HK1416 HRI Food Service Sector Annual 2014
THIS REPORT CONTAINS ASSESSMENTS OF COMMODITY AND TRADE ISSUES MADE
BY USDA STAFF AND NOT NECESSARILY STATEMENTS OF OFFICIAL U.S.
GOVERNMENT POLICY
Voluntary
-
Public
Date: 3/24/2014
GAIN Report Number: HK1416
Hong Kong
Post:
Hong Kong
HRI Food Service Sector Annual 2014
Report Categories:
Food Service - Hotel Restaurant Institutional
Approved By:
Erich Kuss
Prepared By:
Chris Li, Annie Lai
Report Highlights:
Hong Kong food service sector recorded modest growth in 2013, with restaurant receipts reached US$12.4 billion, an increase of 3.5% over 2012. Hong Kong imports of high value food products from the U.S. reached US$4 billion in 2013, consolidating our position as the leading food supplier to Hong Kong. It is expected that Hong Kong will maintain its position as one of the top 5 markets for U.S. consumer ready food products in 2014, as it continues to be a major buying center and transshipment point for other markets in the region. Economic growth in Hong Kong is forecast to be 3.5% in 2014. Post expects that U.S. products will continue to fair well due to competitive prices and consumer confidence in the quality and safety of U.S. products.
Page 1 of 24
SECTION I. HONG KONG MARKET PROFILE
HRI Food Service Sector
1. Restaurants
Hong Kong restaurant industry’s purchases of US$4.32 billion in foods and beverages generated sales of US$12.4 billion in 2013. This represented an increase of 1.6% and
3.5% respectively over 2012. It is expected that restaurant purchases and receipts will continue to grow in 2014.
Table 1 – Hong Kong Restaurants Receipts and Purchases (US$ Billion)
2012
2013
Growth (13 vs 12)
Restaurant Receipts
12
12.4
3.5%
Restaurant Purchases
4.25
4.32
1.6%
(Source: Hong Kong Census & Statistics Department, US$1=HK$7.8)
As Asia’s most cosmopolitan city, Hong Kong boasts around 14,000 restaurants serving a wide range of world cuisines. These restaurants are comprised of 37% Chinese, 56% non-Chinese restaurants, and 7% fast
BY USDA STAFF AND NOT NECESSARILY STATEMENTS OF OFFICIAL U.S.
GOVERNMENT POLICY
Voluntary
-
Public
Date: 3/24/2014
GAIN Report Number: HK1416
Hong Kong
Post:
Hong Kong
HRI Food Service Sector Annual 2014
Report Categories:
Food Service - Hotel Restaurant Institutional
Approved By:
Erich Kuss
Prepared By:
Chris Li, Annie Lai
Report Highlights:
Hong Kong food service sector recorded modest growth in 2013, with restaurant receipts reached US$12.4 billion, an increase of 3.5% over 2012. Hong Kong imports of high value food products from the U.S. reached US$4 billion in 2013, consolidating our position as the leading food supplier to Hong Kong. It is expected that Hong Kong will maintain its position as one of the top 5 markets for U.S. consumer ready food products in 2014, as it continues to be a major buying center and transshipment point for other markets in the region. Economic growth in Hong Kong is forecast to be 3.5% in 2014. Post expects that U.S. products will continue to fair well due to competitive prices and consumer confidence in the quality and safety of U.S. products.
Page 1 of 24
SECTION I. HONG KONG MARKET PROFILE
HRI Food Service Sector
1. Restaurants
Hong Kong restaurant industry’s purchases of US$4.32 billion in foods and beverages generated sales of US$12.4 billion in 2013. This represented an increase of 1.6% and
3.5% respectively over 2012. It is expected that restaurant purchases and receipts will continue to grow in 2014.
Table 1 – Hong Kong Restaurants Receipts and Purchases (US$ Billion)
2012
2013
Growth (13 vs 12)
Restaurant Receipts
12
12.4
3.5%
Restaurant Purchases
4.25
4.32
1.6%
(Source: Hong Kong Census & Statistics Department, US$1=HK$7.8)
As Asia’s most cosmopolitan city, Hong Kong boasts around 14,000 restaurants serving a wide range of world cuisines. These restaurants are comprised of 37% Chinese, 56% non-Chinese restaurants, and 7% fast