Hong Kong SAR, China: Wheat Gluten Market 2024

Wheat Gluten Market Size in Hong Kong SAR, China

The Hong Kong wheat gluten market skyrocketed to $X in 2022, picking up by 101% against the previous year. Overall, consumption saw a pronounced expansion. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Wheat Gluten Production in Hong Kong SAR, China

In value terms, wheat gluten production stood at $X in 2022 estimated in export price. Over the period under review, production continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the production volume decreased by 99.9% against the previous year. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Wheat Gluten Exports

Exports from Hong Kong SAR, China

Wheat gluten exports from Hong Kong SAR declined to X tons in 2022, with a decrease of -2.6% against 2021 figures. Overall, exports saw a precipitous descent. The pace of growth was the most pronounced in 2016 with an increase of 83% against the previous year. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, wheat gluten exports fell to $X in 2022. Over the period under review, exports continue to indicate a sharp downturn. The pace of growth appeared the most rapid in 2016 with an increase of 86% against the previous year. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Brazil (X tons), Zimbabwe (X tons) and Singapore (X kg) were the main destinations of wheat gluten exports from Hong Kong SAR, with a combined 98% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Singapore (with a CAGR of -17.9%), while shipments for the other leaders experienced a decline.

In value terms, Brazil ($X), Zimbabwe ($X) and Singapore ($X) were the largest markets for wheat gluten exported from Hong Kong SAR worldwide, together accounting for 96% of total exports.

Singapore, with a CAGR of -15.7%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average wheat gluten export price stood at $X per ton in 2022, with a decrease of -12.4% against the previous year. Over the last decade, it increased at an average annual rate of +4.1%. The growth pace was the most rapid in 2021 when the average export price increased by 34% against the previous year. As a result, the export price reached the peak level of $X per ton, and then fell in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Singapore ($X per ton), while the average price for exports to Brazil ($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 Israel (+5.5%), while the prices for the other major destinations experienced more modest paces of growth.

Wheat Gluten Imports

Imports into Hong Kong SAR, China

In 2022, supplies from abroad of wheat gluten was finally on the rise to reach X tons for the first time since 2018, thus ending a three-year declining trend. In general, imports, however, recorded a abrupt slump. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, wheat gluten imports surged to $X in 2022. Overall, imports, however, continue to indicate a mild reduction. Over the period under review, imports attained the maximum at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of wheat gluten to Hong Kong SAR, accounting for a 81% share of total imports. Moreover, wheat gluten imports from China exceeded the figures recorded by the second-largest supplier, Australia (X tons), eightfold. South Korea (X tons) ranked third in terms of total imports with a 4.3% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled -2.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (+12.4% per year) and South Korea (+42.0% per year).

In value terms, China ($X) constituted the largest supplier of wheat gluten to Hong Kong SAR, comprising 80% of total imports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with an 8.1% share of total imports. It was followed by Australia, with a 6.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +1.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (-2.3% per year) and Australia (+4.9% per year).

Import Prices by Country

In 2022, the average wheat gluten import price amounted to $X per ton, which is down by -14.6% against the previous year. In general, import price indicated a moderate expansion from 2012 to 2022: its price increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2016 an increase of 46%. As a result, import price attained the peak level of $X per ton. From 2017 to 2022, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+34.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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