HK beats Japan, Singapore as most mature wine market

Hong Kongers drink more than twice as Singaporeans.

The latest VINEXPO/The The International Wine and Spirit Research (IWSR) study of the Asian wine market revealed that Hong Kong wine consumption almost doubled between 2007 - 2011, making it Asia’s most mature wine market, with the region’s highest average annual consumption at 5.3 litres per person.

Wine consumption in Hong Kong almost doubled in the five years from 2007 to 2011, increasing from 1.82 million 9-litre cases to 3 million. Consumption grew by a further 5% in 2012, reaching 3.48 million cases, the equivalent of 41.7 million bottles. The VINEXPO / IWSR study predicts further growth of 39.62% over the next five years, rising to 4.76 million cases by 2016.

Hong Kong consumers drink twice as much wine as the Japanese, averaging 2.7 litres per person a year, and Singaporeans, averaging 2.3 litres. Red wine predominates in Hong Kong, accounting for 82.5% of all wines consumed. Hong Kong also consumes twice the Asian average of sparkling wine, accounting for 3.6% of total consumption.

The study showed that France supplies the greatest volume of wines to Hong Kong, accounting for 31% of all consumption; ahead of Australia with a 19% market share. Exports from both countries to Hong Kong increased significantly between 2007 and 2011, by 72.5% and 55.8% respectively.

Over the same five years, American wine imports grew the most, by 127.2%, making the US Hong Kong’s third largest supplier with a 13.5% market share.

Hong Kong is also an important hub for re-exporting wines to the rest of Asia, especially Mainland China. From around 5 million 9-litre cases of wine imported annually, re-exports account for 40%, or 2 million cases.

Spirits consumption in Hong Kong is falling. Total consumption of 1.42 million 9-litre cases of spirits in 2011 was 7% less than in 2007. The drop is mainly due to reduced consumption of the Chinese spirit Baiju, which accounts for 60% of all spirits consumed in Hong Kong. But consumption of vodka, cognac, liqueurs and gin is growing and the VINEXPO / IWSR study predicts the spirits market should stabilise between 2012 and 2016, and even increase slightly by 1.52%.