Bottled Water - Hong Kong

The Bottled Water market in Hong Kong has been experiencing significant growth in recent years.

Customer preferences: One of the main reasons for the growth of the Bottled Water market in Hong Kong is changing customer preferences. Consumers are becoming more health-conscious and are increasingly opting for healthier beverage options. Bottled water is seen as a convenient and safe alternative to tap water, which may contain impurities. Additionally, the rising popularity of fitness and wellness trends has also contributed to the increased demand for bottled water.

Trends in the market: One of the key trends in the Bottled Water market in Hong Kong is the growing popularity of premium and functional bottled water. Consumers are willing to pay a premium for bottled water that offers additional benefits such as enhanced hydration, electrolytes, and vitamins. This trend is driven by the desire for healthier and more functional beverages. Another trend in the market is the increasing demand for environmentally friendly packaging. With growing concerns about plastic waste and its impact on the environment, consumers are looking for bottled water brands that use sustainable packaging materials and promote recycling. This trend is driving the development of eco-friendly packaging solutions in the Bottled Water market in Hong Kong.

Local special circumstances: Hong Kong's high population density and limited access to clean drinking water have also contributed to the growth of the Bottled Water market. Many residents live in small apartments without access to clean tap water, making bottled water a convenient and necessary option for hydration. Furthermore, Hong Kong's hot and humid climate makes bottled water a popular choice for staying hydrated throughout the day. The city's busy lifestyle and reliance on public transportation also make bottled water a convenient option for on-the-go consumption.

Underlying macroeconomic factors: Hong Kong's strong economy and high disposable income levels have also played a role in the growth of the Bottled Water market. As consumers have more purchasing power, they are willing to spend more on premium and functional bottled water. Additionally, the tourism industry in Hong Kong has contributed to the growth of the Bottled Water market. With millions of tourists visiting the city each year, there is a constant demand for bottled water from both domestic and international travelers. In conclusion, the Bottled Water market in Hong Kong is experiencing growth due to changing customer preferences, including a focus on health and wellness, as well as the demand for premium and functional products. The local special circumstances, such as limited access to clean tap water and the city's hot climate, further drive the demand for bottled water. Hong Kong's strong economy and the tourism industry also contribute to the growth of the market.

Data coverage:

The data encompasses B2C enterprises. The at-home market covers retail sales via super- and hypermarkets, eCommerce, convenience stores, or similar sales channels. The out-of-home data encompasses all sales to hotels, restaurants, catering, cafés, bars, and similar hospitality service establishments. Combined numbers encompass both the at-home market and the out-of-home market. Both the at-home and the out-of-home market are valued at retail selling prices including all sales and consumption taxes.

Modeling approach:

Market sizes are determined through a Top-Down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending (e.g. consumer spending on Non-Alcoholic Drinks, consumer spending at Hotels, Restaurants etc.), and price level index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Non-Alcoholic Drinks market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.