Hong Kong SAR, China: Fructose Market 2024

Fructose Market Size in Hong Kong SAR, China

In 2021, after two years of decline, there was significant growth in the Hong Kong fructose market, when its value increased by 14% to $X. In general, consumption, however, recorded a relatively flat trend pattern. Fructose consumption peaked at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Fructose Exports

Exports from Hong Kong SAR, China

In 2021, after two years of decline, there was significant growth in overseas shipments of fructose and fructose syrup, when their volume increased by 35% to X tons. In general, exports, however, showed a abrupt setback. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, fructose exports soared to $X in 2021. Over the period under review, exports, however, continue to indicate a deep setback. The most prominent rate of growth was recorded in 2014 with an increase of 29% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Macao SAR (X tons) was the main destination for fructose exports from Hong Kong SAR, accounting for a 52% share of total exports. Moreover, fructose exports to Macao SAR exceeded the volume sent to the second major destination, China (X tons), twofold. The third position in this ranking was held by the United States (X tons), with a 7.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Macao SAR totaled -4.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-18.5% per year) and the United States (-18.4% per year).

In value terms, Macao SAR ($X) remains the key foreign market for fructose and fructose syrup exports from Hong Kong SAR, comprising 56% of total exports. The second position in the ranking was held by China ($X), with a 22% share of total exports. It was followed by the United States, with an 8% share.

From 2012 to 2021, the average annual growth rate of value to Macao SAR was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-10.9% per year) and the United States (-14.5% per year).

Export Prices by Country

In 2021, the average fructose export price amounted to $X per ton, waning by -9.7% against the previous year. Overall, export price indicated a strong increase from 2012 to 2021: its price increased at an average annual rate of +6.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, fructose export price increased by +15.9% against 2017 indices. The most prominent rate of growth was recorded in 2020 an increase of 29%. As a result, the export price attained the peak level of $X per ton, and then dropped 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 (+9.3%), while the prices for the other major destinations experienced more modest paces of growth.

Fructose Imports

Imports into Hong Kong SAR, China

After two years of decline, supplies from abroad of fructose and fructose syrup increased by 19% to X tons in 2021. In general, imports, however, showed a pronounced decline. The pace of growth was the most pronounced in 2016 with an increase of 24% against the previous year. Over the period under review, imports attained the maximum at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, fructose imports reached $X in 2021. Overall, imports, however, showed a mild descent. The most prominent rate of growth was recorded in 2016 with an increase of 27%. Over the period under review, imports reached the peak figure at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of fructose to Hong Kong SAR, with a 81% share of total imports. Moreover, fructose imports from China exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), tenfold. The third position in this ranking was taken by Taiwan (Chinese) (X tons), with a 4.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled -2.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (-0.2% per year) and Taiwan (Chinese) (+6.5% per year).

In value terms, China ($X) constituted the largest supplier of fructose and fructose syrup to Hong Kong SAR, comprising 66% of total imports. The second position in the ranking was held by Taiwan (Chinese) ($X), with an 11% share of total imports. It was followed by Malaysia, with an 8.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled -1.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+8.1% per year) and Malaysia (-0.3% per year).

Import Prices by Country

In 2021, the average fructose import price amounted to $X per ton, reducing by -3.6% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the average import price increased by 8.9% against the previous year. As a result, import price attained the peak level of $X per ton; afterwards, it flattened through to 2021.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+9.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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