Hong Kong SAR, China: Pasta And Couscous Market 2024

Pasta And Couscous Market Size in Hong Kong SAR, China

In 2022, the Hong Kong pasta and couscous market decreased by -2.8% to $X, falling for the second year in a row after nine years of growth. In general, the total consumption indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +5.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -6.1% against 2020 indices. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Pasta And Couscous Exports

Exports from Hong Kong SAR, China

In 2022, shipments abroad of stuffed pasta and couscous decreased by -2.6% to X tons, falling for the third year in a row after eight years of growth. The total export volume increased at an average annual rate of +3.1% 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 2014 with an increase of 12% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, pasta and couscous exports declined slightly to $X in 2022. The total export value increased at an average annual rate of +4.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2015 when exports increased by 16% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

China (X tons), Macao SAR (X tons) and Canada (X tons) were the main destinations of pasta and couscous exports from Hong Kong SAR, with a combined 69% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by China (with a CAGR of +9.9%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for pasta and couscous exported from Hong Kong SAR were China ($X), Macao SAR ($X) and Canada ($X), with a combined 71% share of total exports.

China, with a CAGR of +9.7%, recorded the highest rates of growth with regard to 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 pasta and couscous export price stood at $X per ton in 2022, approximately equating the previous year. Over the last decade, it increased at an average annual rate of +1.1%. The most prominent rate of growth was recorded in 2013 an increase of 12%. The export price peaked at $X per ton in 2021, and then declined modestly in the following year.

Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the countries with the highest prices were Macao SAR ($X per ton) and the United States ($X per ton), while the average price for exports to France ($X per ton) and Australia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+3.6%), while the prices for the other major destinations experienced more modest paces of growth.

Pasta And Couscous Imports

Imports into Hong Kong SAR, China

In 2022, purchases abroad of stuffed pasta and couscous decreased by -10.3% to X tons for the first time since 2018, thus ending a three-year rising trend. Over the period under review, total imports indicated a perceptible expansion from 2012 to 2022: its volume increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 with an increase of 17%. Over the period under review, imports reached the maximum at X tons in 2021, and then reduced in the following year.

In value terms, pasta and couscous imports reduced modestly to $X in 2022. Overall, total imports indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -5.8% against 2020 indices. The pace of growth was the most pronounced in 2020 when imports increased by 23%. As a result, imports attained the peak of $X. From 2021 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest pasta and couscous supplier to Hong Kong SAR, with a 62% share of total imports. Moreover, pasta and couscous imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), fivefold. South Korea (X tons) ranked third in terms of total imports with an 8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +4.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+10.7% per year) and South Korea (+2.3% per year).

In value terms, China ($X) constituted the largest supplier of stuffed pasta and couscous to Hong Kong SAR, comprising 50% of total imports. The second position in the ranking was taken by Japan ($X), with a 19% share of total imports. It was followed by South Korea, with a 9% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +4.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+8.2% per year) and South Korea (+5.2% per year).

Import Prices by Country

In 2022, the average pasta and couscous import price amounted to $X per ton, surging by 11% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.2%. The most prominent rate of growth was recorded in 2018 when the average import price increased by 14% against the previous year. As a result, import price attained the peak level of $X per ton; afterwards, it flattened through to 2022.

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) ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+4.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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