Product Code: CS0066TG
Among the world's top ten wine markets, Singapore ranks third in terms of per capita expenditure, below Australia and Canada. Furthermore, the per capita expenditure on wine products in Singapore is expected to grow at a CAGR of over 4% during 2016-2021. The growth is primarily attributed to the high disposable incomes enjoyed by Singaporeans, coupled with their high affinity and willingness to spend more on premium wine products, imported from Australia, France and Chile.
Singaporean wine market recorded strong growth at a CAGR of about 5.5% during 2011-2016, growing from over US$824 Million in 2011 to more than US$1 Billion in 2016. With taxes on imported wines having been increased in 2014, tourists may find Singapore to be one of the more expensive places to buy wine products. However, lower sales to tourists will be offset by sales to Singaporeans in the wine sector, which will benefit from the more favorable SGD$ to USD$ exchange rate. Hence, the Singaporean wine market is expected to maintain growth, at a CAGR of about 5.4%during 2016-2021, to reach around US$1.4 Billion by 2021.
A growing economy supported by a large population-base of mid-lifers is expected to have a positive influence on the wine sector; however, this is tempered by a dependant aging population.
The report "Top Growth Opportunities: Wine in Singapore", provides recommended actions and detailed analysis of how to target the best growth opportunities for wine producers and retailers. Readers can understand what categories, channels, companies, and consumers will drive the success of wine market in Singapore through our detailed and robust data, expert insight, and case studies.
- The Singaporean wine market was valued at over US$1 billion in 2016 and is forecast to grew at a CAGR of 5.4% between 2016-2021.
- The market will grow to over US$1.4 billion by 2021.
- Treasury Wine Estates Vintners Limited is the largest wine producer in Singapore with over a 6% share of the market, in volume terms, as of 2016.
Reasons to buy
- This report brings together consumer analysis and market data to provide actionable insight into the behavior of Singapore's wine consumers.
- This is based on GlobalData's unique consumer data, developed from extensive consumption surveys and consumer group tracking, which quantifies the influence of 20 consumption motivations in the wine sector.
- Category, brand, and packaging dynamics are also examined. This allows product and marketing strategies to be better aligned with the leading trends in the market.
Table of Contents
- 1. Introducing a top growth market for wine
- Top 10 global growth opportunities scores
- Top global issues
- Assessment against global strategic issues
- GlobalData's strategic issues map
- Predicted future issues for the global sector
- Reward and risk assessment
- Opportunity score - overview
- Political, Economic, Social, and Technological: Analysis
- Consumer spending trends - peer group comparisons
- Enablers and inhibitors of growth
- Rewards and opportunities for growth
- Summary of the market
- 2. Market insight - identifying the opportunities to move into
- Market growth by category
- Value growth of the market
- Volume growth of the market
- Level of premiumization by category
- Category analysis - key drivers of change
- 3. Retail and distribution insight - key channels and retailers driving growth
- Wine retail channel share
- Key Retail Channel trends
- Routes to market
- Drivers of change in the sector
- 4. Company and brand insight - the competitive landscape defined
- Category fragmentation
- Company and brand strength
- International and domestic brand analysis
- Company and brand strength summary
- 5. Consumer insight - who, what, when, where and why
- Strategic issues map
- Key consumers trends
- Consumer groups
- Key Health & Wellness trends
- Consumer trends summary
- 6. Product and packaging insights
- Key Product Insights
- Trends and strategic issues - other notable product trends
- Key product innovation case studies
- Key Packaging Insights
- Trends and strategic issues
- Product launch key takeouts
- 7. White spaces and innovation opportunities - space to move into
- Growth segments to target
- Consumer spaces to target
- Segment opportunities
- Product launch key takeouts
- Key recommendations
- 8. Appendix and Definitions
List of Tables
- Visualization of 10 countries growth opportunities
- Visualization of 10 countries growth opportunities (continued)
- Singaporean wine reward and risk assessment
- Singaporean wine market value and split, 2011-2021
- Winners and losers by category, value, 2016-2021
- Volume growth by category, 2011-2021
- Winners and losers by category, volume, 2016-2021
- Key consumption volume shares by consumer group, 2016
- Top categories by volume and CAGR, 2011-2016