Alcoholic drinks in 2024: The big picture
Total volume sales of alcoholic drinks saw a solid increase in Hong Kong in 2024, with sales rising across all categories. Growth was seen in both off-trade and on-trade volume terms. Off-trade sales remained dominant, with many consumers preferring to shop offline for alcoholic drinks due to cost considerations and the preference for home drinking amongst many consumers, which has endured even post-pandemic. Meanwhile, on-trade sales saw a stronger increase from a lower base, with the continued return of tourists contributing to growth. In addition, different events drove sales, for instance the 2024 WaterBomb festival targeted the younger beer-drinking population of legal drinking age with local craft beers that were sold at comparatively cheaper prices than the usual market rate.
2024 key trends
Beer remained the largest alcoholic drinks category in total volume terms in Hong Kong in 2024, and maintained a solid increase, which given its maturity was impressive. This was fuelled by the gradual recovery of the economy, and increasing demand for craft beer. However, it was spirits which saw the most dynamic growth rate, from an already significant base. This was because in 2024 the Hong Kong government slashed the rate of taxation for liquor that has an alcohol strength of more than 30% by volume from 100% to 10% for spirits priced at more than HKD200. With reductions in prices, the consumer mindset shifted towards immediate consumption of higher-end spirits, rather than purchasing only for collection or speculation.
Competitive landscape
Carlsberg Brewery Hong Kong Ltd was the leading company within alcoholic drinks overall in 2024, accounting for nearly a quarter of sales, although it saw a share reduction compared with the previous year. Nevertheless, the company led beer, cider/perry, and RTDs, with brands including Carlsberg, Skol and Asahi Super Dry in beer, Somersby in cider/perry, and Smirnoff Ice in RTDs.
Retail developments
Supermarkets remained the leading off-trade distribution channel within alcoholic drinks overall in volume terms in 2024, accounting for a stable share of approaching half of sales, while convenience stores also accounted for a significant share of sales. These channels appeal for convenience reasons, as many consumers like the immediacy of purchasing, and the ability to pick up alcoholic drinks along with their other shopping as they need them. Meanwhile, retail e-commerce also accounted for a double-digit share and continued to see volume sales growth in 2024, as local consumers value its accessibility and the wide range of products available. This, combined with frequent promotions, meant that more consumers chose to utilise this channel as a way of purchasing alcoholic drinks. The dual distribution channels of supermarkets, with a vast network of offline stores and e-commerce platforms, captures the widest possible audience, and means that consumers are able to shop in the way that suits them best.
On-trade vs off-trade split
The off-trade channel continued to dominate alcoholic drinks in 2024, accounting for two-thirds of sales. However, on-trade sales saw stronger growth than off-trade, as local bars and clubs have been seeing slow recovery post-pandemic due to the return of both locals and tourists. The share of the on-trade channel within total volume sales therefore rose by one percentage point in 2024 from the previous year. However, this share was still notably lower than that seen pre-pandemic (2019), and is not expected to return to this level even in the forecast period. A number of on-trade outlets which closed down during the pandemic have not reopened, and some have moved to smaller locations where the rent is more affordable. Meanwhile, the habits of some local consumers have been changed permanently by the pandemic restrictions, and they still prefer to drink at home more often, even though the pandemic is over. In addition, tourists are often spending less on goods and services compared with the pre-COVID-19 period, as well as electing to do day trips rather than spend several nights in Hong Kong.
What next for alcoholic drinks?
Total volume sales of alcoholic drinks are set to increase in 2025, and see a low positive CAGR over the forecast period, with increases both on-trade and off-trade. Most categories are expected to see total volume growth, although cider/perry is set to see little movement in volume sales. This category is expected to face challenges in the coming years due to the rise of other no/low alcoholic beverages, with no/low alcoholic beer and RTDs in particular being direct competitors for shelf space, placing them as a direct competitor for cider/perry.
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Overview:
Understand the latest market trends and future growth opportunities for the Alcoholic Drinks industry in Hong Kong, China with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
Data and analysis in this report provides further detailed coverage dedicated to the following key categories, where applicable:
- Beer
- Wine
- Spirits
- Cider and Perry
- RTDs
If you're in the Alcoholic Drinks industry in Hong Kong, China, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty
The Alcoholic Drinks in Hong Kong, China report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Alcoholic Drinks in Hong Kong, China?
