HK1416 HRI Food Service Sector Annual 2014

Topics: Hong Kong, Organic food, Fast food Pages: 24 (7253 words) Published: April 26, 2015
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 food outlets. In addition, there are over 1,000 bars, pubs and other eating and drinking establishments.



Chinese restaurants: Chinese restaurants are popular among local citizens and tourists. There are a variety of Chinese restaurants in Hong Kong serving different regional cuisines: Canton, Shanghai, Beijing, Sichuan…etc. A typical lunch at a nice Chinese restaurant costs around HK$150-300 (US$19.23-38.46) per person and a typical dinner costs around HK$200-450 (US$25.64-57.69) per person.



Non-Chinese restaurants: Many Hong Kong consumers enjoy western food, as do the over 54 million tourists (in 2013). 5-Star and other high-end western restaurants are as likely to be patronized by locals as tourists/visitors. Japanese food, fast food chains, coffee houses and casual dining establishments are also increasing their presence. A typical lunch at a western restaurant costs around HK$150-350 (US$19.23-44.87) per person and a typical dinner costs around HK$250-500 (US$32.05-64.10) per person.



Fast food outlets: Fast food outlets are popular among Hong Kong consumers. The most popular fast food chains in Hong Kong are McDonald’s, KFC and Pizza Hut. There are also some large local fast food chains such as Café De Coral, Maxim’s and Fairwood that serve both Chinese and western foods. Competition among fast food chains is intense, as they each try to keep meal prices competitive. The average cost is around HK$35 (US$4.49) for breakfast, HK$50 (US$6.41) for lunch, HK$30 (US$3.84) for afternoon tea and HK$70 (US$8.97) for dinner. To further meet competition, many fast food operators have renovated their outlets to make them look more modern, spacious and attractive. To meet the demand of a growing number of health-conscious customers, fast food chains have also introduced more new ingredients and developed health-food options such as salads, fruits, and fresh juices.



Coffee Shops: The...
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