Hong Kong SAR, China - Beef (Cattle Meat) - Market Analysis, Forecast, Size, Trends and Insights
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View PricingBeef Price in Hong Kong SAR - 2023
Contents:
- Beef Price in Hong Kong SAR (CIF) - 2023
- Beef Price in Hong Kong SAR (FOB) - 2023
- Beef Imports in Hong Kong SAR
- Beef Exports in Hong Kong SAR
Beef Price in Hong Kong SAR (CIF) - 2023
The average beef import price stood at $9,676 per ton in June 2023, jumping by 16% against the previous month. Overall, the import price, however, saw a slight reduction. Over the period under review, average import prices reached the peak figure at $10,970 per ton in June 2022; however, from July 2022 to June 2023, import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In June 2023, the country with the highest price was Australia ($15,141 per ton), while the price for Mexico ($4,821 per ton) was amongst the lowest.
From June 2022 to June 2023, the most notable rate of growth in terms of prices was attained by China (+0.1%), while the prices for the other major suppliers experienced a decline.
Beef Price in Hong Kong SAR (FOB) - 2023
The average beef export price stood at $5,634 per ton in June 2023, rising by 20% against the previous month. Over the period under review, the export price showed a prominent increase. The growth pace was the most rapid in March 2023 when the average export price increased by 97% against the previous month. As a result, the export price reached the peak level of $5,849 per ton. From April 2023 to June 2023, the the average export prices failed to regain momentum.
There were significant differences in the average prices for the major overseas markets. In June 2023, the country with the highest price was Macao SAR ($8,689 per ton), while the average price for exports to Taiwan (Chinese) ($1,903 per ton) was amongst the lowest.
From June 2022 to June 2023, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+4.4%), while the prices for the other major destinations experienced more modest paces of growth.
Beef Imports in Hong Kong SAR
For the third consecutive year, Hong Kong SAR recorded decline in purchases abroad of beef (cattle meat), which decreased by -62.1% to 99K tons in 2022. Overall, imports saw a precipitous decline. The smallest decline of -8.7% was in 2020.
In value terms, beef imports reduced notably to $829M in 2022. In general, imports saw a dramatic decline. The pace of growth appeared the most rapid in 2020 with an increase of 1.3% against the previous year. As a result, imports reached the peak of $1.8B. From 2021 to 2022, the growth of imports remained at a lower figure.
| Import of Beef in Hong Kong SAR (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 673 | 575 | 444 | 324 | -21.6% |
| Brazil | 692 | 778 | 622 | 203 | -33.6% |
| Australia | 73.4 | 85.6 | 90.5 | 83.8 | 4.5% |
| Japan | 41.3 | 52.5 | 69.5 | 66.1 | 17.0% |
| Canada | 114 | 77.6 | 64.1 | 38.0 | -30.7% |
| New Zealand | 19.5 | 20.8 | 27.3 | 27.2 | 11.7% |
| United Kingdom | 51.9 | 35.7 | 27.7 | 23.4 | -23.3% |
| China | 21.0 | 20.7 | 22.3 | 19.5 | -2.4% |
| Mexico | 32.3 | 28.0 | 30.8 | 11.8 | -28.5% |
| Ireland | 37.6 | 16.0 | 19.0 | 5.5 | -47.3% |
| Others | 55.3 | 146 | 138 | 26.0 | -22.2% |
| Total | 1,812 | 1,835 | 1,556 | 829 | -22.9% |
Top Suppliers of Beef to Hong Kong SAR in 2022:
- Brazil (46.1K tons)
- United States (23.6K tons)
- Australia (4.7K tons)
- United Kingdom (3.7K tons)
- Canada (3.6K tons)
- China (2.9K tons)
- New Zealand (2.5K tons)
- Mexico (2.2K tons)
- Japan (1.5K tons)
- Ireland (1.0K tons)
Beef Exports in Hong Kong SAR
In 2022, approx. 44K tons of beef (cattle meat) were exported from Hong Kong SAR; with an increase of 106% compared with 2021 figures. Overall, exports, however, showed a abrupt contraction.
In value terms, beef exports soared to $132M in 2022. In general, exports, however, recorded a precipitous decrease. The most prominent rate of growth was recorded in 2021 when exports increased by 49% against the previous year.
| Export of Beef in Hong Kong SAR (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Macao SAR | 60.2 | 43.2 | 54.7 | 49.3 | -6.4% |
| Taiwan (Chinese) | 60.0 | 12.8 | 12.3 | 39.4 | -13.1% |
| Brazil | N/A | N/A | N/A | 17.2 | 0% |
| South Korea | 24.0 | 3.2 | 3.8 | 7.5 | -32.1% |
| China | 0.3 | N/A | 0.1 | 4.0 | 137.1% |
| Vietnam | 142 | 5.4 | 26.3 | 3.8 | -70.1% |
| Albania | N/A | N/A | N/A | 2.6 | 0% |
| Others | 2.1 | 0.8 | 0.4 | 8.3 | 58.1% |
| Total | 289 | 65.4 | 97.6 | 132 | -23.0% |
Top Export Markets for Beef from Hong Kong SAR in 2022:
- Taiwan (Chinese) (22.3K tons)
- Brazil (7.8K tons)
- Macao SAR (5.8K tons)
- South Korea (3.4K tons)
- China (1.6K tons)
- Vietnam (1.4K tons)
- Albania (1.0K tons)
This report provides an in-depth analysis of the beef market in Hong Kong SAR, China. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- FCL 947 - Buffalo meat
- FCL 867 - Meat of cattle
Country coverage:
- Hong Kong SAR
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Hong Kong SAR, China
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- COUNTRIES WITH TOP YIELDS
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION, PRODUCING ANIMALS AND YIELD
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Yield And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Producing Animals Slaughtered, 2012–2023
- Yield, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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