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제목 | 싱가포르 광수와 탄산수 시장동향(2014.8) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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작성일자: 2014.8.8 작성자: 싱가포르 무역관 Samantha Ho(samantha@kotra.or.kr)
1. Demand Trend
□ Market Trend
○ The outlook on Singapore’s consumer sector remains bright, as the outlook for the economy particularly in the long-terms remains positives. Rising wealth levels and incomes mean that local consumers will continue to spend and trade up to more premium products, driving the demand for mineral water.
○ Based on renowned research company, Euromonitor International, as of 2013, F & N Ice Mountain continues to be a popular brand in Singapore, as it is sold at an affordable price and it is known by consumers for its quality, pure drinking water. It is preferred for the fact that it is a trusted brand from a trusted company, and it has a pure, crisp taste that consumers enjoy. In particular, the report by Euromonitor states that bottled mineral water is expected to see a total volume compound annual growth rate of 3% till 2017 as consumers in Singapore continue to demand more bottled mineral water due to rising health consciousness. The convenience offered to consumers by bottled mineral water will continue to represent a major factor attracting consumers to purchase bottled mineral water. (source: Euromonitor International)
○ Food and beverage retail, including sales of mineral water currently accounts for 40 percent of retail spending in Singapore and this figure is expected to rise.
○ The main drivers of this growth are higher incomes and rising tourism levels. Additionally, there are three key drivers that are leading to high growth in certain types of products: - Premiums: Higher levels of income mean that Singaporeans are becoming more willing to purchase value-added beverage at a premium. - Food and Beverage Accountability: Singapore consumers are becoming more aware of health and safety issues. Due to this, food and beverage items that are packaged and labelled with nutritional information, as well as healthier products, are experiencing higher demand. - Urbanization: Singaporeans are living increasingly busy lifestyles and are having less time available for food and beverage preparation. This is leading to higher demand for convenience food and beverage products.
□ Market Size ○ Inferring from the total trade data obtained from Statlink, IE Singapore, the market Size of mineral water, is approximately valued at S$26.3 million in 2013.
(Value in S$ Thousand)
Source: Statlink, International Enterprise, Singapore
○ It is apparent that based on these data, the market size has slipped from the peak of S$41.1 million attained in year 2011.
□ Population Profile and Growth
○ From the demographics, Singapore’s total population stood at 5.40 million as at as at 2013 (source: Singapore Department of Statistics). The total population expanded by 1.6% compared to a year ago, due to increased number of citizens and non-residents. Singapore’s population grew at a rate of approximately 3.5% between 2005 and 2010, and 2.5% in 2012. Immigration will remain the key driver of population growth, which will drive demand for food items.
○ Singapore has an ageing population which remains very price sensitive when making consumers goods purchases, including health food.
* Total population comprises Singapore residents and non-residents. Resident population comprises Singapore citizens and permanent residents. Non-resident population comprises foreigners who were working, studying or living in Singapore but not granted permanent residence, excluding tourists and short-term visitors.
□ Income Trend
○ Market research source Business Monitor International(BMI) continues to maintain positive outlook for Singapore’s consumer sector, which is in line with rising wealth levels and incomes. Private consumption is forecasted to grow by a solid 3.5% in 2013.
○ BMI forecasts on consumer spending per capita in Singapore growing from US$15,656 in 2010 to US$20,240 by 2014, while total retail sales will grow from a forecast of US$32.63 billion in 2011 to US$38.92 billion by 2015.
○ The Singapore economy grew by 4.9% on a year-on-year basis in the first quarter of 2014, similar to the rate of growth achieved in the previous quarter. On a quarter-on-quarter seasonally-adjusted annualized basis, the economy grew by 2.3%, moderating from the 6.9% growth in the preceding quarter.
○ Against uncertainties in the global macroeconomic environment, the Singapore economy is expected to grow at a modest pace in 2014. In tandem with the gradual improvement in the global economy, externally-oriented sectors such as manufacturing and wholesale trade are likely to provide support to growth. Domestically-oriented sectors such as business services are also expected to remain stable. However, continuing tightness in the labour market is expected to weigh on growth in some labour-intensive sectors. Taking these factors into consideration, the 2014 growth forecast for the Singapore economy is maintained at 2.0 to 4.0%.
