Singapore – The Future of Foodservice to 2021

2017-07-28
Price :
Published : Jul-2017
No. of Pages : 131

Singapore – The Future of Foodservice to 2021

Summary

Singapore is widely revered as an example of free-market economic success. Despite its small population of roughly 5.5 million people, it is the thirty seventh largest economy in the world. In 2016, its nominal GDP was over USD$ 290 Billion in 2016, and grew by approximately 2.0%. The country has one of the world’s lowest unemployment rates, at 2.1% in 2016. GDP per capita is over USD$ 50,000, and Singapore’s purchasing power parity value ranked fourth highest on the IMF global PPP list. This can be attributed to Singapore’s extensive trade network.

Singaporean foodservice profit sector generated a total revenue of over SGD 12 Billion (USD $8.9 Billion) in 2016. The value of the sector increased at a CAGR of 3.7% from 2014-2016, and growth is forecast to accelerate marginally to a CAGR of 3.9% during 2016-2021.

QSR channel generates the largest revenue out all profit sector channels in Singapore. In 2016, its total sales value was approximately SGD 5.4 Billion, and accounted for 43.2% of the total revenue generated in the foodservice profit sector. The channel grew at a CAGR of 3.8% between 2014 and 2016, and is forecast a marginally accelerated CAGR of 3.9% during 2016-2021.

Although over 20% of QSR outlets are owned by chain operators, which generate roughly a third of the channel revenue, the Singaporean QSR market is still relatively fragmented compared to other countries. This can be partially attributed to the large presence of hawker centres, large food courts that host a variety of independent operators and different cuisines.

At a market valuation of SGD 3.0 Billion in 2016, the FSR channel represents the second largest foodservice channel, accounting for 24.5% of the overall revenue generated within the profit sector. Between 2014 and 2016, FSR experienced the fastest value growth across the profit sector, with sales value reaching a CAGR of 4.0%. It is forecast a marginally accelerated CAGR of 4.3% during 2016-2021, retaining its position as the fastest growing channel.

Coffee and tea shop channel is the most consolidated major channel in the foodservice profit sector. Chain operators represented over 40% of the number of outlets and just fewer than 60% of the total revenue generated within the channel. However, forecasts indicate that the rate of revenue growth from independent operators will match that of chain operators.

The report “Singapore – The Future of Foodservice to 2021” provides extensive insight and analysis of the Singaporean Foodservice market over the next five years (2016-2021) and acts as a vital point of reference for operators or suppliers.

In particular, this report provides the following –
– Overview of Singapore’s macro-economic landscape: Detailed analysis of current macro-economic factors and their impact on Singapore’s foodservice market including GDP per capita, consumer price index, population growth and annual household income distribution.
– Growth Dynamics: In-depth data and forecasts of four key channels (QSR, FSR, Coffee and Tea Shops, and Pubs, Clubs and Bars) within Singapore’s foodservice market, including the value of the market, number of transactions, number of outlets and average transaction price.
– Customer Segmentation: identify the most important demographic groups, buying habits and motivations that drive out-of-home meal occasions among segments of the Singaporean population.
– Key Players: Overview of market leaders within the four major channels including business descriptions and number of outlets.
– Case Studies: Learn from examples of recent successes and failures within the Singaporean foodservice market.

Companies mentioned in this report: McDonald’s, KFC, Subway, Old Chang Kee, Ya Kun Kaya Toast, Starbucks, Toast Box, The Coffee Bean & Tea Leaf, Killiney Kopitiam

Scope

– Singapore has a particularly prominent QSR channel, accounting for 43.2% of the foodservice sector’s total sales value. The channel is relatively fragmented, primarily due to the large presence of hawker centers, each of which house a wide array of stalls selling relatively inexpensive food.
– Despite its dominance in the foodservice sector, the QSR channel is forecast to be one of the fastest rates of sales value growth during 2016-2021. Some QSR operators are beginning to position themselves as more upmarket, with higher quality menu items at a standard reminiscent of the FSR channel, and a dine-in atmosphere which is halfway between QSR and FSR.
– Over half of surveyed consumers stated that they prefer drinking alcohol at home instead of in a pub, club or bar. In addition, a third of consumers claimed to not consume alcohol. It is expected that the increasing popularity of ‘third wave coffee’, as seen in other mature foodservice markets, will result in a shift towards a greater number consumers socializing in the coffee and tea shop channel.

