Singapore: Gin And Geneva Market 2024

Gin And Geneva Market Size in Singapore

In 2022, the Singaporean gin and geneva market decreased by -11% to $X, falling for the third year in a row after two years of growth. Overall, consumption, however, recorded a strong increase. Gin and geneva consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Gin And Geneva Production in Singapore

In value terms, gin and geneva production reduced to $X in 2022 estimated in export price. In general, production, however, posted significant growth. The most prominent rate of growth was recorded in 2018 with an increase of 1,849% against the previous year. Gin and geneva production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Gin And Geneva Exports

Exports from Singapore

In 2022, the amount of gin and geneva exported from Singapore surged to X litres, growing by 31% compared with the year before. In general, exports enjoyed a strong expansion. The pace of growth appeared the most rapid in 2016 when exports increased by 89%. As a result, the exports attained the peak of X litres. From 2017 to 2022, the growth of the exports remained at a lower figure.

In value terms, gin and geneva exports surged to $X in 2022. Over the period under review, exports showed a resilient expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Taiwan (Chinese) (X litres), Malaysia (X litres) and Australia (X litres) were the main destinations of gin and geneva exports from Singapore, with a combined 56% share of total exports. Thailand, Vietnam, China, Indonesia, the Netherlands, New Zealand, the Philippines, Hong Kong SAR and India lagged somewhat behind, together accounting for a further 37%.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of +109.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for gin and geneva exported from Singapore were Malaysia ($X), Taiwan (Chinese) ($X) and Thailand ($X), together accounting for 52% of total exports. Vietnam, Indonesia, Australia, China, the Philippines, New Zealand, Hong Kong SAR, India and the Netherlands lagged somewhat behind, together accounting for a further 40%.

The Netherlands, with a CAGR of +108.1%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average gin and geneva export price amounted to $X per litre, picking up by 28% against the previous year. Overall, export price indicated moderate growth from 2012 to 2022: its price increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, gin and geneva export price increased by +34.3% against 2019 indices. The most prominent rate of growth was recorded in 2017 an increase of 55% against the previous year. The export price peaked in 2022 and is likely to continue growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Indonesia ($X per litre), while the average price for exports to Taiwan (Chinese) ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Thailand (+10.7%), while the prices for the other major destinations experienced more modest paces of growth.

Gin And Geneva Imports

Imports into Singapore

In 2022, supplies from abroad of gin and geneva increased by 14% to X litres for the first time since 2019, thus ending a two-year declining trend. Overall, total imports indicated a notable expansion from 2012 to 2022: its volume increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2016 when imports increased by 32%. Imports peaked at X litres in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, gin and geneva imports skyrocketed to $X in 2022. In general, imports recorded prominent growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, the UK (X litres) constituted the largest supplier of gin and geneva to Singapore, accounting for a 60% share of total imports. Moreover, gin and geneva imports from the UK exceeded the figures recorded by the second-largest supplier, Japan (X litres), threefold. The United Arab Emirates (X litres) ranked third in terms of total imports with a 3.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the UK totaled +1.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+147.2% per year) and the United Arab Emirates (-1.8% per year).

In value terms, the UK ($X) constituted the largest supplier of gin and geneva to Singapore, comprising 52% of total imports. The second position in the ranking was taken by Japan ($X), with a 20% share of total imports. It was followed by France, with a 3.8% share.

From 2012 to 2022, the average annual growth rate of value from the UK amounted to +5.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+140.6% per year) and France (+37.9% per year).

Import Prices by Country

In 2022, the average gin and geneva import price amounted to $X per litre, increasing by 43% against the previous year. Over the period under review, import price indicated a buoyant increase from 2012 to 2022: its price increased at an average annual rate of +6.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, gin and geneva import price increased by +50.8% against 2018 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Australia ($X per litre), while the price for Vietnam ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+12.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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