Hong Kong SAR, China: Battered Fish Fillet Market 2024

Battered Fish Fillet Market Size in Hong Kong SAR, China

The Hong Kong battered fish fillet market reduced dramatically to $X in 2021, dropping by -16.6% against the previous year. Overall, consumption, however, enjoyed strong growth. Over the period under review, the market attained the maximum level at $X in 2020, and then shrank sharply in the following year.

Battered Fish Fillet Production in Hong Kong SAR, China

In value terms, battered fish fillet production shrank rapidly to $X in 2021 estimated in export price. Overall, production, however, continues to indicate resilient growth. The most prominent rate of growth was recorded in 2017 when the production volume increased by 385% against the previous year. Over the period under review, production hit record highs at $X in 2020, and then fell remarkably in the following year.

Battered Fish Fillet Exports

Exports from Hong Kong SAR, China

Battered fish fillet exports from Hong Kong SAR expanded markedly to X tons in 2021, rising by 7.1% compared with 2020. Over the period under review, exports, however, saw a abrupt contraction. The pace of growth was the most pronounced in 2019 when exports increased by 164%. Over the period under review, the exports attained the peak figure at X tons in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

In value terms, battered fish fillet exports contracted slightly to $X in 2021. Overall, exports, however, saw a noticeable descent. The pace of growth was the most pronounced in 2017 when exports increased by 113%. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

Macao SAR (X tons) was the main destination for battered fish fillet exports from Hong Kong SAR, with a 53% share of total exports. Moreover, battered fish fillet exports to Macao SAR exceeded the volume sent to the second major destination, Canada (X tons), twofold. The third position in this ranking was held by the United States (X tons), with a 17% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Macao SAR was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (-2.8% per year) and the United States (-12.7% per year).

In value terms, the largest markets for battered fish fillet exported from Hong Kong SAR were Macao SAR ($X), Canada ($X) and the United States ($X), together comprising 97% of total exports.

Macao SAR, with a CAGR of +6.0%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2021, the average battered fish fillet export price amounted to $X per ton, dropping by -9.6% against the previous year. Overall, the export price, however, showed a strong increase. The growth pace was the most rapid in 2020 an increase of 85% against the previous year. As a result, the export price attained the peak level of $X per ton, and then reduced in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (+16.7%), while the prices for the other major destinations experienced more modest paces of growth.

Battered Fish Fillet Imports

Imports into Hong Kong SAR, China

In 2021, approx. X tons of fish fillets in batter or breadcrumbs were imported into Hong Kong SAR; dropping by -14.2% compared with 2020. Overall, imports continue to indicate a pronounced reduction. The growth pace was the most rapid in 2016 with an increase of 62% against the previous year. As a result, imports reached the peak of X tons. From 2017 to 2021, the growth of imports remained at a lower figure.

In value terms, battered fish fillet imports shrank sharply to $X in 2021. In general, imports recorded a pronounced contraction. The pace of growth was the most pronounced in 2016 when imports increased by 67%. As a result, imports attained the peak of $X. From 2017 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of battered fish fillet to Hong Kong SAR, accounting for a 62% share of total imports. Moreover, battered fish fillet imports from China exceeded the figures recorded by the second-largest supplier, Vietnam (X tons), eightfold. The third position in this ranking was held by Singapore (X tons), with a 5.9% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to -4.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+21.3% per year) and Singapore (+82.6% per year).

In value terms, China ($X) constituted the largest supplier of fish fillets in batter or breadcrumbs to Hong Kong SAR, comprising 56% of total imports. The second position in the ranking was held by Japan ($X), with a 9.1% share of total imports. It was followed by Vietnam, with a 5.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at -3.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-4.7% per year) and Vietnam (+12.8% per year).

Import Prices by Country

In 2021, the average battered fish fillet import price amounted to $X per ton, stabilizing at the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 an increase of 34% against the previous year. As a result, import price reached the peak level of $X per ton. From 2019 to 2021, the average import prices remained at a somewhat 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 Japan ($X per ton), while the price for Singapore ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by New Zealand (+4.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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