Alcoholic Drinks Market in Hong Kong, China, 2024 - Leading Players to Maintain Positions, But Local Breweries Will Gain Popularity
Dublin, Aug. 02, 2024 (GLOBE NEWSWIRE) -- The "Alcoholic Drinks in Hong Kong, China" report has been added to ResearchAndMarkets.com's offering.
Alcoholic drinks in Hong Kong continued to record a positive performance in 2023 via both on-trade and off-trade channels, yet the expected pace of recovery lagged compared to the previous year's estimates, impacted by a sluggish local economy. Despite this challenge, sales continued to rise following the removal of travel restrictions and the number of events that Hong Kong hosted during the year, attracting inbound arrivals and local consumers alike.
The report offers a comprehensive guide to the size and shape of the market at a national level. It provides the latest retail sales data (2019-2023), allowing you to identify the sectors driving growth. It identifies the leading companies, the leading brands and offers strategic analysis of key factors influencing the market - be they legislative, distribution or pricing issues. Forecasts to 2028 illustrate how the market is set to change.
Product Coverage: Beer, Cider/Perry, RTDs, Spirits, Wine.
Key Topics Covered
EXECUTIVE SUMMARY
Alcoholic drinks in 2023: The big picture
2023 key trends
Competitive landscape
Retailing developments
On-trade vs off-trade split
What next for alcoholic drinks?
MARKET BACKGROUND
Legislation
Drink driving
Advertising
Smoking ban
Opening hours
On-trade establishments
Number of On-trade Establishments by Type 2017-2023
TAXATION AND DUTY LEVIES
Taxation and Duty Levies on Alcoholic Drinks 2023
OPERATING ENVIRONMENT
Contraband/parallel trade
Duty free
Cross-border/private imports
KEY NEW PRODUCT LAUNCHES
Outlook
MARKET INDICATORS
Retail Consumer Expenditure on Alcoholic Drinks 2018-2023
MARKET DATA
BEER IN HONG KONG, CHINA
KEY DATA FINDINGS
2023 DEVELOPMENTS
On-trade beer continues recovery as rising number of public events pushes up totals
Local consumers increasingly prefer craft beer due to familiarity of flavours
Health and wellness awareness and initiatives drive non alcoholic beer's growth
PROSPECTS AND OPPORTUNITIES
Positive outlook for beer as category continues to innovate and expand
Leading players to maintain positions, but local breweries will gain popularity
Health and wellness marks consumer shift towards non alcoholic beer
CATEGORY BACKGROUND
Lager price band methodology
Lager by Price Band 2023
Number of Breweries 2018-2023
CATEGORY DATA
WINE IN HONG KONG, CHINA
KEY DATA FINDINGS
2023 DEVELOPMENTS
Wine sales continue to rise, supported by Hong Kong's economic recovery
Further growth for sake as locals continue to enjoy Japanese products
PROSPECTS AND OPPORTUNITIES
Subscription services as effective introduction for newer wine drinkers
Shift from traditionally popular wines predicted as local drinkers look to expand their knowledge
Sustainability, health and wellness will contribute to overall growth of wine
CATEGORY DATA
SPIRITS IN HONG KONG, CHINA
KEY DATA FINDINGS
2023 DEVELOPMENTS
Improving sales of spirits as Hong Kong reopens to mainland tourists
Cocktails and returning tourists key factors influencing sales of spirits
Great penetration of non alcoholic spirits driven by health and wellness trend
PROSPECTS AND OPPORTUNITIES
Gradual economic recovery will bolster total volume sales
Sustainability will continue to be a major driver as consumer tastes further evolve
Domestic spirits to see increasing demand from both local consumers and tourists
CATEGORY BACKGROUND
Vodka, gin, other blended Scotch whisky, dark rum and white rum price band methodology
Benchmark Brands 2023
CATEGORY DATA
CIDER/PERRY IN HONG KONG, CHINA
KEY DATA FINDINGS
2023 DEVELOPMENTS
Modest growth for cider/perry despite slow economic recovery
Shifting consumer preferences for lower alcohol levels a boon for cider/perry sales
PROSPECTS AND OPPORTUNITIES
Cider/perry faces challenges as expanding selection of non/low alcohol gains further momentum in Hong Kong
Craft cider a potential way to differentiate category from other alcoholic drinks
CATEGORY DATA
RTDS IN HONG KONG, CHINA
KEY DATA FINDINGS
2023 DEVELOPMENTS
Strong resumption of events in Hong Kong helps drive growth of RTDs
Local/nostalgic flavours remain popular, while appeal of Japanese brands continues
Evolving consumer tastes push flavours towards more premium positioning
PROSPECTS AND OPPORTUNITIES
Evolving consumer tastes to drive future growth of RTDs in Hong Kong
Popularity of pre-mixed cocktails to support further demand
CATEGORY DATA
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