Hong Kong Landscapes 2019 explores the stability of the Hong Kong wine market and how semi-annual wine drinkers are becoming increasingly more engaged with the wine category
It has been just over a decade since the wine tax was abolished in Hong Kong, and it is now Asia’s wine trading hub, with large proportions of wine imported to Hong Kong and then re-exported to other Asian markets. In this system, China remains the largest re-export destination for wine from Hong Kong, taking more than three quarters of wine imported. However, in recent years, exports into China have declined significantly, with trade experts accrediting this to China gaining direct trade connections with wine-producing regions. Perhaps because of this, the consensus amongst those in the supply chain is that Hong Kong’s position as the Asian redistribution centre has reached a plateau after many years of substantial growth.
Consumers in the Hong Kong wine market are becoming more engaged with wine, with a significant growth in the proportion of those who consider wine to be important to their lifestyles.
Additionally, consumers are becoming more knowledgeable and confident in their understanding of wine. Red wine very much continues to dominate the wine market in Hong Kong, with the overwhelming majority of consumers claiming to have consumed the beverage over the past year, driven primarily by older wine drinkers in the category. It appears that there is some potential growth for white wine and rosé as they are no longer considered to be just a summer wine. Sparkling wine is also gaining momentum, particularly for French Champagne, with over half of Hong Kong wine drinkers claiming to have drunk it in the past year.
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