Hong Kong SAR, China: Wood Barrel Market 2025

Wood Barrel Market Size in Hong Kong SAR, China

The Hong Kong wood barrel market shrank to $X in 2022, with a decrease of -7.5% against the previous year. The market value increased at an average annual rate of +1.5% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market remained at a somewhat lower figure.

Wood Barrel Production in Hong Kong SAR, China

In value terms, wood barrel production declined to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.8% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2014 with an increase of 37% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2022, production growth failed to regain momentum.

Wood Barrel Exports

Exports from Hong Kong SAR, China

In 2022, overseas shipments of casks, barrels, vats, tubs, and coopers products of wood increased by 91% to X units, rising for the second year in a row after four years of decline. In general, exports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2013 when exports increased by 147% against the previous year. The exports peaked at X units in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, wood barrel exports skyrocketed to $X in 2022. Over the period under review, exports posted a measured increase. The pace of growth was the most pronounced in 2013 with an increase of 260% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Taiwan (Chinese) (X units) was the main destination for wood barrel exports from Hong Kong SAR, with a 93% share of total exports. Moreover, wood barrel exports to Taiwan (Chinese) exceeded the volume sent to the second major destination, the United States (X units), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to Taiwan (Chinese) amounted to +79.0%.

In value terms, Taiwan (Chinese) ($X) remains the key foreign market for casks, barrels, vats, tubs, and coopers products of wood exports from Hong Kong SAR, comprising 97% of total exports. The second position in the ranking was taken by the United States ($X), with a 1.9% share of total exports. It was followed by Singapore, with a 0.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Taiwan (Chinese) stood at +62.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-1.6% per year) and Singapore (-40.3% per year).

Export Prices by Country

The average wood barrel export price stood at $X per unit in 2022, falling by -10.1% against the previous year. In general, export price indicated notable growth from 2012 to 2022: its price increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, wood barrel export price increased by +20.6% against 2020 indices. The pace of growth was the most pronounced in 2013 an increase of 46%. Over the period under review, the average export prices attained the peak figure at $X per unit in 2021, and then fell in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($X per unit), while the average price for exports to China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (+7.4%), while the prices for the other major destinations experienced mixed trend patterns.

Wood Barrel Imports

Imports into Hong Kong SAR, China

In 2022, the amount of casks, barrels, vats, tubs, and coopers products of wood imported into Hong Kong SAR fell rapidly to X units, reducing by -90.1% on the year before. Over the period under review, imports showed a deep slump. The pace of growth appeared the most rapid in 2021 when imports increased by 203%. As a result, imports attained the peak of X units, and then shrank dramatically in the following year.

In value terms, wood barrel imports declined rapidly to $X in 2022. In general, imports recorded a noticeable setback. The most prominent rate of growth was recorded in 2021 with an increase of 193% against the previous year. As a result, imports attained the peak of $X, and then contracted sharply in the following year.

Imports by Country

In 2022, China (X units) constituted the largest supplier of wood barrel to Hong Kong SAR, with a 80% share of total imports. Moreover, wood barrel imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X units), sevenfold. The United States (X units) ranked third in terms of total imports with a 3.8% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to -8.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+22.7% per year) and the United States (-7.4% per year).

In value terms, China ($X) constituted the largest supplier of casks, barrels, vats, tubs, and coopers products of wood to Hong Kong SAR, comprising 76% of total imports. The second position in the ranking was held by Taiwan (Chinese) ($X), with an 11% share of total imports. It was followed by Japan, with a 7.9% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to +5.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+14.7% per year) and Japan (-7.6% per year).

Import Prices by Country

In 2022, the average wood barrel import price amounted to $X per unit, rising by 21% against the previous year. In general, the import price enjoyed a prominent increase. The pace of growth appeared the most rapid in 2020 when the average import price increased by 75%. The import price peaked in 2022 and is likely to see gradual growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Japan ($X per unit), while the price for the United States ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+14.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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