Submitted by ACN Newswire
Global wine trading platform uncorks potential for emerging markets
The 15th HKTDC Hong Kong International Wine & Spirits Fair, organized by the Hong Kong Trade Development Council (HKTDC), ran from November 3rd to 5th, 2023. The fair drew enthusiastic buyers from emerging markets to the Hong Kong Convention and Exhibition Centre. Several regions stood out, including Korea, Mainland China, Taiwan, and Southeast Asian countries such as Indonesia and Malaysia, showing healthy potential for development. The return of global buyers to the physical Wine and Spirits Fair underlines Hong Kong’s status as a key trade and distribution hub for wine in the region.
The fair attracted approximately 7,000 buyers from 49 countries and regions. On Public Day, the fair was open to ticket holders aged 18 or above, drawing around 9,000 wine enthusiasts to enjoy the beverages and attend events such as masterclasses, wine tasting, and seminars.
Sophia Chong, the HKTDC’s Deputy Executive Director, said, “The 15th Wine & Spirits Fair featured more than 500 exhibitors from 17 countries and regions, where wine sellers and buyers came together, and buyers were eager to source products. Public Day was also well received, and members of the public enjoyed the wine tasting experience and made fruitful purchases.”
Eric Fung, Director (Hong Kong) of the Japanese exhibitor Flavour of Life G.K., stated, “The wine fair has attracted a significant number of international buyers and is undoubtedly the most important wine trade fair in Hong Kong. We are very pleased with the quality of buyers, most of whom come from Southeast Asia, including India, Vietnam, Cambodia, and Laos. These are high-potential markets for sake. We have also had buyers from Africa, particularly Nigeria, which is an extremely promising market. If it weren’t for participating in this event, we would not have had the opportunity to connect with them.” His firm had established about 25 new connections at the fair, with two or three being high-potential buyers.
Emerging Demand for Non-Alcoholic Wines
The primary objective at the event for Gary Lee, the Business Development Director of Singapore’s San Sesan Global Pte Ltd, was to source vegan and alcohol-free wines, with a specific focus on products from Spain and Germany. He welcomed the Click2Match platform, which facilitated meeting scheduling and record-keeping. Lee joined 20 business matchmaking sessions, engaging with eight exhibitors offering vegan and alcohol-free wines. “These meetings were highly effective, and I identified several exhibitors with significant potential,” Lee says. “Each deal we make is typically valued at approximately US$300,000.”
The fair featured 36 exciting events, including the seminar “Baijiu Journey: Savoring the Flavors of China” and two wine industry conferences, one of which featured the sole Chinese Master Sommelier in the world, Lu Yang, discussing wine market opportunities in China and Asia.
About HKTDC
The Hong Kong Trade Development Council (HKTDC) is a statutory body established in 1966 to promote, assist, and develop Hong Kong’s trade. With 50 offices globally, including 13 in Mainland China, the HKTDC promotes Hong Kong as a two-way global investment and business hub. Website: www.hktdc.com
