Hong Kong SAR, China: Agricultural Product Dryer Market 2024

Agricultural Product Dryer Market Size in Hong Kong SAR, China

For the third year in a row, the Hong Kong agricultural product dryer market recorded growth in sales value, which increased by 58% to $X in 2021. In general, consumption, however, continues to indicate a noticeable curtailment. Agricultural product dryer consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Agricultural Product Dryer Production in Hong Kong SAR, China

In value terms, agricultural product dryer production fell to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a perceptible slump. The most prominent rate of growth was recorded in 2017 with an increase of 37% against the previous year. Over the period under review, production reached the peak level at $X in 2013; however, from 2014 to 2021, production remained at a lower figure.

Agricultural Product Dryer Exports

Exports from Hong Kong SAR, China

In 2021, approx. X units of dryers for the treatment of agricultural products were exported from Hong Kong SAR; picking up by 1,700% compared with 2020. Over the period under review, exports saw a strong increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, agricultural product dryer exports surged to $X in 2021. In general, exports showed a buoyant expansion. The exports peaked at $X in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

Exports by Country

China (X units) was the main destination for agricultural product dryer exports from Hong Kong SAR, accounting for a 67% share of total exports. Moreover, agricultural product dryer exports to China exceeded the volume sent to the second major destination, Sri Lanka (X units), sixfold. The third position in this ranking was taken by the Philippines (X units), with a 5.6% share.

From 2012 to 2021, the average annual growth rate of volume to China amounted to +25.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sri Lanka (0.0% per year) and the Philippines (0.0% per year).

In value terms, the largest markets for agricultural product dryer exported from Hong Kong SAR were China ($X), Canada ($X) and Malaysia ($X), together comprising 23% of total exports.

Among the main countries of destination, Canada, with a CAGR of +44.0%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average agricultural product dryer export price amounted to $X per unit, reducing by -5.5% against the previous year. In general, the export price continues to indicate a pronounced reduction. The growth pace was the most rapid in 2015 when the average export price increased by 41% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per unit in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Canada (+84.6%), while the prices for the other major destinations experienced more modest paces of growth.

Agricultural Product Dryer Imports

Imports into Hong Kong SAR, China

In 2021, agricultural product dryer imports into Hong Kong SAR soared to X units, increasing by 6,700% against the year before. Overall, imports, however, continue to indicate a abrupt shrinkage. Over the period under review, imports hit record highs at X units in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, agricultural product dryer imports soared to $X in 2021. In general, imports, however, continue to indicate a abrupt decrease. Imports peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

China (X units), Thailand (X units) and Germany (X units) were the main suppliers of agricultural product dryer imports to Hong Kong SAR, with a combined 10% share of total imports. Moreover, agricultural product dryer imports in China exceeded the figures recorded by the second-largest supplier, Thailand, twofold.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Thailand (with a CAGR of 0.0%), while imports for the other leaders experienced a decline.

In value terms, Singapore ($X) constituted the largest supplier of dryers for the treatment of agricultural products to Hong Kong SAR, comprising 32% of total imports. The second position in the ranking was held by China ($X), with a 12% share of total imports. It was followed by the United States, with a 3% share.

From 2012 to 2021, the average annual growth rate of value from Singapore totaled +31.6%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+33.4% per year) and the United States (-25.5% per year).

Import Prices by Country

In 2021, the average agricultural product dryer import price amounted to $X per unit, rising by 3.5% against the previous year. Over the period under review, the import price enjoyed a pronounced expansion. The most prominent rate of growth was recorded in 2020 when the average import price increased by 183% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2016; however, from 2017 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Singapore ($X per unit), while the price for Thailand ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+886.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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