Hong Kong SAR, China: Preserved Olive Market 2025

Preserved Olive Market Size in Hong Kong SAR, China

The Hong Kong preserved olive market stood at $X in 2021, flattening at 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). Overall, consumption, however, showed a pronounced decrease. Over the period under review, the market reached the maximum level at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Preserved Olive Exports

Exports from Hong Kong SAR, China

In 2021, shipments abroad of olives prepared or preserved was finally on the rise to reach X tons after two years of decline. In general, exports, however, faced a dramatic slump. The exports peaked at X tons in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, preserved olive exports soared to $X in 2021. Overall, exports, however, saw a deep slump. Over the period under review, the exports reached the maximum at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons), Macao SAR (X tons) and China (X tons) were the main destinations of preserved olive exports from Hong Kong SAR, with a combined 89% share of total exports.

From 2012 to 2021, the biggest increases were recorded for the United States (with a CAGR of +25.3%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, the United States ($X) emerged as the key foreign market for olives prepared or preserved exports from Hong Kong SAR, comprising 54% of total exports. The second position in the ranking was taken by Macao SAR ($X), with a 25% share of total exports. It was followed by Canada, with a 6.9% share.

From 2012 to 2021, the average annual growth rate of value to the United States stood at +31.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Macao SAR (-6.1% per year) and Canada (-0.1% per year).

Export Prices by Country

The average preserved olive export price stood at $X per ton in 2021, growing by 29% against the previous year. Over the period under review, the export price continues to indicate a buoyant increase. The most prominent rate of growth was recorded in 2020 when the average export price increased by 69% against the previous year. Over the period under review, the average export prices hit record highs in 2021 and is likely to continue growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Canada ($X per ton), while the average price for exports to China ($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 Canada (+9.2%), while the prices for the other major destinations experienced more modest paces of growth.

Preserved Olive Imports

Imports into Hong Kong SAR, China

In 2021, purchases abroad of olives prepared or preserved was finally on the rise to reach X tons after four years of decline. In general, imports, however, faced a abrupt setback. The pace of growth was the most pronounced in 2016 when imports increased by 34% against the previous year. Imports peaked at X tons in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, preserved olive imports rose significantly to $X in 2021. Over the period under review, imports, however, continue to indicate a deep downturn. The growth pace was the most rapid in 2016 when imports increased by 31%. Imports peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Spain (X tons) constituted the largest preserved olive supplier to Hong Kong SAR, with a 56% share of total imports. Moreover, preserved olive imports from Spain exceeded the figures recorded by the second-largest supplier, Italy (X tons), fourfold. The UK (X tons) ranked third in terms of total imports with an 8.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Spain totaled -14.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-13.0% per year) and the UK (+13.9% per year).

In value terms, the largest preserved olive suppliers to Hong Kong SAR were Spain ($X), the UK ($X) and Italy ($X), together accounting for 76% of total imports.

In terms of the main suppliers, the UK, with a CAGR of +24.0%, saw 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 olive import price amounted to $X per ton, shrinking by -3.6% against the previous year. In general, import price indicated a pronounced increase from 2012 to 2021: its price increased at an average annual rate of +2.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, preserved olive import price increased by +60.3% against 2016 indices. The pace of growth was the most pronounced in 2020 when the average import price increased by 39%. As a result, import price attained the peak level of $X per ton, and then contracted slightly in the following year.

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 the UK ($X per ton), while the price for Singapore ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the UK (+8.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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