Hong Kong SAR, China: Preserved Fish Fillet Market 2024

Preserved Fish Fillet Market Size in Hong Kong SAR, China

In 2021, after three years of growth, there was decline in the Hong Kong preserved fish fillet market, when its value decreased by -0.8% to $X. The market value increased at an average annual rate of +4.9% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Preserved fish fillet consumption peaked at $X in 2016; however, from 2017 to 2021, consumption stood at a somewhat lower figure.

Preserved Fish Fillet Production in Hong Kong SAR, China

In value terms, preserved fish fillet production shrank slightly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +4.7% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2013 with an increase of 40%. Preserved fish fillet production peaked at $X in 2016; however, from 2017 to 2021, production remained at a lower figure.

Preserved Fish Fillet Exports

Exports from Hong Kong SAR, China

In 2021, shipments abroad of fish fillets (dried, salted or in brine, but not smoked) decreased by -49.1% to X kg, falling for the second year in a row after two years of growth. In general, exports continue to indicate a dramatic shrinkage. The pace of growth appeared the most rapid in 2019 with an increase of 286% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, preserved fish fillet exports dropped notably to $X in 2021. Overall, exports showed a dramatic downturn. The pace of growth was the most pronounced in 2018 with an increase of 129% against the previous year. Over the period under review, the exports reached the maximum at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

Canada (X kg) was the main destination for preserved fish fillet exports from Hong Kong SAR, accounting for a approx. 100% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to Canada amounted to +5.1%.

In value terms, Canada ($X) also remains the key foreign market for fish fillets (dried, salted or in brine, but not smoked) exports from Hong Kong SAR.

From 2012 to 2021, the average annual rate of growth in terms of value to Canada totaled +10.1%.

Export Prices by Country

The average preserved fish fillet export price stood at $X per ton in 2021, shrinking by -3.2% against the previous year. In general, the export price, however, enjoyed a buoyant increase. The pace of growth was the most pronounced in 2020 when the average export price increased by 282% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2015; however, from 2016 to 2021, the export prices stood at a somewhat lower figure.

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

From 2012 to 2021, the rate of growth in terms of prices for the United States amounted to +9.0% per year.

Preserved Fish Fillet Imports

Imports into Hong Kong SAR, China

In 2021, after two years of growth, there was significant decline in overseas purchases of fish fillets (dried, salted or in brine, but not smoked), when their volume decreased by -41.3% to X tons. In general, imports saw a abrupt shrinkage. The growth pace was the most rapid in 2019 when imports increased by 111%. Over the period under review, imports attained the peak figure at X tons in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, preserved fish fillet imports reduced rapidly to $X in 2021. Overall, imports recorded a abrupt contraction. The growth pace was the most rapid in 2019 when imports increased by 77% against the previous year. Over the period under review, imports attained the peak figure at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Myanmar (X tons) constituted the largest preserved fish fillet supplier to Hong Kong SAR, accounting for a 63% share of total imports. Moreover, preserved fish fillet imports from Myanmar exceeded the figures recorded by the second-largest supplier, Japan (X tons), threefold.

From 2012 to 2021, the average annual rate of growth in terms of volume from Myanmar was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-7.9% per year) and Oman (-33.6% per year).

In value terms, Myanmar ($X) constituted the largest supplier of fish fillets (dried, salted or in brine, but not smoked) to Hong Kong SAR, comprising 64% of total imports. The second position in the ranking was held by Japan ($X), with a 19% share of total imports.

From 2012 to 2021, the average annual growth rate of value from Myanmar was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-8.8% per year) and Oman (-33.1% per year).

Import Prices by Country

The average preserved fish fillet import price stood at $X per ton in 2021, declining by -4.7% against the previous year. In general, the import price, however, continues to indicate a resilient increase. The pace of growth appeared the most rapid in 2013 an increase of 83% against the previous year. The import price peaked at $X per ton in 2018; however, from 2019 to 2021, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, the country with the highest price was Myanmar ($X per ton), while the price for Japan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+6.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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