Singapore: Grape Wine Spirits Market 2024

Grape Wine Spirits Market Size in Singapore

In 2022, the Singaporean grape wine spirits market was finally on the rise to reach $X for the first time since 2019, thus ending a two-year declining trend. In general, consumption saw a strong expansion. Grape wine spirits consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Grape Wine Spirits Production in Singapore

In value terms, grape wine spirits production soared to $X in 2022 estimated in export price. In general, production, however, showed a sharp reduction. The most prominent rate of growth was recorded in 2014 with an increase of 125% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Grape Wine Spirits Exports

Exports from Singapore

In 2022, approx. X litres of spirits obtained from distilled grape wine or grape marc were exported from Singapore; dropping by -26.4% compared with the previous year. In general, exports showed a noticeable slump. The pace of growth was the most pronounced in 2021 with an increase of 19% against the previous year. The exports peaked at X litres in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, grape wine spirits exports rose slightly to $X in 2022. The total export value increased at an average annual rate of +3.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 when exports increased by 46% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in years to come.

Exports by Country

China (X litres) was the main destination for grape wine spirits exports from Singapore, accounting for a 60% share of total exports. Moreover, grape wine spirits exports to China exceeded the volume sent to the second major destination, Vietnam (X litres), sixfold. The third position in this ranking was taken by Hong Kong SAR (X litres), with a 5.8% share.

From 2012 to 2022, the average annual growth rate of volume to China was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (-11.9% per year) and Hong Kong SAR (-9.8% per year).

In value terms, China ($X) remains the key foreign market for spirits obtained from distilled grape wine or grape marc exports from Singapore, comprising 60% of total exports. The second position in the ranking was taken by Vietnam ($X), with a 13% share of total exports. It was followed by Taiwan (Chinese), with a 5.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value to China amounted to +7.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+0.7% per year) and Taiwan (Chinese) (-2.5% per year).

Export Prices by Country

The average grape wine spirits export price stood at $X per litre in 2022, with an increase of 41% against the previous year. Over the period under review, export price indicated a resilient increase from 2012 to 2022: its price increased at an average annual rate of +7.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, grape wine spirits export price increased by +33.1% against 2019 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($X per litre), while the average price for exports to Australia ($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 Vietnam (+14.3%), while the prices for the other major destinations experienced more modest paces of growth.

Grape Wine Spirits Imports

Imports into Singapore

In 2022, the amount of spirits obtained from distilled grape wine or grape marc imported into Singapore declined sharply to X litres, which is down by -15.6% on 2021. Over the period under review, imports saw a pronounced setback. The most prominent rate of growth was recorded in 2018 with an increase of 12% against the previous year. As a result, imports reached the peak of X litres. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, grape wine spirits imports soared to $X in 2022. Overall, total imports indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +65.6% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 37%. Over the period under review, imports attained the peak figure in 2022 and are likely to continue growth in the near future.

Imports by Country

In 2022, France (X litres) was the main supplier of grape wine spirits to Singapore, with a 92% share of total imports. Moreover, grape wine spirits imports from France exceeded the figures recorded by the second-largest supplier, India (X litres), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from France totaled -2.5%.

In value terms, France ($X) constituted the largest supplier of spirits obtained from distilled grape wine or grape marc to Singapore, comprising 93% of total imports. The second position in the ranking was taken by India ($X), with a 1.7% share of total imports.

From 2012 to 2022, the average annual growth rate of value from France amounted to +3.8%.

Import Prices by Country

In 2022, the average grape wine spirits import price amounted to $X per litre, picking up by 44% against the previous year. Overall, the import price continues to indicate a strong expansion. As a result, import price attained 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 France ($X per litre), while the price for India stood at $X per litre.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+23.8%).

Source: IndexBox Platform

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