Reasons to buy

– Specific forecasts of the foodservice market over the next five years (2016-2021) will give readers the ability to make informed business decisions through identifying emerging/declining markets.
– Consumer segmentation detailing the desires of known consumers among all major foodservice channels (QSR, FSR, Coffee and Tea Shops, and Pubs, Clubs and Bars) will allow readers to understand the wants and needs of their target demographics.
– Relevant case studies will allow readers to learn from and apply lessons discovered by emerging and major players within Singapore’s foodservice market.

Filed in: Food & Beverage, Food Service
Publisher : GlobalData
More Reports
Title Price Buy Now

Top Growth Opportunities: Confectionery in the Czech Republic

Top Growth Opportunities: Confectionery in the Czech Republic Summary Top Growth Opportunities for Confectionery in the Czech Replublic provides recommended actions and detailed analysis of how to target the best growth opportunities for Confectionery producers and retailers. Readers can understand what categories, channels, companies, and consumers will drive the success of Confectionery markets in the Czech Republic through GlobalData's detailed and robust data, expert insight, and case studies. GlobalData's Top Growth Opportunity reports use a risk versus reward opportunity model to identify the best growth markets for Confectionery producers. Through this in-depth study of market and category dynamics, readers are able to identify key opportunities, and what they need to do in order......
$2995

Top Growth Opportunities: Confectionery in Canada

Top Growth Opportunities: Confectionery in Canada Summary Top Growth Opportunities for Confectionery in Canada provides recommended actions and detailed analysis of how to target the best growth opportunities for Confectionery producers and retailers. Readers can understand what categories, channels, companies, and consumers will drive the success of Confectionery markets in Canada through GlobalData's detailed and robust data, expert insight, and case studies. GlobalData's Top Growth Opportunity reports use a risk versus reward opportunity model to identify the best growth markets for Confectionery producers. Through this in-depth study of market and category dynamics, readers are able to identify key opportunities, and what they need to do in order to target them. Top Growth Opportun......
$2995

Top Growth Opportunities: Confectionery in the Netherlands

Top Growth Opportunities: Confectionery in the Netherlands Summary Top Growth Opportunities for Confectionery in the Netherlands provides an overview of the Confectionery market, analyzing market data, demographic consumption patterns within the category, and the key consumer trends driving consumption. GlobalData's proprietary Risk vs Reward Opportunity model pinpoints the best growth opportunities for Confectionery producers, suppliers and retailers by combining robust, granular data and expert insight. The report uses this framework to identify the best opportunities, analyze white spaces in the market, and outline new product development that will effectively target the most pertinent consumer need states. These are combined to offer strategic recommendations to capitalize on evolvin......
$2995

Top Growth Opportunities: Confectionery in the Poland

Top Growth Opportunities: Confectionery in the Poland Summary Top Growth Opportunities for Confectionery in Poland provides recommended actions and detailed analysis of how to target the best growth opportunities for Confectionery producers and retailers. Readers can understand what categories, channels, companies, and consumers will drive the success of Confectionery markets in Poland through GlobalData's detailed and robust data, expert insight, and case studies. GlobalData's Top Growth Opportunity reports use a risk versus reward opportunity model to identify the best growth markets for Confectionery producers. Through this in-depth study of market and category dynamics, readers are able to identify key opportunities, and what they need to do in order to target them. Top Growth Oppo......
$2995

Syrups (Syrups & Spreads) Market in Australia – Outlook to 2023: Market Size, Growth and Forecast Analytics

Syrups (Syrups & Spreads) Market in Australia - Outlook to 2023: Market Size, Growth and Forecast Analytics Summary Syrups (Syrups & Spreads) Market in Australia - Outlook to 2023: Market Size, Growth and Forecast Analytics is a broad level market review of Syrups market in Australia. Syrups - technically different to molasses these are sugar based liquid sweet spreads. Includes Golden syrups and treacle. To avoid doubt products are labeled either "syrups" or "treacles". Syrups market in Australia registered a positive compound annual growth rate (CAGR) of 3.06% during the period 2013 to 2018 with a sales value of AUD 56.52 Million in 2018, an increase of 3.34% over 2017. The market achieved its strongest performance in 2018, when it grew by 3.34% over its previous year and its weakest......
$500

Syrups (Syrups & Spreads) Market in China – Outlook to 2023: Market Size, Growth and Forecast Analytics

