Market research

Beef, sheep or goat fat market in Hong Kong

Release date: Mar 28, 2026

Submission: 15 minutes after payment

Research period: 2017-2025

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File format: docx, xlsx

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Earlier Report Observations

The market volume for beef, sheep, and goat fat in Hong Kong showed considerable volatility from 2018 to 2023. After a slight dip to 519.9 metric tons in 2019, consumption surged by over 30% to 682.8 metric tons in 2020. This was followed by a contraction to 566.1 metric tons in 2021, a partial recovery to 618.4 metric tons in 2022, and a further drop to 501.8 metric tons in 2023.

Domestic production gradually declined throughout the period, falling from 517.9 metric tons in 2018 to 474.7 metric tons in 2023. The sharp increase in market volume in 2020 was primarily due to a spike in imports, which reached 174.9 metric tons that year. Import levels subsequently moderated but remained elevated compared to pre-2020 figures, significantly influencing overall market size.

By 2023, the market had returned to a volume lower than that of 2018, with reduced imports and ongoing decline in local production. In 2024, imports fell sharply to 7 metric tons, while exports emerged for the first time in significant volume, reaching 65.3 metric tons, indicating a shift in trade dynamics.

Table of content

1. Disclaimer
2. Terms of use of the report
3. Product codes in the statistical classifications used in the report
4. Key Market Indicators and Trends
1. 4.1. Key Market Indicators
  1. 4.1.1. In kind
    1. 4.1.1.1. Production, 2018-2023
    2. 4.1.1.2. Imports, 2018-2024
    3. 4.1.1.3. Exports, 2018-2024
    4. 4.1.1.4. Market size, 2018-2023
2. 4.2. Market Trends and Factors
5. Production
1. 5.1. Production in Hong Kong
  1. 5.1.1. Annual dynamics of production in Hong Kong in kind, 2018-2023, t
  2. 5.1.2. Annual dynamics of production in Hong Kong in value, 2018-2023, $ US
2. 5.2. Global production by Country, 2018-2023
  1. 5.2.1. Annual dynamics of production by macroregions in kind, 2018-2023, t
  2. 5.2.2. Dynamics of production structure by macroregions in kind, 2018-2023
  3. 5.2.3. Annual dynamics of production by country in kind, 2018-2023, t
  4. 5.2.4. Structure of production by countries in kind, 2018-2023
  5. 5.2.5. Dynamics of peoduction structure by countries in kind, 2018-2023
6. Imports
1. 6.1. Imports (Direct Data)
  1. 6.1.1. Imports - Total information
  2. 6.1.2. Imports in kind, t
    1. 6.1.2.1. Annual dynamics of product's imports to Hong Kong in kind, 2018-2024, t
    2. 6.1.2.2. Dynamics of product's imports in kind to Hong Kong by countries, 2018-2024, t
    3. 6.1.2.3. Structure of product's imports in kind by countries, 2018-2024
  3. 6.1.3. Imports in value, K $ US
    1. 6.1.3.1. Annual dynamics of product's imports to Hong Kong in value, 2018-2024, K $ US
    2. 6.1.3.2. Dynamics of product's imports in value to Hong Kong by countries, 2018-2024, K $ US
    3. 6.1.3.3. Structure of product's imports in value by countries, 2018-2024
  4. 6.1.4. Average price of product's imports, $ US/t
    1. 6.1.4.1. Annual dynamics of average price of product's imports to Hong Kong, 2018-2024, $ US/t
    2. 6.1.4.2. Dynamics of average price of product's imports to Hong Kong by countries, 2018-2024, $ US/t
2. 6.2. Imports (Mirror Data)
  1. 6.2.1. Imports - Total information
  2. 6.2.2. Imports in kind, t
    1. 6.2.2.1. Annual dynamics of product's imports to Hong Kong in kind, 2018-2024, t
    2. 6.2.2.2. Dynamics of product's imports in kind to Hong Kong by countries, 2018-2024, t
    3. 6.2.2.3. Structure of product's imports in kind by countries, 2018-2024
  3. 6.2.3. Imports in value, K $ US
    1. 6.2.3.1. Annual dynamics of product's imports to Hong Kong in value, 2018-2024, K $ US
    2. 6.2.3.2. Dynamics of product's imports in value to Hong Kong by countries, 2018-2024, K $ US
    3. 6.2.3.3. Structure of product's imports in value by countries, 2018-2024
  4. 6.2.4. Average price of product's imports, $ US/t
    1. 6.2.4.1. Annual dynamics of average price of product's imports to Hong Kong, 2018-2024, $ US/t
    2. 6.2.4.2. Dynamics of average price of product's imports to Hong Kong by countries, 2018-2024, $ US/t
7. Exports
1. 7.1. Exports (Direct Data)
  1. 7.1.1. Exports - Total information
  2. 7.1.2. Exports in kind, t
    1. 7.1.2.1. Annual dynamics of product's exports from Hong Kong in kind, 2018-2024, t
    2. 7.1.2.2. Dynamics of product's exports in kind from Hong Kong by countries, 2018-2024, t
    3. 7.1.2.3. Structure of product's exports in kind by countries, 2018-2024
  3. 7.1.3. Exports in value, K $ US
    1. 7.1.3.1. Annual dynamics of product's exports from Hong Kong in value, 2018-2024, K $ US
    2. 7.1.3.2. Dynamics of product's exports in value from Hong Kong by countries, 2018-2024, K $ US
    3. 7.1.3.3. Structure of product's exports in value by countries, 2018-2024
  4. 7.1.4. Average price of product's exports, $ US/t
    1. 7.1.4.1. Annual dynamics of average price of product's exports from Hong Kong, 2018-2024, $ US/t
    2. 7.1.4.2. Dynamics of average price of product's exports from Hong Kong by countries, 2018-2024, $ US/t
2. 7.2. Exports (Mirror Data)
  1. 7.2.1. Exports - Total information
  2. 7.2.2. Exports in kind, t
    1. 7.2.2.1. Annual dynamics of product's exports from Hong Kong in kind, 2018-2024, t
    2. 7.2.2.2. Dynamics of product's exports in kind from Hong Kong by countries, 2018-2024, t
    3. 7.2.2.3. Structure of product's exports in kind by countries, 2018-2024
  3. 7.2.3. Exports in value, K $ US
    1. 7.2.3.1. Annual dynamics of product's exports from Hong Kong in value, 2018-2024, K $ US
    2. 7.2.3.2. Dynamics of product's exports in value from Hong Kong by countries, 2018-2024, K $ US
    3. 7.2.3.3. Structure of product's exports in value by countries, 2018-2024
  4. 7.2.4. Average price of product's exports, $ US/t
    1. 7.2.4.1. Annual dynamics of average price of product's exports from Hong Kong, 2018-2024, $ US/t
    2. 7.2.4.2. Dynamics of average price of product's exports from Hong Kong by countries, 2018-2024, $ US/t
8. Trade balance
1. 8.1. Trade balance (Direct Data)
  1. 8.1.1. In kind, t
  2. 8.1.2. In value, K $ US
2. 8.2. Trade balance (Mirror Data)
  1. 8.2.1. In kind, t
  2. 8.2.2. In value, K $ US
9. Top buying and selling countries, 2018-2024
1. 9.1. Direct Data
  1. 9.1.1. Import in Value by Countries-buyers
  2. 9.1.2. Export in Value by Countries-suppliers
2. 9.2. Mirror Data
  1. 9.2.1. Import in Value by Countries-buyers
  2. 9.2.2. Export in Value by Countries-suppliers

