AMI participated in the Hotel & Food Expo (HOFEX) in Hong Kong May 11-14. The growth in the Greater China region and SouthEast Asia is phenomenal. The dynamic economy, powered by young, energetic and intelligent human capital, is propelling the region to global powerhouse status. One can literally can witness the transition of power from North America/Europe to Asia/Pacific.
As a result, U.S. food and beverage brands are growing in this region. Hong Kong increased its imports of U.S. food products last year by 39% to nearly US$3 billion. Worldwide Hong Kong is the 4th largest market for U.S. high-value consumer products. Due to an increased focus on exports to the Asia region, U.S. food and beverages increased their relative market share of all food imports from 13% to an impressive 16%. Hong Kong consumers clearly prefer U.S. food and beverages over all other foreign markets.
AMI continues to recommend to its clients an export strategy which includes the strategic Special Administration Region (SAR) of Hong Kong, PRC. While Hong Kong consumers have long tasted foreign food products due to the 99 years of British rule, mainland Chinese consumers now desire to enjoy the same products. With a population nearly 200 times the size of Hong Kong, mainland China is a market too large to ignore for serious U.S. food and beverage exporters.