Singapore Food Processing Market (2023-2029) | Growth, Share, Trends, COVID-19 IMPACT, Outlook, Revenue, Industry, Analysis, Value, Forecast, Size & Companies
Market Forecast By Types (Primary, Secondary, Tertiary), By Applications (Packaged Food, Seafood, Eggs & Meat, Fruits and Vegetables, Dairy, Beverages, Edible Oils & Spices, Others (Grains, Cereals, And Pulses) And Competitive Landscape
| Product Code: ETC036587 | Publication Date: Jul 2023 | Updated Date: May 2024 | Product Type: Report | |
| Publisher: 6Wresearch | No. of Pages: 70 | No. of Figures: 35 | No. of Tables: 5 | |
Singapore Food Processing Market Competition 2023
Singapore Food Processing market currently, in 2023, has witnessed an HHI of 1172, Which has decreased slightly as compared to the HHI of 1620 in 2017. The market is moving towards highly competitive. Herfindahl index measures the competitiveness of exporting countries. The range lies from 0 to 10000, where a lower index number represents a larger number of players or exporting countries in the market while a large index number means fewer numbers of players or countries exporting in the market.
Singapore Export Potential Assessment For Food Processing Market (Values in USD Thousand)
Singapore Food Processing Market Synopsis
Singapore food processing market has witnessed notable expansion, primarily driven by the Singapore government's initiatives to reduce the nation's heavy dependence on food imports, which currently make up 90% of the country's total food consumption along with rising demand for packed food. However, the Singapore food processing market faced significant challenges stemming from the outbreak of the COVID-19 pandemic, resulting in a decline in imports. Additionally, the pandemic caused delays in the establishment and enhancement plans for both new and existing farms, which affected their ability to achieve maximum production capacity. Nevertheless, in 2021, the market demonstrated robust growth, characterized by an upswing in local hen shell egg production, climbing from 615.9 million pieces in 2020 to 643.6 million pieces in 2021.
According to 6Wresearch, Singapore Food Processing Market size is anticipated to grow at a CAGR of 10.1% during 2023-2029F. The Singapore Food Processing Market is poised for substantial growth in the coming years owing to increasing investments and government initiatives aimed at enhancing food security. Additionally, in April 2022, the inauguration of a cutting-edge food-tech facility, FoodPlant, within the JTC Food Hub Senoko, is set to support 200 Singaporean food manufacturers in creating 400 new products by 2026. Additionally, the Singapore Food Agency (SFA) announced a 60 million USD Agri-Food Cluster Transformation (ACT) Fund to develop innovative farming technologies and systems for local farms to expand their production capacities and capabilities. These factors significantly contribute to the Singapore food processing market growth.
Market by Types
Tertiary garnered the major revenue share in the Singapore food processing industry owing to increasing retail sales of packed food. For instance, retail sales of snacks increased from $713.6 million in 2018 to $812.5 million in 2022 and are further expected to reach $990.0 million by 2026. Additionally, changes in consumer lifestyles and a preference for convenience have driven heightened demand for packaged foods, thereby making a significant contribution to the growth of this segment.
Market by Application
Seafood, Eggs and meat accounted for major revenue share in the food processing market in Singapore in 2022 as hen shell eggs, seafood and meat contributed around 29%, 8% and 11% of our total food consumption in the country as of 2022. Additionally, Singapore has allocated a total of USD 220 million to provide funding for farms to expand and optimize their production capabilities, which has increased the local production of eggs and seafood and catalysed the growth of this segment.
Key Attractiveness of the Report
- COVID-19 Impact on the Market.
- 11 Years of Market Numbers.
- Historical Data Starting from 2019 to 2022.
- Base Year: 2022
- Forecast Data until 2029.
- Key Performance Indicators Impacting the Market.
- Major Upcoming Developments and Projects.
Key Highlights of the Report:
- Singapore Food Processing Market Overview
- Singapore Food Processing Market Outlook
- Singapore Food Processing Market Forecast
- Singapore Food Processing Market Value Chain Analysis
- Historical Data and Forecast of Singapore Food Processing Market Revenues, for the Period 2019-2029F
- Market Drivers and Restraints
- Historical Market Data and Forecast of Revenues, By Types, for the Period 2019-2029F
- Historical Market Data and Forecast of Revenues, By Applications, for the Period 2019-2029F
- Singapore Food Processing Market Market Trends
- Singapore Food Processing Market Opportunity Assessment
- Competitive Benchmarking
- Company Profiles
- Key Strategic Recommendations
Market Scope and Segmentation
The report provides a detailed analysis of the following market segments:
By Types
- Primary
- Secondary
- Tertiary
By Applications
- Packaged Food
- Seafood
- Eggs & Meat
- Fruits and Vegetables
- Dairy
- Beverages
- Edible Oils & Spices
- Others (Grains, Cereals, And Pulses)
Frequently Asked Questions About the Market Study (FAQs):
Singapore Food Processing Market size is anticipated to grow at a CAGR of 10.1% during 2023-2029F.
The Singapore Food Processing Market is poised for substantial growth in the coming years owing to increasing investments and government initiatives aimed at enhancing food security.
Tertiary garnered the major revenue share in the Singapore food processing industry owing to increasing retail sales of packed food.
The segments that are covered in this market report are by types and applications.
6W monitors the market across 60+ countries Globally, publishing an annual market outlook report that analyses trends, key drivers, Size, Volume, Revenue, opportunities, and market segments. This report offers comprehensive insights, helping businesses understand market dynamics and make informed decisions.
