Exclusive special offer and discount title banner vector image

HONG KONG WINE MARKET FORECAST 2023-2030

SCOPE OF THE REPORT

Hong Kong Wine Market by Product (Fortified Wine and Vermouth (Port, Sherry, Vermouth, Other Fortified Wine), Non-grape Wine (Apple Wine, Other Non-grape Wine), Sparkling Wine (Champagne, Other Sparkling Wine), Still Light Grape Wine (Still Red Wine, Still Rosé Wine, Still White Wine)) Market by Trade (Off-trade, on-trade) Market by Price Range (Sparkling Wine, Still Red Wine, Still Rosé Wine, Still White Wine)


MARKET OVERVIEW

The Hong Kong wine market was valued at $1234.10 million in 2022 and is expected to reach $2091.28 million by 2030, growing at a CAGR of 7.82% during the forecast period, 2023 to 2030. In terms of revenue, the Hong Kong wine market was valued at 29.10 million liters in 2022 and is expected to reach 37.77 million liters by 2030, growing at a CAGR of 3.31% during the forecast period, 2023 to 2030.

Wine is an alcoholic beverage produced via fermentation using fruits, cherries, rice, berries, pomegranate, grapes, etc. The terroir, grape types utilized, weather fluctuations, and winemaking methods are some of the variables that affect a wine variety’s distinctive qualities. Wine consumption has several positive health effects, as well, including increased bone density, decreased cholesterol, a decreased chance of heart disease, and others.

Hong Kong Wine Market

To Know More About This Report, Request a Free Sample Copy

Hong Kong does not produce any wine on its own, and as a result, imports are the main source of revenue for the region’s wine market. The most recent statistics from the Hong Kong government demonstrate that 38.5 million liters of wine were imported into the region in 2021. These imports had a value of almost $1.363 billion, which is similar to levels from before the global pandemic. According to demand during the same year, red wine, champagne, and white wine were the most popular categories. Furthermore, France emerges as the market leader when the origins of these imports are examined, with a share of 42.97% in terms of value. Australia, however, outpaces France in volume with a remarkable 9,700 cubic meters.

Growing consumer demand for environmentally friendly wine production is one of the main factors influencing the Hong Kong wine market. A growing number of local customers are expected to become more selective in their choice of alcoholic beverages, as wine in Hong Kong continues to mature. Moreover, an increasing number of local consumers are also projected to adopt the escalating sustainability trend as a method to set themselves apart from other drinkers, despite many still choosing large brands that are pricey or premium. Major wine brands and wineries are also beginning to use more sustainable production practices owing to the cognizance of this development. For instance, Ruinart: Second Skin, a recent product by Mot Hennessy Diageo, features 100% recyclable packaging.

Despite the tremendous growth of the Hong Kong wine market, a number of issues still exist, including a lack of administrative and technological expertise and high costs, which impede its ability to grow locally. Additionally, competition from foreign wine producers has also compelled the domestic wine sector to adapt, which is further anticipated to restrain the market’s expansion. 

Inkwood Research’s report on the Hong Kong wine market provides in-depth insights and a segmentation analysis of the market. The detailed assessment of the market includes PEST analysis, competitive landscape, key buying criteria, market share analysis, brand share analysis, and value chain analysis. Moreover, the segmentation analysis of the market includes product, trade, and price range.

Key players in the Hong Kong wine market are Delegat Group Ltd, E & J Gallo Winery, Treasury Wine Estates Ltd, Moet Hennessy, etc.

REPORT SYNOPSIS

REPORT SCOPEDETAILS
Market Forecast Years2023-2030
Base Year2022
Market Historical Years2018-2022
Forecast UnitsRevenue ($ Million), Volume (Million Liters)
Segments Analyzed
Product, Trade, Price Range
Countries AnalyzedHong Kong
Companies AnalyzedDelegat Group Ltd, E & J Gallo Winery, Treasury Wine Estates Ltd, Moet Hennessy, Pernod Ricard Groupe

