Hong Kong SAR, China: Egg Product Market 2024

Egg Product Market Size in Hong Kong SAR, China

In 2021, the Hong Kong egg product market increased by 2.5% to $X, rising for the second year in a row after three years of decline. Overall, the total consumption indicated a slight expansion from 2012 to 2021: its value increased at an average annual rate of +1.8% 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 increased by +2.8% against 2019 indices. As a result, consumption reached the peak level of $X. From 2017 to 2021, the growth of the market remained at a lower figure.

Egg Product Production in Hong Kong SAR, China

In value terms, egg product production shrank to $X in 2021 estimated in export price. Over the period under review, the total production indicated a modest expansion from 2012 to 2021: its value increased at an average annual rate of +1.6% 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 increased by +6.0% against 2019 indices. The pace of growth appeared the most rapid in 2016 when the production volume increased by 67%. As a result, production attained the peak level of $X. From 2017 to 2021, production growth remained at a lower figure.

Egg Product Exports

Exports from Hong Kong SAR, China

In 2021, egg product exports from Hong Kong SAR expanded to X tons, picking up by 2.1% compared with 2020 figures. Over the period under review, exports, however, continue to indicate a deep reduction. The growth pace was the most rapid in 2016 when exports increased by 84%. The exports peaked at X tons in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, egg product exports skyrocketed to $X in 2021. Overall, exports, however, showed a perceptible shrinkage. The pace of growth was the most pronounced in 2016 with an increase of 75% against the previous year. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Macao SAR (X tons) was the main destination for egg product exports from Hong Kong SAR, accounting for a 86% share of total exports. Moreover, egg product exports to Macao SAR exceeded the volume sent to the second major destination, the United States (X tons), sixfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Macao SAR amounted to -7.1%.

In value terms, Macao SAR ($X) remains the key foreign market for egg products exports from Hong Kong SAR, comprising 67% of total exports. The second position in the ranking was held by the United States ($X), with a 32% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Macao SAR totaled -7.0%.

Export Prices by Country

The average egg product export price stood at $X per ton in 2021, growing by 17% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.8%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was the United States ($X per ton), while the average price for exports to Macao SAR stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+73.9%).

Egg Product Imports

Imports into Hong Kong SAR, China

In 2021, approx. X tons of egg products were imported into Hong Kong SAR; with an increase of 28% compared with the previous year. The total import volume increased at an average annual rate of +2.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, imports attained the peak figure at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, egg product imports surged to $X in 2021. The total import value increased at an average annual rate of +5.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

The United States (X tons), China (X tons) and Japan (X tons) were the main suppliers of egg product imports to Hong Kong SAR, with a combined 60% share of total imports. Canada, Malaysia, Denmark, Belgium and Australia lagged somewhat behind, together comprising a further 36%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Malaysia (with a CAGR of +78.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of egg products to Hong Kong SAR, comprising 39% of total imports. The second position in the ranking was taken by the United States ($X), with a 16% share of total imports. It was followed by Japan, with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +13.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-3.0% per year) and Japan (+1.4% per year).

Import Prices by Country

In 2021, the average egg product import price amounted to $X per ton, increasing by 25% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.1%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was China ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+6.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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