Hong Kong SAR, China: Biological Product Market 2024

Biological Product Market Size in Hong Kong SAR, China

The Hong Kong biological product market contracted to $X in 2022, waning by X% against the previous year. Over the period under review, the total consumption indicated modest growth 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, consumption increased by X% against 2020 indices. Biological product consumption peaked at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Biological Product Production in Hong Kong SAR, China

In value terms, biological product production declined to $X in 2022 estimated in export price. Overall, the total production indicated a mild increase 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, production increased by X% against 2020 indices. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, production reached the maximum level at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Biological Product Exports

Exports from Hong Kong SAR, China

Biological product exports from Hong Kong SAR contracted significantly to X tons in 2022, which is down by X% on the year before. In general, exports, however, continue to indicate a perceptible expansion. The pace of growth was the most pronounced in 2015 when exports increased by X%. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, biological product exports dropped notably to $X in 2022. Overall, exports, however, posted a remarkable increase. The pace of growth was the most pronounced in 2017 with an increase of X%. Over the period under review, the exports reached the maximum at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

China (X tons), Australia (X tons) and Macao SAR (X tons) were the main destinations of biological product exports from Hong Kong SAR, together accounting for X% of total exports. Italy, Mexico, Brazil, Belgium and South Korea lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for Mexico (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Macao SAR ($X), Australia ($X) and China ($X) constituted the largest markets for biological product exported from Hong Kong SAR worldwide, with a combined X% share of total exports. Italy, Brazil, Mexico, Belgium and South Korea lagged somewhat behind, together accounting for a further X%.

Mexico, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average biological product export price stood at $X per kg in 2022, shrinking by X% against the previous year. Over the period under review, the export price, however, saw pronounced growth. The pace of growth appeared the most rapid in 2017 an increase of X%. Over the period under review, the average export prices hit record highs at $X per kg in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Macao SAR ($X per kg), while the average price for exports to Mexico ($X per kg) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Italy (X%), while the prices for the other major destinations experienced more modest paces of growth.

Biological Product Imports

Imports into Hong Kong SAR, China

In 2022, overseas purchases of biological products decreased by X% to X tons, falling for the second year in a row after two years of growth. In general, imports, however, showed a resilient expansion. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, biological product imports contracted remarkably to $X in 2022. Over the period under review, imports, however, saw a strong expansion. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Switzerland (X tons) constituted the largest supplier of biological product to Hong Kong SAR, with a X% share of total imports. Moreover, biological product imports from Switzerland exceeded the figures recorded by the second-largest supplier, Germany (X tons), threefold. The United States (X tons) ranked third in terms of total imports with a X% share.

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

In value terms, Switzerland ($X), the United States ($X) and Germany ($X) were the largest biological product suppliers to Hong Kong SAR, together accounting for X% of total imports.

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

Import Prices by Country

The average biological product import price stood at $X per kg in 2022, rising by X% against the previous year. In general, import price indicated a moderate expansion from 2012 to 2022: its price 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, biological product import price increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2013 when the average import price increased by X%. As a result, import price attained the peak level of $X per kg. From 2014 to 2022, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Sweden ($X per kg), while the price for Thailand ($X per kg) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sweden (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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