Syrups (Syrups & Spreads) Market in China - Outlook to 2023: Market Size, Growth and Forecast Analytics Summary Syrups (Syrups & Spreads) Market in China - Outlook to 2023: Market Size, Growth and Forecast Analytics is a broad level market review of Syrups market in China. Syrups - technically different to molasses these are sugar based liquid sweet spreads. Includes Golden syrups and treacle. To avoid doubt products are labeled either "syrups" or "treacles". Syrups market in China registered a positive compound annual growth rate (CAGR) of 6.61% during the period 2013 to 2018 with a sales value of CNY 390.54 Million in 2018, an increase of 6.79% over 2017. The market achieved its strongest performance in 2016, when it grew by 7.51% over its previous year and its weakest performance in......
$500

Breakfast Cereals (Bakery & Cereals) Market in Brazil – Outlook to 2023: Market Size, Growth and Forecast Analytics

Breakfast Cereals (Bakery & Cereals) Market in Brazil - Outlook to 2023: Market Size, Growth and Forecast Analytics Summary Breakfast Cereals (Bakery & Cereals) Market in Brazil - Outlook to 2023: Market Size, Growth and Forecast Analytics is a broad level market review of Breakfast Cereals market in Brazil. Cereals - includes all breakfast cereals (whether designed to be eaten hot or cold). Includes porridge oats and oatmeal. Breakfast Cereals market in Brazil registered a positive compound annual growth rate (CAGR) of 9.16% during the period 2013 to 2018 with a sales value of BRL 1,902.95 Million in 2018, an increase of 4.87% over 2017. The market achieved its strongest performance in 2015, when it grew by 12.06% over its previous year and its weakest performance in 2018, when it inc......
$500

Cakes, Pastries & Sweet Pies (Bakery & Cereals) Market in Brazil – Outlook to 2023: Market Size, Growth and Forecast Analytics

Cakes, Pastries & Sweet Pies (Bakery & Cereals) Market in Brazil - Outlook to 2023: Market Size, Growth and Forecast Analytics Summary Cakes, Pastries & Sweet Pies (Bakery & Cereals) Market in Brazil - Outlook to 2023: Market Size, Growth and Forecast Analytics is a broad level market review of Cakes, Pastries & Sweet Pies market in Brazil. Cakes, Pastries and Sweet Pies - all premade cakes and pastries (including those baked on the premises of retailers (inc. bakers). Includes flapjacks and brownies Cakes, Pastries & Sweet Pies market in Brazil registered a positive compound annual growth rate (CAGR) of 10.79% during the period 2013 to 2018 with a sales value of BRL 8,918.77 Million in 2018, an increase of 7.09% over 2017. The market achieved its strongest performance in 2015, when it......
$500

Baking Ingredients (Bakery & Cereals) Market in Egypt – Outlook to 2023: Market Size, Growth and Forecast Analytics

Baking Ingredients (Bakery & Cereals) Market in Egypt - Outlook to 2023: Market Size, Growth and Forecast Analytics Summary Baking Ingredients (Bakery & Cereals) Market in Egypt - Outlook to 2023: Market Size, Growth and Forecast Analytics is a broad level market review of Baking Ingredients market in Egypt. Baking Ingredients - individual ingredients or combinations of ingredients designed for baking. E.g. baking fruits, marzipan, baking yeast, icing etc. Also, includes cooking chocolate. Baking Ingredients market in Egypt registered a positive compound annual growth rate (CAGR) of 16.06% during the period 2013 to 2018 with a sales value of EGP 1,163.61 Million in 2018, an increase of 16.37% over 2017. The market achieved its strongest performance in 2017, when it grew by 27.24% over ......
$500

Cereal Bars (Bakery & Cereals) Market in Germany – Outlook to 2023: Market Size, Growth and Forecast Analytics

Cereal Bars (Bakery & Cereals) Market in Germany - Outlook to 2023: Market Size, Growth and Forecast Analytics Summary Cereal Bars (Bakery & Cereals) Market in Germany - Outlook to 2023: Market Size, Growth and Forecast Analytics is a broad level market review of Cereal Bars market in Germany. Cereal Bars - Confectionery/breakfast-replacement bars made from a mixture of cereals and fruits bound together by syrup e.g. Nutri-Grain. Does not include energy bars. Cereal Bars market in Germany registered a positive compound annual growth rate (CAGR) of 1.78% during the period 2013 to 2018 with a sales value of EUR 125.39 Million in 2018, an increase of 2.44% over 2017. The market achieved its strongest performance in 2018, when it grew by 2.44% over its previous year and its weakest perform......
$500
We use cookies to deliver the best possible experience on our website.
By continuing to use this site, or closing this box, you consent to our use of cookies. To learn more, visit our Privacy Policy