Brands are focusing on changing the client demographic for cognac, from the older generation who likes to drink this spirit, to the much younger generation, who will fuel luxury spending moving forward. Brandy and cognac, especially Hennessey XO, are most popular amongst mainland tourists and the older generation.
E-commerce is set to remain a strongly performing distribution channel in 2022, although the growth rate is expected to slow, as it spiked in the past two years. Continued growth in the forecast period will be driven by the fact that brands are still investing a lot of money in their online businesses.
Fine wines/champagne and spirits is expected to record dynamic growth in the forecast period. It is expected that tourist sales will return from 2023, and fully recover to the pre-COVID-19 level in 2024.
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Understand the latest market trends and future growth opportunities for the Fine Wines/Champagne and Spirits industry in Hong Kong, China with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
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Fine Wines/Champagne and Spirits
This is the aggregation of fine wines and luxury spirits.See All of Our Definitions
This report originates from Passport, our Fine Wines/Champagne and Spirits research and analysis database.
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