Hong Kong: US Hops Continue to Pop in Hong Kong
Link to report:
Over the last five years, Hong Kong’s global imports of hops expanded 42 percent, growing 10 percent to $7.2 million in 2021. The United States continues as the leading supplier enjoying 96 percent market share. Hong Kong re-exported 72 percent of its hop imports to other markets in the region, retaining 28 percent for local breweries. Despite the COVID-19 pandemic, domestic beer sales are stable, and expected to reach $867 million in 2022 and grow to $1.1 billion by 2026. The steady growth of beer sales is likely to encourage more local breweries to boost their production which in turn would increase demand for U.S. quality hops.
