Hong Kong SAR, China: Paper Bag Market 2024

Paper Bag Market Size in Hong Kong SAR, China

The Hong Kong paper bag market dropped to $X in 2021, with a decrease of -9% against the previous year. Over the period under review, the total consumption indicated a modest increase from 2012 to 2021: its value increased at an average annual rate of +1.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +11.6% against 2019 indices. Over the period under review, the market reached the peak level at $X in 2017; however, from 2018 to 2021, consumption failed to regain momentum.

Paper Bag Production in Hong Kong SAR, China

In value terms, paper bag production shrank to $X in 2021 estimated in export price. In general, production, however, recorded a slight increase. The growth pace was the most rapid in 2015 with an increase of 72% against the previous year. Over the period under review, production reached the maximum level at $X in 2017; however, from 2018 to 2021, production stood at a somewhat lower figure.

Paper Bag Exports

Exports from Hong Kong SAR, China

In 2021, after seven years of decline, there was significant growth in shipments abroad of sacks and bags of paper, when their volume increased by 29% to X tons. In general, exports, however, recorded a abrupt decline. Over the period under review, the exports hit record highs at X tons in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

In value terms, paper bag exports surged to $X in 2021. Overall, exports, however, recorded a abrupt downturn. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

China (X tons), the United States (X tons) and France (X tons) were the main destinations of paper bag exports from Hong Kong SAR, with a combined 40% share of total exports. These countries were followed by Japan, Vietnam, South Korea, Taiwan (Chinese), Singapore, the UK, Germany, the Philippines, Macao SAR and Australia, which together accounted for a further 39%.

From 2012 to 2021, the biggest increases were recorded for Macao SAR (with a CAGR of +6.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), China ($X) and France ($X) appeared to be the largest markets for paper bag exported from Hong Kong SAR worldwide, together accounting for 42% of total exports. These countries were followed by Japan, South Korea, Vietnam, Singapore, the UK, Taiwan (Chinese), Germany, Australia, Macao SAR and the Philippines, which together accounted for a further 37%.

Among the main countries of destination, Macao SAR, with a CAGR of +9.1%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average paper bag export price stood at $X per ton in 2021, flattening at the previous year. In general, export price indicated noticeable growth from 2012 to 2021: its price 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, paper bag export price decreased by -1.2% against 2019 indices. The most prominent rate of growth was recorded in 2014 when the average export price increased by 47% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2019; afterwards, it flattened through to 2021.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to the Philippines ($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 Vietnam (+7.7%), while the prices for the other major destinations experienced more modest paces of growth.

Paper Bag Imports

Imports into Hong Kong SAR, China

In 2021, purchases abroad of sacks and bags of paper was finally on the rise to reach X tons after eight years of decline. Over the period under review, imports, however, continue to indicate a noticeable setback. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, paper bag imports skyrocketed to $X in 2021. In general, imports, however, recorded a relatively flat trend pattern. Over the period under review, imports hit record highs at $X in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) was the main paper bag supplier to Hong Kong SAR, accounting for a approx. 95% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled -2.4%.

In value terms, China ($X) constituted the largest supplier of sacks and bags of paper to Hong Kong SAR.

From 2012 to 2021, the average annual growth rate of value from China was relatively modest.

Import Prices by Country

In 2021, the average paper bag import price amounted to $X per ton, picking up by 7.5% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.0%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

As there is only one major supplying country, the average price level is determined by prices for China.

From 2012 to 2021, the rate of growth in terms of prices for China amounted to +2.0% per year.

Source: IndexBox Platform

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