Hong Kong SAR, China: Meat Market 2024

Meat Market Size in Hong Kong SAR, China

The Hong Kong meat market reduced remarkably to $X in 2022, with a decrease of X% against the previous year. Overall, consumption continues to indicate a relatively flat trend pattern. Over the period under review, the market attained the peak level at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Meat Production in Hong Kong SAR, China

In value terms, meat production rose to $X in 2022 estimated in export price. Over the period under review, the total production indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2020 indices. The pace of growth appeared the most rapid in 2013 with an increase of X%. Meat production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

The average yield of meat in Hong Kong SAR was estimated at X kg per head in 2022, remaining constant against 2021 figures. Overall, the yield recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the yield increased by X%. The meat yield peaked at X kg per head in 2020; however, from 2021 to 2022, the yield failed to regain momentum.

The number of animals slaughtered for meat production in Hong Kong SAR stood at X heads in 2022, approximately equating the previous year. In general, the number of producing animals, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the number of producing animals increased by X% against the previous year. As a result, the amount of producing animals attained the peak level of X heads. From 2014 to 2022, the growth of this number failed to regain momentum.

Meat Exports

Exports from Hong Kong SAR, China

In 2022, shipments abroad of meat increased by X% to X tons, rising for the second year in a row after four years of decline. In general, exports, however, saw a drastic downturn. The exports peaked at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, meat exports surged to $X in 2022. Overall, exports, however, continue to indicate a pronounced decline. The growth pace was the most rapid in 2021 when exports increased by X% against the previous year. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Taiwan (Chinese) (X tons), Macao SAR (X tons) and Brazil (X tons) were the main destinations of meat exports from Hong Kong SAR, with a combined X% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Brazil (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Macao SAR ($X) remains the key foreign market for meat exports from Hong Kong SAR, comprising X% of total exports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a X% share of total exports. It was followed by Brazil, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Macao SAR amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Taiwan (Chinese) (X% per year) and Brazil (X% per year).

Export Prices by Country

In 2022, the average meat export price amounted to $X per ton, falling by X% against the previous year. Overall, the export price, however, recorded temperate growth. The pace of growth appeared the most rapid in 2017 an increase of X% against the previous year. The export price peaked at $X per ton in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Macao SAR ($X per ton), while the average price for exports to Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (X%), while the prices for the other major destinations experienced more modest paces of growth.

Meat Imports

Imports into Hong Kong SAR, China

In 2022, supplies from abroad of meat decreased by X% to X tons, falling for the fifth consecutive year after two years of growth. In general, imports saw a perceptible downturn. The growth pace was the most rapid in 2013 when imports increased by X% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, meat imports fell sharply to $X in 2022. Over the period under review, imports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2013 when imports increased by X%. Over the period under review, imports reached the maximum at $X in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Brazil (X tons) constituted the largest meat supplier to Hong Kong SAR, with a X% share of total imports. Moreover, meat imports from Brazil exceeded the figures recorded by the second-largest supplier, China (X tons), threefold. The United States (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from Brazil stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and the United States (X% per year).

In value terms, the largest meat suppliers to Hong Kong SAR were Brazil ($X), the United States ($X) and China ($X), with a combined X% share of total imports. Australia, the Netherlands, Vietnam, Canada, Spain, Poland and Germany lagged somewhat behind, together accounting for a further X%.

Among the main suppliers, Poland, with a CAGR of X%, saw the highest growth rate of 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 2022, the average meat import price amounted to $X per ton, growing by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. 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 2022, amid the top importers, the country with the highest price was Australia ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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