Hot drinks is the leading food category constituting the majority of market share by the number of menu items offered in restaurants, followed by the meat dishes and salads & sides categories, according to GlobalData’s menu intelligence database. According to GlobalData’s menu analysis of the hot drinks category in Hong Kong report, the hot drinks category constitutes a 31% share among all restaurant types in Hong Kong foodservice market. The report analyses 5,120 menu items from different foodservice outlets in Hong Kong and provides an overview of the food categories available across its foodservice channel. Buy the report here.
Hot drinks was found to be the most-used ingredient in the hot drinks category, featuring in 74% of menu items, followed by fruit and milk. Honey and nuts & seeds were also significant ingredients.
An analysis of the annual price change between 2022 and 2023 indicates that the average menu prices in the hot drinks category have dropped by 0.28%. As on-premises dining gains momentum following the COVID-19 pandemic, the hot drinks category in Hong Kong is expected to experience overall growth.
Different categories exhibited mixed price movements within Hong Kong foodservice market between 2022 and 2023. Of all the categories, the alcoholic drinks category exhibited the highest price increase, while hot drinks experienced a maximum price decrease.
An in-depth analysis of the hot drinks category price trend by location reveals consumption trends of each region. The graph below represents the change in hot drinks category menu prices during 2021-2023 across the top five locations. As seen below, hot drinks category menu items in Kowloon-City became more affordable as compared to West-Kowloon and Hong Kong(Hong Kong).
While consumers become more price conscious, operators look for ways to optimize their costs to retain margin and market share. In Hong Kong market, restaurants operators rely on innovation as a crucial tactic to appeal to customers as well as optimize costs. As increasing number of consumers seek novel experiences, foodservice operators must continuously innovate their menu choices, providing superior taste and quality along with a diverse selection of dishes. Operators should highlight the distinctive tastes and flavours of their food and beverage offerings in a convenient format to enhance customer engagement.
To further understand and explore GlobalData’s insight into Hong Kong category menu, buy the report here.