○ Median monthly household income from work increased from $7,570 in 2012 to $7,870 in 2013, a 4.0% growth in nominal terms, or 1.6% in real terms. Over the last 5 years from 2008 to 2013, the median monthly household income from work of resident employed households rose by 11% in real terms.
○ Taking household size into account, median monthly household income from work per household member rose by 5.6% in nominal terms, or 3.2% in real terms in 2013.
2. Import Trend and Import Tariffs
□ Import Statistics
Annual Report For Imports Product: Mineral Water and Aerated Water not flavoured or sweetened (HS Code 220110) (Unit: S$ Thousand)
Source: Statlink, International Enterprise, Singapore
○ According to annualized statistics from International Enterprise, Singapore*, imports of Mineral Water, Aerated water not flavoured or sweetened recorded decline from 2011. The declines were recorded at 27.2% and 12.9% in 2012 and 2013 respectively. Supplies from Korea continued to register small volume of transaction. With no major shift/change in anticipated demand in Singapore domestic market, assuming the competing product mix is constant, the prospect and overall demand trend of mineral water is likely to change marginally.
□ Import Tariff
○ Tariffs or duties are not imposed on most imported goods including mineral water, in Singapore. There are four broad categories of dutiable goods in Singapore - intoxicating liquors, tobacco products, motor vehicles and petroleum products.
○ 7% Goods and Service Tax (GST) is levied on all transactions of imports, including pneumatic solenoid valve. The GST is calculated on the CIF (Cost, Insurance, Freights) value of the goods, plus commission, and other incidental charges. Goods that are re-exported are eligible for a GST refund from the government authority.
Source: Singapore Customs
3. Competitive Trend
○ The preferred brands of mineral water in Singapore market are: - Pere Ocean - F &N Ice Mountain - Perrier - Evian - Volvic - Vittel - House brands
○ One of the market leading mineral water companies in Singapore, Wanin Industries Pte Ltd, is noted for delivering more than 100,000 litres of water to homes and offices in Singapore and Malaysia on a daily basis. It produces its own fresh natural mineral water from its own natural source, set in green and clean environment in Malaysia.
○ Besides bottles of 300mL, 500mL, 550 mL, 600mL and 1.0 litres of mineral water, the company markets 10 litres and 19 litres of mineral water for the dispenser, and private labeling of bottled mineral water. Branded as Pere Ocean Natural Mineral Water, the product is cleansed deep within the earth by natural filtration, taking on the natural minerals from its sources, drawn from 300 feet deep underground springs of the natural reserves. The subsequent through modern filtration and purification technology is to retain its quality and freshness at 2 facilities located in Malaysia. Containing a high level of natural minerals, it attributes and benefits nclude antibacterial and antifungal properties.Pere Ocean has been singled out as Singapore’s favorite mineral/distilled water, in a survey conducted by AC Nielsen., and is positioned as a health and lifestyle drink and aims to differentiate Pere Ocean by providing premium, quality and affordable products
○ Another leading mineral water product is F &N ICE MOUNTAIN bottled water This product is Singapore’s No.1 brand for bottled water (AC Nielson, August 2011).
○ Mineral water products from France are attributed to 4 main brands: Evian, Volvic, Vittel and Perrier:
○ These premium brands of imported mineral water such as Perrier, Volvic and Evian are considerably popular despite of higher prices by virtue of sophisticated and quality image. Private labeling of mineral water is increasingly used as an unique marketing and promotional tools – personalizing mineral water with customized labels.
○ Increasingly, the prevalence of marketing promotion activities of alkaline water ionizer system by several leading companies, has presented stiff competition to the sales of mineral water. In additions, other competing products listed as follows dilute sales of mineral water: - Bottled Water Dispenser - Direct Piping Water Dispenser - Distilled Water - Oxygenated Water - Sports Isotonic Drink - Fruitty Fruit Drink - Alcoholic Drink - Soft Drink - Diary Drink - Other Beverage such as Coffee, Tea, Cocoa drink
4. Export Trend
Annual Report For Exports Product: Mineral Water and Aerated Water not flavoured or sweetened (HS Code 220110) (Unit: S$ Thousand)
Source: Statlink, International Enterprise, Singapore
○ According to annualized statistics from International Enterprise, Singapore, exports of Mineral Water, Aerated water not flavoured or sweetened registered decline trend, amounting to 6.9% decline and 21.2% decline in 2012 and 2013 respectively.
