PROSPECTS AND OPPORTUNITIES
Positive retail value growth as many consumers favour a quality-over-quantity approach
Across the forecast period, the retail channel will face challenges from the growing "sober-curious" culture, which is being driven by the health and wellness trend. This trend is leading consumers to explore a more mindful approach to drinking, challenging retail volume sales.
Fine wine is set to led retail growth as consumers' product knowledge rises
The strongest value growth over the forecast period is set to come from other fine wines and fine wines aligned with consumers' rising knowledge and interest in different wine products. Wine appreciation classes and courses through the Wine and Spirit Education Trust (WSET) are popular in Singapore, and this will increase consumer choices and encourage them to move towards fine wines.
Flavour exploration set to boost sales of premium spirits over the forecast period
Across the forecast period, growth for premium spirits will be positively impacted by the trend of seeking and enjoying new experiences, including flavour experiences and mixology, which will benefit the sales of premium drinks. The concept of being seen with "Status spirits" will continue to benefit premium option, while other luxury spirits and luxury whiskies will lead growth on the spirits landscape.
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Overview:
Understand the latest market trends and future growth opportunities for the Fine Wines/Champagne and Spirits industry in Singapore with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Fine Wines/Champagne and Spirits industry in Singapore, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Fine Wines/Champagne and Spirits in Singapore report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Fine Wines/Champagne and Spirits in Singapore?
- Which are the leading brands in Fine Wines/Champagne and Spirits in Singapore?
- How are products distributed in Fine Wines/Champagne and Spirits in Singapore?
- How important is tourism in evaluating demand for Fine Wines/Champagne and Spirits in Singapore?
- How is the rise of e-commerce changing the retail and competitive landscape?
- How has COVID-19 and global recession impacted demand for luxury goods? What are the opportunities amidst the adversity?
- Where is future growth expected to be most dynamic?
Fine Wines/Champagne and Spirits in Singapore - Category analysis
KEY DATA FINDINGS
Fine wines drives overall growth, supported by notable events and gatherings
Moët Hennessy Diageo Singapore retains its lead through well-established brands
Limited-edition products and immersive experiences engage wealthier consumers
Positive retail value growth as many consumers favour a quality-over-quantity approach
Fine wine is set to led retail growth as consumers' product knowledge rises
Flavour exploration set to boost sales of premium spirits over the forecast period
Luxury Goods in Singapore - Industry Overview
Luxury goods in 2024: The big picture
2024 key trends
Competitive landscape
Retailing developments
What next for luxury goods?
DISCLAIMER
The following categories and subcategories are included:
Fine Wines/Champagne and Spirits
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- Fine Champagne
- Other Fine Wine
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- Luxury Brandy and Cognac
- Luxury Whiskies
- Other Luxury Spirits
Fine Wines/Champagne and Spirits
This is the aggregation of fine wines and luxury spirits.
See all of our definitionsWhy buy this report?
- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions
This report originates from Passport, our Fine Wines/Champagne and Spirits research and analysis database.
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