Report Update Nov 1, 2024

Singapore - Wine - Market Analysis, Forecast, Size, Trends and Insights

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Singapore: Wine Market 2024

Wine Market Size in Singapore

The Singaporean wine market skyrocketed to $X in 2021, picking up by 105% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption posted buoyant growth. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Wine Exports

Exports from Singapore

After two years of decline, overseas shipments of wine increased by 38% to X litres in 2021. Over the period under review, exports saw a relatively flat trend pattern. The exports peaked at X litres in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

In value terms, wine exports soared to $X in 2021. The total export value increased at an average annual rate of +3.7% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Japan (X litres), Hong Kong SAR (X litres) and Australia (X litres) were the main destinations of wine exports from Singapore, with a combined 69% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Hong Kong SAR (with a CAGR of +18.9%), while the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), Hong Kong SAR ($X) and Australia ($X) constituted the largest markets for wine exported from Singapore worldwide, with a combined 79% share of total exports.

Hong Kong SAR, with a CAGR of +15.3%, saw 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

The average wine export price stood at $X per litre in 2021, growing by 18% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.0%. The pace of growth appeared the most rapid in 2019 when the average export price increased by 32% against the previous year. As a result, the export price reached the peak level of $X per litre. From 2020 to 2021, the average export prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (+7.7%), while the prices for the other major destinations experienced more modest paces of growth.

Wine Imports

Imports into Singapore

In 2021, after two years of decline, there was significant growth in overseas purchases of wine, when their volume increased by 96% to X litres. Overall, total imports indicated prominent growth from 2012 to 2021: its volume increased at an average annual rate of +7.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, wine imports surged to $X in 2021. In general, total imports indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +6.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Australia (X litres), France (X litres) and the United States (X litres) were the main suppliers of wine imports to Singapore, together comprising 80% of total imports.

From 2012 to 2021, the biggest increases were recorded for Australia (with a CAGR of +15.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, France ($X) constituted the largest supplier of wine to Singapore, comprising 68% of total imports. The second position in the ranking was taken by Australia ($X), with a 17% share of total imports. It was followed by Italy, with a 3.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value from France stood at +6.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (+11.7% per year) and Italy (+7.0% per year).

Import Prices by Country

In 2021, the average wine import price amounted to $X per litre, shrinking by -19.4% against the previous year. Overall, the import price continues to indicate a slight contraction. The pace of growth was the most pronounced in 2017 when the average import price increased by 10% against the previous year. The import price peaked at $X per litre in 2020, and then fell rapidly in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+2.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for wine in the world?

The countries with the highest volumes of in 2021 were the United States, France and Italy, with a combined 39% share of global consumption.

What are the largest producers of wine in the world?

The countries with the highest volumes of in 2021 were Italy, France and the United States, with a combined 46% share of global production.

What are the leading suppliers of wine to Singapore?

In value terms, Myanmar constituted the largest supplier of wine to Singapore.

What are the leading importers of wine from Singapore?

In value terms, Hong Kong SAR remains the key foreign market for wine exports from Singapore, comprising 94% of total exports. The second position in the ranking was occupied by Malaysia, with a 2.2% share of total exports. It was followed by Maldives, with a 0.4% share.

What is the average export price for wine in Singapore?

In 2021, the average wine export price amounted to $15 per litre, waning by -9.4% against the previous year.

What is the average import price for wine in Singapore?

The average wine import price stood at $1.7 per litre in 2021, falling by -56.6% against the previous year.

This report provides an in-depth analysis of the wine market in Singapore. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

FCL 564 - Wine

Country coverage:

Singapore

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Singapore
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023