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
For more information about this report visit https://www.researchandmarkets.com/r/62des9
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