Singapore Ready to Eat Food Market - Growth, Trends, COVID-19 Impact, and Forecast (2022 - 2027)

The Singapore Ready to Eat Food Market is Segmented by Product Type (Instant Breakfast/Cereals, Instant Soups and Snacks, Ready Meals, Baked Goods, Meat Products, and Other Product Types) and Distribution Channel (Hypermarkets/Supermarkets, Convenience Stores, Food Specialty Stores, Departmental Stores, Online Retailers, and Other Distribution Channels). The report offers market size and forecast in value (USD million) for the above segments.

Market Snapshot

cagr
Study Period: 2016 -2027
Base Year: 2021
CAGR: 2.6 %

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Market Overview

The Singaporean ready-to-eat food market is expected to record a CAGR of 2.6% during the forecast period (2022-2027).

Ready-to-eat food products witnessed a surge in demand during the COVID-19 pandemic. During lockdown and work-from-home rules, the demand for ready-to-cook food products increased, boosting retail sales over the last few months. The restaurants shut down their services due to the rising COVID-19 cases, leading to an increase in at-home cooking and the demand for ready-to-eat products.

Ready-to-eat products are considered the closest alternative to regular food, which can be consumed anytime, such as during breakfast, lunch, or dinner. The initiatives taken by regulatory authorities, like the ongoing promotional efforts undertaken by the Singapore Health Promotional Board to create awareness regarding frozen ready-to-eat foods and fish products, are driving the market’s growth.

Owing to the increased exposure to multiple cultures, people are experimenting with their diets, and RTE foods are finding an opportunity to grow with the rising trend of trying new foods and cuisines in the country. A constantly organizing supply chain in the country and ease of product circulation across the pertaining retail channels led to increased sales of RTE foods in the market.

Scope of the Report

Ready-to-eat (RTE) foods are a group of food products that are pre-cleaned, precooked, mostly packaged, and ready for consumption without prior preparation or cooking. The Singaporean ready-to-eat food market is segmented by product type and distribution channel. For each segment, the market sizing and forecast have been done based on value (USD million).

By Product Type
Instant Breakfast/Cereals
Instant Soups and Snacks
Ready Meals
Baked Goods
Meat Products
Other Product Types
By Distribution Channel
Hypermarkets/Supermarkets
Convenience Stores
Food Specialty Stores
Departmental Stores
Online Retailers
Other Distribution Channels

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Key Market Trends

Demand Surge for Convenient and Healthy Food

Ready-to-eat foods are gaining popularity among consumers in Singapore due to their convenience. The demand for convenient and instant food, particularly instant pasta, rice, snacks, and meat products, is growing rapidly due to changes in social and economic patterns and increased expenditure on food and beverages. The demand is also increasing due to growing awareness about healthy foods, changes in meal patterns, existing food habits, and the desire to taste new products. Instant or easy-to-prepare snacking is becoming extremely popular, especially among working-class people, teenagers, people living in hostels, and bachelors due to their hectic lifestyles. The on-the-go food concept is closely associated with the easy consumption and handling of products. Consumers are allocating less time to cooking food at home due to busier schedules. Thus, they are unable to make time for proper meals and opt for on-the-go RTE food. The consumption of healthy food is necessary for fitness-conscious consumers, and they are required to consume meals frequently throughout the day. The growing demand for quick food that is fresh and nutritious is further aiding the growth of the Singaporean ready-to-eat food market.

Singapore Ready to Eat Food Market

Noodles Segment is Growing Rapidly

Singapore has the most favorable instant noodles trade market in the world. It emerged as one of the major trade destinations in Asia-Pacific, because of which it is growing at a tremendous pace. The growing youth segment, increasing working population, rising incomes and purchasing power, higher brand consciousness, changing consumer preference, growing urbanization, and increasing middle-class population are the biggest drivers of the instant noodles industry in Singapore. Lack of time, fast-paced life, and changing food preferences are also helping the instant noodles sector in Singapore. Recently, Nestle Maggie came up with instant ready-to-eat noodles. Similarly, other players are innovating their product portfolios per the changing consumption patterns. Few companies like Nissin Foods are targeting the Singaporean market for cup noodles as they see the growth potential.

singapore rte food market

Competitive Landscape

The Singaporean ready-to-eat food market is highly competitive due to the presence of many local and small players in the country, such as Food Box, Health Food Matters, Select Group, Prima Taste, and Pondok Abang. Some of the major companies in the business include Pepsico Inc., Nestle, Kellogg Co., and General Mills Inc. Strategies adopted by major companies for the development of the RTE market include new product developments, global expansions, acquisitions, and investments. Leading global players are expanding their footprints in the Singaporean RTE food market. Due to an untapped potential market in Singapore for the category, companies are coming up with new flavor variants to influence and grab a significant market share in the growing market.

Recent Developments

  • In 2021, Nissin Foods Singapore launched the new Nissin X IRVINS Salted Egg Instant Noodle Bowl in collaboration with the salted egg snack expert IRVINS. The instant noodle features classic mee pork noodles topped with salted egg seasoning, spring onion, and egg crumbs.
  • In 2021, Impossible Foods launched its first ready-to-eat Impossible Burger across more than 300 7-Eleven stores in Singapore, becoming the first plant-based meat manufacturer to offer a ready-to-eat product in the country.
  • In 2020, Nissin Foods announced the launch of mala soup-type cup noodles in Singapore and Malaysia to tap into the local taste trends. Mala is a combination of spicy flavors derived from Szechuan, peppercorn, chili pepper, spices, and oil.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Porter's Five Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Product Type

      1. 5.1.1 Instant Breakfast/Cereals

      2. 5.1.2 Instant Soups and Snacks

      3. 5.1.3 Ready Meals

      4. 5.1.4 Baked Goods

      5. 5.1.5 Meat Products

      6. 5.1.6 Other Product Types

    2. 5.2 By Distribution Channel

      1. 5.2.1 Hypermarkets/Supermarkets

      2. 5.2.2 Convenience Stores

      3. 5.2.3 Food Specialty Stores

      4. 5.2.4 Departmental Stores

      5. 5.2.5 Online Retailers

      6. 5.2.6 Other Distribution Channels

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Most Active Companies

    2. 6.2 Most Adopted Strategies

    3. 6.3 Market Share Analysis

    4. 6.4 Company Profiles

      1. 6.4.1 Pepsico Inc.

      2. 6.4.2 Nestle

      3. 6.4.3 Kellogg Co.

      4. 6.4.4 General Mills Inc.

      5. 6.4.5 Prima Taste

      6. 6.4.6 Pondok Abang

      7. 6.4.7 Food Box

      8. 6.4.8 Health Food Matters

      9. 6.4.9 Slect Group Pte Ltd

      10. 6.4.10 McCain Foods

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

  8. 8. IMPACT OF COVID-19 ON THE MARKET

**Subject to Availability

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Frequently Asked Questions

The Singapore Ready-to-Eat Food Market market is studied from 2016 - 2027.

The Singapore Ready-to-Eat Food Market is growing at a CAGR of 2.6% over the next 5 years.

Nestle, Kellogg Co., Prima Taste, General Mills Inc., Pepsico Inc. are the major companies operating in Singapore Ready-to-Eat Food Market.

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