Hong Kong toasted the return of Vinexpo Asia this week after a six-year hiatus. Eloise Feilden finds out the trends which took top billing at the exhibition. Returning to Hong Kong following the Singapore debut of Vinexpo Asia last year, show organiser Vinexposium was expecting over 10,000 trade visitors from 60 countries to attend over the three days. Official attendee figures have not yet been released, but the busy halls of the HKCEC played host to 1,032 wine and spirits producers from 35 exhibitor countries. Here, we break down all of the key topics on the lips of visitors, exhibitors and speakers alike over the last three days. Baijiu is boss In a session titled ‘Status Spirits – Perpetual Progress or Bursting Bubble?’, IWSR Drinks Market Analysis director of consulting Luke Tegner broke down the state of the world’s super premium spirits sector. Defined by IWSR as any spirits priced at US$100+, status spirits is a niche category, but by no means one to ignore. High value spirits’ share of the market has almost doubled from 2017 to 2022, from 8% to 15% globally. Baijiu is an essential part of this story, making up 85% of the status spirits segment. The Chinese liquor is worth US$212 bn, according to IWSR figures. Volume sales are dropping in the lower end of the price range, but baijiu has seen major growth in the super premium segment. Tegner said it was “quite extraordinary what prices are being achieved by baijiu” in today’s market. And
This Article was originally published on The Drink Business - Wine