TABLE OF CONTENT

  1. RESEARCH SCOPE & METHODOLOGY
    1. STUDY OBJECTIVES
    2. METHODOLOGY
    3. ASSUMPTIONS & LIMITATIONS
  2. EXECUTIVE SUMMARY
    1. MARKET SIZE & ESTIMATES
    2. COUNTRY SNAPSHOT
    3. COUNTRY ANALYSIS
    4. SCOPE OF STUDY
    5. CRISIS SCENARIO ANALYSIS
      1. IMPACT OF COVID-19 ON WINE MARKET
  3. MARKET DYNAMICS
    1. KEY GROWTH ENABLERS
      1. RISE IN LOCAL WINE CONSUMPTION 
      2. SIGNIFICANT SALE & DISTRIBUTION AND RE-EXPORT OF WINE
      3. DEMAND FOR SUSTAINABLE WINE 
    2. KEY CHALLENGES
      1. GOVERNMENT REGULATIONS 
      2. STRONG COMPETITION FROM OTHER ALCHOLIC BEVERAGES
  4. KEY ANALYTICS
    1. KEY MARKET TRENDS
    2. PEST ANALYSIS
    3. PORTER’S FIVE FORCES ANALYSIS
      1. BUYERS POWER
      2. SUPPLIERS POWER
      3. SUBSTITUTION
      4. NEW ENTRANTS
      5. INDUSTRY RIVALRY
    4. OPPORTUNITY MATRIX
    5. VALUE CHAIN ANALYSIS
    6. KEY BUYING CRITERIA
    7. MARKET SHARE ANALYSIS, IN 2021 & 2022 (IN %)
    8. BRAND SHARE ANALYSIS, IN 2021 & 2022 (IN %)
  5. MARKET BY PRODUCT (IN TERMS OF REVENUE: $ MILLION & IN TERMS OF VOLUME: MILLION LITERS)
    1. FORTIFIED WINE AND VERMOUTH
      1. PORT
      2. SHERRY
      3. VERMOUTH
      4. OTHER FORTIFIED WINE
    2. NON-GRAPE WINE
      1. APPLE WINE
      2. OTHER NON-GRAPE WINE
    3. SPARKLING WINE
      1. CHAMPAGNE
      2. OTHER SPARKLING WINE
    4. STILL LIGHT GRAPE WINE
      1. STILL RED WINE
      2. STILL ROSÉ WINE
      3. STILL WHITE WINE
  6. MARKET BY TRADE (IN TERMS OF REVENUE: $ MILLION & IN TERMS OF VOLUME: MILLION LITERS)
    1. OFF-TRADE
    2. ON-TRADE
  7. MARKET BY PRICE RANGE – SPARKLING WINE
  8. MARKET BY PRICE RANGE – STILL RED WINE
  9. MARKET BY PRICE RANGE – STILL ROSÉ WINE
  10. MARKET BY PRICE RANGE – STILL WHITE WINE
  11. COMPETITIVE LANDSCAPE
    1. KEY STRATEGIC DEVELOPMENTS
      1. ACQUISITIONS
      2. PRODUCT LAUNCHES & DEVELOPMENTS
      3. PARTNERSHIPS
      4. BUSINESS EXPANSIONS
    2. COMPANY PROFILES
      1. TREASURY WINE ESTATES LTD
      2. DELEGAT GROUP LTD
      3. E & J GALLO WINERY
      4. MOET HENNESSY 
      5. PERNOD RICARD GROUPE

LIST OF TABLES

TABLE 1: HONG KONG – COUNTRY SNAPSHOT

TABLE 2: HONG KONG WINE MARKET, BY PRODUCT, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 3: HONG KONG WINE MARKET, BY PRODUCT, FORECAST YEARS, 2023-2030 (IN $ MILLION)

TABLE 4: HONG KONG WINE MARKET, BY PRODUCT, HISTORICAL YEARS, 2018-2022 (MILLION LITERS)

TABLE 5: HONG KONG WINE MARKET, BY PRODUCT, FORECAST YEARS, 2023-2030 (MILLION LITERS)

TABLE 6: HONG KONG WINE MARKET, BY FORTIFIED WINE AND VERMOUTH, HISTORICAL YEARS, 2018-2022 (MILLION LITERS)

TABLE 7: HONG KONG WINE MARKET, BY FORTIFIED WINE AND VERMOUTH, FORECAST YEARS, 2023-2030 (MILLION LITERS)

