Hong Kong Food & Drink Report

Published 19 November 2014

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Hong Kong Food & Drink Report

BMI View :   Despite largely favourable business and regulatory environment, food and drink market in Hong Kong is highly mature and saturated thus presenting limited growth opportunities for foreign investors. Economic headwinds facing the territory over the coming quarters will put a further restraint on consumer spending. That said, we believe that innovative, convenience-oriented and private label products will continue to enjoy relatively high popularity over the coming year.

Headline Industry Data

  • Total food consumption (local currency) growth year-on-year (y-o-y) in 2014: +3.2%; forecast compound annual growth rate (CAGR) 2013-2018: +3.4%.

  • Per capita food consumption (local currency) growth (y-o-y) in 2014: +2.5%; forecast CAGR 2013-2018: +2.7%.

  • Alcoholic drinks volume (litres) sales growth (y-o-y) in 2014: +1.9%; forecast CAGR 2013-2018: +2.1%.

  • Carbonated soft drinks volume (litres) sales growth (y-o-y) in 2014: +2.1%; forecast CAGR 2013-2018: +1.7%.

  • Mass grocery retail sales (local currency) growth (y-o-y) in 2014: +4.0%; forecast CAGR 2013-2018: +3.8%.

Key Trends And Developments

Bread Street Kitchen To Open In Hong Kong: UK-based celebrity chef Gordon Ramsay's  Bread Street Kitchen is set to open its restaurant in central Hong Kong in September 2014. The company will collaborate with Dining Concepts, a specialist in the development of high-quality experiences throughout the region. The firm is further planning to open a series of restaurants in 2014 and 2015 in Hong Kong and across the region. The Asian outlet will be similar to the company's London outlet and will comprise a restaurant and bar complex in a warehouse-style design with a combination of vintage and modern furniture. The firm is in the final stages of discussion with Las Vegas Sands to explore possible opportunities in Singapore and Macau.

Hong Kong Leads Demand For Australian Wine : Hong Kong has developed into one of Australia's key wine export markets after...

BMI Industry View
7
SWOT
10
Food
10
Drink
12
Mass Grocery Retail
14
Industry Forecast
16
Consumer Outlook
16
Food
19
Food Consumption
19
Table: Food Consumption Indicators - Historical Data & Forecasts (Hong Kong 2011-2018)
21
Canned Food
21
Confectionery
21
Table: Confectionery Value/Volume Sales, Production & Trade - Historical Data & Forecasts (Hong Kong 2011-2018)
23
Meat
23
Table: Meat Volume Sales, Production & Trade - Historical Data & Forecast (Hong Kong 2011-2018)
24
Fish
24
Table: Fish Volume Sales, Production & Trade - Historical Data & Forecast (Hong Kong 2011-2018)
24
Pasta
25
Table: Pasta Volume Sales, Production & Trade - Historical Data & Forecasts (Hong Kong 2011-2018)
25
Frozen Food
26
Table: Frozen Fruit & Vegetables Volume Sales, Production & Trade - Historical Data & Forecasts (Hong Kong 2011-2018)
26
Dairy
27
Table: Dairy Volume Sales, Production & Trade - Historical Data & Forecasts (Hong Kong 2011-2018)
28
Drink
29
Alcoholic Drinks
29
Table: Alcoholic Drinks Value/Volume Sales, Production & Trade - Historical Data & Forecasts (Hong Kong 2011-2018)
30
Soft Drinks
30
Table: Soft Drinks Sales, Production & Trade (Hong Kong 2013-2018)
32
Hot Drinks
32
Table: Hot Drink Value/Volume Sales, Production & Trade - Historical Data & Forecasts (Hong Kong 2013-2018)
33
Mass Grocery Retail
33
Table: Mass Grocery Retail Sales By Format - Historical Data & Forecasts (Hong Kong 2013-2018)
36
Table: Sales Breakdown By Retail Format Type
37
Trade
37
Table: Trade Balance - Historical Data & Forecasts (Hong Kong 2011-2018)
38
Macroeconomic Forecast
39
Economic Analysis
39
Distinct Groups Forming Broader Movement
40
Beijing Sees Wider Ramifications
41
Political Risk On The Rise
41
PLA Involvement Unlikely, But Some Economic Impact To Be Felt
42
Table: Economic Activity (Hong Kong 2009-2018)
43
Industry Risk Reward Ratings
44
Asia Pacific - Risk/Reward Index
44
Table: Asia Pacific Food & Drink Risk/Reward Index Q115
45
Table: Asia Pacific Food & Drink Risk/Reward Sub-Factor Index Q115 - Selected Countries (scores out of 10)
49
Hong Kong Risk/Reward Index
50
Market Overview
51
Food
51
Food Production
51
Drink
51
Alcoholic Drinks
51
Soft Drinks
52
Hot Drinks
52
Mass Grocery Retail
52
Table: Structure Of Mass Grocery Retail Market By Estimated Number of Outlets (Hong Kong 2005-2014)
54
Table: Mass Grocery Retail Sales By Format (Hong Kong 2005-2014)
54
Table: Mass Grocery Retail Sales By Format (loccurbn) (Hong Kong 2005-2014)
54
Table: Average Sales Per Outlet By Format - 2012
55
Industry Trends And Developments
56
Food
56
Drink
57
Mass Grocery Retail
60
Competitive Landscape
63
Table: Key Players In Hong Kong's Food Sector
63
Table: Key Players In Hong Kong's Drink Sector
63
Table: Key Players In Hong Kong's Mass Grocery Retail Sector
64
Company Profile
65
Golden Resources Development
65
Tsit Wing
67
San Miguel Hong Kong
70
Vitasoy International
73
Dairy Farm International
77
AS Watson
80
Global Industry Overview
82
Table: Dollar General And Family Dollar Historic Quarterly Same-Store Sales Growth (% Change Y-O-Y)
86
Table: Selected US And Global Spirits Companies - Historical Financial Indicators
89
Table: Select US Beverage Companies - Historic Eva Spread
91
Table: Food and Drink Team's Core Views
92
Demographic Forecast
94
Table: Population Headline Indicators (Hong Kong 1990-2025)
95
Table: Key Population Ratios (Hong Kong 1990-2025)
95
Table: Urban/Rural Population And Life Expectancy (Hong Kong 1990-2025)
96
Table: Population By Age Group (Hong Kong 1990-2025)
96
Table: Population By Age Group % (Hong Kong 1990-2025)
97
Glossary
99
Food & Drink
99
Mass Grocery Retail
99
Methodology
101
Industry Forecast Methodology
101
Sector-Specific Methodology
102
Sources
102
Risk/Reward Index Methodology
103
Table: Food & Drink Risk/Reward Index Indicators
104
Table: Weighting
105

