Hong Kong SAR, China: Market for Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs 2024

Market Size for Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs in Hong Kong SAR, China

The Hong Kong seafood meals and pellets market soared to $X in 2021, with an increase of 118% against the previous year. Over the period under review, consumption showed strong growth. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Production of Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs in Hong Kong SAR, China

In value terms, seafood meals and pellets production skyrocketed to $X in 2021 estimated in export price. In general, production, however, recorded prominent growth. The pace of growth appeared the most rapid in 2017 when the production volume increased by 51% against the previous year. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Exports of Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs

Exports from Hong Kong SAR, China

In 2021, shipments abroad of flours, meals and pellets of fish or of crustaceans and molluscs increased by 4.5% to X tons, rising for the second year in a row after five years of decline. Over the period under review, exports, however, showed a abrupt curtailment. The pace of growth appeared the most rapid in 2014 when exports increased by 1,154%. As a result, the exports attained the peak of X tons. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, seafood meals and pellets exports fell markedly to $X in 2021. Overall, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when exports increased by 326%. Over the period under review, the exports attained the maximum at $X in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

China (X tons), Seychelles (X tons) and Japan (X tons) were the main destinations of seafood meals and pellets exports from Hong Kong SAR, together comprising 99.9% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by China (with a CAGR of +17.5%), while the other leaders experienced mixed trend patterns.

In value terms, China ($X) remains the key foreign market for flours, meals and pellets of fish or of crustaceans and molluscs exports from Hong Kong SAR, comprising 74% of total exports. The second position in the ranking was taken by Seychelles ($X), with a 20% share of total exports.

From 2012 to 2021, the average annual growth rate of value to China stood at +19.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Seychelles (0.0% per year) and Japan (-5.7% per year).

Export Prices by Country

The average seafood meals and pellets export price stood at $X per ton in 2021, shrinking by -23.2% against the previous year. In general, the export price, however, showed a strong expansion. The pace of growth was the most pronounced in 2013 an increase of 236% against the previous year. The export price peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was China ($X per ton), while the average price for exports to Japan ($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 (+26.7%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs

Imports into Hong Kong SAR, China

In 2021, overseas purchases of flours, meals and pellets of fish or of crustaceans and molluscs increased by 729% to X tons, rising for the third consecutive year after two years of decline. Over the period under review, imports enjoyed significant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, seafood meals and pellets imports surged to $X in 2021. In general, imports recorded a significant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Peru (X tons) was the main seafood meals and pellets supplier to Hong Kong SAR, with a 92% share of total imports. Moreover, seafood meals and pellets imports from Peru exceeded the figures recorded by the second-largest supplier, Denmark (X tons), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume from Peru stood at +47.6%.

In value terms, Peru ($X) constituted the largest supplier of flours, meals and pellets of fish or of crustaceans and molluscs to Hong Kong SAR, comprising 90% of total imports. The second position in the ranking was held by Denmark ($X), with a 9.3% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from Peru amounted to +42.5%.

Import Prices by Country

In 2021, the average seafood meals and pellets import price amounted to $X per ton, reducing by -13.9% against the previous year. Overall, the import price, however, recorded a mild expansion. The growth pace was the most rapid in 2013 when the average import price increased by 18% against the previous year. The import price peaked at $X per ton in 2019; however, from 2020 to 2021, import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2021, the country with the highest price was Denmark ($X per ton), while the price for Peru amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+27.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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