Hong Kong SAR, China: Frozen Whole Fish Market 2024

Frozen Whole Fish Market Size in Hong Kong SAR, China

In 2021, the Hong Kong frozen whole fish market decreased by -55.1% to $X for the first time since 2018, thus ending a two-year rising trend. Over the period under review, consumption, however, saw a resilient expansion. As a result, consumption reached the peak level of $X. From 2017 to 2021, the growth of the market remained at a lower figure.

Frozen Whole Fish Production in Hong Kong SAR, China

In value terms, frozen whole fish production rose remarkably to $X in 2021 estimated in export price. In general, production, however, continues to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2017 with an increase of 30% against the previous year. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Frozen Whole Fish Exports

Exports from Hong Kong SAR, China

In 2021, after two years of decline, there was significant growth in overseas shipments of frozen whole fish, when their volume increased by 33% to X tons. Over the period under review, exports, however, continue to indicate a drastic downturn. The growth pace was the most rapid in 2013 with an increase of 63% against the previous year. The exports peaked at X tons in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, frozen whole fish exports surged to $X in 2021. In general, exports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when exports increased by 38% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

South Korea (X tons) was the main destination for frozen whole fish exports from Hong Kong SAR, accounting for a 60% share of total exports. Moreover, frozen whole fish exports to South Korea exceeded the volume sent to the second major destination, Thailand (X tons), twofold. Taiwan (Chinese) (X tons) ranked third in terms of total exports with an 8.2% share.

From 2012 to 2021, the average annual growth rate of volume to South Korea stood at +117.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (+77.4% per year) and Taiwan (Chinese) (-23.7% per year).

In value terms, South Korea ($X) remains the key foreign market for frozen whole fish exports from Hong Kong SAR, comprising 66% of total exports. The second position in the ranking was held by Thailand ($X), with a 13% share of total exports. It was followed by Taiwan (Chinese), with an 8.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value to South Korea totaled +56.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (+67.8% per year) and Taiwan (Chinese) (-13.7% per year).

Export Prices by Country

In 2021, the average frozen whole fish export price amounted to $X per ton, waning by -11.9% against the previous year. Overall, the export price, however, continues to indicate prominent growth. The most prominent rate of growth was recorded in 2017 an increase of 59%. Over the period under review, the average export prices attained the maximum at $X per ton in 2020, 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 Macao SAR ($X per ton), while the average price for exports to Thailand ($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 China (+15.8%), while the prices for the other major destinations experienced mixed trend patterns.

Frozen Whole Fish Imports

Imports into Hong Kong SAR, China

In 2021, frozen whole fish imports into Hong Kong SAR declined to X tons, waning by -10.7% against the year before. Overall, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when imports increased by 121%. Over the period under review, imports attained the maximum at X tons in 2016; however, from 2017 to 2021, imports remained at a lower figure.

In value terms, frozen whole fish imports fell to $X in 2021. In general, imports showed a noticeable downturn. The most prominent rate of growth was recorded in 2016 with an increase of 28%. As a result, imports attained the peak of $X. From 2017 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of frozen whole fish to Hong Kong SAR, accounting for a 71% share of total imports. Moreover, frozen whole fish imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), more than tenfold. Taiwan (Chinese) (X tons) ranked third in terms of total imports with a 3.4% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +9.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+3.8% per year) and Taiwan (Chinese) (-4.9% per year).

In value terms, China ($X) constituted the largest supplier of frozen whole fish to Hong Kong SAR, comprising 60% of total imports. The second position in the ranking was taken by Japan ($X), with an 11% share of total imports. It was followed by Taiwan (Chinese), with a 3.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at +11.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+5.8% per year) and Taiwan (Chinese) (+1.5% per year).

Import Prices by Country

The average frozen whole fish import price stood at $X per ton in 2021, picking up by 2.8% against the previous year. Over the period under review, the import price, however, continues to indicate a mild downturn. The most prominent rate of growth was recorded in 2013 an increase of 73% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2021, the average import prices failed to regain momentum.

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 ($X per ton), while the price for Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+19.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :