Hong Kong SAR, China - Brooms and Brushes of Twigs - Market Analysis, Forecast, Size, Trends and Insights
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View PricingHong Kong SAR, China: Twig Broom Market 2024
Twig Broom Market Size in Hong Kong SAR, China
In 2021, after four years of decline, there was significant growth in the Hong Kong twig broom market, when its value increased by 6.3% to $X. Over the period under review, consumption, however, posted a strong expansion. Twig broom consumption peaked at $X in 2016; however, from 2017 to 2021, consumption stood at a somewhat lower figure.
Twig Broom Exports
Exports from Hong Kong SAR, China
For the seventh year in a row, Hong Kong SAR recorded decline in shipments abroad of brooms and brushes of twigs, which decreased by -10% to X units in 2021. Overall, exports showed a precipitous descent. The most prominent rate of growth was recorded in 2014 with an increase of 66%. The exports peaked at X units in 2012; however, from 2013 to 2021, the exports remained at a lower figure.
In value terms, twig broom exports dropped to $X in 2021. Over the period under review, exports saw a deep downturn. The most prominent rate of growth was recorded in 2014 with an increase of 16% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.
Exports by Country
The United States (X units), Japan (X units) and Macao SAR (X units) were the main destinations of twig broom exports from Hong Kong SAR, with a combined 76% share of total exports.
From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Macao SAR (with a CAGR of +6.9%), while the other leaders experienced mixed trend patterns.
In value terms, Macao SAR ($X), the United States ($X) and Japan ($X) constituted the largest markets for twig broom exported from Hong Kong SAR worldwide, with a combined 82% share of total exports.
Among the main countries of destination, Macao SAR, with a CAGR of +11.7%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced a decline.
Export Prices by Country
The average twig broom export price stood at $X per unit in 2021, with a decrease of -4% against the previous year. In general, export price indicated prominent growth from 2012 to 2021: its price increased at an average annual rate of +6.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, twig broom export price increased by +30.2% against 2019 indices. The pace of growth appeared the most rapid in 2013 an increase of 47%. Over the period under review, the average export prices hit record highs at $X per unit in 2020, and then contracted in the following year.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Macao SAR ($X per unit), while the average price for exports to China ($X per unit) was amongst the lowest.
From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+6.1%), while the prices for the other major destinations experienced more modest paces of growth.
Twig Broom Imports
Imports into Hong Kong SAR, China
In 2021, purchases abroad of brooms and brushes of twigs decreased by -9.8% to X units, falling for the sixth year in a row after two years of growth. Over the period under review, imports showed a abrupt setback. The pace of growth appeared the most rapid in 2014 with an increase of 40%. Over the period under review, imports reached the peak figure at X units in 2015; however, from 2016 to 2021, imports failed to regain momentum.
In value terms, twig broom imports rose rapidly to $X in 2021. Overall, imports continue to indicate a noticeable downturn. The growth pace was the most rapid in 2016 with an increase of 52%. As a result, imports attained the peak of $X. From 2017 to 2021, the growth of imports failed to regain momentum.
Imports by Country
In 2021, China (X units) constituted the largest supplier of twig broom to Hong Kong SAR, with a 84% share of total imports. Moreover, twig broom imports from China exceeded the figures recorded by the second-largest supplier, Italy (X units), more than tenfold. The third position in this ranking was taken by Thailand (X units), with a 4.2% share.
From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to -10.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+5.7% per year) and Thailand (+17.7% per year).
In value terms, China ($X) constituted the largest supplier of brooms and brushes of twigs to Hong Kong SAR, comprising 73% of total imports. The second position in the ranking was held by Italy ($X), with an 8.1% share of total imports. It was followed by the United States, with a 7.9% share.
From 2012 to 2021, the average annual growth rate of value from China stood at -6.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+7.5% per year) and the United States (+15.6% per year).
Import Prices by Country
The average twig broom import price stood at $X per unit in 2021, growing by 25% against the previous year. In general, import price indicated strong growth from 2012 to 2021: its price increased at an average annual rate of +5.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2016 when the average import price increased by 57% against the previous year. The import price peaked in 2021 and is likely to see steady growth in the near future.
There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the United States ($X per unit), while the price for China ($X per unit) was amongst the lowest.
From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+4.5%), while the prices for the other major suppliers experienced more modest paces of growth.
Source: IndexBox Platform
Frequently Asked Questions (FAQ) :
This report provides an in-depth analysis of the twig broom market 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 32911110 - Brooms and brushes of twigs or other vegetable materials, b ound together
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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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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- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- 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
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume 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, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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