○ Comments obtained from trade sources indicate that the abundance of supply compel exporters of mineral water to introduce other beverage products, rather than compete head-on with only mineral water. As a result, exporters have introduce beverage products such as isotonic sports drink and fruitty vitaminized drink, leading to exports of mineral water to contract. This decline trend is expected to persist, going forward.
5. Retail Pricing Trends /Distribution System
○ There is a wide range of mineral water products, which are marketed in Singapore. The price range is relatively wide, specified as follows:
Ice Mountain Water
Ice Mountain Water
Evian Mineral Water 6’S 1.5L x 6 S$ 14.30
Polar Natural Mineral Water S$10.45
Aqua Mounain Spring Water 1.5L x 12 S$ 10.45 S$ 15.20
Aquila Natural Mineral Water 600mL x 24 S$7.40
Fiji Natural Artesian Water
Perrier Mineral Water – Natural/ Lime/ Lemon 750mL x 1 S$ 3.10 Perrier Mineral Water – Natural 750mL x 12 S$ 29.50
Vittel Spring Water 1.5L x 1 S$ 2.65 FairPrice Natural Mineral Water(House brand) 550mL x 24 FairPrice Pure Drinking Water (House Brand0 1.5L x 12 S$ 5.90 FairPrice Pure Drinking Water (House Brand) 600mL x 24 S$ 6.90
Distribution System
○ The distribution of mineral water is accessible, given the absence of trade barriers. The distributor, if appointed, will be tasked with the responsibility to sell through to consumers through retail outlets which comprise mainly of supermarkets and consumer products’ convenience stores. The distribution network for mineral water covers major supermarket chains, convenience stores, petrol stations, general retail trades, on-premises outlets and institutional customers. Increasingly, online grocery retailer such as redmart and the online divisions of supermarkets such as Fairprice, Cold Storage and Giant are attracting consumers’ attention for the convenience rendered for such online purchases.
6. Quality Certification system
○ Bottled Natural Mineral Water is regulated by the Agri-Food Veterinary Authority (AVA) in Singapore. All importers of mineral water in Singapore must be registered with AVA. A permit approved by the AVA is required to accompany every consignment that is imported into Singapore.
○ In addition to complying with the standards as stipulated in the Sale of Food Act and the Food Regulations, including its labeling requirements, other requirements must be fulfilled.
○ For the importation of packaged natural mineral water and drinking water, the importers are required to submit to AVA's Quarantine &Inspection Group (QIG) the following documents:
(a) Mineral Water (including spring water and mountain spring water) (i) The original copy of the authentication certificate issued by the relevant controlling authority of the country of origin to certify that the mineral water is genuine. (ii) The certificate should indicate the brand name, type of water, packing size/type, name and address of manufacturer (iii) A site plan showing the water source
(b) Drinking Water (including distilled water, drinking water, mineralized water and reverse osmosis water etc) (i) A copy of the license of the factory where the water was processed and packaged.
(c) These documents are to be submitted to AVA (QIG) for every new brand of packaged mineral and drinking water imported by the importer before commencement of import
(d) Product label (i) Packaged drinking water must be properly labeled with the name of the product, the country of origin and the name and address of the importer in Singapore. (ii) Packaged mineral drinking water must be properly labeled with the name of the product, the country of origin, the name and address of the importer in Singapore, name and location of the source of water and the analytical composition giving characteristics to the natural mineral water.
○ In addition, natural mineral water that contains more than 1 ppm of fluoride will be required to be labeled with the words “contains fluoride” as part of, or in close proximity to the name of the product, or in an otherwise prominent position. Where the natural mineral water contains more than 1.5 ppm of fluoride, the label must contain the following statement in addition to the words “contains fluoride”: “The product is not suitable for infants and children under the age of seven years”.
(e) Health certificate (every consignment) to reflect the results of the test parameters as specified below:
7. Production Trend
○ conducted reveal there are 3 companies in Singapore which produce mineral water in Singapore, namely Field Catering & Supplies Pte Ltd, Purifier & Dispenser Industry Pte Ltd and Prolife Water Pte Ltd. In particular, leading brands such as F&N Ice Mountain and Pere Ocean are produced and bottled in Malaysia.
(Unit: S$ Thousand)
Source: Statlink, International Enterprise, Singapore
○ Based on the export data from Statlink, International Enterprise, Singapore, the total production value has declined to S$ 2.1 million in 2013. Going forward, the production volume is expected to decline, in line with the declining market size of mineral water in Singapore.
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