Hong Kong SAR, China: Market for Bone Glues and Gelatin 2024

Market Size for Bone Glues and Gelatin in Hong Kong SAR, China

In 2022, the Hong Kong bone glue and gelatin market increased by 6.6% to $X, rising for the second year in a row after five years of decline. Overall, consumption, however, saw a deep reduction. Bone glue and gelatin consumption peaked at $X in 2015; however, from 2016 to 2022, consumption failed to regain momentum.

Production of Bone Glues and Gelatin in Hong Kong SAR, China

In value terms, bone glue and gelatin production totaled $X in 2022 estimated in export price. Over the period under review, production continues to indicate a abrupt descent. The growth pace was the most rapid in 2020 with a decrease of 99.9%. Over the period under review, production reached the peak level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Exports of Bone Glues and Gelatin

Exports from Hong Kong SAR, China

In 2022, bone glue and gelatin exports from Hong Kong SAR surged to X tons, growing by 262% against the previous year. In general, exports recorded a perceptible expansion. Over the period under review, the exports reached the maximum at X tons in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, bone glue and gelatin exports skyrocketed to $X in 2022. Overall, exports posted a mild increase. The pace of growth appeared the most rapid in 2018 with an increase of 144%. Over the period under review, the exports attained 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) was the main destination for bone glue and gelatin exports from Hong Kong SAR, accounting for a 88% share of total exports. Moreover, bone glue and gelatin exports to China exceeded the volume sent to the second major destination, Malaysia (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to China stood at +4.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+25.8% per year) and Macao SAR (-0.0% per year).

In value terms, China ($X) emerged as the key foreign market for bone glues and gelatin exports from Hong Kong SAR, comprising 65% of total exports. The second position in the ranking was taken by Macao SAR ($X), with an 18% share of total exports.

From 2012 to 2022, the average annual growth rate of value to China amounted to +3.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Macao SAR (+3.5% per year) and Malaysia (+20.1% per year).

Export Prices by Country

In 2022, the average bone glue and gelatin export price amounted to $X per ton, reducing by -44% against the previous year. In general, the export price showed a slight curtailment. The growth pace was the most rapid in 2017 an increase of 22% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Macao SAR ($X per ton), while the average price for exports to China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (+6.0%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Bone Glues and Gelatin

Imports into Hong Kong SAR, China

In 2022, approx. X tons of bone glues and gelatin were imported into Hong Kong SAR; with a decrease of -34.6% against the previous year. Overall, imports recorded a abrupt decrease. The most prominent rate of growth was recorded in 2014 when imports increased by 16%. Imports peaked at X tons in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, bone glue and gelatin imports contracted significantly to $X in 2022. Over the period under review, imports recorded a deep contraction. The pace of growth was the most pronounced in 2021 when imports increased by 15% against the previous year. Over the period under review, imports reached the maximum at $X in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X tons), Germany (X tons) and Taiwan (Chinese) (X tons) were the main suppliers of bone glue and gelatin imports to Hong Kong SAR, together accounting for 75% of total imports. Pakistan, Singapore, New Zealand, the Netherlands and Australia lagged somewhat behind, together comprising a further 24%.

From 2012 to 2022, the biggest increases were recorded for Pakistan (with a CAGR of +119.9%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the largest bone glue and gelatin suppliers to Hong Kong SAR were China ($X), Germany ($X) and Taiwan (Chinese) ($X), with a combined 73% share of total imports. Singapore, New Zealand, Pakistan, the Netherlands and Australia lagged somewhat behind, together accounting for a further 23%.

Pakistan, with a CAGR of +30.3%, 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 mixed trend patterns.

Import Prices by Country

In 2022, the average bone glue and gelatin import price amounted to $X per ton, reducing by -2.9% against the previous year. In general, the import price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 an increase of 28% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was New Zealand ($X per ton), while the price for Pakistan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+4.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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