The Hong Kong Food & Drink Report features BMI Research's market assessment and independent forecasts for food and drink expenditure, consumption, sales, and imports/exports and forecasts for the mass grocery retail sector. The report also includes analyses of major regulatory developments, the background macroeconomic outlook and competitive landscape comparing national and multinational companies by leading products and services, sales, investments, partners and expansion strategies.

BMI's Hong Kong Food & Drink Report provides industry professionals and strategists, sector analysts, business investors, trade associations and regulatory bodies with independent forecasts and competitive intelligence on the food and drink industry and the mass grocery retail market in Hong Kong.

Key Benefits

  • Benchmark BMI's independent food and drink industry forecasts for Hong Kong to test other views - a key input for successful budgeting and strategic business planning in the Hong Kong food and drink market.
  • Target business opportunities and risks in Hong Kong through our reviews of latest industry trends, regulatory changes and major deals, projects and investments.
  • Exploit latest competitive intelligence on your competitors, partners and clients via our Company Profiles (inc. SWOTs, KPIs and latest activity) and Competitive Landscape Tables.

Coverage

BMI Industry View

Summary of BMI’s key industry forecasts and views, covering food and drink manufacturing and consumption and the mass grocery retail market.

Industry SWOT Analysis

Analysis of the major strengths, weaknesses, opportunities and threats within the food, drink and mass grocery retail sectors and within the broader political, economic and business environment.

BMI’s Food and Drink Risk Reward Index

BMI’s Risk Reward Index provides investors (food and drink manufacturers and mass grocery retailers) looking for opportunities in the region with a clear country-comparative assessment of a market’s risks and potential rewards. Each of the country markets are scored using a sophisticated model that includes more than 40 industry, economic and demographic points. These provide indices of highest to lowest appeal to investors, with each position explained.

Food Forecasts

BMI’s food chapter is divided into sections such as meat, fish, confectionary, dairy and canned foods, and provides insight into each market’s food industry, centred on a forecast to end-2019 for the sector. The chapter includes the following elements:

  • Industry Forecast Scenario: Historical data series and a forecast to end-2019 for growth of key indicators within a market’s food industry. Indicators include food consumption, food consumption as % of GDP, canned food sales, confectionery sales and food and drink imports and exports, among others.
  • Industry Developments: A summary of corporate developments, including news on M&As, FDI, expansions, closures and financial results, in addition to analysis and explanation of the latest industry events and how these could influence further investment.
  • Market Overview: An overview of the structure of the market, introducing the key players and discussing underlying trends.

Drink Forecasts

Segmented the same way as BMI’s food chapter, the drink section provides insight into each market’s drink industry, centred on a forecast to end-2019 for the sector. Forecast indicators include alcoholic and soft drink sales by value, volume and sub-sector and tea and coffee sales, among others.

Mass Grocery Retail Forecasts

Segmented the same way as BMI’s food and drink chapters, the mass grocery retail section provides insight into each market’s grocery retail industry, centred on a forecast to end-2019 for the sector. Forecast indicators include mass grocery retail sales by format (including supermarkets, hypermarkets, convenience and discount stores) and a breakdown of the organised retail sector versus the traditional sector, among others.

Competitive Landscape

Illustration of the mass grocery retail and food and drink industries via rankings tables comparing revenues, number of outlets and number of employees. This chapter also includes data-rich, in-depth regional analysis of the market position, business strategies and investment potential of the region’s leading mass grocery retail and food and drink operators.

Company Profiles*

Examines the competitive positioning and short- to medium-term business strategies of key industry players. Strategy is examined within the context of BMI’s industry forecasts, our macroeconomic views and our understanding of the wider competitive landscape to generate company SWOT analyses. The latest financial and operating statistics and key company developments are also incorporated within the company profiles, enabling a full evaluation of recent company performance and future growth prospects.

Sources

The Food & Drink reports draw on an extensive network primary sources, such as multilateral organisations, government departments, industry associations, chambers and company reports.

*Company profiles are not available for every country. Those reports instead contain information on the current activities of prominent companies operating in the market.

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