Hong Kong SAR, China: Veterinary Medicine Vaccines Market 2024

Veterinary Medicine Vaccines Market Size in Hong Kong SAR, China

The Hong Kong veterinary medicine vaccines market dropped to $X in 2021, falling by -8.5% against the previous year. Over the period under review, consumption, however, recorded a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2015; however, from 2016 to 2021, consumption stood at a somewhat lower figure.

Veterinary Medicine Vaccines Production in Hong Kong SAR, China

In value terms, veterinary medicine vaccines production fell slightly to $X in 2021 estimated in export price. In general, production, however, posted a tangible increase. The most prominent rate of growth was recorded in 2014 with an increase of 92%. Veterinary medicine vaccines production peaked at $X in 2015; however, from 2016 to 2021, production remained at a lower figure.

Veterinary Medicine Vaccines Exports

Exports from Hong Kong SAR, China

In 2021, after two years of growth, there was significant decline in overseas shipments of vaccines for veterinary medicine, when their volume decreased by -25.9% to X tons. Overall, exports recorded a abrupt shrinkage. The growth pace was the most rapid in 2020 when exports increased by 19% against the previous year. Over the period under review, the exports hit record highs at X tons in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

In value terms, veterinary medicine vaccines exports fell dramatically to $X in 2021. In general, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 29% against the previous year. Over the period under review, the exports hit record highs at $X in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

China (X tons) was the main destination for veterinary medicine vaccines exports from Hong Kong SAR, with a approx. 100% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to China totaled -6.3%.

In value terms, China ($X) also remains the key foreign market for vaccines for veterinary medicine exports from Hong Kong SAR.

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

Export Prices by Country

In 2021, the average veterinary medicine vaccines export price amounted to $X per ton, increasing by 7.6% against the previous year. Overall, export price indicated a resilient expansion from 2012 to 2021: its price increased at an average annual rate of +6.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, veterinary medicine vaccines export price increased by +16.4% against 2019 indices. The pace of growth appeared the most rapid in 2014 when the average export price increased by 23%. The export price peaked in 2021 and is likely to continue growth in the near future.

As there is only one major export destination, 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 +6.7% per year.

Veterinary Medicine Vaccines Imports

Imports into Hong Kong SAR, China

In 2021, overseas purchases of vaccines for veterinary medicine decreased by -29.3% to X tons, falling for the second consecutive year after two years of growth. Over the period under review, imports continue to indicate a abrupt descent. The growth pace was the most rapid in 2019 when imports increased by 83% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, veterinary medicine vaccines imports rose to $X in 2021. Overall, imports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 with an increase of 72%. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

Thailand (X tons), the United States (X tons) and Malaysia (X tons) were the main suppliers of veterinary medicine vaccines imports to Hong Kong SAR, together comprising 74% of total imports. China, the Philippines, Spain, the UK, France, Italy, the Netherlands and South Korea lagged somewhat behind, together comprising a further 21%.

From 2012 to 2021, the biggest increases were recorded for the Philippines (with a CAGR of +15.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X), the United States ($X) and Malaysia ($X) constituted the largest veterinary medicine vaccines suppliers to Hong Kong SAR, with a combined 74% share of total imports. China, the Philippines, Spain, the UK, France, Italy, the Netherlands and South Korea lagged somewhat behind, together accounting for a further 21%.

Among the main suppliers, the Philippines, with a CAGR of +28.0%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average veterinary medicine vaccines import price amounted to $X per ton, growing by 46% against the previous year. Overall, the import price enjoyed a resilient expansion. The pace of growth was the most pronounced in 2020 when the average import price increased by 87%. Over the period under review, average import prices attained the maximum in 2021 and is likely to see steady growth in years to come.

Average prices varied noticeably amongst the major supplying countries. In 2021, the highest price was recorded for prices from South Korea ($X per ton) and Italy ($X per ton), while the price for the Netherlands ($X per ton) and Thailand ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+14.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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