HONG KONG, November 11, 2024 — The 16th Hong Kong International Wine & Spirits Fair wrapped up yesterday, drawing over 8,200 trade buyers from 61 countries and regions. Organized by the Hong Kong Trade Development Council (HKTDC), the three-day event also welcomed an estimated 10,000 visitors on its public day, offering a wide range of tastings, master classes, and seminars.
The Fair was a significant platform for networking, with 50 events facilitating trade discussions and partnerships. A key highlight was the promotion of Chinese baijiu, which benefited from a recent reduction in liquor duties, a move announced in Hong Kong’s Policy Address. This policy change is expected to boost the international appeal of high-end spirits, including baijiu, whisky, and vodka.
Sophia Chong, Deputy Executive Director of the HKTDC, noted that the Fair attracted more buyers from ASEAN countries such as Indonesia, Thailand, Malaysia, the Philippines, and Vietnam, as well as from Japan, Taiwan, and Mainland China. “Global buyers are eager to come to Hong Kong, reinforcing its status as a regional hub for wines and spirits,” Chong remarked.
The Policy Address’s duty reduction is seen as a major opportunity for the spirits sector, particularly in promoting Chinese baijiu to the global market. Over a quarter of the exhibitors featured spirits from across the globe, including premium brands of baijiu, whisky, and brandy. Chong added, “This change is already creating business opportunities, and we’re excited to see exhibitors and buyers making the most of the new trade environment.”
Strong Business Deals for Baijiu and Whiskey Exhibitors
Several notable business deals were secured during the event. Guizhou Jin Jiao Liquor Industry (Group) Co., Ltd., a major producer of high-end Chinese baijiu, signed a strategic agreement with Hong Kong-based Wines up Shoppers Group, with a projected RMB10 million in sales within the first year. CEO Xu Xinzhou expressed optimism about expanding the company’s international reach, especially in Southeast Asia.
Clonakilty Distillery Ltd, an Irish whiskey maker attending the Fair for the first time, found success in connecting with global buyers. Founder Michael Scully reported that the company identified over 30 potential buyers in just two days. “The liquor tax reduction is fantastic news for the industry, and we’ve already secured an initial order of EUR100,000 from a major buyer,” Scully said. He added that he anticipates future orders worth up to EUR1 million as a result of the Fair.
Global Representation and Diverse Offerings
The Fair offered an extensive range of wines and spirits from around the world. Notable exhibitors included wines from Ningxia, Yantai, and Xinjiang in Mainland China, as well as European selections from France, Italy, and Germany. The event also attracted first-time exhibitors like Czech wine producer THAYA vinarstvi, who engaged with buyers from China, Hong Kong, India, Malaysia, Japan, Singapore, and Vietnam.
Sambath Sothea, CEO of Auskhmer Import Export Co. Ltd. in Cambodia, expressed satisfaction with his experience at the Fair, identifying four potential suppliers and planning to purchase about USD 50,000 worth of products, including Japanese sake and Italian wines.
Seminars Address Industry Trends and Consumer Demands
The Fair also hosted a series of seminars addressing key industry trends, including the increasing demand for cocktails among Gen Z and millennials. According to Master of Wine Debra Meiburg, these younger consumers are drawn to vibrant, shareable drinks that lend themselves well to social media marketing.
Sustainability was another central theme, with experts discussing how eco-friendly practices in wine production could boost consumer confidence. One seminar on sustainable wine emphasized the growing demand for transparency in production methods, with participants agreeing that sustainability is key to the future of the industry.
Hybrid Business Opportunities
In addition to the in-person experience, the Fair utilized the EXHIBITION+ hybrid mode, allowing buyers and exhibitors to engage virtually through the HKTDC Marketplace App. The Scan2Match feature enabled buyers to scan QR codes for exhibitors’ product details and continue negotiations online through the Click2Match platform until November 16.
The 16th Hong Kong International Wine & Spirits Fair demonstrated the continued strength of the global alcoholic beverages market and underscored Hong Kong’s role as a premier trade and networking destination for the industry. With significant business transactions and valuable networking opportunities, the event reinforced its reputation as a key platform for expanding market reach and exploring new trade opportunities in Asia and beyond.
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