The Singapore market accounts for nearly 2% of the Asian whiskey market size. The market registered a compound annual growth rate (CAGR) of 5.8% during 2017-22 and 16% growth over 2021. According to GlobalData’s deep-dive analysis report, Singapore whiskey market databook, scotch whisky accounted for a notable share of 97% among various whiskey segments in the market in 2022, followed by other whisk(e)y. The report also provides in-depth analysis and market forecast to 2027. Buy the report here.
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According to GlobalData’s company and brand analysis, Pernod Ricard Group, Edrington Group and William Grant & Sons held significant shares in the Singapore whiskey market in 2022. Concurrently, The Glenlivet, The Macallan and Glenfiddich led in terms of brand market share. Pernod Ricard Group had the leading market share by volume in 2022. Companies operating in the Singapore whiskey market continue to use innovation to target gaps in product offering. Continuous tracking of market size and company performance is important to help competitors capture and maximize profits.
GlobalData’s channel analysis reveals that food & drinks specialists were the key channel of purchase for whiskey, along with on trade. Also, hypermarkets & supermarkets recorded a notable growth during the COVID-19 pandemic, as consumers were forced to stay at home due to restricted movement opportunities.
Food & drinks specialists constituted the highest market share by volume in 2022. Consumers preferred this channel for its product assortment and competitive pricing. On trade was the next preferred channel in the Singapore market.
Among the top Asian markets, India accounted for the highest volume share in 2022, followed by South Korea, Singapore, Thailand, Japan, and China.
With a growing number of consumers seeking to experiment with novel products, manufacturers and brands need to constantly innovate their flavours and formulations to remain relevant and competitive. Additionally, the popularity of e-commerce has made it easier for shoppers to compare product features and offerings across different brands.
To further understand and explore GlobalData’s insight into the whiskey category and market forecast to 2027, buy the report here.
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