Executive Summary

Feb 2019
PROSPECTS
Luxury whiskies outperforms the rest of the category with its “cool” image

While fine wines/Champagne and spirits has only seen moderate value growth overall in 2018, luxury whiskies continues to see strong growth. The influx of Japanese whiskies has provided consumers with a wider range of options both through the on-trade and off-trade.

Fine champagne grows stagnant due to cheaper alternatives

Fine champagne has continued to grow in 2018, but at a slower growth rate than the overall average for fine wines/Champagne and spirits. Increasingly price-conscious consumers can now find cheaper sparkling wine substitutes from both offline and online retailers.

Internet retailing continues to see strong growth from a low base

Despite only holding a small value share in 2018 internet retailing continues to win share from the grocery retailers channel. Leading increasingly hectic lifestyles many consumers are looking for convenient retail options and with a number of wine merchants now taking an omnichannel approach with both stores and an ecommerce channel consumers are able to still make their purchase from a retailer that they trust.

COMPETITIVE LANDSCAPE
Moët Hennessy Diageo Singapore Pte Ltd leads

Moët Hennessy Diageo Singapore Pte Ltd, the local distributor for LVMH Moët Hennessy Louis Vuitton SA and Diageo Plc, continued to lead in 2017, with a strong portfolio of luxury brands that includes Moët & Chandon, Veuve Clicquot, Hennessy VSOP and Johnnie Walker Blue Label. Its high-end labels Moët & Chandon and Veuve Clicquot, in particular, are expanding their reach to general consumers by offering bundle packaging or price discounts at select times.

New entrants expected to drive growth but with increased fragmentation

As Singapore is a mature market with consumers constantly seeking “newness”, the entry of new players and brands is the main growth driver of fine wines/Champagne and luxury spirits. This is likely to lead to greater product variety but with more fragmentation over the forecast period.

Old-fashioned image negatively impacts luxury brandy and cognac

While luxury whiskies has benefited from a young and trendy image the opposite is true with luxury brandy and cognac with the category being the only one to register a decline in current value terms in 2017 and 2018. These drinks are seen as old fashioned and despite a loyal following of older consumers they are not attracting a new younger consumer base.

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Fine Wines/Champagne and Spirits in Singapore

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Overview

Discover the latest market trends and uncover sources of future market growth for the Fine Wines/Champagne and Spirits industry in Singapore with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

If you're in the Fine Wines/Champagne and Spirits industry in Singapore, our research will save you time and money while empowering you to make informed, profitable decisions.

The Fine Wines/Champagne and Spirits 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  
  • Robust and transparent market research methodology, conducted in-country

Our market research reports answer questions such as:

  • What is the market size of Fine Wines/Champagne and Spirits in Singapore?
  • What are the major brands in Singapore?
  • How dynamic is the growth of Fine Wines/Champagne and Spirits internet sales?
  • What is driving growth?

Why buy this report?

  • Gain competitive intelligence about market leaders
  • Track key industry trends, opportunities and threats
  • Inform your marketing, brand, strategy and market development, sales and supply function

Fine Wines/Champagne and Spirits in Singapore - Category analysis

HEADLINES

PROSPECTS

Luxury whiskies outperforms the rest of the category with its “cool” image
Fine champagne grows stagnant due to cheaper alternatives
Internet retailing continues to see strong growth from a low base

COMPETITIVE LANDSCAPE

Moët Hennessy Diageo Singapore Pte Ltd leads
New entrants expected to drive growth but with increased fragmentation
Old-fashioned image negatively impacts luxury brandy and cognac

CATEGORY DATA

Table 1 Sales of Fine Wines/Champagne and Spirits by Category: Value 2013-2018
Table 2 Sales of Fine Wines/Champagne and Spirits by Category: % Value Growth 2013-2018
Table 3 NBO Company Shares of Fine Wines/Champagne and Spirits: % Value 2013-2017
Table 4 LBN Brand Shares of Fine Wines/Champagne and Spirits: % Value 2014-2017
Table 5 Distribution of Fine Wines/Champagne and Spirits by Format: % Value 2013-2018
Table 6 Forecast Sales of Fine Wines/Champagne and Spirits by Category: Value 2018-2023
Table 7 Forecast Sales of Fine Wines/Champagne and Spirits by Category: % Value Growth 2018-2023

Luxury Goods in Singapore - Industry Overview

EXECUTIVE SUMMARY

Experiential and personal luxury grow moderately; luxury cars decline
Singapore put on the global map via milestone events
Personal luxury highly fragmented while Marina Bay Sands rules the hotel market
Store-based retailing remains dominant, but internet retailing sees rapid growth
Threat lies in US trade conflict; tourism push to promote luxury shopping

MARKET INDICATORS

Table 8 Number of High Net Worth Individuals (HNWI): 2013-2018

MARKET DATA

Table 9 Sales of Luxury Goods by Category: Value 2013-2018
Table 10 Sales of Luxury Goods by Category: % Value Growth 2013-2018
Table 11 Inbound Receipts for Luxury Goods by Country of Origin: Value 2013-2018
Table 12 NBO Company Shares of Luxury Goods: % Value 2013-2017
Table 13 LBN Brand Shares of Luxury Goods: % Value 2014-2017
Table 14 Distribution of Luxury Goods by Format and Category: % Value 2018
Table 15 Forecast Sales of Luxury Goods by Category: Value 2018-2023
Table 16 Forecast Sales of Luxury Goods by Category: % Value Growth 2018-2023
Table 17 Forecast Sales of Luxury Goods by Category: % Value Growth 2018-2023

SOURCES

Summary 1 Research Sources