Hong Kong SAR, China: Preserved Swine Meat Market 2024

Preserved Swine Meat Market Size in Hong Kong SAR, China

After two years of decline, the Hong Kong preserved swine meat market increased by 6.8% to $X in 2021. In general, the total consumption indicated a tangible expansion from 2012 to 2021: its value increased at an average annual rate of +3.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -2.5% against 2018 indices. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market failed to regain momentum.

Preserved Swine Meat Production in Hong Kong SAR, China

In value terms, preserved swine meat production surged to $X in 2021 estimated in export price. Overall, production enjoyed a resilient increase. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Preserved Swine Meat Exports

Exports from Hong Kong SAR, China

Preserved swine meat exports from Hong Kong SAR reduced slightly to X tons in 2021, waning by -2.8% on 2020 figures. Overall, exports faced a abrupt setback. The pace of growth was the most pronounced in 2015 with an increase of 44%. As a result, the exports reached the peak of X tons. From 2016 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, preserved swine meat exports totaled $X in 2021. In general, exports showed a drastic downturn. The most prominent rate of growth was recorded in 2015 with an increase of 63%. As a result, the exports attained the peak of $X. From 2016 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Macao SAR (X tons) was the main destination for preserved swine meat exports from Hong Kong SAR, with a 96% share of total exports. Moreover, preserved swine meat exports to Macao SAR exceeded the volume sent to the second major destination, China (X tons), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Macao SAR totaled -7.4%.

In value terms, Macao SAR ($X) remains the key foreign market for prepared or preserved hams and cuts of swine meat exports from Hong Kong SAR, comprising 97% of total exports. The second position in the ranking was held by China ($X), with a 2.4% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Macao SAR totaled -4.3%.

Export Prices by Country

In 2021, the average preserved swine meat export price amounted to $X per ton, growing by 5.6% against the previous year. Over the last nine years, it increased at an average annual rate of +3.0%. The growth pace was the most rapid in 2015 when the average export price increased by 13%. Over the period under review, the average export prices hit record highs in 2021 and is likely to see gradual growth in years to come.

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 China amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Macao SAR (+3.4%).

Preserved Swine Meat Imports

Imports into Hong Kong SAR, China

In 2021, overseas purchases of prepared or preserved hams and cuts of swine meat decreased by -5.3% to X tons, falling for the eighth consecutive year after two years of growth. Overall, imports continue to indicate a noticeable descent. The most prominent rate of growth was recorded in 2013 when imports increased by 36%. As a result, imports attained the peak of X tons. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, preserved swine meat imports shrank to $X in 2021. In general, imports continue to indicate a mild decrease. The growth pace was the most rapid in 2020 with an increase of 11%. Over the period under review, imports attained the peak figure at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) constituted the largest preserved swine meat supplier to Hong Kong SAR, with a 87% share of total imports. Moreover, preserved swine meat imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), more than tenfold. Italy (X tons) ranked third in terms of total imports with a 2.2% share.

From 2012 to 2021, the average annual growth rate of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+13.1% per year) and Italy (-4.1% per year).

In value terms, China ($X) constituted the largest supplier of prepared or preserved hams and cuts of swine meat to Hong Kong SAR, comprising 74% of total imports. The second position in the ranking was held by Italy ($X), with a 4.9% share of total imports. It was followed by Spain, with a 4.8% share.

From 2012 to 2021, the average annual growth rate of value from China amounted to +2.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-6.0% per year) and Spain (-17.4% per year).

Import Prices by Country

The average preserved swine meat import price stood at $X per ton in 2021, stabilizing at the previous year. Over the last nine years, it increased at an average annual rate of +2.1%. The most prominent rate of growth was recorded in 2020 when the average import price increased by 13% against the previous year. As a result, import price attained the peak level of $X per ton, leveling off in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Spain ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+20.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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