Hong Kong SAR, China: Prepared Mustard Market 2024

Prepared Mustard Market Size in Hong Kong SAR, China

The Hong Kong prepared mustard market shrank to $X in 2023, with a decrease of X% against the previous year. In general, consumption, however, continues to indicate a prominent expansion. As a result, consumption attained the peak level of $X. From 2021 to 2023, the growth of the market remained at a somewhat lower figure.

Prepared Mustard Production in Hong Kong SAR, China

In value terms, prepared mustard production declined modestly to $X in 2023 estimated in export price. Overall, production, however, recorded a resilient expansion. The growth pace was the most rapid in 2020 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2023, production growth remained at a somewhat lower figure.

Prepared Mustard Exports

Exports from Hong Kong SAR, China

After two years of growth, overseas shipments of prepared mustard decreased by X% to X tons in 2023. Overall, exports showed a perceptible setback. The pace of growth appeared the most rapid in 2022 with an increase of X%. The exports peaked at X tons in 2012; however, from 2013 to 2023, the exports failed to regain momentum.

In value terms, prepared mustard exports shrank to $X in 2023. Over the period under review, exports, however, saw prominent growth. The pace of growth appeared the most rapid in 2022 with an increase of X% against the previous year. As a result, the exports reached the peak of $X, and then shrank in the following year.

Exports by Country

Vietnam (X tons) was the main destination for prepared mustard exports from Hong Kong SAR, with a X% share of total exports. Moreover, prepared mustard exports to Vietnam exceeded the volume sent to the second major destination, China (X tons), sevenfold. Macao SAR (X tons) ranked third in terms of total exports with an X% share.

From 2012 to 2023, the average annual growth rate of volume to Vietnam totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (X% per year) and Macao SAR (X% per year).

In value terms, Vietnam ($X) remains the key foreign market for prepared mustard exports from Hong Kong SAR, comprising X% of total exports. The second position in the ranking was taken by Macao SAR ($X), with a X% share of total exports. It was followed by China, with a X% share.

From 2012 to 2023, the average annual growth rate of value to Vietnam amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Macao SAR (X% per year) and China (X% per year).

Export Prices by Country

The average prepared mustard export price stood at $X per ton in 2023, rising by X% against the previous year. In general, the export price recorded a strong increase. The most prominent rate of growth was recorded in 2014 an increase of X% against the previous year. The export price peaked in 2023 and is likely to see gradual growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while the average price for exports to Canada ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to China (X%), while the prices for the other major destinations experienced more modest paces of growth.

Prepared Mustard Imports

Imports into Hong Kong SAR, China

In 2023, approx. X tons of prepared mustard were imported into Hong Kong SAR; growing by X% on 2022. In general, imports, however, recorded a deep slump. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, imports reached the maximum at X tons in 2012; however, from 2013 to 2023, imports remained at a lower figure.

In value terms, prepared mustard imports surged to $X in 2023. Overall, imports, however, continue to indicate a noticeable descent. The pace of growth was the most pronounced in 2021 when imports increased by X%. Imports peaked at $X in 2013; however, from 2014 to 2023, imports stood at a somewhat lower figure.

Imports by Country

In 2023, China (X tons) constituted the largest supplier of prepared mustard to Hong Kong SAR, accounting for a X% share of total imports. Moreover, prepared mustard imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), twofold. The third position in this ranking was held by France (X tons), with an X% share.

From 2012 to 2023, the average annual growth rate of volume from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and France (X% per year).

In value terms, the largest prepared mustard suppliers to Hong Kong SAR were China ($X), Japan ($X) and France ($X), together comprising X% of total imports.

China, with a CAGR of X%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2023, the average prepared mustard import price amounted to $X per ton, growing by X% against the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2013 an increase of X% against the previous year. Over the period under review, average import prices reached the peak figure in 2023 and is likely to see steady growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Japan ($X per ton), while the price for Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2023, 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