Hong Kong SAR, China - Lamb And Sheep Meat - Market Analysis, Forecast, Size, Trends and Insights
Get instant access to more than 2 million reports, dashboards, and datasets on the IndexBox Platform.
View PricingImports of Lamb and Sheep Meat Surge to $4.8M in Hong Kong in November 2023
Hong Kong Lamb and Sheep Meat Imports
For the third month in a row, Hong Kong recorded growth in overseas purchases of lamb and sheep meat, which increased by 82% to 635 tons in November 2023. Over the period under review, imports showed resilient growth. The most prominent rate of growth was recorded in September 2023 with an increase of 89% month-to-month. Imports peaked in November 2023.
In value terms, lamb and sheep meat imports skyrocketed to $4.8M (IndexBox estimates) in November 2023. Overall, total imports indicated a moderate expansion from November 2022 to November 2023: its value increased at an average monthly rate of +3.4% over the last twelve months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on November 2023 figures, imports increased by +133.4% against August 2023 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.
| COUNTRY | Import Value of Lamb and Sheep Meat in Hong Kong (thousand USD) | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Nov 2022 | Dec 2022 | Jan 2023 | Feb 2023 | Mar 2023 | Apr 2023 | May 2023 | Jun 2023 | Jul 2023 | Aug 2023 | Sep 2023 | Oct 2023 | Nov 2023 | |
| New Zealand | 1,415 | 2,086 | 2,467 | 1,246 | 1,751 | 2,340 | 2,074 | 1,389 | 1,665 | 945 | 1,772 | 1,125 | 2,260 |
| Australia | 850 | 907 | 1,071 | 862 | 1,123 | 891 | 1,306 | 396 | 982 | 646 | 660 | 951 | 1,375 |
| China | 632 | 551 | 915 | 398 | 791 | 544 | 959 | 569 | 536 | 327 | 832 | 674 | 889 |
| United Kingdom | 235 | 246 | 243 | 184 | 47.9 | 131 | 94.6 | 371 | 23.0 | 113 | 39.4 | 176 | 136 |
| Others | 126 | 255 | 25.4 | 118 | 171 | 20.2 | 62.9 | 32.4 | 44.2 | 42.5 | 44.1 | 32.6 | 182 |
| Total | 3,259 | 4,045 | 4,721 | 2,808 | 3,884 | 3,926 | 4,498 | 2,757 | 3,250 | 2,074 | 3,348 | 2,959 | 4,841 |
Imports by Country
Australia (291 tons), New Zealand (158 tons) and China (111 tons) were the main suppliers of lamb and sheep meat imports to Hong Kong, with a combined 88% share of total imports.
From November 2022 to November 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Australia (with a CAGR of +9.7%), while imports for the other leaders experienced more modest paces of growth.
In value terms, New Zealand ($2.3M), Australia ($1.4M) and China ($889K) appeared to be the largest lamb and sheep meat suppliers to Hong Kong, with a combined 93% share of total imports.
Australia, with a CAGR of +4.1%, recorded 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.
Imports by Type
In November 2023, frozen sheep (including lamb) cuts with bone in (excluding carcasses and half-carcasses) (437 tons) constituted the largest type of lamb and sheep meat supplied to Hong Kong, accounting for a 69% share of total imports. Moreover, frozen sheep (including lamb) cuts with bone in (excluding carcasses and half-carcasses) exceeded the figures recorded for the second-largest type, frozen sheep (including lamb) boneless cuts (145 tons), threefold. Fresh or chilled sheep (including lamb) cuts with bone in (excluding carcasses and half-carcasses) (32 tons) ranked third in terms of total imports with a 5% share.
From November 2022 to November 2023, the average monthly growth rate of the volume of import of frozen sheep (including lamb) cuts with bone in (excluding carcasses and half-carcasses) totaled +6.8%. With regard to the other supplied products, the following average monthly rates of growth were recorded: frozen sheep (including lamb) boneless cuts (+12.3% per month) and fresh or chilled sheep (including lamb) cuts with bone in (excluding carcasses and half-carcasses) (-2.7% per month).
