Hong Kong SAR, China: Prepared Frozen Vegetable Market 2022

Prepared Frozen Vegetable Market Size in Hong Kong SAR, China

In 2020, the Hong Kong prepared frozen vegetable market decreased by -X% to $X, falling for the second year in a row after four years of growth. In general, the total consumption indicated a tangible expansion from 2007 to 2020: its value increased at an average annual rate of +X% over the last thirteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, consumption decreased by -X% against 2018 indices. The most prominent rate of growth was recorded in 2009 with an increase of X% y-o-y. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2020, consumption failed to regain the momentum.

Prepared Frozen Vegetable Production in Hong Kong SAR, China

In value terms, prepared frozen vegetable production rose modestly to $X in 2020 estimated in export prices. Over the period under review, the total production indicated pronounced growth from 2007 to 2020: its value increased at an average annual rate of +X% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, production decreased by -X% against 2018 indices. The growth pace was the most rapid in 2009 when the production volume increased by X% y-o-y. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2020, production stood at a somewhat lower figure.

Prepared Frozen Vegetable Exports

Exports from Hong Kong SAR, China

In 2020, approx. X tons of frozen vegetables and mixtures of vegetables (prepared or preserved) were exported from Hong Kong SAR; growing by X% on the previous year. In general, exports enjoyed a significant increase. The growth pace was the most rapid in 2008 when exports increased by X% against the previous year. Exports peaked in 2020 and are likely to continue growth in the immediate term.

In value terms, prepared frozen vegetable exports skyrocketed to $X in 2020. Overall, exports recorded a significant increase. The growth pace was the most rapid in 2008 with an increase of X% against the previous year. Over the period under review, exports attained the maximum in 2020 and are expected to retain growth in years to come.

Exports by Country

Spain (X tons) was the main destination for prepared frozen vegetable exports from Hong Kong SAR, with a X% share of total exports. Moreover, prepared frozen vegetable exports to Spain exceeded the volume sent to the second major destination, Macao SAR (X tons), more than tenfold.

From 2007 to 2020, the average annual rate of growth in terms of volume to Spain was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Macao SAR (+X% per year) and Germany (+X% per year).

In value terms, Spain ($X) emerged as the key foreign market for prepared frozen vegetable exports from Hong Kong SAR, comprising X% of total exports. The second position in the ranking was occupied by Macao SAR ($X), with a X% share of total exports.

From 2007 to 2020, the average annual growth rate of value to Spain amounted to +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Macao SAR (+X% per year) and Germany (+X% per year).

Export Prices by Country

In 2020, the average prepared frozen vegetable export price amounted to $X per ton, reducing by -X% against the previous year. Over the period under review, the export price showed a abrupt descent. The most prominent rate of growth was recorded in 2009 an increase of X% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2020, export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2020, the country with the highest price was Macao SAR ($X per ton), while the average price for exports to Germany ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Macao SAR, while the prices for the other major destinations experienced a decline.

Prepared Frozen Vegetable Imports

Imports into Hong Kong SAR, China

In 2020, purchases abroad of frozen vegetables and mixtures of vegetables (prepared or preserved) increased by X% to X tons, rising for the second year in a row after seven years of decline. In general, imports, however, continue to indicate a slight descent. The pace of growth was the most pronounced in 2019 with an increase of X% against the previous year. Imports peaked at X tons in 2011; however, from 2012 to 2020, imports stood at a somewhat lower figure.

In value terms, prepared frozen vegetable imports soared to $X in 2020. Overall, total imports indicated a resilient increase from 2007 to 2020: its value decreased at an average annual rate of -X% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, imports increased by +X% against 2009 indices. The most prominent rate of growth was recorded in 2019 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure in 2020 and are likely to see gradual growth in years to come.

Imports by Country

China (X tons), the United States (X tons) and Japan (X tons) were the main suppliers of prepared frozen vegetable imports to Hong Kong SAR, together comprising X% of total imports. The UK, Taiwan (Chinese), Spain and the Netherlands lagged somewhat behind, together accounting for a further X 2007 to 2020, the biggest increases were in the UK, while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest prepared frozen vegetable suppliers to Hong Kong SAR were the United States ($X), Japan ($X) and China ($X), together accounting for X% of total imports. The UK, Taiwan (Chinese), Spain and the Netherlands lagged somewhat behind, together comprising a further X Netherlands saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2020, the average prepared frozen vegetable import price amounted to $X per ton, surging by X% against the previous year. In general, the import price showed a strong increase. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by the country of origin; the country with the highest price was Japan ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by China, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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