Hong Kong SAR, China: Preserved Frozen Potato Market 2024

Preserved Frozen Potato Market Size in Hong Kong SAR, China

In 2021, the Hong Kong preserved frozen potato market was finally on the rise to reach $X after three years of decline. Overall, the total consumption indicated a tangible increase from 2012 to 2021: its value increased at an average annual rate of +4.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Preserved frozen potato consumption peaked at $X in 2017; however, from 2018 to 2021, consumption failed to regain momentum.

Preserved Frozen Potato Production in Hong Kong SAR, China

In value terms, preserved frozen potato production contracted to $X in 2021 estimated in export price. Overall, production, however, showed a noticeable expansion. The growth pace was the most rapid in 2016 with an increase of 84%. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2021, production stood at a somewhat lower figure.

Preserved Frozen Potato Exports

Exports from Hong Kong SAR, China

Preserved frozen potato exports from Hong Kong SAR expanded modestly to X tons in 2021, rising by 4.5% compared with 2020 figures. Overall, exports, however, showed a noticeable decrease. The pace of growth was the most pronounced in 2019 with an increase of 110%. The exports peaked at X tons in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

In value terms, preserved frozen potato exports surged to $X in 2021. In general, exports, however, recorded a mild reduction. The most prominent rate of growth was recorded in 2019 when exports increased by 98% against the previous year. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

Macao SAR (X tons) was the main destination for preserved frozen potato exports from Hong Kong SAR, accounting for a 81% share of total exports. Moreover, preserved frozen potato exports to Macao SAR exceeded the volume sent to the second major destination, China (X tons), sevenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Macao SAR stood at +1.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-16.5% per year) and Malaysia (+67.0% per year).

In value terms, Macao SAR ($X) remains the key foreign market for frozen potatoes prepared or preserved exports from Hong Kong SAR, comprising 86% of total exports. The second position in the ranking was held by China ($X), with a 10% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Macao SAR stood at +4.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-16.1% per year) and Malaysia (+64.3% per year).

Export Prices by Country

The average preserved frozen potato export price stood at $X per ton in 2021, surging by 12% against the previous year. Over the last nine years, it increased at an average annual rate of +1.9%. The pace of growth was the most pronounced in 2014 when the average export price increased by 31% against the previous year. Over the period under review, the average export prices reached the maximum in 2021 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 Macao SAR ($X per ton), while the average price for exports to Malaysia ($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 Macao SAR (+2.6%), while the prices for the other major destinations experienced mixed trend patterns.

Preserved Frozen Potato Imports

Imports into Hong Kong SAR, China

In 2021, the amount of frozen potatoes prepared or preserved imported into Hong Kong SAR soared to X tons, picking up by 25% against the year before. Over the period under review, imports enjoyed a noticeable expansion. The most prominent rate of growth was recorded in 2019 with an increase of 126%. Imports peaked in 2021 and are likely to see steady growth in the immediate term.

In value terms, preserved frozen potato imports surged to $X in 2021. Overall, total imports indicated perceptible growth from 2012 to 2021: its value increased at an average annual rate of +4.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +149.9% against 2017 indices. The most prominent rate of growth was recorded in 2019 with an increase of 93% against the previous year. Over the period under review, imports reached the maximum in 2021 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2021, the United States (X tons) constituted the largest supplier of preserved frozen potato to Hong Kong SAR, with a 59% share of total imports. Moreover, preserved frozen potato imports from the United States exceeded the figures recorded by the second-largest supplier, China (X tons), threefold. The third position in this ranking was taken by the Netherlands (X tons), with a 6.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States totaled -2.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+32.4% per year) and the Netherlands (+28.2% per year).

In value terms, the United States ($X) constituted the largest supplier of frozen potatoes prepared or preserved to Hong Kong SAR, comprising 57% of total imports. The second position in the ranking was taken by China ($X), with a 22% share of total imports. It was followed by the Netherlands, with a 6.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States totaled -1.2%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+35.4% per year) and the Netherlands (+32.1% per year).

Import Prices by Country

In 2021, the average preserved frozen potato import price amounted to $X per ton, surging by 5.7% against the previous year. Over the last nine years, it increased at an average annual rate of +1.8%. The most prominent rate of growth was recorded in 2017 when the average import price increased by 15% 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 highest price was recorded for prices from the United States ($X per ton) and China ($X per ton), while the price for Canada ($X per ton) and Belgium ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+3.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :