Country Of Origin, 2012–2024
    8. Exports, In Physical Terms, By Country, 2012–2024
    9. Exports, In Value Terms, By Country, 2012–2024
    10. Export Prices, By Country Of Destination, 2012–2024

  12. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2024
    2. Market Value, 2012–2024
    3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2024
    4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2024
    5. Trade Balance, In Physical Terms, 2012-2024
    6. Trade Balance, In Value Terms, 2012-2024
    7. Per Capita Consumption, 2012-2024
    8. Market Volume Forecast to 2030
    9. Market Value Forecast to 2030
    10. Products: Market Size And Growth, By Type
    11. Products: Average Per Capita Consumption, By Type
    12. Products: Exports And Growth, By Type
    13. Products: Export Prices And Growth, By Type
    14. Production Volume And Growth
    15. Exports And Growth
    16. Export Prices And Growth
    17. Market Size And Growth
    18. Per Capita Consumption
    19. Imports And Growth
    20. Import Prices
    21. Production, In Physical Terms, 2012–2024
    22. Production, In Value Terms, 2012–2024
    23. Imports, In Physical Terms, 2012–2024
    24. Imports, In Value Terms, 2012–2024
    25. Imports, In Physical Terms, By Country, 2024
    26. Imports, In Physical Terms, By Country, 2012–2024
    27. Imports, In Value Terms, By Country, 2012–2024
    28. Import Prices, By Country Of Origin, 2012–2024
    29. Exports, In Physical Terms, 2012–2024
    30. Exports, In Value Terms, 2012–2024
    31. Exports, In Physical Terms, By Country, 2024
    32. Exports, In Physical Terms, By Country, 2012–2024
    33. Exports, In Value Terms, By Country, 2012–2024
    34. Export Prices, By Country Of Destination, 2012–2024

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