Across the forecast period, the retail channel will face challenges from the growing "sober-curious" culture, which is being driven by the health and wellness trend. This trend is leading consumers to explore a more mindful approach to drinking, challenging retail volume sales.
The strongest value growth over the forecast period is set to come from other fine wines and fine wines aligned with consumers' rising knowledge and interest in different wine products. Wine appreciation classes and courses through the Wine and Spirit Education Trust (WSET) are popular in Singapore, and this will increase consumer choices and encourage them to move towards fine wines.
Across the forecast period, growth for premium spirits will be positively impacted by the trend of seeking and enjoying new experiences, including flavour experiences and mixology, which will benefit the sales of premium drinks. The concept of being seen with "Status spirits" will continue to benefit premium option, while other luxury spirits and luxury whiskies will lead growth on the spirits landscape.
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Understand the latest market trends and future growth opportunities for the Fine Wines/Champagne and Spirits industry in Singapore with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
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Fine Wines/Champagne and Spirits
This is the aggregation of fine wines and luxury spirits.
See All of Our DefinitionsThis report originates from Passport, our Fine Wines/Champagne and Spirits research and analysis database.
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