Hong Kong SAR, China: Fresh Chicken Cut Market 2024

Fresh Chicken Cut Market Size in Hong Kong SAR, China

In 2021, the Hong Kong fresh chicken cut market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. Over the period under review, the total consumption indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +5.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -3.6% against 2018 indices. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market remained at a somewhat lower figure.

Fresh Chicken Cut Production in Hong Kong SAR, China

In value terms, fresh chicken cut production expanded to $X in 2021 estimated in export price. Overall, the total production indicated a measured increase from 2012 to 2021: its value increased at an average annual rate of +4.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -8.7% against 2018 indices. The most prominent rate of growth was recorded in 2014 with an increase of 68% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2021, production growth remained at a somewhat lower figure.

Fresh Chicken Cut Exports

Exports from Hong Kong SAR, China

In 2021, the amount of fresh or chilled cuts of chicken exported from Hong Kong SAR was estimated at X tons, growing by 9.3% on the previous year. In general, exports, however, faced a abrupt downturn. The pace of growth was the most pronounced in 2019 when exports increased by 9,816% against the previous year. The exports peaked at X tons in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, fresh chicken cut exports declined modestly to $X in 2021. Overall, exports, however, continue to indicate a deep setback. The pace of growth was the most pronounced in 2019 when exports increased by 6,824% against the previous year. As a result, the exports reached the peak of $X. From 2020 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Macao SAR (X tons) was the main destination for fresh chicken cut exports from Hong Kong SAR, accounting for a approx. 100% share of total exports.

From 2014 to 2021, the average annual growth rate of volume to Macao SAR stood at +175.0%.

In value terms, Macao SAR ($X) also remains the key foreign market for fresh or chilled cuts of chicken exports from Hong Kong SAR.

From 2014 to 2021, the average annual rate of growth in terms of value to Macao SAR amounted to +143.3%.

Export Prices by Country

In 2021, the average fresh chicken cut export price amounted to $X per ton, which is down by -9.7% against the previous year. Overall, the export price saw a noticeable downturn. Over the period under review, the average export prices reached the maximum at $X per ton in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Macao SAR.

From 2014 to 2021, the rate of growth in terms of prices for Macao SAR amounted to -11.5% per year.

Fresh Chicken Cut Imports

Imports into Hong Kong SAR, China

After nine years of growth, overseas purchases of fresh or chilled cuts of chicken decreased by -3.4% to X tons in 2021. Overall, imports, however, continue to indicate significant growth. The most prominent rate of growth was recorded in 2019 when imports increased by 88%. Imports peaked at X tons in 2020, and then declined slightly in the following year.

In value terms, fresh chicken cut imports contracted to $X in 2021. Over the period under review, imports, however, posted significant growth. The growth pace was the most rapid in 2018 with an increase of 68%. Over the period under review, imports attained the peak figure at $X in 2020, and then dropped in the following year.

Imports by Country

In 2021, China (X tons) constituted the largest fresh chicken cut supplier to Hong Kong SAR, accounting for a 65% share of total imports. Moreover, fresh chicken cut imports from China exceeded the figures recorded by the second-largest supplier, Thailand (X tons), threefold. The third position in this ranking was taken by the United States (X tons), with a 4.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +270.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+25.5% per year) and the United States (+44.7% per year).

In value terms, China ($X), Thailand ($X) and Australia ($X) appeared to be the largest fresh chicken cut suppliers to Hong Kong SAR, together comprising 95% of total imports.

China, with a CAGR of +227.1%, 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

In 2021, the average fresh chicken cut import price amounted to $X per ton, which is down by -1.8% against the previous year. Overall, the import price showed a abrupt downturn. The pace of growth appeared the most rapid in 2013 an increase of 2.2% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2021, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Australia ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+2.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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