Alcoholic drinks records slower volume growth in 2013
Alcoholic drinks posted slower volume growth in 2013 compared to the review period average. Although Singapore experienced healthy economic growth in 2013, its currency was quite strong compared to other currencies. With high taxation imposed on alcohol in Singapore, this factor resulted in the price of alcoholic drinks being less appealing. This was observed, in particular, through on-trade.
Increasing consumption level of alcoholic drinks among female consumers
According to the report published by Ministry of Manpower, Singapore women showed the highest labour participation rate than ever before in 2013. With the rising affluence, female consumers were increasingly observed on the social drinking scene and willing to purchase alcoholic drinks. Thus, the products, preferred by female consumers such as cider/perry, weissbier/wiezen/wheat beer and flavoured/mixed lager registered the strongest performances in 2013.
Asia Pacific Breweries Limited continues to lead alcoholic drinks in 2013
Asia Pacific Breweries Limited led alcoholic drinks in 2013. The company’s strength is attributed to strong brand recognition such as Tiger, Heineken, Baron’s Strong Brew, and Guinness, which ranked as first, third, fourth and fifth respectively in total volume shares. The strong brand equity and extensive distribution network continued to support the company’s performance. However, the company’s volume shares showed a constant decline over the review period due to the severe competitive environment in alcoholic drinks.
Supermarkets leads sales through off-trade in 2013
Supermarkets continued to lead the off-trade distribution channel with over half off-trade volume shares in 2013. Supermarkets is conveniently located across the island and provides a competitive price. In order to maintain its competitiveness, the channel accommodates greater shelf space for alcoholic drinks, where consumers also find snacks and nibbles close to the shelf of alcoholic drinks. The convenience, accessibility and wide range of products available are the key factor to maintain the sales of supermarkets.
Healthy volume growth forecast for alcoholic drinks
Alcoholic drinks is expected to post positive total volume growth over the forecast period. Healthy volume growth is attributed to the expected positive economy growth in Singapore. With such, local consumers are anticipated to benefit from greater disposable incomes and willing to spend more when drinking out due to high spending power. Additionally, the number of tourists is expected to grow further over the forecast period due to the popular tourist destination and hub city in South East Asia region. These factors are likely to give a positive impact to the performance in alcoholic drinks in Singapore over the forecast period.
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The Alcoholic Drinks in Singapore market research report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volumes and values, company and brand market shares
- Five year forecasts of market trends and market growth
- Production, imports by origin, exports by destination
- Robust and transparent market research methodology, conducted in-country
Our market research reports answer questions such as:
- What is the market size of Alcoholic Drinks in Singapore?
- What are the major brands in Singapore?
- Have there been any alcoholic drinks legislative changes over the past 12 months?
- How is the alcoholic drinks industry affected by the recession?
- What is consumed more; beer, wine or spirits?
- What have been the key trends seen in new product developments?
- Do alcoholic drinks consumers want value for money or added value?
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This industry report originates from Passport, our Alcoholic Drinks market research database.