Hong Kong SAR, China: Spirits And Liqueurs Market 2024

Spirits And Liqueurs Market Size in Hong Kong SAR, China

In 2022, the Hong Kong spirits and liqueurs market increased by X% to $X, rising for the second year in a row after two years of decline. In general, consumption, however, posted a strong expansion. Spirits and liqueurs consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Spirits And Liqueurs Production in Hong Kong SAR, China

In value terms, spirits and liqueurs production contracted to $X in 2022 estimated in export price. In general, production, however, showed a prominent expansion. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. Spirits and liqueurs production peaked at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

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Spirits And Liqueurs Exports

Exports from Hong Kong SAR, China

Spirits and liqueurs exports from Hong Kong SAR reduced dramatically to X litres in 2022, with a decrease of X% compared with the year before. In general, exports continue to indicate a deep reduction. The most prominent rate of growth was recorded in 2021 when exports increased by X%. The exports peaked at X litres in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, spirits and liqueurs exports contracted to $X in 2022. Overall, exports recorded a perceptible descent. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

China (X litres), Macao SAR (X litres) and Mongolia (X litres) were the main destinations of spirits and liqueurs exports from Hong Kong SAR, together accounting for X% of total exports. Singapore, Russia, Indonesia, Vietnam and Malaysia lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Russia (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for spirits and liqueurs exported from Hong Kong SAR were China ($X), Macao SAR ($X) and Singapore ($X), with a combined X% share of total exports. Vietnam, Russia, Indonesia, Mongolia and Malaysia lagged somewhat behind, together comprising a further X%.

Russia, with a CAGR of X%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average spirits and liqueurs export price stood at $X per litre in 2022, rising by X% against the previous year. Overall, export price indicated a prominent increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, spirits and liqueurs export price increased by X% against 2014 indices. The most prominent rate of growth was recorded in 2014 an increase of X% against the previous year. Over the period under review, the average export prices reached the peak figure in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Vietnam ($X per litre), while the average price for exports to Mongolia ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Spirits And Liqueurs Imports

Imports into Hong Kong SAR, China

In 2022, purchases abroad of spirits, liqueurs and other spirituous beverages increased by X% to X litres, rising for the second year in a row after two years of decline. Over the period under review, imports, however, continue to indicate a noticeable contraction. The pace of growth was the most pronounced in 2018 when imports increased by X%. Imports peaked at X litres in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, spirits and liqueurs imports stood at $X in 2022. Overall, imports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2018 with an increase of X%. As a result, imports reached the peak of $X. From 2019 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, China (X litres) constituted the largest spirits and liqueurs supplier to Hong Kong SAR, accounting for a X% share of total imports. Moreover, spirits and liqueurs imports from China exceeded the figures recorded by the second-largest supplier, Thailand (X litres), threefold. The UK (X litres) ranked third in terms of total imports with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (X% per year) and the UK (X% per year).

In value terms, the largest spirits and liqueurs suppliers to Hong Kong SAR were China ($X), Singapore ($X) and the UK ($X), with a combined X% share of total imports. Thailand, France, Japan, the United States, the Netherlands and Australia lagged somewhat behind, together accounting for a further X%.

Thailand, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average spirits and liqueurs import price amounted to $X per litre, surging by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2016 an increase of X%. The import price peaked at $X per litre in 2019; however, from 2020 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Singapore ($X per litre), while the price for Australia ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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