Hong Kong SAR, China: Turkey Meat Market 2024

Turkey Meat Market Size in Hong Kong SAR, China

For the fourth consecutive year, the Hong Kong turkey meat market recorded decline in sales value, which decreased by -53.2% to $X in 2022. In general, consumption saw a abrupt descent. Turkey meat consumption peaked at $X in 2016; however, from 2017 to 2022, consumption failed to regain momentum.

Turkey Meat Production in Hong Kong SAR, China

In value terms, turkey meat production stood at $X in 2022 estimated in export price. In general, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the production volume decreased by 99.9% against the previous year. Turkey meat production peaked at $X in 2015; however, from 2016 to 2022, production stood at a somewhat lower figure.

Turkey Meat Exports

Exports from Hong Kong SAR, China

In 2022, exports of turkey meat from Hong Kong SAR soared to X tons, picking up by 18% compared with the previous year. Overall, exports, however, recorded a precipitous decline. The growth pace was the most rapid in 2015 when exports increased by 148% against the previous year. As a result, the exports reached the peak of X tons. From 2016 to 2022, the growth of the exports remained at a lower figure.

In value terms, turkey meat exports soared to $X in 2022. Over the period under review, exports, however, continue to indicate a dramatic curtailment. The most prominent rate of growth was recorded in 2015 when exports increased by 106% against the previous year. Over the period under review, the exports attained the maximum at $X in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

Exports by Country

Taiwan (Chinese) (X tons), Macao SAR (X tons) and Vietnam (X tons) were the main destinations of turkey meat exports from Hong Kong SAR.

From 2012 to 2022, the biggest increases were recorded for Macao SAR (with a CAGR of +5.8%), while shipments for the other leaders experienced a decline.

In value terms, the largest markets for turkey meat exported from Hong Kong SAR were Macao SAR ($X), Taiwan (Chinese) ($X) and Vietnam ($X).

In terms of the main countries of destination, Macao SAR, with a CAGR of +3.5%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average turkey meat export price stood at $X per ton in 2022, growing by 6.4% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 an increase of 48% against the previous year. The export price peaked at $X per ton in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Macao SAR ($X per ton), while the average price for exports to Vietnam ($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 (+5.6%), while the prices for the other major destinations experienced mixed trend patterns.

Turkey Meat Imports

Imports into Hong Kong SAR, China

In 2022, approx. X tons of turkey meat were imported into Hong Kong SAR; declining by -51.1% compared with 2021 figures. Over the period under review, imports showed a precipitous contraction. The growth pace was the most rapid in 2016 when imports increased by 186%. As a result, imports reached the peak of X tons. From 2017 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, turkey meat imports declined notably to $X in 2022. In general, imports recorded a deep slump. The most prominent rate of growth was recorded in 2016 with an increase of 127% against the previous year. As a result, imports reached the peak of $X. From 2017 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Brazil (X tons), the United States (X tons) and Poland (X tons) were the main suppliers of turkey meat imports to Hong Kong SAR, together comprising 65% of total imports. Russia, the UK, Canada, Chile, Australia, Turkey, Germany, Spain, New Zealand and France lagged somewhat behind, together comprising a further 33%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Russia (with a CAGR of +45.2%), while imports for the other leaders experienced mixed trend patterns.

In value terms, the largest turkey meat suppliers to Hong Kong SAR were the United States ($X), Brazil ($X) and Russia ($X), with a combined 69% share of total imports.

Russia, with a CAGR of +83.6%, saw the highest rates of growth with regard to the value of imports, among 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 turkey meat import price stood at $X per ton in 2022, with an increase of 30% against the previous year. In general, import price indicated tangible growth from 2012 to 2022: its price increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, turkey meat import price increased by +132.4% against 2016 indices. The most prominent rate of growth was recorded in 2021 an increase of 41% against the previous year. Over the period under review, average import prices attained the peak figure in 2022 and is likely to continue growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (+26.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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