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Demand for cider/perry continues to be negatively impacted by ongoing protests in Hong Kong, with many consumers drastically cutting down on socialising and eating out in response to fears over instability. In addition, rising consumer uncertainty and price sensitivity has resulted in a reduction in expenditure on non-essential items.
Despite the growing popularity of cider/perry in Hong Kong, the market remained underserved at the end of the review period. The number of brands on offer remains very limited, although this is gradually changing.
Somersby, owned by Carlsberg Hong Kong, continues to lead cider/perry sales in Hong Kong. Over the last few years, Carlsberg Group has been adopting it’s SAIL’22 strategy designed to prioritise growth in Asia.
Cider/perry on-trade volume sales are now expected to fall by some 41% in 2020 in light of the impact of COVID-19. This represents a major decline from the 4% increase forecast for 2020 during research conducted in May 2019, before the outbreak of the pandemic.
With on-trade outlets closed down during Hong Kong’s lockdown, sales are collapsing via this channel in 2020. Off-trade sales continue to rise, albeit at a slower rate than previously expected, with consumers having access to grocery stores throughout the lockdown.
Despite rising consumer price sensitivity due to the economic slowdown and potential global economic recession in the wake of the COVID-19 pandemic, cider/perry could benefit from being fairly inexpensive. In the short term, social distancing and preventive measures will still put many off from visiting on-trade establishments, although on-trade sales should gradually rise over the coming years.
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Overview
Discover the latest market trends and uncover sources of future market growth for the Cider/Perry industry in Hong Kong, China with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
If you're in the Cider/Perry industry in Hong Kong, China, our research will save you time and money while empowering you to make informed, profitable decisions.
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This industry report originates from Passport, our Alcoholic Drinks market research database.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.