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The Hong Kong Wine Market
Gruppo Orbis, Jan 2011, Pages: 31
2009 has been the year of the crisis for wine producing countries.
France, which in 2008 exported more than $ 10 billion worth of wine, did not reach $ 8 billion in 2009, resulting in a 23% fall on export turnover. Italy, the world’s second biggest exporter, fell from $ 5.2 billions to 4.8 (-7.7%); Spain from 2.9 to 2.3 (-20%); Australia from 2.1 to 1.8 (-14%). Indeed, in 2009 only a few countries increased their imports. Among these, those presenting interesting trends (and volumes) are even fewer: Brazil ($ 200 billions in 2009), China (457 billions), Hong Kong (520 billions) and Macao (117 billions).
In these markets, what are the characteristic that makes Hong Kong in particular a very interesting place for small and medium Italian producers?
Briefly:
- As of February 2008, trade barriers have been eliminated and wine imports are tax free
- Hong Kong’s market has to import 100% of the wine it consumes
- Importers/distributors are re-exporting directly to PRC, quantities exceeding internal consumption.
This report (based on data derived from main international institutions and interpreted with statistical models) systematically analyses the evolution of Hong Kong’s wine market by making use of data, tables and graphs. The report is segmented by country and includes consumer models for the local population. In addition, the report looks at the risks as well as the development opportunities.
Not only that, it also provides you with some (encouraging) estimates for the future and gives practical advice for entrepreneurs: the main fairs, the main importers, distributors and institutions.
Hong Kong has to import 100% of the wine that it consumes and exports to the PRC. This growth has seen a tremendous acceleration thanks to the elimination of duties and trade barriers and has raised the attention of producing countries who understand the enormous opportunities offered by this small territory.
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