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Report
Hong Kong Wine Market Forecast 2023-2030
Market Report I 2023-09-15 I 103 Pages I Inkwood Research
KEY FINDINGS
The Hong Kong wine market is predicted to progress with a CAGR of 7.82% in terms of revenue and 3.31% in terms of volume over the forecast period. The region's market growth is fueled by key drivers, such as the rise in local wine consumption, the surging demand for sustainable wine, as well as significant sale & distribution and re-export of wine.
MARKET INSIGHTS
According to the latest data from the Hong Kong government, the year 2021 saw the import of 38.5 million liters of wine, valued at nearly $1.363 billion. These import levels closely resembled those seen prior to the global pandemic. Throughout that year, red wine, champagne, and white wine emerged as the most favored choices in response to consumer demand. The burgeoning demand for environmentally sustainable wine production stands out as a pivotal driver shaping the Hong Kong wine market.
As the wine culture in Hong Kong matures, an increasing number of local consumers are expected to become more discerning in their alcoholic beverage selections. Additionally, a rising trend toward sustainability is anticipated to motivate local consumers to set themselves apart, even as many continue to opt for premium or higher-priced well-known brands. Moreover, there has been a shift observed among major wine brands and wineries as they adopt more ecologically conscious production practices in response to this evolving consumer preference. Thus, such factors are anticipated to bolster the Hong Kong wine market growth during the forecasting years.
COMPETITIVE INSIGHTS
Some of the major players operating in the market are Treasury Wine Estates Ltd, Delegat Group Ltd, E & J Gallo Winery, etc.
Our report offerings include:
- Explore key findings of the overall market
- Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
- Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
- Market Segmentation caters to a thorough assessment of key segments with their market estimations
- Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
- Key analytics: Porter's Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
- The competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
- Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments
TABLE OF CONTENTS
1. RESEARCH SCOPE & METHODOLOGY
1.1. STUDY OBJECTIVES
1.2. METHODOLOGY
1.3. ASSUMPTIONS & LIMITATIONS
2. EXECUTIVE SUMMARY
2.1. MARKET SIZE & ESTIMATES
2.2. COUNTRY SNAPSHOT
2.3. COUNTRY ANALYSIS
2.4. SCOPE OF STUDY
2.5. CRISIS SCENARIO ANALYSIS
2.5.1. IMPACT OF COVID-19 ON WINE MARKET
3. MARKET DYNAMICS
3.1. KEY GROWTH ENABLERS
3.1.1. RISE IN LOCAL WINE CONSUMPTION
3.1.2. SIGNIFICANT SALE & DISTRIBUTION AND RE-EXPORT OF WINE
3.1.3. DEMAND FOR SUSTAINABLE WINE
3.2. KEY CHALLENGES
3.2.1. GOVERNMENT REGULATIONS
3.2.2. STRONG COMPETITION FROM OTHER ALCHOLIC BEVERAGES
4. KEY ANALYTICS
4.1. KEY MARKET TRENDS
4.2. PEST ANALYSIS
4.3. PORTER'S FIVE FORCES ANALYSIS
4.3.1. BUYERS POWER
4.3.2. SUPPLIERS POWER
4.3.3. SUBSTITUTION
4.3.4. NEW ENTRANTS
4.3.5. INDUSTRY RIVALRY
4.4. OPPORTUNITY MATRIX
4.5. VALUE CHAIN ANALYSIS
4.6. KEY BUYING CRITERIA
4.7. MARKET SHARE ANALYSIS, IN 2021 & 2022 (IN %)
4.8. BRAND SHARE ANALYSIS, IN 2021 & 2022 (IN %)
5. MARKET BY PRODUCT (IN TERMS OF REVENUE: $ MILLION & IN TERMS OF VOLUME: MILLION LITERS)
5.1. FORTIFIED WINE AND VERMOUTH
5.1.1. PORT
5.1.2. SHERRY
5.1.3. VERMOUTH
5.1.4. OTHER FORTIFIED WINE
5.2. NON-GRAPE WINE
5.2.1. APPLE WINE
5.2.2. OTHER NON-GRAPE WINE
5.3. SPARKLING WINE
5.3.1. CHAMPAGNE
5.3.2. OTHER SPARKLING WINE
5.4. STILL LIGHT GRAPE WINE
5.4.1. STILL RED WINE
5.4.2. STILL ROSE WINE
5.4.3. STILL WHITE WINE
6. MARKET BY TRADE (IN TERMS OF REVENUE: $ MILLION & IN TERMS OF VOLUME: MILLION LITERS)
6.1. OFF-TRADE
6.2. ON-TRADE
7. MARKET BY PRICE RANGE - SPARKLING WINE
8. MARKET BY PRICE RANGE - STILL RED WINE
9. MARKET BY PRICE RANGE - STILL ROSE WINE
10. MARKET BY PRICE RANGE - STILL WHITE WINE
11. COMPETITIVE LANDSCAPE
11.1. KEY STRATEGIC DEVELOPMENTS
11.1.1. ACQUISITIONS
11.1.2. PRODUCT LAUNCHES & DEVELOPMENTS
11.1.3. PARTNERSHIPS
11.1.4. BUSINESS EXPANSIONS
11.2. COMPANY PROFILES
11.2.1. TREASURY WINE ESTATES LTD
11.2.2. DELEGAT GROUP LTD
11.2.3. E & J GALLO WINERY
11.2.4. MOET HENNESSY
11.2.5. 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 ROSE WINE, HISTORICAL YEARS, 2018-2022 (IN %)
TABLE 31: HONG KONG WINE MARKET, BY PRICE RANGE - STILL ROSE 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 ROSE 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)
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