Hong Kong – A world class wine trading and distribution hub in Asia
Hong Kong, is quickly becoming Asia's wine trading and distribution hub. Since the elimination of wine duties in February 2008, merchants have seized the opportunity to increase shipments and establish a greater presence in Hong Kong.
Overall, the Hong Kong market has been responding positively.
- Wine exports to Hong Kong in 2012 amounted to US$1.03 billion.
- The U.S. is currently the 4th largest wine exporter to Hong Kong, in terms of value and third in terms of quantity.
- U.S. wine exports to Hong Kong amounted to US$66.8 million in 2012.
- The U.S. as well as its Oregon and Washington States have signed Memorandum of Understanding on Cooperation in Wine-related Businesses with Hong Kong to promote U.S. wines in Hong Kong.
- In Hong Kong, wines are sold domestically through off-trade channels such as supermarkets, specialty stores and convenience stores, and on-trade channels such as bars, restaurants and club houses. According to HKTDC Research which quoted Euromonitor International, wine sales in Hong Kong amounted to US $372 million or 12.3 million litres in 2011, up 31% and 34% respectively compared to five years ago. For 2012 to 2016, it is forecast to grow 6% per annum in value terms and 3.9% per annum in volume terms.
- Sales in China have seen spectacular growth, reaching US$33.1 billion or 3.9 billion litres in 2011, up 143% and 79% respectively compared to five years ago. For 2012-2016, sales are forecast to grow 15% per annum in value terms and 11% per annum in volume terms.