Hong Kong SAR, China: Feedstuff Preparing Machinery Market 2024

Feedstuff Preparing Machinery Market Size in Hong Kong SAR, China

In 2021, the Hong Kong feedstuff preparing machinery market was finally on the rise to reach $X after two years of decline. Overall, consumption, however, recorded a mild contraction. Feedstuff preparing machinery consumption peaked at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Feedstuff Preparing Machinery Production in Hong Kong SAR, China

In value terms, feedstuff preparing machinery production rose modestly to $X in 2021 estimated in export price. Over the period under review, production, however, saw a slight descent. The growth pace was the most rapid in 2017 with an increase of 25%. Feedstuff preparing machinery production peaked at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Feedstuff Preparing Machinery Exports

Exports from Hong Kong SAR, China

In 2021, approx. X units of machinery for preparing animal feedstuffs were exported from Hong Kong SAR; surging by 9.1% on 2020 figures. Overall, exports enjoyed strong growth. The pace of growth appeared the most rapid in 2014 with an increase of 300% against the previous year. As a result, the exports attained the peak of X units. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, feedstuff preparing machinery exports skyrocketed to $X in 2021. Over the period under review, exports posted a temperate expansion. The most prominent rate of growth was recorded in 2017 when exports increased by 249% against the previous year. As a result, the exports reached the peak of $X. From 2018 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Indonesia (X units) was the main destination for feedstuff preparing machinery exports from Hong Kong SAR, accounting for a 54% share of total exports. Moreover, feedstuff preparing machinery exports to Indonesia exceeded the volume sent to the second major destination, the UK (X units), threefold. China (X units) ranked third in terms of total exports with an 8.3% share.

From 2012 to 2021, the average annual growth rate of volume to Indonesia amounted to +33.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+10.7% per year) and China (+9.1% per year).

In value terms, Indonesia ($X) remains the key foreign market for machinery for preparing animal feedstuffs exports from Hong Kong SAR, comprising 58% of total exports. The second position in the ranking was held by the UK ($X), with an 18% share of total exports. It was followed by China, with a 7.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Indonesia stood at +39.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+10.8% per year) and China (+42.6% per year).

Export Prices by Country

In 2021, the average feedstuff preparing machinery export price amounted to $X per unit, increasing by 23% against the previous year. Overall, the export price, however, continues to indicate a perceptible downturn. The pace of growth was the most pronounced in 2015 an increase of 36% against the previous year. Over the period under review, the average export prices attained the maximum at $X per unit in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Colombia ($X per unit), while the average price for exports to Grenada ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Zambia (+11.2%), while the prices for the other major destinations experienced more modest paces of growth.

Feedstuff Preparing Machinery Imports

Imports into Hong Kong SAR, China

In 2021, approx. X units of machinery for preparing animal feedstuffs were imported into Hong Kong SAR; growing by 550% against 2020. Overall, imports recorded a relatively flat trend pattern. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, feedstuff preparing machinery imports skyrocketed to $X in 2021. Over the period under review, imports saw mild growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Italy (X units), China (X units) and the United States (X units) were the main suppliers of feedstuff preparing machinery imports to Hong Kong SAR, together comprising 77% of total imports.

From 2012 to 2021, the biggest increases were recorded for Italy (with a CAGR of +123.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X) constituted the largest supplier of machinery for preparing animal feedstuffs to Hong Kong SAR, comprising 71% of total imports. The second position in the ranking was held by China ($X), with a 12% share of total imports. It was followed by Denmark, with a 6.4% share.

From 2012 to 2021, the average annual growth rate of value from Italy amounted to +107.2%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+78.6% per year) and Denmark (+72.4% per year).

Import Prices by Country

In 2021, the average feedstuff preparing machinery import price amounted to $X per unit, with an increase of 1.9% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when the average import price increased by 15%. The import price peaked at $X per unit in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

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 Italy ($X per unit), while the price for South Korea ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Slovakia (+38.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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