Hong Kong’s Liquor Market
Although Hong Kong is a small city, it has a vibrant market for imported spirits. Spirits exporters from all over the world can benefit from its affluent population and increased openness to alcoholic beverages. Hong Kong imported $568 million worth of booze in 2017.
France continues to be the leading liquor exporter to Hong Kong, with a 44 percent market share. In 2017, the European country’s imports totaled $250 million. Hong Kong imports a large amount of spirits from China and the United Kingdom. Their exports totaled 189 million dollars and 93 million dollars, respectively.
Meanwhile, brandy is the most expensive liquor to import, accounting for almost 44% of all liquor imports. In Hong Kong’s liquor market, whisky and liqueurs are also popular.
Meanwhile, brandy is the most expensive liquor to import, accounting for almost 44% of all liquor imports. In Hong Kong’s liquor market, whisky and liqueurs are also popular.
Top Liquor Exporters to Hong Kong
For Brandy
Brandy continues to generate the majority of liquor sales in Hong Kong. In 2017, imports totaled 2.5 million liters. French brandy has traditionally dominated the market, occupying 98% of the total brandy imports. Since 2014, however, the popularity of brandy among Hong Kong consumers has been declining at the expense of wine and other liquors.
Cognac, associated with premium and quality by consumers, is well received in the market. Popular brands in Hong Kong include Remy Martin, Hennessy and Martell. Aside from France, other top exporters of brandy to Hong Kong are Vietnam, Malaysia, Japan and Singapore.
For Whisky
Whisky is the third-largest category in Hong Kong’s liquor market, accounting for over 14% of all imported liquor in terms of value. While Scotch remains the most popular, other whiskies have made inroads into Hong Kong’s market in recent years.
The United Kingdom continues to be the top whisky exporter to Hong Kong, with a market share of 79 percent. The United States, South Korea, France, and Australia are among the other providers. Japanese whiskies, on the other hand, have been increasingly popular in Hong Kong in recent years. Consumers are smitten by its reasonably sweet taste and appealing packaging, which makes it an excellent gifting item.
For Liqueurs
Liquor sales have increased as a result of Hong Kong’s flourishing cocktail scene. Cocktail components such as gin and liqueurs are in high demand as consumers are willing to pay more on more expensive beverages. Hong Kong imported $40 million worth of liqueurs in 2017. The value of imports grew by 33%.
The United Kingdom is Hong Kong’s top liqueur supplier, accounting for 72 percent of the market. In 2017, exports from the United Kingdom were US$29 million, up 60 percent from 2016. Liqueurs from South Africa, France, Ireland, and the United States are also imported into Hong Kong.
For Rum, Gin and Vodka
Although vodka, gin, and rum account for less than 1% of Hong Kong’s liquor market, consumer demand has been increasing. The United States is the leading rum supplier, followed by the United Kingdom, Germany, Spain, and Puerto Rico.
Gin, on the other hand, is a growing segment in the Hong Kong spirits market. In 2018, a slew of new premium gin products flooded the market, buoyed by increased demand. With 76 percent of the market, the United Kingdom is the leading gin exporter to Hong Kong. Germany, Italy, Spain, and the United States are also gin producers.
Sweden and France are Hong Kong’s two largest suppliers of vodka. In this area, Ireland, the United Kingdom, and Finland are all prominent players.
Final Thoughts
Consumers in Hong Kong can buy even the most costly bottles of imported liquor, making it a refuge for them. It’s no surprise that it’s a popular destination for top liquor exporters from throughout the world. Future expansion in the Hong Kong liquor sector will be driven by rising demand.
