Hong Kong SAR, China: Market for Cider, Perry, Mead And Other Fermented Beverages 2024

Market Size for Cider, Perry, Mead And Other Fermented Beverages in Hong Kong SAR, China

The Hong Kong cider, perry and mead market rose notably to $X in 2021, growing by 14% against the previous year. The market value increased at an average annual rate of +2.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Production of Cider, Perry, Mead And Other Fermented Beverages in Hong Kong SAR, China

In value terms, cider, perry and mead production skyrocketed to $X in 2021 estimated in export price. In general, production, however, recorded a deep reduction. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Exports of Cider, Perry, Mead And Other Fermented Beverages

Exports from Hong Kong SAR, China

In 2021, shipments abroad of cider, perry, mead and other fermented beverages increased by 137% to X litres, rising for the seventh year in a row after two years of decline. Overall, exports showed a buoyant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, cider, perry and mead exports skyrocketed to $X in 2021. In general, exports enjoyed a significant increase. The most prominent rate of growth was recorded in 2020 when exports increased by 70% against the previous year. The exports peaked in 2021 and are likely to continue growth in years to come.

Exports by Country

China (X litres) was the main destination for cider, perry and mead exports from Hong Kong SAR, with a 74% share of total exports. Moreover, cider, perry and mead exports to China exceeded the volume sent to the second major destination, Macao SAR (X litres), threefold.

From 2012 to 2021, the average annual rate of growth in terms of volume to China stood at +35.3%.

In value terms, China ($X) remains the key foreign market for cider, perry, mead and other fermented beverages exports from Hong Kong SAR, comprising 72% of total exports. The second position in the ranking was held by Macao SAR ($X), with a 26% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to China totaled +48.0%.

Export Prices by Country

In 2021, the average cider, perry and mead export price amounted to $X per litre, falling by -29.6% against the previous year. Over the period under review, export price indicated a tangible increase from 2012 to 2021: its price increased at an average annual rate of +3.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2020 an increase of 28%. As a result, the export price attained the peak level of $X per litre, and then shrank dramatically in the following year.

Average prices varied noticeably for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Macao SAR ($X per litre), while the average price for exports to China stood at $X per litre.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (+9.4%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Cider, Perry, Mead And Other Fermented Beverages

Imports into Hong Kong SAR, China

Cider, perry and mead imports into Hong Kong SAR amounted to X litres in 2021, standing approx. at 2020 figures. Overall, total imports indicated prominent growth from 2012 to 2021: its volume increased at an average annual rate of +6.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +94.6% against 2015 indices. The pace of growth appeared the most rapid in 2020 when imports increased by 55% against the previous year. Over the period under review, imports reached the maximum in 2021 and are expected to retain growth in the immediate term.

In value terms, cider, perry and mead imports soared to $X in 2021. In general, imports enjoyed a prominent expansion. The growth pace was the most rapid in 2020 with an increase of 64%. Over the period under review, imports hit record highs in 2021 and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Japan (X litres) constituted the largest supplier of cider, perry and mead to Hong Kong SAR, with a 50% share of total imports. Moreover, cider, perry and mead imports from Japan exceeded the figures recorded by the second-largest supplier, China (X litres), twofold. The third position in this ranking was taken by South Korea (X litres), with a 17% share.

From 2012 to 2021, the average annual growth rate of volume from Japan totaled +12.8%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-1.5% per year) and South Korea (+27.5% per year).

In value terms, Japan ($X) constituted the largest supplier of cider, perry, mead and other fermented beverages to Hong Kong SAR, comprising 84% of total imports. The second position in the ranking was taken by China ($X), with a 9.3% share of total imports. It was followed by South Korea, with a 4.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Japan stood at +15.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+5.8% per year) and South Korea (+24.7% per year).

Import Prices by Country

In 2021, the average cider, perry and mead import price amounted to $X per litre, surging by 15% against the previous year. Overall, import price indicated prominent growth from 2012 to 2021: its price increased at an average annual rate of +5.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, cider, perry and mead import price increased by +65.2% against 2018 indices. The pace of growth appeared the most rapid in 2019 when the average import price increased by 37%. Over the period under review, average import prices attained the peak figure in 2021 and is expected to retain growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+7.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :