Hong Kong SAR, China - Wine - Market Analysis, Forecast, Size, Trends and Insights
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View PricingWine Imports Into Hong Kong Drop by 7% to Reach $948M in 2023
Hong Kong Wine Imports
In 2023, approx. 30M litres of wine were imported into Hong Kong; falling by -14.3% against 2022. Overall, imports saw a abrupt shrinkage. The pace of growth appeared the most rapid in 2015 with an increase of 21% against the previous year. As a result, imports reached the peak of 63M litres. From 2016 to 2023, the growth of imports remained at a somewhat lower figure.
In value terms, wine imports contracted to $948M (IndexBox estimates) in 2023. In general, imports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 41% against the previous year. Imports peaked at $1.6B in 2016; however, from 2017 to 2023, imports remained at a lower figure.
| COUNTRY | Import Value of Wine in Hong Kong (million USD) | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
| France | 367 | 343 | 363 | 390 | 439 | 499 | 452 | 453 | 586 | 368 | 382 |
| United Kingdom | 217 | 218 | 223 | 210 | 196 | 219 | 178 | 141 | 188 | 161 | 132 |
| Australia | 77.6 | 91.7 | 102 | 90.6 | 106 | 93.2 | 85.1 | 80.7 | 143 | 130 | 107 |
| Singapore | 42.3 | 43.3 | 45.1 | 55.0 | 53.4 | 52.4 | 42.5 | 52.7 | 125 | 75.0 | 75.6 |
| United States | 98.8 | 71.6 | 83.3 | 87.8 | 106 | 104 | 136 | 87.0 | 81.5 | 81.9 | 67.8 |
| Italy | 28.9 | 32.0 | 27.9 | 25.6 | 29.0 | 30.5 | 27.8 | 25.6 | 35.9 | 31.3 | 26.0 |
| China | 32.7 | 133 | 409 | 538 | 418 | 351 | 60.5 | 16.9 | 31.9 | 23.0 | 19.6 |
| Others | 170 | 157 | 138 | 155 | 186 | 190 | 142 | 111 | 172 | 150 | 138 |
| Total | 1,035 | 1,089 | 1,391 | 1,553 | 1,533 | 1,539 | 1,124 | 968 | 1,364 | 1,020 | 948 |
Imports by Country
Australia (8.1M litres), France (6.9M litres) and the United States (2.5M litres) were the main suppliers of wine imports to Hong Kong, with a combined 58% share of total imports. Italy, Singapore, the UK and China lagged somewhat behind, together comprising a further 20%.
From 2013 to 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Singapore (with a CAGR of +8.0%), while imports for the other leaders experienced mixed trend patterns.
In value terms, France ($382M) constituted the largest supplier of wine to Hong Kong, comprising 40% of total imports. The second position in the ranking was taken by the UK ($132M), with a 14% share of total imports. It was followed by Australia, with an 11% share.
From 2013 to 2023, the average annual growth rate of value from France was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (-4.8% per year) and Australia (+3.3% per year).
Imports by Type
In 2023, wine of fresh grapes (except sparkling wine) (28M litres) was the main type of wine supplied to Hong Kong, accounting for a 90% share of total imports. Moreover, wine of fresh grapes (except sparkling wine) exceeded the figures recorded for the second-largest type, sparkling wine (3.1M litres), ninefold.
From 2013 to 2023, the average annual rate of growth in terms of the volume of wine of fresh grapes (except sparkling wine) imports totaled -5.1%.
In value terms, wine of fresh grapes (except sparkling wine) ($885M) constituted the largest type of wine supplied to Hong Kong, comprising 91% of total imports. The second position in the ranking was taken by sparkling wine ($85M), with an 8.7% share of total imports.
Import Prices by Country
In 2023, the wine price amounted to $32 per litre (CIF, Hong Kong), picking up by 8.5% against the previous year. Overall, import price indicated tangible growth from 2013 to 2023: its price increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, wine import price decreased by -9.6% against 2021 indices. The most prominent rate of growth was recorded in 2021 when the average import price increased by 25% against the previous year. As a result, import price attained the peak level of $35 per litre. From 2022 to 2023, the average import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was the UK ($127 per litre), while the price for Chile ($6.1 per litre) was amongst the lowest.
From 2013 to 2023, the most notable rate of growth in terms of prices was attained by France (+8.8%), while the prices for the other major suppliers experienced more modest paces of growth.
This report provides an in-depth analysis of the wine market in Hong Kong SAR, China. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- FCL 564 - Wine
Country coverage:
- Hong Kong SAR
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Hong Kong SAR, China
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