- Where is consumer demand for Alcoholic Drinks focussed?
- Which is being consumed more; beer, wine or spirits?
- Where is demand growing? Stagnating?
- How is the operating environment for alcoholic drinks changing?
- Which are the leading brands in Hong Kong, China?
- How are products distributed in Hong Kong, China?
- What are the key trends in new product development?
- Do consumers want value for money or added value?
- How will macroeconomic context and shifting cultural values shape future growth?
- How will COVID-19 and recession impact the alcoholic drinks industry?
- Where is future growth expected to be most dynamic?
Alcoholic Drinks in Hong Kong, China
Alcoholic drinks in 2024: The big picture
2024 key trends
Competitive landscape
Retail developments
On-trade vs off-trade split
What next for alcoholic drinks?
Legislation
Legal purchasing age and legal drinking age
Drink-driving
Advertising
Smoking ban
Opening hours
On-trade establishments
TAXATION AND DUTY LEVIES
Contraband/parallel trade
Duty free
Cross-border/private imports
Outlook
DISCLAIMER
Beer in Hong Kong, China
KEY DATA FINDINGS
Craft beer continues to grow as consumers value the taste, ingredients, and subscriptions
Traditional beer brands continue to dominate due to price and wide availability
Supermarkets continues to lead off-trade distribution, while the on-trade share rises
Shifting consumer tastes and emphasis on health will continue to drive growth for non/low alcohol beer
AI to make inroads in all aspects of beer
Leading players to maintain to their positions, although craft breweries will become more popular as consumers seek new experiences
Lager price band methodology
Cider/Perry in Hong Kong, China
KEY DATA FINDINGS
Shifts towards lighter drinks and health-focused lifestyles drive growth for cider/perry
Somersby and Strongbow maintain their leading brand positions
Cider/perry sees its highest sales via supermarkets, with the on-trade accounting for a low share of sales
Cider/perry faces a challenge from no/low alcohol products
Regional integration a potential growth driver for local craft cider in Hong Kong
Gen AI to streamline the marketing and production of cider/perry
Rtds in Hong Kong, China
KEY DATA FINDINGS
Premiumisation a key factor for consumers as craft RTDs are perceived as good value for money
Established players maintain their leading positions, but craft players rise
Improved distribution infrastructure helps drive growth for retail e-commerce
Demand set to rise as product offerings increase and local consumer tastes shift
Potential category-blurring RTDs will be a demand driver
Gen AI set to change the way brands produce and market RTDs
Spirits in Hong Kong, China
KEY DATA FINDINGS
Spirits tax reform drives growth as consumer mindset shifts towards immediate consumption rather than collection or speculation
Leading players maintain their positions, although craft distilleries are slowly becoming more popular
Supermarkets maintains its dominance; the on-trade share remains lower than in the past
Sustainability set to remain a strong driver of growth
Spirits tax reform and economic recovery will be drivers of future growth
Locally produced spirits set to increase in demand among both local consumers and tourists
Vodka, gin, other blended Scotch whisky, dark rum and white rum price band methodology
Wine in Hong Kong, China
KEY DATA FINDINGS
Local consumers seek premium products, but place value at the forefront
Sake remains in the spotlight
Increased wine consumption overall due to events, improved offline distribution
Shift from traditionally popular wines predicted as local drinkers look to expand their wine knowledge
Hong Kong’s spirits tax reform will also benefit wine in the local market
Experience-driven tourism will be a main growth driver
The following categories and subcategories are included:
Alcoholic Drinks
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- Ale
- Sorghum
- Weissbier/Weizen/Wheat Beer
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- Flavoured/Mixed Lager
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- Domestic Premium Lager
- Imported Premium Lager
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- Domestic Mid-Priced Lager
- Imported Mid-Priced Lager
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- Domestic Economy Lager
- Imported Economy Lager
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- Domestic Premium Lager
- Domestic Mid-Priced Lager
- Domestic Economy Lager
