Hong Kong

One of the most interesting markets for brands looking to enter Asia, with a mix that creates a unique environment for commercial trade: 7.5 million residents from various nationalities, a center for business and tourism, and a gateway to mainland China.

With no import duties on cosmetics, toiletry and skincare products, and no registration requirement on cosmetic products, Hong Kong offers an important launch pad for marketing cosmetics and skincare products into the mainland Chinese market.

In the food & supplement category, 95% of Hong Kong’s food requirements are supplied by imports, and there are no taxes or duty in anything but liquor, tobacco, hydrocarbon oil, and methyl alcohol. Hong Kong also serves as a trading hub to China and other parts of Asia in this category.

• 7.5 million residents
• 60 million tourists per year
• 80% of tourism originates in mainland China
• USD 6.35 billion value of imports in 2018
• USD 2.7 billion personal care & cosmetic product import market in 2018
• 2-3% projected growth rate in value of imported products for 2019/2020

Major Market Trends

 

Increasing demand for natural clean cosmetics and organic products

Men’s grooming and functional hair care products on the rise Increasing demand for functional skincare products & cosmetics.

Increasing demand for food that is time saving, yet healthy

A receptive environment for products that promote health-maintenance Growth in the demand for convenience foods such as microwaveable and packaged foods Frozen ready meals and other frozen processed food are gaining popularity