Yes, we provide customisation as per your requirements. To learn more, feel free to contact us on sales@6wresearch.com
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1. Executive Summary |
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2. Introduction |
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2.1 Report Description |
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2.2 Key Highlights of the Report |
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2.3 Market Scope & Segmentation |
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2.4 Research Methodology |
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2.5 Assumptions |
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3. Singapore Food Processing Market Overview |
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3.1 Singapore Food Processing Market Revenues, 2023-2030F |
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3.2 Singapore Food Processing Market-Industry Life Cycle |
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3.3 Singapore Food Processing Market-Porter’s Five Forces |
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3.4 Singapore Food Processing Market Value-Chain |
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4. Singapore Food Processing Market Dynamics |
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4.1 Impact Analysis |
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4.2 Market Drivers |
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4.3 Market Restraints |
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5. Singapore Food Processing Market OngoTrends |
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6. Singapore Food Processing Market Overview, By Types |
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6.1 Singapore Food Processing Market Revenue Share and Revenues, By Types, 2020 & 2030F |
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6.1.1 Singapore Food Processing Market Revenues, By Primary, 2023-2030F |
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6.1.2 Singapore Food Processing Market Revenues, By Secondary, 2023-2030F |
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6.1.3 Singapore Food Processing Market Revenues, By Tertiary, 2023-2030F |
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7. Singapore Food Processing Market, By Application |
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7.1 Singapore Food Processing Market Revenue Share and Revenues, By Application, 2020 & 2030F |
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7.2 Singapore Food Processing Market Revenues, By Application, 2023-2030F |
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7.2.1 Singapore Food Processing Market Revenues, By Packaged Food, 2023-2030F |
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7.2.2 Singapore Food Processing Market Revenues, By Seafood, Eggs & Meat, 2023-2030F |
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7.2.3 Singapore Food Processing Market Revenues, By Fruits and Vegetables, 2023-2030F |
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7.2.4 Singapore Food Processing Market Revenues, By Dairy, 2023-2030F |
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7.2.5 Singapore Food Processing Market Revenues, By Beverages, 2023-2030F |
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7.2.6 Singapore Food Processing Market Revenues, By Edible Oils & Spices, 2023-2030F |
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7.2.7 Singapore Food Processing Market Revenues, By Others, 2023-2030F |
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8. Singapore Food Processing Market Key Performance Indicators |
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9. Singapore Food Processing Market Opportunity Assessment |
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9.1 Singapore Food Processing Market Revenues, By Types, 2030F |
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9.2 Singapore Food Processing Market Revenues, By Application, 2030F |
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10. Singapore Food Processing Market Competitive Landscape |
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10.1 Singapore Food Processing Market Revenues Ranking, By Companies, 2023 |
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10.2 Singapore Food Processing Market Revenues Share, By Operating Parameters |
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11. Company Profiles |
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11.1 F&N Foods Pte Ltd |
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11.2 Gardenia Foods (S) Pte Ltd |
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11.3 Tee Yih Jia Food Manufacturing Pte Ltd |
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11.4 Food Empire Holdings Ltd |
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11.5 Hosen Group Ltd. |
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11.6 Yeo Hiap Seng Ltd. |
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11.7 General Mills Singapore Pte Ltd |
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11.9 Nestlé Singapore Pte Ltd. |
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11.10 Unilever Singapore Pte Ltd |
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11.11 Khong Guan Biscuit Factory (S) Pte Ltd |
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11.12 Liang Yi Food Industries Pte Ltd |
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11.13 SATS Ltd. |
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11.14 Growthwell Singapore Pte Ltd |
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12. Key Strategic Recommendation |
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13. Disclaimer |
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List of Figures |
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1. Singapore Food Processing Market Revenues, 2023-2030F ($ Million) |
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2. Singapore Cooking Ingredients Retail Sales, 2018-2027F (In million USD) |
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3. Singapore Snacks Retail Sales 2018-2027F (In million USD) |
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4. Singapore Staple Food Retail Sales 2018-2027F (In million USD) |
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5. Singapore Number of SFA Registered Food Importers (2023-2023) |
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6. Singapore Foodborne Illness Cases Related to Foodborne Outbreaks per 100,000 Population, 2023-2023 |
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7. Singapore Food Processing Market Revenue Share, By Types, 2020 & 2030F |
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8. Singapore Food Processing Market Revenue Share, By Applications, 2020 & 2030F |
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9. Local Production of Shell Eggs (In Million Pieces), 2020-2023 |
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10. Local Production of Seafood and Vegetables (In Million Tonnes), 2020-2023 |
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11. Local Production (in %) of Overall Consumption of Food Items, 2020-2023 |
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12. Total Value of Local Food Production (In USD Million), 2023-2023 |
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13. Number of Licensed Local Food Farms Based on Primary Activities |
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14. Singapore Retail Sales of Meat by Category ($ Million) (2023 & 2030) |
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15. Singapore Total Volume Sales of Meat (Thousand Tonnes) (2023 & 2030) |
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16. Singapore Food Processing Market Opportunity Assessment, By Types, 2030F |
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17. Singapore Food Processing Market Opportunity Assessment, By Applications, 2030F |
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18. Singapore Food Processing Market Revenue Share, By Companies, 2023 |
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List of Tables |
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1. Upcoming Food Factories in Singapore |
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2. Singapore Food Processing Market Revenues, By Types, 2023-2030F ($ Million) |
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3. Singapore Food Processing Market Revenues, By Applications, 2023-2030F ($ Million) |
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