Retail sales of fine wines/champagne and spirits look set to rise at a current value CAGR of 10% (2023 constant value CAGR of 8%) over 2023-2028, to amount to SGD157 million. This performance will be primarily due to the fact that alcoholic drinks tend to be regarded as an inexpensive indulgence.
Fine wines looks set to see retail sales increase at a current value CAGR of 11% (2023 constant value CAGR of 9%) over the forecast period to total SGD142 million, making it the most dynamic subcategory within fine wines/champagne and spirits. Sales will most likely increase due to more lower- and middle-income consumers starting to socialise and drink fine wines at home.
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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.
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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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