Hong Kong SAR, China: Preserved Anchovies Market 2024

Preserved Anchovies Market Size in Hong Kong SAR, China

In 2021, the Hong Kong preserved anchovies market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. Over the period under review, the total consumption indicated a notable increase from 2012 to 2021: its value increased at an average annual rate of +2.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market remained at a lower figure.

Preserved Anchovies Production in Hong Kong SAR, China

In value terms, preserved anchovies production totaled $X in 2021 estimated in export price. Over the period under review, the total production indicated a notable increase from 2012 to 2021: its value increased at an average annual rate of +3.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -7.2% against 2018 indices. The pace of growth appeared the most rapid in 2018 with an increase of 60%. As a result, production attained the peak level of $X. From 2019 to 2021, production growth failed to regain momentum.

Preserved Anchovies Exports

Exports from Hong Kong SAR, China

After two years of growth, shipments abroad of anchovies (prepared or preserved) decreased by -88.8% to X tons in 2021. In general, exports recorded a abrupt downturn. The most prominent rate of growth was recorded in 2019 when exports increased by 317%. Over the period under review, the exports reached the maximum at X tons in 2020, and then fell markedly in the following year.

In value terms, preserved anchovies exports plummeted to $X in 2021. Overall, exports continue to indicate a deep contraction. The pace of growth appeared the most rapid in 2019 when exports increased by 54% against the previous year. As a result, the exports reached the peak of $X. From 2020 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Macao SAR (X tons) was the main destination for preserved anchovies exports from Hong Kong SAR, accounting for a approx. 100% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to Macao SAR totaled -8.8%.

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

From 2012 to 2021, the average annual rate of growth in terms of value to Macao SAR stood at -6.9%.

Export Prices by Country

The average preserved anchovies export price stood at $X per ton in 2021, rising by 444% against the previous year. In general, the export price enjoyed a prominent expansion. The export price peaked at $X per ton in 2016; however, from 2017 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the rate of growth in terms of prices for China amounted to +76.3% per year.

Preserved Anchovies Imports

Imports into Hong Kong SAR, China

In 2021, the amount of anchovies (prepared or preserved) imported into Hong Kong SAR surged to X tons, increasing by 34% against 2020 figures. Over the period under review, imports, however, continue to indicate a abrupt downturn. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, preserved anchovies imports surged to $X in 2021. In general, imports, however, saw a abrupt curtailment. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Italy (X tons) constituted the largest supplier of preserved anchovies to Hong Kong SAR, with a 73% share of total imports. Moreover, preserved anchovies imports from Italy exceeded the figures recorded by the second-largest supplier, France (X tons), fivefold. Spain (X tons) ranked third in terms of total imports with an 8.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Italy amounted to -16.5%. The remaining supplying countries recorded the following average annual rates of imports growth: France (-3.6% per year) and Spain (-0.7% per year).

In value terms, Italy ($X) constituted the largest supplier of anchovies (prepared or preserved) to Hong Kong SAR, comprising 73% of total imports. The second position in the ranking was held by France ($X), with a 13% share of total imports. It was followed by Spain, with a 9.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Italy totaled -10.8%. The remaining supplying countries recorded the following average annual rates of imports growth: France (-1.8% per year) and Spain (-0.3% per year).

Import Prices by Country

The average preserved anchovies import price stood at $X per ton in 2021, reducing by -3.2% against the previous year. Overall, the import price, however, enjoyed resilient growth. The most prominent rate of growth was recorded in 2018 an increase of 118% against the previous year. The import price peaked at $X per ton in 2020, and then fell modestly in the following year.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from Spain ($X per ton) and Italy ($X per ton), while the price for France ($X per ton) and South Korea ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+9.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :