Hong Kong SAR, China: Preserved Mackerel Market 2024

Preserved Mackerel Market Size in Hong Kong SAR, China

In 2021, the Hong Kong preserved mackerel market decreased by -4.9% to $X, falling for the fifth year in a row after three years of growth. In general, consumption, however, recorded a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2016; however, from 2017 to 2021, consumption failed to regain momentum.

Preserved Mackerel Production in Hong Kong SAR, China

In value terms, preserved mackerel production dropped modestly to $X in 2021 estimated in export price. In general, the total production indicated a tangible expansion from 2012 to 2021: its value increased at an average annual rate of +2.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +2.4% against 2019 indices. The growth pace was the most rapid in 2015 when the production volume increased by 46%. Over the period under review, production attained the maximum level at $X in 2016; however, from 2017 to 2021, production failed to regain momentum.

Preserved Mackerel Exports

Exports from Hong Kong SAR, China

In 2021, the amount of mackerel (prepared or preserved) exported from Hong Kong SAR surged to X tons, jumping by 20% on the previous year's figure. Overall, exports enjoyed a remarkable increase. The pace of growth was the most pronounced in 2018 with an increase of 275% against the previous year. Over the period under review, the exports attained the peak figure in 2021 and are likely to see gradual growth in the near future.

In value terms, preserved mackerel exports skyrocketed to $X in 2021. In general, exports recorded a strong increase. The pace of growth was the most pronounced in 2018 when exports increased by 230% against the previous year. Over the period under review, the exports attained the maximum in 2021 and are likely to continue growth in the immediate term.

Exports by Country

Macao SAR (X tons) was the main destination for preserved mackerel exports from Hong Kong SAR, accounting for a approx. 100% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to Macao SAR stood at +27.7%.

In value terms, Macao SAR ($X) also remains the key foreign market for mackerel (prepared or preserved) exports from Hong Kong SAR.

From 2012 to 2021, the average annual growth rate of value to Macao SAR stood at +25.3%.

Export Prices by Country

In 2021, the average preserved mackerel export price amounted to $X per ton, with an increase of 4.7% against the previous year. Overall, export price indicated mild growth from 2012 to 2021: its price increased at an average annual rate of +1.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, preserved mackerel export price decreased by -35.4% against 2016 indices. The most prominent rate of growth was recorded in 2014 an increase of 52%. The export price peaked at $X per ton in 2016; however, from 2017 to 2021, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Macao SAR.

From 2012 to 2021, the rate of growth in terms of prices for China amounted to +0.6% per year.

Preserved Mackerel Imports

Imports into Hong Kong SAR, China

In 2021, approx. X tons of mackerel (prepared or preserved) were imported into Hong Kong SAR; which is down by -8% compared with 2020. Over the period under review, imports recorded a slight reduction. The pace of growth appeared the most rapid in 2014 with an increase of 45%. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, preserved mackerel imports amounted to $X in 2021. In general, imports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when imports increased by 40% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

China (X tons), Thailand (X tons) and Vietnam (X tons) were the main suppliers of preserved mackerel imports to Hong Kong SAR, with a combined 91% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Vietnam (with a CAGR of +53.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Thailand ($X) and Vietnam ($X) appeared to be the largest preserved mackerel suppliers to Hong Kong SAR, together comprising 89% of total imports.

Among the main suppliers, Vietnam, with a CAGR of +52.1%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average preserved mackerel import price amounted to $X per ton, surging by 11% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.1%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Norway (+4.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :