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. Overall, consumption, however, showed 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 declined to $X in 2022 estimated in export price. In general, production, however, posted a resilient expansion. The pace of growth appeared the most rapid in 2013 with an increase of X%. Over the period under review, production reached the maximum level at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Spirits And Liqueurs Exports

Exports from Hong Kong SAR, China

In 2022, the amount of spirits, liqueurs and other spirituous beverages exported from Hong Kong SAR dropped dramatically to X litres, declining by X% compared with the previous year. Overall, exports continue to indicate a abrupt decrease. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. 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 fell to $X in 2022. In general, exports showed a noticeable shrinkage. The growth pace was the most rapid in 2021 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2013; however, from 2014 to 2022, the exports remained at a 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, with a combined X% share of total exports. Singapore, Russia, Indonesia, Vietnam and Malaysia lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for Russia (with a CAGR of X%), while shipments for 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%, saw the highest rates of growth with regard to the value of exports, among 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, picking up by X% against the previous year. In general, export price indicated a strong expansion 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. The export price peaked in 2022 and is likely to see steady growth in the immediate term.

There were significant differences in the average prices for the major foreign 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, overseas purchases 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. Overall, imports, however, saw a pronounced decline. The most prominent rate of growth was recorded in 2018 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum at X litres in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, spirits and liqueurs imports expanded sharply to $X in 2022. Over the period under review, imports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of X%. As a result, imports reached the peak of $X. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, China (X litres) constituted the largest supplier of spirits and liqueurs 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 third position in this ranking was held by the UK (X litres), with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to 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 growth rate of 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

The average spirits and liqueurs import price stood at $X per litre in 2022, picking up 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 remained at a 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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