Hong Kong SAR, China: Refrigerated Show-Cases Market 2024

Refrigerated Show-Cases Market Size in Hong Kong SAR, China

The Hong Kong refrigerated show-cases market reduced to $X in 2022, shrinking by -8.3% against the previous year. Overall, consumption, however, saw a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2015; however, from 2016 to 2022, consumption stood at a somewhat lower figure.

Refrigerated Show-Cases Production in Hong Kong SAR, China

In value terms, refrigerated show-cases production fell markedly to $X in 2022 estimated in export price. Over the period under review, production showed a abrupt descent. The pace of growth appeared the most rapid in 2015 with an increase of 41% against the previous year. As a result, production attained the peak level of $X. From 2016 to 2022, production growth failed to regain momentum.

Refrigerated Show-Cases Exports

Exports from Hong Kong SAR, China

In 2022, the amount of refrigerated show-caseses exported from Hong Kong SAR reduced rapidly to X units, with a decrease of -50.2% against the previous year. Over the period under review, exports saw a abrupt decrease. The growth pace was the most rapid in 2014 when exports increased by 34%. As a result, the exports reached the peak of X units. From 2015 to 2022, the growth of the exports failed to regain momentum.

In value terms, refrigerated show-cases exports declined rapidly to $X in 2022. In general, exports showed a drastic downturn. The pace of growth appeared the most rapid in 2017 when exports increased by 55% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

Japan (X units), the United States (X units) and Singapore (X units) were the main destinations of refrigerated show-cases exports from Hong Kong SAR, together comprising 59% of total exports. China, Macao SAR, the United Arab Emirates and Thailand lagged somewhat behind, together accounting for a further 33%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United Arab Emirates (with a CAGR of +21.6%), while the other leaders experienced a decline.

In value terms, Macao SAR ($X), China ($X) and Singapore ($X) were the largest markets for refrigerated show-cases exported from Hong Kong SAR worldwide, with a combined 56% share of total exports. The United Arab Emirates, Japan, the United States and Thailand lagged somewhat behind, together accounting for a further 19%.

The United Arab Emirates, with a CAGR of +31.7%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average refrigerated show-cases export price stood at $X per unit in 2022, jumping by 17% against the previous year. Over the period under review, the export price showed a prominent expansion. The most prominent rate of growth was recorded in 2019 when the average export price increased by 46% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2020 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Macao SAR ($X per unit), while the average price for exports to the United States ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (+11.0%), while the prices for the other major destinations experienced more modest paces of growth.

Refrigerated Show-Cases Imports

Imports into Hong Kong SAR, China

In 2022, imports of refrigerated show-caseses into Hong Kong SAR surged to X units, jumping by 32% against 2021. Over the period under review, imports showed resilient growth. The growth pace was the most rapid in 2021 with an increase of 77%. Over the period under review, imports attained the peak figure in 2022 and are likely to continue growth in years to come.

In value terms, refrigerated show-cases imports shrank sharply to $X in 2022. The total import value increased at an average annual rate of +1.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 34%. As a result, imports reached the peak of $X, and then shrank markedly in the following year.

Imports by Country

In 2022, China (X units) was the main refrigerated show-cases supplier to Hong Kong SAR, with a 93% share of total imports. It was followed by Germany (X units), with a 2.4% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +8.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+5.5% per year) and Taiwan (Chinese) (-1.7% per year).

In value terms, China ($X) constituted the largest supplier of refrigerated show-caseses to Hong Kong SAR, comprising 67% of total imports. The second position in the ranking was taken by Germany ($X), with a 12% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China totaled +2.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+7.3% per year) and Taiwan (Chinese) (-2.1% per year).

Import Prices by Country

The average refrigerated show-cases import price stood at $X per unit in 2022, shrinking by -37.4% against the previous year. Over the period under review, the import price saw a abrupt setback. The most prominent rate of growth was recorded in 2013 when the average import price increased by 31% against the previous year. Over the period under review, average import prices attained the maximum at $X per unit in 2016; however, from 2017 to 2022, import prices failed to regain momentum.

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 Taiwan (Chinese) ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+1.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform