Report Update Nov 1, 2024

Hong Kong SAR, China - Cherries - Market Analysis, Forecast, Size, Trends and Insights

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Hong Kong SAR, China: Cherry Market 2024

Cherry Market Size in Hong Kong SAR, China

After four years of growth, the Hong Kong cherry market decreased by -72.8% to $X in 2022. Overall, consumption showed a pronounced decline. As a result, consumption attained the peak level of $X, and then dropped significantly in the following year.

Cherry Production in Hong Kong SAR, China

In value terms, cherry production skyrocketed to $X in 2022 estimated in export price. In general, production, however, showed a abrupt descent. Over the period under review, production reached the peak level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

The average yield of cherries in Hong Kong SAR was estimated at less than X kg per ha in 2022, standing approx. at 2021. Overall, the yield recorded a relatively flat trend pattern. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the harvested area of cherries in Hong Kong SAR totaled less than X ha, flattening at 2021 figures. In general, the harvested area continues to indicate a relatively flat trend pattern.

Cherry Exports

Exports from Hong Kong SAR, China

Cherry exports from Hong Kong SAR declined to X tons in 2022, remaining constant against the previous year. Over the period under review, exports, however, enjoyed a significant expansion. The growth pace was the most rapid in 2014 with an increase of 160%. The exports peaked at X tons in 2021, and then reduced modestly in the following year.

In value terms, cherry exports surged to $X in 2022. In general, exports, however, saw a significant expansion. The pace of growth appeared the most rapid in 2018 with an increase of 115%. Over the period under review, the exports attained the maximum in 2022 and are likely to continue growth in the immediate term.

Exports by Country

China (X tons) was the main destination for cherry exports from Hong Kong SAR, accounting for a approx. 100% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to China stood at +26.2%.

In value terms, China ($X) also remains the key foreign market for cherries exports from Hong Kong SAR.

From 2012 to 2022, the average annual rate of growth in terms of value to China stood at +29.4%.

Export Prices by Country

In 2022, the average cherry export price amounted to $X per ton, jumping by 20% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.5%. The pace of growth appeared the most rapid in 2013 when the average export price increased by 32% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2022, the average export prices remained at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for China.

From 2012 to 2022, the rate of growth in terms of prices for China amounted to +2.6% per year.

Cherry Imports

Imports into Hong Kong SAR, China

Cherry imports into Hong Kong SAR dropped rapidly to X tons in 2022, shrinking by -20.8% against the previous year's figure. Overall, imports, however, saw a remarkable increase. The most prominent rate of growth was recorded in 2018 with an increase of 97% against the previous year. Over the period under review, imports hit record highs at X tons in 2021, and then contracted rapidly in the following year.

In value terms, cherry imports contracted remarkably to $X in 2022. Over the period under review, imports, however, recorded resilient growth. The pace of growth was the most pronounced in 2018 when imports increased by 89% against the previous year. Imports peaked at $X in 2021, and then plummeted in the following year.

Imports by Country

In 2022, Chile (X tons) was the main supplier of cherry to Hong Kong SAR, with a 97% share of total imports. It was followed by the United States (X tons), with a 0.9% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from Chile totaled +23.3%.

In value terms, Chile ($X) constituted the largest supplier of cherries to Hong Kong SAR, comprising 96% of total imports. The second position in the ranking was taken by the United States ($X), with a 1.2% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Chile amounted to +25.3%.

Import Prices by Country

The average cherry import price stood at $X per ton in 2022, with an increase of 6.4% against the previous year. Overall, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the average import price increased by 15%. As a result, import price attained the peak level of $X per ton. From 2014 to 2022, the average import prices remained at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Chile amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+3.3%).

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for cherries in the world?

Turkey constituted the country with the largest volume of cherry consumption, comprising approx. 24% of total volume. Moreover, cherry consumption in Turkey exceeded the figures recorded by the second-largest consumer, the United States, threefold. China ranked third in terms of total consumption with an 8.5% share.

What are the largest producers of cherries in the world?

Turkey constituted the country with the largest volume of cherry production, comprising approx. 26% of total volume. Moreover, cherry production in Turkey exceeded the figures recorded by the second-largest producer, the United States, twofold. The third position in this ranking was occupied by Chile, with a 9.7% share.

What are the leading suppliers of cherries to Hong Kong SAR, China?

In value terms, Chile constituted the largest supplier of cherry to Hong Kong SAR.

What are the leading importers of cherries from Hong Kong SAR, China?

In value terms, China remains the key foreign market for cherry exports from Hong Kong SAR.

What is the average export price for cherries in Hong Kong SAR, China?

The average cherry export price stood at $4,507 per ton in 2021, shrinking by -12.4% against the previous year.

What is the average import price for cherries in Hong Kong SAR, China?

The average cherry import price stood at $5,603 per ton in 2021, waning by -5% against the previous year.

This report provides an in-depth analysis of the cherry 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:

FCL 531 - Cherries

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.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
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
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. COUNTRIES WITH TOP YIELDS
4. TOP EXPORTING COUNTRIES
5. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION, HARVESTED AREA AND YIELD
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
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
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Yield And Growth
16. Exports And Growth
17. Export Prices And Growth
18. Market Size And Growth
19. Per Capita Consumption
20. Imports And Growth
21. Import Prices
22. Production, In Physical Terms, 2012–2023
23. Production, In Value Terms, 2012–2023
24. Area Harvested, 2012–2023
25. Yield, 2012–2023
26. Imports, In Physical Terms, 2012–2023
27. Imports, In Value Terms, 2012–2023
28. Imports, In Physical Terms, By Country, 2023
29. Imports, In Physical Terms, By Country, 2012–2023
30. Imports, In Value Terms, By Country, 2012–2023
31. Import Prices, By Country Of Origin, 2012–2023
32. Exports, In Physical Terms, 2012–2023
33. Exports, In Value Terms, 2012–2023
34. Exports, In Physical Terms, By Country, 2023
35. Exports, In Physical Terms, By Country, 2012–2023
36. Exports, In Value Terms, By Country, 2012–2023
37. Export Prices, By Country Of Destination, 2012–2023