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- Imported Premium Lager
- Imported Mid-Priced Lager
- Imported Economy Lager
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- Low Alcohol Beer
- Non Alcoholic Beer
- Stout
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- Regular Cider/Perry
- Non Alcoholic Cider/Perry
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- Malt-based RTDs
- Spirit-based RTDs
- Wine-based RTDs
- Other RTDs
- Non Alcoholic RTDs
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- Brandy
- Cognac
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- Bitters
- Cream-based Liqueurs
- Other Liqueurs
- Non Alcoholic Spirits
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- Prestige Dark Rum
- Ultra Premium Dark Rum
- Super Premium Dark Rum
- Premium Dark Rum
- Standard Dark Rum
- Economy Dark Rum
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- Prestige White Rum
- Ultra Premium White Rum
- Super Premium White Rum
- Premium White Rum
- Standard White Rum
- Economy White Rum
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- Tequila (and Mezcal)
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- Bourbon/Other US Whiskey
- Canadian Whisky
- Irish Whiskey
- Japanese Whisky
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- Blended Malt Scotch Whisky
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- Prestige Other Blended Scotch Whisky
- Ultra Premium Other Blended Scotch Whisky
- Super Premium Other Blended Scotch Whisky
- Premium Other Blended Scotch Whisky
- Standard Other Blended Scotch Whisky
- Economy Other Blended Scotch Whisky
- Single Grain Scotch Whisky
- Single Malt Scotch Whisky
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- Other Whiskies
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- Prestige English Gin
- Ultra Premium English Gin
- Super Premium English Gin
- Premium English Gin
- Standard English Gin
- Economy English Gin
- Dutch Gin
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- Prestige Vodka
- Ultra Premium Vodka
- Super Premium Vodka
- Premium Vodka
- Standard Vodka
- Economy Vodka
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- Absinthe
- Ad-Mix Brandy
- Ad-Mix Gin
- Ad-Mix Rum
- Ad-Mix Vodka
- Ad-Mix Whisky
- Aguardente/Aguardiente
- Aguardiente De Caña
- Akvavit/Aquavit
- Aniseed-Flavoured Spirits
- Borovicka
- Boukha
- Brandy Type Distilled Spirits
- Cachaça
- Calvados
- Cane
- Chacha
- Charanda
- Chinese Herbal Spirits
- Chinese Spirits
- Cut Brandy
- Destilados De Agave
- Distilled Fruit Spirits
- Domestic Brandy
- Domestic Rum
- Doppelkorn
- Economy Chinese Spirits
- Flavoured Spirits
- Flavoured Vodka-based Drinks
- Fynbos gin/Local Gin
- Gin-flavoured spirits
- Goldbrand/Goldkrone
- Grappa
- Grappamiel
- Guaro
- Kirsch
- Komovica
- Korn
- Lambanog
- Limoncello
- Local White Spirits
- Lower Mid-Range Chinese Spirits
- Lozovaca
- Maesilju
- Mahia Rabi Amrane
- Mead
- Mixed Spirits
- Nalivka/Nalewka
- Nastoyka
- National Specialities
- Obstbrände
- Ouzo
- Pacharán
- Palinca/Pálinka
- Pear and Apple Distillates
- Pisco
- Premium Chinese Spirits
- Prune
- Punsch
- Rachiu/Rakija
- Rum-Flavoured Spirits
- Samane
- Sambuca
- Samsu
- Schnapps
- Shochu/Soju
- Singani
- Sljivovica/Slivovice
- Steinhäeger
- Strong African Spirits
- Super Premium Chinese Spirits
- Sura Khao
- Tequila Flavoured Spirits
- Travarica
- Tsipouro
- Upper Mid-Range Chinese Spirits
- Vieux
- Viina
- Vodka Type Distilled Spirits
- Other Distilled Beverages
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- Port
- Sherry
- Vermouth
- Other Fortified Wine
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- Apple Wine
- Bokbunjaju
- Cheongju
- Chinese Wine
- Economy Rice Wine
- Fortified Fruit Wine
- Fruit and Berry Wine
- Fruit and Herbal Wine
- Fruit and Honey based Wine
- Fruit Wine
- Lower Mid-Range Rice Wine
- Non-Grape Dessert Wine
- Premium Rice Wine
- Sake
- Takju
- Upper Mid-Range Rice Wine
- Yakju
- Yellow Wine
- Other Non-Grape Wine
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- Champagne
- Other Sparkling Wine
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- Still Red Wine
- Still Rosé Wine
- Still White Wine
- Non Alcoholic Wine
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Alcoholic Drinks
Alcoholic drinks is the aggregation of beer, wine, spirits, cider/perry and RTDs.
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This report originates from Passport, our Alcoholic Drinks research and analysis database.
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