Hong Kong SAR, China: Pork Market 2025

Pork Market Size in Hong Kong SAR, China

After two years of growth, the Hong Kong pork market decreased by -15.9% to $X in 2022. Overall, consumption, however, continues to indicate a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2021, and then fell rapidly in the following year.

Pork Production in Hong Kong SAR, China

In value terms, pork production totaled $X in 2022 estimated in export price. Overall, the total production indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +5.4% 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 -4.4% against 2020 indices. The growth pace was the most rapid in 2013 with an increase of 71% against the previous year. Over the period under review, production reached the maximum level at $X in 2017; however, from 2018 to 2022, production remained at a lower figure.

The average yield of pork in Hong Kong SAR stood at X kg per head in 2022, leveling off at the previous year. In general, the yield saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the yield increased by 4.4%. The pork yield peaked at X kg per head in 2020; however, from 2021 to 2022, the yield failed to regain momentum.

In 2022, approx. X heads of animals slaughtered for pork production in Hong Kong SAR; flattening at the year before. Over the period under review, the number of producing animals saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when the number of producing animals increased by 0.7% against the previous year. Over the period under review, this number reached the peak level at X heads in 2014; however, from 2015 to 2022, producing animals remained at a lower figure.

Pork Exports

Exports from Hong Kong SAR, China

In 2022, shipments abroad of pork increased by 5.4% to X tons, rising for the second consecutive year after three years of decline. In general, exports, however, showed a abrupt slump. The most prominent rate of growth was recorded in 2016 when exports increased by 57%. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, pork exports contracted to $X in 2022. Overall, exports, however, recorded a deep setback. The pace of growth appeared the most rapid in 2016 with an increase of 98%. Over the period under review, the exports hit record highs at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Macao SAR (X tons) was the main destination for pork exports from Hong Kong SAR, with a 64% share of total exports. Moreover, pork exports to Macao SAR exceeded the volume sent to the second major destination, Taiwan (Chinese) (X tons), threefold. Thailand (X tons) ranked third in terms of total exports with a 7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Macao SAR totaled +5.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Taiwan (Chinese) (-12.0% per year) and Thailand (+39.8% per year).

In value terms, Macao SAR ($X) remains the key foreign market for pork exports from Hong Kong SAR, comprising 78% of total exports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 13% share of total exports. It was followed by Thailand, with a 4.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Macao SAR amounted to +4.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Taiwan (Chinese) (-9.9% per year) and Thailand (+41.5% per year).

Export Prices by Country

The average pork export price stood at $X per ton in 2022, shrinking by -13.4% against the previous year. Over the period under review, the export price, however, showed perceptible growth. The pace of growth was the most pronounced in 2017 an increase of 49% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2018 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Vietnam ($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 China (+7.4%), while the prices for the other major destinations experienced more modest paces of growth.

Pork Imports

Imports into Hong Kong SAR, China

After two years of growth, overseas purchases of pork decreased by -28.9% to X tons in 2022. Over the period under review, imports saw a pronounced reduction. The most prominent rate of growth was recorded in 2016 with an increase of 35% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, pork imports fell dramatically to $X in 2022. In general, imports recorded a mild contraction. The most prominent rate of growth was recorded in 2020 when imports increased by 29% against the previous year. Imports peaked 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 pork supplier to Hong Kong SAR, with a 48% share of total imports. Moreover, pork imports from Brazil exceeded the figures recorded by the second-largest supplier, China (X tons), twofold. The Netherlands (X tons) ranked third in terms of total imports with a 9.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Brazil was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: China (-3.8% per year) and the Netherlands (-4.9% per year).

In value terms, the largest pork suppliers to Hong Kong SAR were Brazil ($X), China ($X) and the Netherlands ($X), together accounting for 69% of total imports. Vietnam, Spain, Poland, the United States, Germany and Canada lagged somewhat behind, together accounting for a further 24%.

Among the main suppliers, Poland, with a CAGR of +29.5%, 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 mixed trend patterns.

Import Prices by Country

In 2022, the average pork import price amounted to $X per ton, rising by 7.2% against the previous year. Over the last decade, it increased at an average annual rate of +1.8%. The most prominent rate of growth was recorded in 2020 an increase of 14% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is likely to continue growth in the near future.

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 Spain ($X per ton), while the price for Brazil ($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 (+10.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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