Report Update Nov 1, 2024

Hong Kong SAR, China - Plastic Sacks and Bags - Market Analysis, Forecast, Size, Trends and Insights

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Hong Kong SAR, China: Plastic Bag Market 2024

Plastic Bag Market Size in Hong Kong SAR, China

After two years of growth, the Hong Kong plastic bag market decreased by -8.5% to $X in 2022. Overall, consumption, however, continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market failed to regain momentum.

Plastic Bag Production in Hong Kong SAR, China

In value terms, plastic bag production shrank markedly to $X in 2022 estimated in export price. In general, production showed a sharp decrease. The pace of growth appeared the most rapid in 2014 with an increase of 331% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2022, production growth failed to regain momentum.

Plastic Bag Exports

Exports from Hong Kong SAR, China

In 2022, approx. X tons of plastic sacks and bags were exported from Hong Kong SAR; dropping by -40.1% compared with 2021. Over the period under review, exports showed a abrupt curtailment. The pace of growth appeared the most rapid in 2021 when exports increased by 27% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, plastic bag exports reduced dramatically to $X in 2022. Overall, exports recorded a drastic downturn. The pace of growth was the most pronounced in 2021 with an increase of 29% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X tons) was the main destination for plastic bag exports from Hong Kong SAR, with a 26% share of total exports. Moreover, plastic bag exports to the United States exceeded the volume sent to the second major destination, Vietnam (X tons), twofold. China (X tons) ranked third in terms of total exports with a 9.3% share.

From 2012 to 2022, the average annual growth rate of volume to the United States totaled -12.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (-5.2% per year) and China (-19.2% per year).

In value terms, the largest markets for plastic bag exported from Hong Kong SAR were the United States ($X), Vietnam ($X) and China ($X), with a combined 43% share of total exports. Bangladesh, South Korea, Indonesia, Cambodia, Sri Lanka, Japan, the Philippines, Macao SAR, Chile and Switzerland lagged somewhat behind, together accounting for a further 34%.

Among the main countries of destination, Chile, with a CAGR of +28.7%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average plastic bag export price amounted to $X per ton, rising by 7.9% against the previous year. Over the last decade, it increased at an average annual rate of +3.3%. The pace of growth appeared the most rapid in 2014 an increase of 8% against the previous year. Over the period under review, the average export prices reached the maximum in 2022 and is likely to see gradual growth in years to come.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Sri Lanka ($X per ton), while the average price for exports to Switzerland ($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 Macao SAR (+7.7%), while the prices for the other major destinations experienced more modest paces of growth.

Plastic Bag Imports

Imports into Hong Kong SAR, China

In 2022, plastic bag imports into Hong Kong SAR reduced markedly to X tons, with a decrease of -18.6% compared with 2021 figures. Overall, imports recorded a noticeable decline. The most prominent rate of growth was recorded in 2021 with an increase of 8.5% against the previous year. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, plastic bag imports shrank sharply to $X in 2022. Over the period under review, imports showed a perceptible descent. The pace of growth appeared the most rapid in 2021 with an increase of 6.2%. Imports peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) was the main plastic bag supplier to Hong Kong SAR, with a approx. 95% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at -3.4%.

In value terms, China ($X) constituted the largest supplier of plastic sacks and bags to Hong Kong SAR.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at -3.6%.

Import Prices by Country

In 2022, the average plastic bag import price amounted to $X per ton, picking up by 3.1% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2014 an increase of 7.2%. The import price peaked at $X per ton in 2015; however, from 2016 to 2022, import prices remained at a lower figure.

As there is only one major supplying country, the average price level is determined by prices for China.

From 2012 to 2022, the rate of growth in terms of prices for China amounted to -0.2% per year.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for plastic sacks and bags in the world?

Russia remains the largest plastic bag consuming country worldwide, comprising approx. 43% of total volume. Moreover, plastic bag consumption in Russia exceeded the figures recorded by the second-largest consumer, China, fivefold. The United States ranked third in terms of total consumption with a 3.9% share.

What are the largest producers of plastic sacks and bags in the world?

The country with the largest volume of plastic bag production was Russia, accounting for 42% of total volume. Moreover, plastic bag production in Russia exceeded the figures recorded by the second-largest producer, China, fourfold. The UK ranked third in terms of total production with a 2.7% share.

What are the leading suppliers of plastic sacks and bags to Hong Kong SAR, China?

In value terms, China constituted the largest supplier of plastic bag to Hong Kong SAR.

What are the leading importers of plastic sacks and bags from Hong Kong SAR, China?

In value terms, the United States, the UK and South Korea constituted the largest markets for plastic bag exported from Hong Kong SAR worldwide, with a combined 42% share of total exports.

What is the average export price for plastic sacks and bags in Hong Kong SAR, China?

In 2021, the average plastic bag export price amounted to $5,465 per ton, surging by 18% against the previous year.

What is the average import price for plastic sacks and bags in Hong Kong SAR, China?

The average plastic bag import price stood at $2,238 per ton in 2021, reducing by -2.1% against the previous year.

This report provides an in-depth analysis of the plastic bag market in Hong Kong SAR, China. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 22221100 - Sacks and bags of polymers of ethylene (including cones)
Prodcom 22221200 - Plastic sacks and bags (including cones) (excluding of polymers of ethylene)

Country coverage:

Hong Kong SAR

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Hong Kong SAR, China
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
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Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
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While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023