Hong Kong SAR, China: Preserved Asparagus Market 2025

Preserved Asparagus Market Size in Hong Kong SAR, China

In 2022, after three years of growth, there was significant decline in the Hong Kong preserved asparagus market, when its value decreased by -33% to $X. In general, consumption saw a pronounced decline. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market failed to regain momentum.

Preserved Asparagus Production in Hong Kong SAR, China

In value terms, preserved asparagus production contracted to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 with an increase of 32% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2022, production growth remained at a lower figure.

Preserved Asparagus Exports

Exports from Hong Kong SAR, China

In 2022, preserved asparagus exports from Hong Kong SAR contracted sharply to X kg, shrinking by -32.7% against the previous year. Overall, exports continue to indicate a drastic downturn. The most prominent rate of growth was recorded in 2017 with an increase of 1,117% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, preserved asparagus exports shrank remarkably to $X in 2022. Over the period under review, exports faced a abrupt contraction. The pace of growth was the most pronounced in 2017 with an increase of 1,260% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

Singapore (X kg), Denmark (X kg) and Australia (X kg) were the main destinations of preserved asparagus exports from Hong Kong SAR, together comprising 98% of total exports.

From 2012 to 2022, the biggest increases were recorded for Singapore (with a CAGR of +1.2%), while shipments for the other leaders experienced a decline.

In value terms, Singapore ($X) remains the key foreign market for preserved asparagus exports from Hong Kong SAR, comprising 85% of total exports. The second position in the ranking was held by Denmark ($X), with a 12% share of total exports. It was followed by Australia, with a 1.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Singapore was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Denmark (-28.7% per year) and Australia (-20.4% per year).

Export Prices by Country

The average preserved asparagus export price stood at $X per ton in 2022, rising by 5% against the previous year. In general, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the average export price increased by 44%. The export price peaked at $X per ton in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

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 Singapore ($X per ton), while the average price for exports to Australia ($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 Singapore (-0.9%), while the prices for the other major destinations experienced a decline.

Preserved Asparagus Imports

Imports into Hong Kong SAR, China

In 2022, after three years of growth, there was significant decline in overseas purchases of preserved asparagus, when their volume decreased by -90.7% to X tons. Over the period under review, imports saw a abrupt descent. The most prominent rate of growth was recorded in 2016 when imports increased by 118% against the previous year. Imports peaked at X tons in 2021, and then contracted sharply in the following year.

In value terms, preserved asparagus imports shrank sharply to $X in 2022. In general, imports faced a precipitous curtailment. The pace of growth was the most pronounced in 2020 when imports increased by 47% against the previous year. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of preserved asparagus to Hong Kong SAR, with a 73% share of total imports. Moreover, preserved asparagus imports from China exceeded the figures recorded by the second-largest supplier, the UK (X tons), threefold.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to -15.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+5.7% per year) and Italy (0.0% per year).

In value terms, the UK ($X) constituted the largest supplier of preserved asparagus to Hong Kong SAR, comprising 76% of total imports. The second position in the ranking was taken by China ($X), with a 22% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from the UK totaled +22.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-11.8% per year) and Italy (0.0% per year).

Import Prices by Country

The average preserved asparagus import price stood at $X per ton in 2022, with an increase of 74% against the previous year. In general, the import price, however, showed a perceptible shrinkage. The most prominent rate of growth was recorded in 2018 when the average import price increased by 154% against the previous year. As a result, import price reached the peak level of $X per ton. From 2019 to 2022, the average import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+15.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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