The Singapore Beer Industry Association (SBIA) has unveiled a comprehensive whitepaper titled “A Brewing Success: The Contribution of the Beer Industry in Singapore.” This insightful report delves into the significant impact of the beer industry on Singapore’s economic growth, social progress, and environmental development.
The whitepaper highlights the beer industry’s substantial contribution to the economy, generating an impressive SGD 1.5 billion annually and creating 1,200 jobs. Moreover, it underscores the industry’s role in stimulating key sectors such as Food and Beverages (F&B), hospitality, and tourism.
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Through an array of surveys, focus group discussions, and interviews with key stakeholders, the report captures the multifaceted contributions of the beer industry to the nation’s economy, culture, tourism, and community life. One notable aspect is the industry’s pivotal role in fostering socialization and community building, with SBIA members actively promoting responsible consumption and environmental sustainability.
Some key findings from the whitepaper include:
- Sales Trends: A staggering 134 million litres of beer were sold in 2022, with projections indicating this volume will reach 140 million litres by 2025.
- Consumer Perceptions: 74 per cent of respondents feel that alcohol is somewhat expensive or overpriced in Singapore, leading 51 per cent to report an increase in drinking at home.
- Popularity: Beer remains Singapore’s most popular alcoholic beverage, with 75 per cent of respondents naming it as their favourite drink.
The report also provides actionable recommendations for policymakers to support a balanced and thriving beer industry in Singapore. It emphasizes the need for strategies that balance economic growth with social responsibility and environmental sustainability.
In conclusion, the SBIA whitepaper offers a detailed and well-rounded analysis of the beer industry’s vital role in Singapore’s economy and society. It serves as a valuable resource for stakeholders and policymakers aiming to harness the industry’s potential while addressing its challenges.
For more information about the whitepaper, you can find the full report here.
