Hong Kong SAR, China: Frozen Potato Market 2024

Frozen Potato Market Size in Hong Kong SAR, China

The Hong Kong frozen potato market skyrocketed to $X in 2021, growing by 36% 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). Overall, the total consumption indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +5.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Frozen Potato Exports

Exports from Hong Kong SAR, China

In 2021, the amount of frozen potatoes exported from Hong Kong SAR expanded to X tons, growing by 3.4% compared with 2020 figures. Overall, exports, however, recorded a deep setback. The most prominent rate of growth was recorded in 2019 when exports increased by 95% against the previous year. The exports peaked at X tons in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

In value terms, frozen potato exports rose remarkably to $X in 2021. In general, exports, however, continue to indicate a perceptible downturn. The pace of growth was the most pronounced in 2019 with an increase of 72% against the previous year. Over the period under review, the exports reached the maximum at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

Macao SAR (X tons) was the main destination for frozen potato exports from Hong Kong SAR, accounting for a 82% share of total exports. Moreover, frozen potato exports to Macao SAR exceeded the volume sent to the second major destination, China (X tons), eightfold.

From 2012 to 2021, the average annual growth rate of volume to Macao SAR stood at +1.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-21.3% per year) and Malaysia (+67.0% per year).

In value terms, Macao SAR ($X) remains the key foreign market for frozen potatoes exports from Hong Kong SAR, comprising 87% of total exports. The second position in the ranking was taken by China ($X), with a 9% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Macao SAR stood at +4.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-19.2% per year) and Malaysia (+64.3% per year).

Export Prices by Country

The average frozen potato export price stood at $X per ton in 2021, surging by 5.5% against the previous year. Over the last nine years, it increased at an average annual rate of +3.8%. The pace of growth appeared the most rapid in 2014 when the average export price increased by 32% against the previous year. The export price peaked 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 Macao SAR ($X per ton), while the average price for exports to Malaysia ($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 Macao SAR (+3.2%), while the prices for the other major destinations experienced mixed trend patterns.

Frozen Potato Imports

Imports into Hong Kong SAR, China

In 2021, approx. X tons of frozen potatoes were imported into Hong Kong SAR; with an increase of 27% on the year before. The total import volume increased at an average annual rate of +2.8% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, frozen potato imports surged to $X in 2021. The total import value increased at an average annual rate of +4.7% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, the United States (X tons) constituted the largest frozen potato supplier to Hong Kong SAR, accounting for a 61% share of total imports. Moreover, frozen potato imports from the United States exceeded the figures recorded by the second-largest supplier, China (X tons), threefold. The third position in this ranking was held by Canada (X tons), with a 6.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States amounted to -1.8%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+31.5% per year) and Canada (+14.0% per year).

In value terms, the United States ($X) constituted the largest supplier of frozen potatoes to Hong Kong SAR, comprising 59% of total imports. The second position in the ranking was taken by China ($X), with a 20% share of total imports. It was followed by Canada, with a 5.7% share.

From 2012 to 2021, the average annual growth rate of value from the United States was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: China (+34.6% per year) and Canada (+12.5% per year).

Import Prices by Country

In 2021, the average frozen potato import price amounted to $X per ton, increasing by 6.5% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.8%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from the United States ($X per ton) and China ($X per ton), while the price for Belgium ($X per ton) and the Netherlands ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+3.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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