Hong Kong SAR, China: Market for Manufactured Tobacco, Extracts And Essences 2025

Market Size for Manufactured Tobacco, Extracts And Essences in Hong Kong SAR, China

The Hong Kong market for manufactured tobacco, extracts and essences declined to $X in 2021, falling by -10.7% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, saw a noticeable decline. Over the period under review, the market hit record highs at $X in 2015; however, from 2016 to 2021, consumption remained at a lower figure.

Exports of Manufactured Tobacco, Extracts And Essences

Exports from Hong Kong SAR, China

Manufactured tobacco, extracts and essences exports from Hong Kong SAR surged to X tons in 2021, growing by 15% compared with the year before. In general, exports, however, showed a abrupt curtailment. The growth pace was the most rapid in 2017 when exports increased by 540% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, manufactured tobacco, extracts and essences exports skyrocketed to $X in 2021. Overall, exports recorded a remarkable increase. The pace of growth was the most pronounced in 2017 with an increase of 397% against the previous year. The exports peaked in 2021 and are likely to continue growth in years to come.

Exports by Country

Indonesia (X tons), Malaysia (X tons) and Hungary (X tons) were the main destinations of manufactured tobacco, extracts and essences exports from Hong Kong SAR, with a combined 57% share of total exports. Iceland, Israel and Canada lagged somewhat behind, together comprising a further 18%.

From 2012 to 2021, the biggest increases were recorded for Iceland (with a CAGR of +48.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for manufactured tobacco, extracts and essences exported from Hong Kong SAR were Hungary ($X), Indonesia ($X) and Iceland ($X), with a combined 57% share of total exports.

Iceland, with a CAGR of +37.0%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average export price for manufactured tobacco, extracts and essences amounted to $X per ton, picking up by 30% against the previous year. In general, the export price posted a strong expansion. The pace of growth appeared the most rapid in 2013 an increase of 89% against the previous year. Over the period under review, the average export prices attained the maximum in 2021 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Hungary ($X per ton), while the average price for exports to Malaysia ($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 Indonesia (+9.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Manufactured Tobacco, Extracts And Essences

Imports into Hong Kong SAR, China

In 2021, approx. X tons of manufactured tobacco, extracts and essences were imported into Hong Kong SAR; rising by 21% compared with 2020 figures. In general, imports, however, recorded a pronounced setback. The most prominent rate of growth was recorded in 2014 with an increase of 104%. Imports peaked at X tons in 2015; however, from 2016 to 2021, imports failed to regain momentum.

In value terms, manufactured tobacco, extracts and essences imports reduced notably to $X in 2021. Overall, imports, however, continue to indicate a perceptible contraction. The most prominent rate of growth was recorded in 2014 with an increase of 144%. Imports peaked at $X in 2015; however, from 2016 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, South Korea (X tons) constituted the largest supplier of manufactured tobacco, extracts and essences to Hong Kong SAR, accounting for a 74% share of total imports. Moreover, manufactured tobacco, extracts and essences imports from South Korea exceeded the figures recorded by the second-largest supplier, China (X tons), threefold.

From 2012 to 2021, the average annual rate of growth in terms of volume from South Korea stood at +32.8%.

In value terms, South Korea ($X) constituted the largest supplier of manufactured tobacco, extracts and essences to Hong Kong SAR, comprising 71% of total imports. The second position in the ranking was taken by China ($X), with a 25% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from South Korea amounted to +31.2%.

Import Prices by Country

In 2021, the average import price for manufactured tobacco, extracts and essences amounted to $X per ton, with a decrease of -35.5% against the previous year. In general, the import price showed a mild curtailment. The pace of growth appeared the most rapid in 2020 an increase of 61% against the previous year. As a result, import price reached the peak level of $X per ton, and then dropped significantly in the following year.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was China ($X per ton), while the price for South Korea totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (-1.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :