Country Profile: Dairy & Soy Food Sector in Singapore

2017-08-11
Price :
Published : Aug-2017
No. of Pages : 144

Country Profile: Dairy & Soy Food Sector in Singapore

Summary

Singaporean Dairy & Soy Food sector accounted for a volume share of 0.1% of the global market and 0.25% of the regional (Asia-Pacific) market in 2016. The sector is forecast to grow at a CAGR of 5.6% during 2016-2021. Increasing disposable income and growing health consciousness among consumers are the key growth drivers for the sector. Per capita consumption of Dairy & Soy Food products stood at 44.8kg when compared to the global and Asia-Pacific levels of 50kg and 29.7kg, respectively, in 2016. Milk is the largest with value sales of S$585 Million (US$423.5 Million) in 2016, while the Drinkable Yogurt market is expected to record the fastest CAGR of 9% during the 2016-2021 period.

Hypermarkets & Supermarkets is the leading distribution channel in the Singaporean Dairy & Soy Food sector, accounting for a total value share of 51.6% in 2016. On-trade transactions accounted for 23.6% in the distribution of Dairy & Soy Food products in Singapore, in the same year. Convenience Stores and Food & Drinks Specialists accounted for shares of 14.3% and 5.3% shares, respectively in 2016. Paper & Board is the most commonly used packaging material in the Singaporean Dairy & Soy Food sector. In 2016, it accounted for a volume share of 43.7%, followed by Rigid Plastics and Rigid Metal with shares of 27.1% and 18.7% respectively.

Health & Wellness attributes such as ‘Food Intolerance’ and ‘Naturally Healthy’ and consumer benefits such as ‘General Wellbeing’ and ‘Weight & Shape Management’ are the most sought after Health & Wellness claims in the Singaporean Dairy & Soy Food sector. Consumption of Dairy & Soy Food is high among the female population, and also among those who have received tertiary education. In terms of consumption by age group, Older Consumers and Older Young Adults together accounted for a 39.5% share in 2016.

Meiji is the leading brand in the Singaporean Dairy & Soy Food sector. The top five brands in the sector accounted for 26.2% value share, while private labels held 8.2% share by value in 2016.

The report “Country Profile: Dairy & Soy Food Sector in Singapore” provides insights on high growth markets to target, trends in the usage of packaging materials, category level distribution channel data and market share of brands.

In particular, this report provides the following –
- Market data: Overall market value and volume data with growth analysis for 2011-2021. The overall market value and volume included in the report is split on the basis of On-trade and Off-trade
- Category coverage: Value and growth analysis for Butter & Spreadable Fats, Cheese, Cream, Dairy-Based & Soy-Based Desserts, Drinkable Yogurt, Fromage Frais & Quark, Milk, Soymilk & Soy Drinks, and Yogurt with inputs on individual category share within each market and the change in their market share forecast for 2016-2021
- Leading players: Market share of brands and private labels, including private label growth analysis from 2011-2016
- Distribution data: Percentage of sales within each market through distribution channels such as On-trade, Cash & Carries and warehouse Clubs, Hypermarkets & Supermarkets, Convenience Stores, Food & Drinks Specialists, eRetailers and others
- Packaging data: Consumption breakdown for packaging materials and container types in each market, in terms of percentage share of number of units sold. Packaging material data for Glass, Flexible Packaging, Paper & Board, Rigid Plastics, and others; container data for: Carton, Film, Bag/Sachet, Tub, Wrapper, Bottle, and Tube.

Companies mentioned in this report: Lurpak, Scs, Golden Churn, Anchor, Président, Kerrygold, Westgold, Buttercup, Olive Grove, Naturel, Snow Brand, Table Lands, Flora, Arla, Castello, Finello, Mainland, Perfect Italiano, Kraft, Smilla Food, Cowhead, The Laughing Cow, Chesdale, Galbani, Philadelphia, Singles, Velveeta, Parmareggio, Bulla.

Scope

- Of the eight markets, Milk is the largest market by value in 2016.
- The per capita consumption of Dairy & Soy Food is higher in Singapore compared to the regional level
- Drinkable Yogurt market is expected to record the fastest growth during 2016-2021
- Hypermarkets & Supermarkets is the leading distribution channel in the Singaporean Dairy & Soy Food sector
- Meiji is the leading brand by both value and volume in 2016
- Paper & Board is the most commonly used packaging material in the Singaporean Dairy & Soy Food sector.

Reasons to buy

- Identify high potential categories and explore further market opportunities based on detailed value and volume analysis
- Existing and new players can analyze key distribution channels to identify and evaluate trends and opportunities
- Gain an understanding of the total competitive landscape based on detailed brand share analysis to plan effective market positioning
- Manufacturers can identify the opportunities to position products with H&W attributes/benefits
- Access the key and most influential consumer trends driving Dairy & Soy Food products consumption, and how they influence consumer behavior in the market which will help determine the best audiences to target
- Our team of analysts have placed a significant emphasis on changes expected in the market that will provide a clear picture of the opportunities that can be tapped over the next five years, resulting in revenue expansion
- The packaging analysis report helps manufacturers, in identifying the most commonly used packaging materials in the sector
- Analysis on key macro-economic indicators such as GDP per capita, population (overall and breakdown by age), and consumer price index. It also covers a comparative analysis of political, economic, socio-demographic, and technological indicators (PEST) across 50 countries.

Filed in: Food & Beverage
Publisher : GlobalData
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