Singapore: Beer Market 2024

Beer Market Size in Singapore

In 2022, the Singaporean beer market increased by X% to $X, rising for the seventh consecutive year after two years of decline. Over the period under review, the total consumption indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2015 indices. Over the period under review, the market hit record highs in 2022 and is likely to see gradual growth in the immediate term.

Beer Production in Singapore

In value terms, beer production expanded slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 when the production volume increased by X% against the previous year. Beer production peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Beer Exports

Exports from Singapore

In 2022, beer exports from Singapore shrank to X litres, waning by X% against the year before. Overall, exports showed a deep downturn. The growth pace was the most rapid in 2013 when exports increased by X% against the previous year. The exports peaked at X litres in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, beer exports expanded remarkably to $X in 2022. Over the period under review, exports continue to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

China (X litres), the Philippines (X litres) and Malaysia (X litres) were the main destinations of beer exports from Singapore, together comprising X% of total exports. Vietnam, Thailand, South Korea, the United Arab Emirates, Indonesia, Australia and Cambodia lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for South Korea (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for beer exported from Singapore were Thailand ($X), China ($X) and Vietnam ($X), with a combined X% share of total exports. The Philippines, Malaysia, South Korea, Indonesia, Australia, the United Arab Emirates and Cambodia lagged somewhat behind, together comprising a further X%.

South Korea, with a CAGR of X%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average beer export price amounted to $X per litre, increasing by X% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. Over the period under review, the average export prices attained the peak figure at $X per litre in 2012; afterwards, it flattened through to 2022.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Thailand ($X per litre), while the average price for exports to the United Arab Emirates ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Thailand (X%), while the prices for the other major destinations experienced mixed trend patterns.

Beer Imports

Imports into Singapore

In 2022, supplies from abroad of beer was finally on the rise to reach X litres for the first time since 2019, thus ending a two-year declining trend. In general, imports, however, recorded a slight slump. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. As a result, imports reached the peak of X litres. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, beer imports fell modestly to $X in 2022. Overall, imports, however, continue to indicate a perceptible reduction. The pace of growth was the most pronounced in 2013 when imports increased by X%. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Malaysia (X litres), Vietnam (X litres) and Mexico (X litres) were the main suppliers of beer imports to Singapore, together accounting for X% of total imports. China, India, Ireland, Japan, South Korea, Germany, the Netherlands, Belgium, the United States and Thailand lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Ireland (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest beer suppliers to Singapore were Mexico ($X), Vietnam ($X) and Malaysia ($X), together accounting for X% of total imports. Ireland, Japan, China, India, Belgium, the Netherlands, the United States, Germany, South Korea and Thailand lagged somewhat behind, together comprising a further X%.

Ireland, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average beer import price amounted to $X per litre, reducing by X% against the previous year. Over the period under review, the import price saw a mild downturn. The pace of growth was the most pronounced in 2021 when the average import price increased by X% against the previous year. Over the period under review, average import prices hit record highs at $X per litre in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Belgium ($X per litre), while the price for Malaysia ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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