Alcohol in Asia’s wealthiest markets: Singapore, Hong Kong and Macau


As small and wealthy global cities Singapore, Hong Kong and Macau play a defining role in Asia’s alcohol market, influencing consumption patterns in much of the region. This is one reason these are often initial entry points for new brands trying to establish a sales footprint in Asia.


Tipplers in Singapore are set to support over US$2.6 billion in alcohol sales in the Southeast Asian city-state. Beer accounts for most of this with pilsners being the draft of choice. For those partial to spirits, cognac maintains the largest share of this market segment; however, whiskey, gin, and liqueurs are eating away at its lead. Demand for wine is strong and growing. According to Statista, the market will enjoy a 7.29% CAGR through 2025. Although taxes and duties on alcohol are high in Singapore, this is largely offset by high local incomes.

Hong Kong & Macau

Despite having separate histories, Hong Kong and Macau converge in many ways and are typically treated as a quasi-unified market by local distributors and importers, many of which operate in both Special Administrative Regions (SAR). British-style pubs remain a hallmark of Hong Kong’s after-hours life in the core business district with drinkers happy to enjoy diverse flavors of beers. Wine and liquors are more heavily dominated by imported options—particularly whiskey, vodka, and gin—making it a good destination for brands seeking expansion opportunities.

Much of demand in Macau is supported by tourism, particularly from China. Alcohol demand in Hong Kong and Macau in 2021 will each nearly US$3 billion with an anticipated CAGR of 8.1% through 2025.


Despite small populations Asia’s wealthy global cities punch well above their weight. Consumers in these cities are more aware of existing alcohol options and open to new and novel offerings. These factors, along with strong forecasted growth, make Singapore, Hong Kong and Macau excellent initial markets for new brands entering the region.

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