Hong Kong SAR, China: Market for Caviar (Salmon) And Caviar Substitutes 2024

Market Size for Caviar (Salmon) And Caviar Substitutes in Hong Kong SAR, China

In 2021, the Hong Kong market for caviar (salmon) and caviar substitutes was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. Overall, consumption, however, recorded a perceptible setback. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Production of Caviar (Salmon) And Caviar Substitutes in Hong Kong SAR, China

In value terms, caviar (salmon) and caviar substitutes production rose modestly to $X in 2021 estimated in export price. In general, production showed a pronounced decrease. The most prominent rate of growth was recorded in 2018 when the production volume increased by 29%. As a result, production attained the peak level of $X. From 2019 to 2021, production growth failed to regain momentum.

Exports of Caviar (Salmon) And Caviar Substitutes

Exports from Hong Kong SAR, China

In 2021, after two years of decline, there was significant growth in overseas shipments of caviar (salmon) and caviar substitutes, when their volume increased by 36% to X kg. In general, exports, however, faced a sharp curtailment. The exports peaked at X tons in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, caviar (salmon) and caviar substitutes exports declined to $X in 2021. Over the period under review, exports, however, continue to indicate a deep downturn. The smallest decline of -3.8% was in 2015. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Panama (X kg) was the main destination for caviar (salmon) and caviar substitutes exports from Hong Kong SAR, accounting for a 92% share of total exports. Moreover, caviar (salmon) and caviar substitutes exports to Panama exceeded the volume sent to the second major destination, Macao SAR (X kg), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Panama was relatively modest.

In value terms, Panama ($X) emerged as the key foreign market for caviar (salmon) and caviar substitutes exports from Hong Kong SAR, comprising 84% of total exports. The second position in the ranking was taken by Macao SAR ($X), with a 16% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Panama was relatively modest.

Export Prices by Country

In 2021, the average export price for caviar (salmon) and caviar substitutes amounted to $X per ton, dropping by -31.9% against the previous year. Over the period under review, the export price, however, showed measured growth. The growth pace was the most rapid in 2017 when the average export price increased by 60%. The export price peaked at $X per ton in 2020, and then contracted rapidly in the following year.

Prices varied noticeably country of destination: the country with the highest price was Macao SAR ($X per ton), while the average price for exports to Panama totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Macao SAR (+14.2%).

Imports of Caviar (Salmon) And Caviar Substitutes

Imports into Hong Kong SAR, China

In 2021, approx. X tons of caviar (salmon) and caviar substitutes were imported into Hong Kong SAR; growing by 188% compared with 2020 figures. Over the period under review, imports posted resilient growth. The most prominent rate of growth was recorded in 2018 with an increase of 334%. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, caviar (salmon) and caviar substitutes imports soared to $X in 2021. In general, imports saw resilient growth. The pace of growth appeared the most rapid in 2018 with an increase of 439% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Japan (X tons) constituted the largest caviar (salmon) and caviar substitutes supplier to Hong Kong SAR, with a 75% share of total imports. Moreover, caviar (salmon) and caviar substitutes imports from Japan exceeded the figures recorded by the second-largest supplier, Germany (X kg), more than tenfold. Taiwan (Chinese) (X kg) ranked third in terms of total imports with a 4.6% share.

From 2012 to 2021, the average annual growth rate of volume from Japan totaled +17.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+3.6% per year) and Taiwan (Chinese) (+53.9% per year).

In value terms, Japan ($X) constituted the largest supplier of caviar (salmon) and caviar substitutes to Hong Kong SAR, comprising 81% of total imports. The second position in the ranking was held by Germany ($X), with a 4.8% share of total imports. It was followed by Taiwan (Chinese), with a 2.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Japan amounted to +17.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+1.0% per year) and Taiwan (Chinese) (+70.6% per year).

Import Prices by Country

The average import price for caviar (salmon) and caviar substitutes stood at $X per ton in 2021, rising by 2.8% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 an increase of 24% against the previous year. The import price peaked at $X per ton in 2019; however, from 2020 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Japan ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Canada (+13.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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