In value terms, frozen sheep (including lamb) cuts with bone in (excluding carcasses and half-carcasses) ($2.8M) constituted the largest type of lamb and sheep meat supplied to Hong Kong, comprising 57% of total imports. The second position in the ranking was taken by frozen sheep (including lamb) boneless cuts ($1M), with a 21% share of total imports. It was followed by fresh or chilled sheep (including lamb) cuts with bone in (excluding carcasses and half-carcasses), with a 15% share.
Import Prices by Country
In November 2023, the lamb and sheep meat price stood at $7,626 per ton (CIF, Hong Kong), reducing by -10% against the previous month. Overall, the import price saw a perceptible reduction. The most prominent rate of growth was recorded in April 2023 when the average import price increased by 18% against the previous month. As a result, import price reached the peak level of $14,601 per ton. From May 2023 to November 2023, the average import prices remained at a somewhat lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was New Zealand ($14,314 per ton), while the price for Russia ($1,857 per ton) was amongst the lowest.
From November 2022 to November 2023, the most notable rate of growth in terms of prices was attained by Iceland (0.0%), while the prices for the other major suppliers experienced a decline.
This report provides an in-depth analysis of the market for lamb and sheep meat 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:
- FCL 977 - Meat of sheep
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:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- 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. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND THE AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional EditionPRO
-
3. MARKET OVERVIEW
Understanding the Current State of The Market and its Prospects
- MARKET SIZE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- MARKET STRUCTURE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- TRADE BALANCE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- PER CAPITA CONSUMPTION: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- MARKET FORECAST TO 2035
-
4. MOST PROMISING PRODUCTS FOR DIVERSIFICATION
Finding New Products to Diversify Your Business
- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCTS
- MOST TRADED PRODUCTS
- MOST PROFITABLE PRODUCTS FOR EXPORTS
-
5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- COUNTRIES WITH TOP YIELDS
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
-
6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Export
- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
-
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
-
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- IMPORTS BY COUNTRY: HISTORICAL DATA (2012–2024)
- IMPORT PRICES BY COUNTRY: HISTORICAL DATA (2012–2024)
-
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- EXPORTS BY COUNTRY: HISTORICAL DATA (2012–2024)
- EXPORT PRICES BY COUNTRY: HISTORICAL DATA (2012–2024)
-
10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
-
LIST OF TABLES
- Key Findings In 2024
- Market Volume, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Market Value: Historical Data (2012–2024) and Forecast (2025–2035)
- Per Capita Consumption: Historical Data (2012–2024) and Forecast (2025–2035)
- Imports, In Physical Terms, By Country, 2012-2024
- Imports, In Value Terms, By Country, 2012-2024
- Import Prices, By Country, 2012-2024
- Exports, In Physical Terms, By Country, 2012-2024
- Exports, In Value Terms, By Country, 2012-2024
- Exports Prices, By Country, 2012-2024
-
LIST OF FIGURES
- Market Volume, in Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Market Value: Historical Data (2012–2024) and Forecast (2025–2035)
- Market Structure – Domestic Supply Vs. Imports, in Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Market Structure – Domestic Supply Vs. Imports, in Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Trade Balance, in Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Trade Balance, in Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Per Capita Consumption: Historical Data (2012–2024) and Forecast (2025–2035)
- Market Volume Forecast to 2035
- Market Value Forecast to 2035
- Market Size and Growth, by Product
- Average Per Capita Consumption, by Product
- Exports and Growth, by Product
- Export Prices and Growth, by Product
- Production Volume and Growth
- Yield and Growth
- Exports and Growth
- Export Prices and Growth
- Market Size and Growth
- Per Capita Consumption
- Imports and Growth
- Import Prices
- Production, in Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Production, in Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Producing Animals: Historical Data (2012–2024) and Forecast (2025–2035)
- Yield: Historical Data (2012–2024) and Forecast (2025–2035)
- Imports, in Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Imports, in Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Imports, in Physical Terms, by Country, 2024
- Imports, in Physical Terms, by Country, 2012-2024
- Imports, in Value Terms, by Country, 2012-2024
- Import Prices, by Country, 2012-2024
- Exports, in Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Exports, in Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Exports, in Physical Terms, by Country, 2024
- Exports, in Physical Terms, by Country, 2012-2024
- Exports, in Value Terms, by Country, 2012-2024
- Export Prices, by Country, 2012-2024
