Top Growth Opportunities: Wine in Singapore

2018-01-24
Price :
Published : Jan-2018
No. of Pages : 97

Top Growth Opportunities: Wine in Singapore

Summary

“Top Growth Opportunities: Wine in Singapore”, provides recommended actions and detailed analysis of how to target the best growth opportunities for wine producers and retailers. Readers can understand what categories, channels, companies, and consumers will drive the success of wine market in Singapore through GlobalData’s detailed and robust data, expert insight, and case studies.

GlobalData’s Top Growth Opportunity reports use a risk versus reward opportunity model to identify the best growth markets for wine producers. Through this in-depth study of market and category dynamics, readers are able to identify key opportunities, and what they need to do in order to target them.

Singapore’s economy grew by 5.2% in Q3 2017, the fastest in almost 4 years. Unemployment rates are low in Singapore, falling to 2.1% in September 2017, down 0.1% from the start of the year. This, combined with a rise in incomes, should filter through to stronger domestic spending looking ahead to 2018. Strong economic growth is leading to considerable affluence among consumers in Singapore, which in turn is driving the demand for wine products, especially premium wine. Moreover, there is a growing trend of collecting vintage wines which is also aiding the growth of the sector. Foreign wine producers should look to capitalize on this premiumization movement by introducing luxury premium wine offerings into the market. International winemakers control a significant share of the market, capitalizing on the lack of domestic winemakers in the nation.

Scope

– The Singaporean wine market was valued at over US$1 billion in 2016 and is forecast to grew at a CAGR of 5.4% between 2016-2021.
– The market will grow to over US$1.4 billion by 2021.
– Treasury Wine Estates Vintners Limited is the largest wine producer in Singapore with over a 6% share of the market, in volume terms, as of 2016.

Reasons to buy

– This report brings together consumer analysis and market data to provide actionable insight into the behavior of Singapore’s wine consumers.
– This is based on GlobalData’s unique consumer data, developed from extensive consumption surveys and consumer group tracking, which quantifies the influence of 20 consumption motivations in the wine sector.
– Category, brand, and packaging dynamics are also examined. This allows product and marketing strategies to be better aligned with the leading trends in the market.

Filed in: Alcoholic Beverages, Food & Beverage
Publisher : GlobalData
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