Hong Kong SAR, China: Market for Pig Meat other than Hams or Bellies (Salted, in Brine, Dried or Smoked) 2024

Market Size for Pig Meat other than Hams or Bellies (Salted, in Brine, Dried or Smoked) in Hong Kong SAR, China

In 2022, the Hong Kong market for pig meat other than hams or bellies (salted, in brine, dried or smoked) decreased by X% to $X for the first time since 2019, thus ending a two-year rising trend. In general, consumption continues to indicate a abrupt shrinkage. Consumption of peaked at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Exports of Pig Meat other than Hams or Bellies (Salted, in Brine, Dried or Smoked)

Exports from Hong Kong SAR, China

In 2022, overseas shipments of pig meat other than hams or bellies (salted, in brine, dried or smoked) decreased by X% to X tons, falling for the fourth consecutive year after three years of growth. Over the period under review, exports saw a deep downturn. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. As a result, the exports attained the peak of X tons. From 2015 to 2022, the growth of the exports of remained at a lower figure.

In value terms, exports of pig meat other than hams or bellies (salted, in brine, dried or smoked) declined dramatically to $X in 2022. In general, exports saw a abrupt curtailment. The pace of growth appeared the most rapid in 2013 when exports increased by X% against the previous year. Over the period under review, the exports of attained the peak figure at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

Macao SAR (X tons) was the main destination for exports of pig meat other than hams or bellies (salted, in brine, dried or smoked) from Hong Kong SAR, with a X% share of total exports. Moreover, exports of pig meat other than hams or bellies (salted, in brine, dried or smoked) to Macao SAR exceeded the volume sent to the second major destination, China (X kg), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Macao SAR stood at X%.

In value terms, Macao SAR ($X) remains the key foreign market for pig meat other than hams or bellies (salted, in brine, dried or smoked) exports from Hong Kong SAR, comprising X% of total exports. The second position in the ranking was held by China ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Macao SAR totaled X%.

Export Prices by Country

The average export price for pig meat other than hams or bellies (salted, in brine, dried or smoked) stood at $X per ton in 2022, which is down by X% against the previous year. In general, the export price, however, enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2015 when the average export price increased by X%. The export price peaked at $X per ton in 2021, and then declined in the following year.

There were significant differences in the average prices 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 China totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Macao SAR (X%).

Imports of Pig Meat other than Hams or Bellies (Salted, in Brine, Dried or Smoked)

Imports into Hong Kong SAR, China

In 2022, after two years of growth, there was significant decline in purchases abroad of pig meat other than hams or bellies (salted, in brine, dried or smoked), when their volume decreased by X% to X tons. In general, imports continue to indicate a deep downturn. The growth pace was the most rapid in 2013 with an increase of X%. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, imports of pig meat other than hams or bellies (salted, in brine, dried or smoked) dropped remarkably to $X in 2022. Over the period under review, imports continue to indicate a abrupt setback. The growth pace was the most rapid in 2013 when imports increased by X% against the previous year. Imports peaked at $X in 2015; however, from 2016 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of salted, dried, or smoked pig meat other than hams or bellies to Hong Kong SAR, with a X% share of total imports. Moreover, imports of pig meat other than hams or bellies (salted, in brine, dried or smoked) from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), fourfold. Italy (X tons) ranked third in terms of total imports with a X% share.

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

In value terms, the largest salted, dried, or smoked pig meat other than hams or bellies suppliers to Hong Kong SAR were China ($X), Italy ($X) and the United States ($X), together comprising X% of total imports. Taiwan (Chinese) and Japan lagged somewhat behind, together accounting for a further X%.

Among the main suppliers, Japan, with a CAGR of X%, 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 more modest paces of growth.

Import Prices by Country

In 2022, the average import price for pig meat other than hams or bellies (salted, in brine, dried or smoked) amounted to $X per ton, rising by X% against the previous year. Overall, the import price enjoyed a resilient increase. The pace of growth was the most pronounced in 2015 an increase of X% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2017; however, from 2018 to 2022, import prices stood at a somewhat lower figure.

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

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

Source: IndexBox Platform