WINE & SPIRITS
Hong Kong is the wine industry hub of Asia. It became the central point for trade in wines and beverages in the Asia Pacific region when it stopped duties and administrative controls in February 2008.
Today, it boasts of many fine wine merchants and professionals who specialize in the purchase, sale, auctions, storage and transport of fine wines and spirits.
Wines graded minus 30% alcohol tax exempted and need no private license, in contrast, alcoholic drinks with more than 30% require a license for importation and payment of tax duties.
As a result, the wine industry in Hong Kong has flourished. It has become not only an export market for other countries in the region but also a local consumption market where wine lovers and connoisseurs are eager to savour new brands, products and flavours.
Due to Hong Kong’s low trade barriers, it is a melting pot of wines from different countries around the world. According to HKTDC statistics for 2020, French wines have the largest market share with 64.9%, followed by Australia 11%, United Kingdom 9.2%, Italy 2.8%, New Zealand 1.2% and Germany 0.9%.
In this exciting wine trade landscape, wine associations, winemakers and exporters need strategies to penetrate the dynamic market of Hong Kong, particularly with the situation of Covid-19.
Events and brand representation have become a challenge but CarminK is a perfect solution for you.
Wines from “small producer”, “terroir wines”, and “independent winegrowers” dimension are becoming an important trend particularly for Millennials and Generation Z