Hong Kong SAR, China: Tomato Puree Market 2024

Tomato Puree Market Size in Hong Kong SAR, China

For the third consecutive year, the Hong Kong tomato puree market recorded decline in sales value, which decreased by -0.5% to $X in 2022. In general, consumption, however, showed a relatively flat trend pattern. Tomato puree consumption peaked at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Tomato Puree Production in Hong Kong SAR, China

In value terms, tomato puree production reduced to $X in 2022 estimated in export price. In general, production, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 27%. Tomato puree production peaked at $X in 2017; however, from 2018 to 2022, production remained at a lower figure.

Tomato Puree Exports

Exports from Hong Kong SAR, China

In 2022, the amount of tomato puree and paste exported from Hong Kong SAR shrank sharply to X tons, waning by -74.6% compared with the previous year's figure. In general, exports continue to indicate a abrupt decline. The pace of growth appeared the most rapid in 2018 when exports increased by 46% against the previous year. As a result, the exports reached the peak of X tons. From 2019 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, tomato puree exports reduced markedly to $X in 2022. Over the period under review, exports continue to indicate a abrupt downturn. The pace of growth was the most pronounced in 2014 with an increase of 76% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Macao SAR (X tons), China (X tons) and Taiwan (Chinese) (X tons) were the main destinations of tomato puree exports from Hong Kong SAR.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Macao SAR (with a CAGR of -1.9%), while the other leaders experienced a decline.

In value terms, Macao SAR ($X), China ($X) and Taiwan (Chinese) ($X) were the largest markets for tomato puree exported from Hong Kong SAR worldwide.

In terms of the main countries of destination, Macao SAR, with a CAGR of -0.1%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average tomato puree export price stood at $X per ton in 2022, surging by 38% against the previous year. Overall, export price indicated a temperate expansion from 2012 to 2022: its price increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, tomato puree export price increased by +54.8% against 2020 indices. Over the period under review, the average export prices attained the maximum at $X per ton in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Macao SAR ($X per ton), while the average price for exports to Taiwan (Chinese) ($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 China (+4.3%), while the prices for the other major destinations experienced mixed trend patterns.

Tomato Puree Imports

Imports into Hong Kong SAR, China

In 2022, supplies from abroad of tomato puree and paste decreased by -15.3% to X tons, falling for the second year in a row after four years of growth. Over the period under review, imports recorded a pronounced curtailment. The pace of growth appeared the most rapid in 2018 when imports increased by 21%. Over the period under review, imports hit record highs at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, tomato puree imports reduced to $X in 2022. In general, imports recorded a noticeable downturn. The pace of growth appeared the most rapid in 2018 when imports increased by 21%. Imports peaked at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

China (X tons), Italy (X tons) and the United States (X tons) were the main suppliers of tomato puree imports to Hong Kong SAR, with a combined 91% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Italy (with a CAGR of +7.5%), while imports for the other leaders experienced mixed trend patterns.

In value terms, the largest tomato puree suppliers to Hong Kong SAR were China ($X), Italy ($X) and the United States ($X), with a combined 91% share of total imports.

In terms of the main suppliers, Italy, with a CAGR of +9.7%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average tomato puree import price stood at $X per ton in 2022, approximately reflecting the previous year. In general, the import price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 an increase of 11%. The import price peaked at $X per ton in 2019; however, from 2020 to 2022, 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 United States ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+2.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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