PROSPECTS AND OPPORTUNITIES
Shift from traditionally popular wines predicted as local drinkers look to expand their wine knowledge
Total volume sales of wine are expected to continue to rise in Hong Kong during the forecast period overall, although slowing rates of increase are expected. Although positive CAGRs are anticipated both on-trade and off-trade, a better off-trade performance is expected.
Hong Kong’s spirits tax reform will also benefit wine in the local market
In 2024, Hong Kong’s government slashed the rate of taxation for liquor that has an alcohol strength of more than 30% by volume from 100% to 10%. The spirits tax reform is projected to have a similar impact to the 2008 wine duty abolition, which ended up turning Hong Kong into one of Asia’s top wine auction and distribution centres, as the tax cuts attracted more international wine events and auctions, and improved and increased storage and logistics investments.
Experience-driven tourism will be a main growth driver
With the improved logistics storage infrastructure set to come about as a result of the spirits tax changes, consumers are expected to renew their interest in visiting wine and spirits fairs in Hong Kong. This is in line with a shift in tourism preferences, whereby many consumers now prioritise different experiences, rather than spending a large sum of money on expensive luxury goods.
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Overview:
Understand the latest market trends and future growth opportunities for the Wine 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.
If you're in the Wine 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 Wine 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 Wine in Hong Kong, China?
- Where is consumer demand for Wine 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?
Wine in Hong Kong, China - Category analysis
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
Alcoholic Drinks in Hong Kong, China - Industry Overview
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
The following categories and subcategories are included:
Wine
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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
Wine
This is the aggregation of still and sparkling light grape wines, fortified wine and vermouth and non-grape wine. In terms of alcohol content, light wine usually falls into the 8-14% ABV bracket while fortified wine ranges from 14-23% ABV. Low and non-alcoholic wine is also included in the data (attributed to each sector as appropriate).
See all of our definitionsWhy buy this report?
- Gain competitive intelligence about market leaders.
- Track key industry trends, opportunities and threats.
- Inform your marketing, brand, strategy and market development, sales and supply functions.
This report originates from Passport, our Wine research and analysis database.
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