Production beef, sheep or goat fat in Hong Kong

In kind, 2017-2020, t

Top producers of beef, sheep or goat fat, 2017-2020

Source: SHEV.io

World map of production of beef, sheep or goat fat, 2017-2020

Source: SHEV.io

Hong Kong's production of beef, sheep, or goat fat declined for the third consecutive year. In 2020, the production volume reached 507.9 t, marking a slight reduction of 1.3% compared to 2019. Over the period from 2017 to 2020, production decreased by 2.8%, which translates to an annualized decline rate of 0.9%.

Annual dynamics of production in Hong Kong in kind, 2017-2020, t

Parameter		2018	2019	2020	CAGR
1	Change from last year	(0.9%)	(0.6%)	(1.3%)	(0.9%)

Source: SHEV.io

Exports beef, sheep or goat fat from Hong Kong

Market analysis indicates that there were no exports of beef, sheep, or goat fat from Hong Kong between 2017 and 2020.

Imports beef, sheep or goat fat to Hong Kong

Imports in kind, t

The data shows irregular fluctuations, reflecting a volatile market environment. Imports bottomed in 2019 at 5.0 t and peaked in 2020 at 174.9 t, representing a dramatic 35-fold increase. In 2020, imports surged by 3 417.7% year-over-year. The largest decline occurred in 2019, with an 82.7% drop.

Annual dynamics of product's imports to Hong Kong in kind, 2017-2020, t

Parameter		2018	2019	2020	CAGR
1	Change from last year	(61.6%)	(82.7%)	3 417.7%	32.6%

Source: SHEV.io

From 2017 to 2020, the main suppliers of beef, sheep, or goat fat to Hong Kong were Ireland, accounting for 44.0% of imports in kind, Brazil with 20.2%, and the United Kingdom at 18.4%. Together, these three countries made up 82.7% of total imports in kind.

Structure of product's imports in kind by countries, 2017-2020

Source: SHEV.io

World map of product's imports to Hong Kong in kind, 2017-2020

Source: SHEV.io

Imports in value, K $ US

The data reveals irregular changes, pointing to a volatile market environment. Imports reached their lowest point in 2019 at 6.2 K $ US and peaked in 2020 at 624.2 K $ US, showing a 101-fold swing. In 2020, import value skyrocketed by 9 954.2% compared to the previous year. The largest decline was recorded in 2019, with a 92.6% decrease.

Annual dynamics of product's imports to Hong Kong in value, 2017-2020, K $ US

Parameter		2018	2019	2020	CAGR
1	Change from last year	(55.1%)	(92.6%)	9 954.2%	49.6%

Source: SHEV.io

Between 2017 and 2020, three key markets—Ireland, Brazil, and the United Kingdom—collectively accounted for 80.7% of the total import value of beef, sheep, or goat fat into Hong Kong.

Structure of product's imports in value by countries, 2017-2020

Source: SHEV.io

World map of product's imports to Hong Kong in value, 2017-2020

Source: SHEV.io