The wine consumption per capita in Singapore was standing at 0.29 liters of pure alcohol in 2023. Based on the forecasted data, there is a steady consumption pattern with a minimal increase expected over the next five years. From 2024 to 2026, the consumption is forecasted to remain at 0.3 liters. A slight increase is projected for 2027 and 2028, raising the consumption to 0.31 liters. The year-on-year variation indicates a stable consumption trend with a marginal growth of approximately 3.33% from 2026 to 2027 and zero percent from 2027 to 2028. The compounded annual growth rate (CAGR) over the five-year period from 2024 to 2028 is minimal, almost negligible.
Future trends to watch for include:
- Possible influence of changing consumer preferences and health trends.
- Impact of economic factors and disposable income on premium wine consumption.
- Government regulations and import duties affecting price and availability.
- Potential growth in wine tourism and local wine culture development.
