Report Update Nov 1, 2024

Hong Kong SAR, China - Fresh or Chilled Carcases of Beef and Veal - Market Analysis, Forecast, Size, Trends and Insights

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Hong Kong SAR, China: Fresh Beef Carcase Market 2024

Fresh Beef Carcase Market Size in Hong Kong SAR, China

The Hong Kong fresh beef carcase market was finally on the rise to reach $X in 2022, after two years of decline. In general, consumption, however, saw a slight increase. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market remained at a lower figure.

Fresh Beef Carcase Production in Hong Kong SAR, China

In value terms, fresh beef carcase production reached $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.4% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The pace of growth was the most pronounced in 2014 with an increase of 21% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2022, production growth failed to regain momentum.

Fresh Beef Carcase Exports

Exports from Hong Kong SAR, China

In 2022, shipments abroad of fresh or chilled carcases of beef and veal decreased by -9.5% to X tons, falling for the fourth consecutive year after five years of growth. Over the period under review, exports saw a noticeable decline. The growth pace was the most rapid in 2017 when exports increased by 208% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, fresh beef carcase exports dropped slightly to $X in 2022. In general, exports, however, saw a prominent increase. The pace of growth appeared the most rapid in 2016 with an increase of 153%. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

Macao SAR (X tons) was the main destination for fresh beef carcase exports from Hong Kong SAR, with a approx. 100% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Macao SAR totaled +11.9%.

In value terms, Macao SAR ($X) also remains the key foreign market for fresh or chilled carcases of beef and veal exports from Hong Kong SAR.

From 2012 to 2022, the average annual growth rate of value to Macao SAR stood at +17.6%.

Export Prices by Country

The average fresh beef carcase export price stood at $X per ton in 2022, rising by 7.9% against the previous year. Over the period under review, the export price recorded a resilient increase. The most prominent rate of growth was recorded in 2019 an increase of 79%. Over the period under review, the average export prices attained the peak figure in 2022 and is likely to see steady growth in the immediate term.

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

From 2012 to 2022, the rate of growth in terms of prices for Macao SAR amounted to +5.1% per year.

Fresh Beef Carcase Imports

Imports into Hong Kong SAR, China

After two years of decline, supplies from abroad of fresh or chilled carcases of beef and veal increased by 13% to X tons in 2022. Over the period under review, imports recorded buoyant growth. The most prominent rate of growth was recorded in 2019 with an increase of 103% against the previous year. As a result, imports attained the peak of X tons. From 2020 to 2022, the growth of imports failed to regain momentum.

In value terms, fresh beef carcase imports skyrocketed to $X in 2022. Overall, imports saw a resilient increase. The pace of growth appeared the most rapid in 2019 with an increase of 70% against the previous year. Imports peaked at $X in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Australia (X tons), the United States (X tons) and Japan (X tons) were the main suppliers of fresh beef carcase imports to Hong Kong SAR, with a combined 90% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Japan (with a CAGR of +48.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Australia ($X), the United States ($X) and Japan ($X) appeared to be the largest fresh beef carcase suppliers to Hong Kong SAR, with a combined 91% share of total imports.

Among the main suppliers, Japan, with a CAGR of +53.6%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average fresh beef carcase import price stood at $X per ton in 2022, rising by 8.8% against the previous year. Over the period under review, import price indicated a moderate expansion from 2012 to 2022: its price increased at an average annual rate of +2.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, fresh beef carcase import price increased by +76.2% against 2019 indices. The pace of growth appeared the most rapid in 2021 an increase of 36% against the previous year. The import price peaked in 2022 and is likely to continue growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Japan ($X per ton), while the price for Argentina ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Argentina (+9.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for fresh or chilled carcases of beef and veal in the world?

The country with the largest volume of fresh beef carcase consumption was China, accounting for 17% of total volume. Moreover, fresh beef carcase consumption in China exceeded the figures recorded by the second-largest consumer, the United States, twofold. The third position in this ranking was occupied by India, with a 6.3% share.

What are the largest producers of fresh or chilled carcases of beef and veal in the world?

China remains the largest fresh beef carcase producing country worldwide, comprising approx. 17% of total volume. Moreover, fresh beef carcase production in China exceeded the figures recorded by the second-largest producer, the United States, twofold. India ranked third in terms of total production with a 6.3% share.

What are the leading suppliers of fresh or chilled carcases of beef and veal to Hong Kong SAR, China?

In value terms, Australia, the United States and Japan constituted the largest fresh beef carcase suppliers to Hong Kong SAR, with a combined 91% share of total imports.

What are the leading importers of fresh or chilled carcases of beef and veal from Hong Kong SAR, China?

In value terms, Macao SAR remains the key foreign market for fresh beef carcase exports from Hong Kong SAR.

What is the average export price for fresh or chilled carcases of beef and veal in Hong Kong SAR, China?

In 2021, the average fresh beef carcase export price amounted to $29,397 per ton, growing by 6.1% against the previous year.

What is the average import price for fresh or chilled carcases of beef and veal in Hong Kong SAR, China?

In 2021, the average fresh beef carcase import price amounted to $12,197 per ton, picking up by 146% against the previous year.

This report provides an in-depth analysis of the fresh beef carcase market in Hong Kong SAR, China. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 10111140 - Fresh or chilled carcases, half-carcases and quarters with bone in, of beef and veal

Country coverage:

Hong Kong SAR

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Hong Kong SAR, China
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023