Hong Kong SAR, China: Market for Dried Or Salted Fish 2024

Market Size for Dried Or Salted Fish in Hong Kong SAR, China

The Hong Kong dried or salted fish market dropped to $X in 2021, shrinking by -3.3% against the previous year. In general, consumption continues to indicate a abrupt downturn. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Production of Dried Or Salted Fish in Hong Kong SAR, China

In value terms, dried or salted fish production soared to $X in 2021 estimated in export price. Overall, production continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2014 with an increase of 212%. As a result, production attained the peak level of $X. From 2015 to 2021, production growth remained at a lower figure.

Exports of Dried Or Salted Fish

Exports from Hong Kong SAR, China

In 2021, overseas shipments of dried or salted fish decreased by -9.7% to X tons, falling for the fourth year in a row after two years of growth. Overall, exports continue to indicate a precipitous slump. The most prominent rate of growth was recorded in 2017 with an increase of 29%. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, dried or salted fish exports amounted to $X in 2021. Over the period under review, exports continue to indicate a deep contraction. The pace of growth was the most pronounced in 2017 with an increase of 22% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Vietnam (X tons), Macao SAR (X tons) and the United States (X tons) were the main destinations of dried or salted fish exports from Hong Kong SAR, together comprising 74% of total exports. These countries were followed by Canada and China, which together accounted for a further 24%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Canada (with a CAGR of -8.2%), while the other leaders experienced a decline.

In value terms, Vietnam ($X), Macao SAR ($X) and the United States ($X) constituted the largest markets for dried or salted fish exported from Hong Kong SAR worldwide, with a combined 76% share of total exports. These countries were followed by Canada and China, which together accounted for a further 18%.

Canada, with a CAGR of -12.2%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2021, the average dried or salted fish export price amounted to $X per ton, increasing by 19% against the previous year. In general, export price indicated a resilient expansion from 2012 to 2021: its price increased at an average annual rate of +7.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, dried or salted fish export price decreased by -23.8% against 2018 indices. The most prominent rate of growth was recorded in 2014 when the average export price increased by 73% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Vietnam ($X per ton), while the average price for exports to China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (+14.5%), while the prices for the other major destinations experienced a decline.

Imports of Dried Or Salted Fish

Imports into Hong Kong SAR, China

In 2021, approx. X tons of dried or salted fish were imported into Hong Kong SAR; with a decrease of -18.9% on the year before. In general, imports recorded a abrupt decline. The pace of growth appeared the most rapid in 2017 when imports increased by 4.4%. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, dried or salted fish imports dropped notably to $X in 2021. Overall, imports saw a sharp contraction. The smallest decline of -4% was in 2015. Imports peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

Vietnam (X tons), Thailand (X tons) and Japan (X tons) were the main suppliers of dried or salted fish imports to Hong Kong SAR, together accounting for 58% of total imports. China, Indonesia, Bangladesh, South Korea, Uganda and Brazil lagged somewhat behind, together accounting for a further 29%.

From 2012 to 2021, the biggest increases were recorded for South Korea (with a CAGR of -1.3%), while purchases for the other leaders experienced a decline.

In value terms, the largest dried or salted fish suppliers to Hong Kong SAR were Japan ($X), Vietnam ($X) and Thailand ($X), with a combined 50% share of total imports. Indonesia, South Korea, China, Bangladesh, Uganda and Brazil lagged somewhat behind, together comprising a further 23%.

Among the main suppliers, South Korea, with a CAGR of +2.8%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average dried or salted fish import price stood at $X per ton in 2021, rising by 1.5% against the previous year. Overall, the import price, however, showed a abrupt descent. The pace of growth was the most pronounced in 2019 an increase of 18%. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (+5.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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