Hong Kong SAR, China: Sorbitol Market 2024

Sorbitol Market Size in Hong Kong SAR, China

The Hong Kong sorbitol market skyrocketed to $X in 2021, with an increase of 107% against the previous year. In general, consumption posted a buoyant increase. Over the period under review, the market attained the peak level in 2021 and is expected to retain growth in the immediate term.

Sorbitol Production in Hong Kong SAR, China

In value terms, sorbitol production stood at $X in 2021 estimated in export price. Over the period under review, the total production indicated moderate growth from 2012 to 2021: its value increased at an average annual rate of +4.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -5.0% against 2019 indices. The growth pace was the most rapid in 2019 with an increase of 37% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2021, production growth remained at a lower figure.

Sorbitol Exports

Exports from Hong Kong SAR, China

In 2021, shipments abroad of sorbitol (excluding d-glucitol) decreased by -4% to X kg, falling for the fourth consecutive year after two years of growth. Overall, exports recorded a sharp curtailment. The most prominent rate of growth was recorded in 2016 when exports increased by 472% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, sorbitol exports dropped dramatically to $X in 2021. In general, exports showed a sharp contraction. The most prominent rate of growth was recorded in 2017 when exports increased by 249% against the previous year. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

Egypt (X kg) was the main destination for sorbitol exports from Hong Kong SAR, with a 83% share of total exports. Moreover, sorbitol exports to Egypt exceeded the volume sent to the second major destination, Guatemala (X kg), fivefold.

From 2012 to 2021, the average annual growth rate of volume to Egypt stood at -39.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Guatemala (-48.2% per year) and Singapore (-58.7% per year).

In value terms, Egypt ($X) remains the key foreign market for sorbitol (excluding d-glucitol) exports from Hong Kong SAR, comprising 96% of total exports. The second position in the ranking was held by Guatemala ($X), with a 4% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Egypt totaled -39.7%.

Export Prices by Country

The average sorbitol export price stood at $X per ton in 2021, falling by -16.7% against the previous year. Over the period under review, the export price, however, saw a resilient increase. The growth pace was the most rapid in 2017 when the average export price increased by 154%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2019; however, from 2020 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Egypt ($X per ton), while the average price for exports to Singapore ($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 Egypt (+0.0%), while the prices for the other major destinations experienced a decline.

Sorbitol Imports

Imports into Hong Kong SAR, China

In 2021, sorbitol imports into Hong Kong SAR soared to X tons, growing by 221% against 2020 figures. In general, imports continue to indicate a buoyant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, sorbitol imports skyrocketed to $X in 2021. Over the period under review, imports showed strong growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X tons), Indonesia (X tons) and France (X tons) were the main suppliers of sorbitol imports to Hong Kong SAR, with a combined 58% share of total imports.

From 2012 to 2021, the biggest increases were recorded for France (with a CAGR of +721.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), China ($X) and France ($X) were the largest sorbitol suppliers to Hong Kong SAR, together accounting for 56% of total imports.

France, with a CAGR of +100.0%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average sorbitol import price stood at $X per ton in 2021, with an increase of 6% against the previous year. In general, the import price, however, continues to indicate a deep slump. The most prominent rate of growth was recorded in 2019 when the average import price increased by 12% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+1.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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