TABLE 8: HONG KONG WINE MARKET, BY FORTIFIED WINE AND VERMOUTH, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 9: HONG KONG WINE MARKET, BY FORTIFIED WINE AND VERMOUTH, FORECAST YEARS, 2023-2030 (IN $ MILLION)

TABLE 10: HONG KONG WINE MARKET, BY NON-GRAPE WINE, HISTORICAL YEARS, 2018-2022 (MILLION LITERS)

TABLE 11: HONG KONG WINE MARKET, BY NON-GRAPE WINE, FORECAST YEARS, 2023-2030 (MILLION LITERS)

TABLE 12: HONG KONG WINE MARKET, BY NON-GRAPE WINE, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 13: HONG KONG WINE MARKET, BY NON-GRAPE WINE, FORECAST YEARS, 2023-2030 (IN $ MILLION)

TABLE 14: HONG KONG WINE MARKET, BY SPARKLING WINE, HISTORICAL YEARS, 2018-2022 (MILLION LITERS)

TABLE 15: HONG KONG WINE MARKET, BY SPARKLING WINE, FORECAST YEARS, 2023-2030 (MILLION LITERS)

TABLE 16: HONG KONG WINE MARKET, BY SPARKLING WINE, HISTORICAL YEARS 2018-2022 (IN $ MILLION)

TABLE 17: HONG KONG WINE MARKET, BY SPARKLING WINE, FORECAST YEARS 2023-2030 (IN $ MILLION)

TABLE 18: HONG KONG WINE MARKET, BY STILL LIGHT GRAPE WINE, HISTORICAL YEARS, 2018-2022 (MILLION LITERS)

TABLE 19: HONG KONG WINE MARKET, BY STILL LIGHT GRAPE WINE, FORECAST YEARS, 2023-2030 (MILLION LITERS)

TABLE 20: HONG KONG WINE MARKET, BY STILL LIGHT GRAPE WINE, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 21: HONG KONG WINE MARKET, BY STILL LIGHT GRAPE WINE, FORECAST YEARS, 2023-2030 (IN $ MILLION)

TABLE 22: HONG KONG WINE MARKET, BY TRADE, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 23: HONG KONG WINE MARKET, BY TRADE, FORECAST YEARS, 2023-2030 (IN $ MILLION)

TABLE 24: HONG KONG WINE MARKET, BY TRADE, HISTORICAL YEARS, 2018-2022 (IN MILLION LITERS)

TABLE 25: HONG KONG WINE MARKET, BY TRADE, FORECAST YEARS, 2023-2030 (IN MILLION LITERS)

TABLE 26: HONG KONG WINE MARKET, BY PRICE RANGE – SPARKLING WINE, HISTORICAL YEARS, 2018-2022 (IN %)

TABLE 27: HONG KONG WINE MARKET, BY PRICE RANGE – SPARKLING WINE, FORECAST YEARS, 2023-2030 (IN %)

TABLE 28: HONG KONG WINE MARKET, BY PRICE RANGE – STILL RED WINE, HISTORICAL YEARS, 2018-2022 (IN %)

TABLE 29: HONG KONG WINE MARKET, BY PRICE RANGE – STILL RED WINE, FORECAST YEARS, 2023-2030 (IN %)

TABLE 30: HONG KONG WINE MARKET, BY PRICE RANGE – STILL ROSÉ WINE, HISTORICAL YEARS, 2018-2022 (IN %)

TABLE 31: HONG KONG WINE MARKET, BY PRICE RANGE – STILL ROSÉ WINE, FORECAST YEARS, 2023-2030 (IN %)

TABLE 32: HONG KONG WINE MARKET, BY PRICE RANGE – STILL WHITE WINE, HISTORICAL YEARS, 2018-2022 (IN %)

TABLE 33: HONG KONG WINE MARKET, BY PRICE RANGE – STILL WHITE WINE, FORECAST YEARS, 2023-2030 (IN %)

TABLE 34: LIST OF ACQUISITIONS

TABLE 35: LIST OF PRODUCT LAUNCHES & DEVELOPMENTS

TABLE 36: LIST OF PARTNERSHIPS 

TABLE 37: LIST OF BUSINESS EXPANSIONS

LIST OF FIGURES 

FIGURE 1: KEY MARKET TRENDS

FIGURE 2: PORTER’S FIVE FORCES ANALYSIS

FIGURE 3: OPPORTUNITY MATRIX

FIGURE 4: VALUE CHAIN ANALYSIS

FIGURE 5: KEY BUYING CRITERIA

FIGURE 6: MARKET SHARE OF STILL LIGHT GRAPE WINE, IN 2021 & 2022 (IN %)

