Bottled Water - Singapore

The Bottled Water market in Singapore has been experiencing significant growth in recent years.

Customer preferences: One of the main reasons for the growth of the Bottled Water market in Singapore is the increasing health consciousness among consumers. With a greater emphasis on leading a healthy lifestyle, consumers are opting for bottled water as a healthier alternative to sugary drinks. Additionally, the convenience factor of bottled water is also driving its popularity. Consumers are increasingly looking for on-the-go hydration options, and bottled water provides a convenient solution.

Trends in the market: One of the key trends in the Bottled Water market in Singapore is the rise in demand for premium and functional bottled water. Consumers are willing to pay a premium for bottled water that offers additional benefits such as enhanced flavors, added vitamins, or minerals. This trend is driven by the desire for a more personalized and unique drinking experience. Another trend in the market is the increasing popularity of eco-friendly packaging options. Consumers are becoming more aware of the environmental impact of plastic bottles and are actively seeking alternatives. As a result, there has been a growing demand for bottled water packaged in sustainable materials such as glass or recyclable plastics.

Local special circumstances: Singapore's hot and humid climate also plays a significant role in driving the demand for bottled water. The need to stay hydrated in such weather conditions makes bottled water a necessity for many Singaporeans. Additionally, the availability of clean tap water in Singapore is limited, further contributing to the reliance on bottled water for drinking purposes.

Underlying macroeconomic factors: The strong economic growth in Singapore has also contributed to the growth of the Bottled Water market. As consumers have more disposable income, they are willing to spend on premium bottled water options. Furthermore, the increasing urbanization and busy lifestyles in Singapore have led to a higher demand for convenient and portable hydration options, further fueling the growth of the Bottled Water market. In conclusion, the Bottled Water market in Singapore is experiencing significant growth due to increasing health consciousness, convenience, and the demand for premium and functional products. The hot climate and limited availability of clean tap water also contribute to the reliance on bottled water. The strong economy and urbanization further support the growth of the market.

Data coverage:

The data encompasses B2C enterprises. The at-home market covers retail sales via super- and hypermarkets, eCommerce, convenience stores, or similar sales channels. The out-of-home data encompasses all sales to hotels, restaurants, catering, cafés, bars, and similar hospitality service establishments. Combined numbers encompass both the at-home market and the out-of-home market. Both the at-home and the out-of-home market are valued at retail selling prices including all sales and consumption taxes.

Modeling approach:

Market sizes are determined through a Top-Down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending (e.g. consumer spending on Non-Alcoholic Drinks, consumer spending at Hotels, Restaurants etc.), and price level index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Non-Alcoholic Drinks market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.