Hong Kong SAR, China: Market for Colouring Matter Of Vegetable Or Animal Origin 2024

Market Size for Colouring Matter Of Vegetable Or Animal Origin in Hong Kong SAR, China

The Hong Kong market for colouring matter of vegetable or animal origin rose significantly to $X in 2021, surging by 6.6% against the previous year. Overall, the total consumption indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +5.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -9.8% against 2019 indices. As a result, consumption attained the peak level of $X. From 2020 to 2021, the growth of the market failed to regain momentum.

Production of Colouring Matter Of Vegetable Or Animal Origin in Hong Kong SAR, China

In value terms, vegetable or animal colouring matter production rose markedly to $X in 2021 estimated in export price. Over the period under review, the total production indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +6.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -10.0% against 2019 indices. The growth pace was the most rapid in 2019 when the production volume increased by 24% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2021, production growth failed to regain momentum.

Exports of Colouring Matter Of Vegetable Or Animal Origin

Exports from Hong Kong SAR, China

In 2021, vegetable or animal colouring matter exports from Hong Kong SAR contracted dramatically to X tons, shrinking by -35.1% against 2020 figures. In general, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of 571% against the previous year. As a result, the exports attained the peak of X tons. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, vegetable or animal colouring matter exports contracted rapidly to $X in 2021. Over the period under review, exports, however, enjoyed a temperate increase. The most prominent rate of growth was recorded in 2014 with an increase of 274% against the previous year. Over the period under review, the exports attained the maximum at $X in 2020, and then dropped sharply in the following year.

Exports by Country

China (X tons) was the main destination for vegetable or animal colouring matter exports from Hong Kong SAR, with a 95% share of total exports. Moreover, vegetable or animal colouring matter exports to China exceeded the volume sent to the second major destination, the United States (X kg), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to China totaled +6.4%.

In value terms, China ($X) remains the key foreign market for colouring matter of vegetable or animal origin exports from Hong Kong SAR, comprising 68% of total exports. The second position in the ranking was taken by the United States ($X), with an 11% share of total exports.

From 2012 to 2021, the average annual growth rate of value to China amounted to +6.6%.

Export Prices by Country

In 2021, the average export price for colouring matter of vegetable or animal origin amounted to $X per ton, remaining relatively unchanged against the previous year. Overall, the export price, however, enjoyed noticeable growth. The pace of growth appeared the most rapid in 2019 when the average export price increased by 167% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2020 to 2021, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to China amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Thailand (+40.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Colouring Matter Of Vegetable Or Animal Origin

Imports into Hong Kong SAR, China

In 2021, purchases abroad of colouring matter of vegetable or animal origin decreased by -66.2% to X tons for the first time since 2018, thus ending a two-year rising trend. In general, imports saw a noticeable decrease. The pace of growth appeared the most rapid in 2014 with an increase of 250%. Imports peaked at X tons in 2020, and then declined remarkably in the following year.

In value terms, vegetable or animal colouring matter imports declined markedly to $X in 2021. Over the period under review, imports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 with an increase of 345%. Over the period under review, imports attained the peak figure at $X in 2020, and then reduced markedly in the following year.

Imports by Country

Japan (X tons), the United States (X tons) and China (X tons) were the main suppliers of vegetable or animal colouring matter imports to Hong Kong SAR, together comprising 80% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Japan (with a CAGR of +43.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), the United States ($X) and Japan ($X) constituted the largest vegetable or animal colouring matter suppliers to Hong Kong SAR, with a combined 91% share of total imports. These countries were followed by the UK and Taiwan (Chinese), which together accounted for a further 8.3%.

Among the main suppliers, Taiwan (Chinese), with a CAGR of +43.9%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for colouring matter of vegetable or animal origin stood at $X per ton in 2021, shrinking by -32.6% against the previous year. Overall, the import price, however, enjoyed a pronounced expansion. The pace of growth was the most pronounced in 2015 an increase of 177%. The import price peaked at $X per ton in 2019; however, from 2020 to 2021, import prices remained at a lower figure.

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 China ($X per ton), while the price for the UK ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+62.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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