FIGURE 7: MARKET SHARE OF FORTIFIED WINE AND VERMOUTH, IN 2021 & 2022 (IN %)

FIGURE 8: MARKET SHARE OF NON-GRAPE WINE, IN 2021 & 2022 (IN %)

FIGURE 9: MARKET SHARE OF CHAMPAGNE, IN 2021 & 2022 (IN %)

FIGURE 10: BRAND SHARE OF STILL LIGHT GRAPE WINE, IN 2021 & 2022 (IN %)

FIGURE 11: BRAND SHARE OF CHAMPAGNE, IN 2021 & 2022 (IN %)

FIGURE 12: BRAND SHARE OF FORTIFIED WINE AND VERMOUTH, IN 2021 & 2022 (IN %)

FIGURE 13: BRAND SHARE OF NON-GRAPE WINE, IN 2021 & 2022 (IN %)

FIGURE 14: HONG KONG WINE MARKET, GROWTH POTENTIAL, BY PRODUCT, IN 2022

FIGURE 15: HONG KONG WINE MARKET, BY FORTIFIED WINE AND VERMOUTH, 2023-2030 (IN $ MILLION)

FIGURE 16: HONG KONG WINE MARKET, GROWTH POTENTIAL, BY FORTIFIED WINE AND VERMOUTH, IN 2022

FIGURE 17: HONG KONG WINE MARKET, BY PORT, 2023-2030 (IN $ MILLION)

FIGURE 18: HONG KONG WINE MARKET, BY SHERRY, 2023-2030 (IN $ MILLION)

FIGURE 19: HONG KONG WINE MARKET, BY VERMOUTH, 2023-2030 (IN $ MILLION)

FIGURE 20: HONG KONG WINE MARKET, BY OTHER FORTIFIED WINE, 2023-2030 (IN $ MILLION)

FIGURE 21: HONG KONG WINE MARKET, BY NON-GRAPE WINE, 2023-2030 (IN $ MILLION)

FIGURE 22: HONG KONG WINE MARKET, GROWTH POTENTIAL, BY NON-GRAPE WINE, IN 2022

FIGURE 23: HONG KONG WINE MARKET, BY APPLE WINE, 2023-2030 (IN $ MILLION)

FIGURE 24: HONG KONG WINE MARKET, BY OTHER NON-GRAPE WINE, 2023-2030 (IN $ MILLION)

FIGURE 25: HONG KONG WINE MARKET, BY SPARKLING WINE, 2023-2030 (IN $ MILLION)

FIGURE 26: HONG KONG WINE MARKET, GROWTH POTENTIAL, BY SPARKLING WINE, IN 2022

FIGURE 27: HONG KONG WINE MARKET, BY CHAMPAGNE, 2023-2030 (IN $ MILLION)

FIGURE 28: HONG KONG WINE MARKET, BY OTHER SPARKLING WINE, 2023-2030 (IN $ MILLION)

FIGURE 29: HONG KONG WINE MARKET, BY STILL LIGHT GRAPE WINE, 2023-2030 (IN $ MILLION)

FIGURE 30: HONG KONG WINE MARKET, GROWTH POTENTIAL, BY STILL LIGHT GRAPE WINE, IN 2022

FIGURE 31: HONG KONG WINE MARKET, BY STILL RED WINE, 2023-2030 (IN $ MILLION)

FIGURE 32: HONG KONG WINE MARKET, BY STILL ROSÉ WINE, 2023-2030 (IN $ MILLION)

FIGURE 33: HONG KONG WINE MARKET, BY STILL WHITE WINE, 2023-2030 (IN $ MILLION)

FIGURE 34: HONG KONG WINE MARKET, GROWTH POTENTIAL, BY TRADE, IN 2022

FIGURE 35: HONG KONG WINE MARKET, BY OFF-TRADE, 2023-2030 (IN $ MILLION)

FIGURE 36: HONG KONG WINE MARKET, BY ON-TRADE, 2023-2030 (IN $ MILLION)

FAQ’s