Singapore Wine Market Forecast 2023-2030

The Singapore wine market is predicted to register a CAGR of 5.77% in terms of revenue and 2.72% in terms of volume during the forecast period, 2023-2030. The Singapore wine market growth is attributed to the increasing consumer interest in wine, rising disposable incomes, and a growing expatriate population.

MARKET INSIGHTS

Singapore has emerged as a key hub for wine distribution and consumption in Southeast Asia, with a robust infrastructure that includes wine bars, restaurants, and retail outlets. Also, Singaporean consumers are becoming more sophisticated in their wine preferences, favoring quality over quantity. There is a growing interest in organic, biodynamic, and sustainable wines, reflecting the broader global trend towards eco-conscious consumption.

Further, wine is distributed through a variety of channels, including supermarkets, specialty wine stores, online retailers, and hospitality establishments. E-commerce platforms have gained prominence, offering consumers a convenient way to explore a diverse range of wines and access educational resources.

Moreover, Singapore's wine market is known for its favorable regulatory environment, characterized by low import duties and minimal trade restrictions. The Singaporean government actively supports the wine industry by promoting wine-related events and initiatives. Similarly, there are significant opportunities for wine producers, importers, and distributors to capitalize on the growing demand for premium and unique wine offerings.

COMPETITIVE INSIGHTS

Some of the eminent companies in the market are: Hock Tong Bee Pte Ltd, Makoto-Ya Pte Ltd, Bacardi-Martini Singapore Pte Ltd, etc.

Our report offerings include:

Explore key findings of the overall market
Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
Market Segmentation caters to a thorough assessment of key segments with their market estimations
Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
Key analytics: Porter's Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
The competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments

Product Code: 70323

1. RESEARCH SCOPE & METHODOLOGY

1.1. STUDY OBJECTIVES
1.2. METHODOLOGY
1.3. ASSUMPTIONS & LIMITATIONS

2. EXECUTIVE SUMMARY

2.1. MARKET SIZE & ESTIMATES
2.2. COUNTRY SNAPSHOT
2.3. COUNTRY ANALYSIS
2.4. SCOPE OF STUDY
2.5. CRISIS SCENARIO ANALYSIS
- 2.5.1. IMPACT OF COVID-19 ON WINE MARKET

3. MARKET DYNAMICS

3.1. KEY GROWTH ENABLERS
- 3.1.1. SURGING DEMAND DUE TO WINE PREMIUMIZATION
- 3.1.2. HIGH PENETRATION OF ONLINE CHANNELS BOOSTS WINE SALES
- 3.1.3. AWARENESS REGARDING HEALTH BENEFITS ASSOCIATED WITH WINE CONSUMPTION
3.2. KEY CHALLENGES
- 3.2.1. HEALTH LABELLING REGULATIONS
- 3.2.2. SMALL & COMPETITIVE WINE LANDSCAPE

4. KEY ANALYTICS

4.1. KEY MARKET TRENDS
4.2. PEST ANALYSIS
4.3. PORTER'S FIVE FORCES ANALYSIS
- 4.3.1. BUYERS POWER
- 4.3.2. SUPPLIERS POWER
- 4.3.3. SUBSTITUTION
- 4.3.4. NEW ENTRANTS
- 4.3.5. INDUSTRY RIVALRY
4.4. OPPORTUNITY MATRIX
4.5. VALUE CHAIN ANALYSIS
4.6. KEY BUYING CRITERIA
4.7. MARKET SHARE ANALYSIS, 2021 & 2022 (IN %)
4.8. BRAND SHARE ANALYSIS, 2021 & 2022 (IN %)

5. MARKET BY PRODUCT (IN TERMS OF REVENUE: $MILLION & IN TERMS OF VOLUME: MILLION LITERS)

5.1. FORTIFIED WINE AND VERMOUTH
- 5.1.1. PORT
- 5.1.2. SHERRY
- 5.1.3. VERMOUTH
- 5.1.4. OTHER FORTIFIED WINE
5.2. NON-GRAPE WINE
- 5.2.1. APPLE WINE
- 5.2.2. OTHER NON-GRAPE WINE
5.3. SPARKLING WINE
- 5.3.1. CHAMPAGNE
- 5.3.2. OTHER SPARKLING WINE
5.4. STILL LIGHT GRAPE WINE
- 5.4.1. STILL RED WINE
- 5.4.2. STILL ROSE WINE
- 5.4.3. STILL WHITE WINE

6. MARKET BY TRADE (IN TERMS OF REVENUE: $MILLION & IN TERMS OF VOLUME: MILLION LITERS)

6.1. OFF-TRADE
6.2. ON-TRADE

7. MARKET BY PRICE RANGE - SPARKLING WINE

8. MARKET BY PRICE RANGE - STILL RED WINE

9. MARKET BY PRICE RANGE - STILL ROSE WINE

10. MARKET BY PRICE RANGE - STILL WHITE WINE

11. COMPETITIVE LANDSCAPE

11.1. KEY STRATEGIC DEVELOPMENTS
- 11.1.1. ACQUISITIONS
- 11.1.2. PRODUCT LAUNCHES & DEVELOPMENTS
- 11.1.3. PARTNERSHIPS
- 11.1.4. BUSINESS EXPANSIONS
11.2. COMPANY PROFILES
- 11.2.1. BACARDI-MARTINI SINGAPORE PTE LTD
- 11.2.2. HOCK TONG BEE PTE LTD
- 11.2.3. MAKOTO-YA PTE LTD
- 11.2.4. MAYBEV PTE LTD
- 11.2.5. TREASURY WINE ESTATES LTD