Singapore Ready to Eat Food Market Opportunities, Industry 2031
Singapore Ready to Eat Food Market Opportunities, Industry 2031
Segments - Ready to Eat Food Market by Distribution Channels (Hypermarkets/Supermarkets, Convenience Stores, Food Specialty Stores, Departmental Stores, Online Retailers, and Others), Product Types (Instant Breakfast/Cereals, Instant Soups & Snacks, Ready Meals, Baked Goods, Meat Products, and Others), Country and Forecast, 2023-2031
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| Report ID :FB-2732
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| 71 Reviews
| 201 Pages
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Report Description
The Singapore ready to eat food market size was USD 848.141 Billion in 2022 and is likely to reach USD 1.09 Billion by 2031 , expanding at a CAGR of 2.85% during 2023–2031. Ready-to-eat (RTE) meals include a range of foods that are primarily designed for ready to eat straight away as these products do not require any further cooking preparation or ingredients. Some of the key items of RTE foods are frozen chicken, ricotta, soft-serve ice cream, picnic meats, hot dogs, and many more.
These types of foods are gaining popularity in Singapore due to their convenience and easy to consume without the need for long preparation. As the number of working families is growing rapidly across the globe, the demand for such foods rises significantly since consumption of RTE foods saves time in the kitchen.
Moreover, the rapid expansion of online platforms selling such foods allow to save expenses for consumers as these platforms are offering products at a discounted or at least fair price. The majority of money spent by young people goes toward convenient ready-to-eat items, as per some reports. Young clients are the easiest target for ready-to-eat food manufacturing behemoths.
Market Trends, Drivers, Restraints and Opportunities
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Increasing number of working women and their growing disposable income in the country is a key factor expected to boost the market in the coming years.
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Changing lifestyle and rising demand for RTE foods from customers having hectic lifestyle presents another key driver of the market.
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Wide availability of different types of foods with different flavor and easily availability of various chilled food prepared at RTE food stores is projected to propel the market expansion during the forecast period.
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Rising number of health-conscious customers and their increasing demand for fresh and healthful meals acts as a key challenge. This is anticipated to hamper the market growth during the projected period.
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Stricter laws and regulations governing the components used in RTE food items are projected to impede the market growth in the coming years.
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Rising promising investment projects and high prospect of the market potential of the country are offering immense opportunities for the market growth in the long run.
Scope of the report:
The report on the Singapore ready to eat food market includes an assessment of the market, size, share, trends, and segments. Overview and dynamics have been included in the report.
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Attributes |
Details |
| Report Title | Ready to Eat Food Market – Singapore Industry Analysis, Size, Share, Growth, Trends, and Forecast |
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Base Year |
2022 |
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Historic Data |
2016 - 2021 |
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Forecast Period |
2023–2031 |
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Segmentation |
Distribution Channels (Hypermarkets/Supermarkets, Convenience Stores, Food Specialty Stores, Departmental Stores, Online Retailers, and Others), Product Types (Instant Breakfast/Cereals, Instant Soups & Snacks, Ready Meals, Baked Goods, Meat Products, and Others) |
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Country |
Singapore |
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Report Coverage |
Market scope, analysis, share, competitive analysis, growth facts, restraints, opportunities, and revenue forecast |
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Key Players Covered in the Report |
Pepsico Inc.; Nestle; Kellogg Co.; General Mills Inc.; Prima Taste; Pondok Abang; Food Box; and Health Food Matters |
Singapore Ready to Eat Food Market Insights
Ready meals segment to dominate the market
Based on product types, the market can be classified as instant breakfast/cereals, instant soups & snacks, ready meals, baked goods, meat products, and others. The ready meals segment is anticipated to dominate the market during the forecast period due to rising demand for the types of meals among young customers and working population worldwide.
Moreover, rising awareness of ready meals among students and youth population presents another key factor for the segment expansion. Meanwhile, the instant soups & snacks segment is projected to expand at considerable growth in the near future as these foods are easily available in the market and easy to consume at instant without taking much time for preparation.
Hypermarket/supermarkets segment to hold a large market share
In terms of distribution channels, the Singapore ready to eat food market can be divided into hypermarkets/supermarkets, convenience stores, food specialty stores, departmental stores, online retailers, and others. The hypermarkets/supermarkets segment is expected to hold a major market share during the forecast period owing to increase consumer preference for in-store shopping as well as easy shopping facilities offered by premium hypermarkets. Moreover, consumers are increasingly inclined towards buying RTE foods from hypermarkets and supermarkets due to easy accessibility, which has assisted the segment growth.
However, the online retailers segment is projected to expand at the fast CAGR in the coming years due to the growing popularity of online shopping among customers. The growth of e-commerce is being propelled by the rising use of smartphones and the internet. Countries all across the world are promoting e-commerce purchasing platforms due to the rising consumers’ preference for online shopping and offering discounted prices of products.
Segments
By Distribution Channels
- Hypermarkets/Supermarkets
- Convenience Stores
- Food Specialty Stores
- Departmental Stores
- Online Retailers
- Others
By Product Types
- Instant Breakfast/Cereals
- Instant Soups & Snacks
- Ready Meals
- Baked Goods
- Meat Products
- Others
By Regions
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
By Key Players
- Pepsico Inc.
- Nestle
- Kellogg Co.
- General Mills Inc.
- Prima Taste
- Pondok Abang
- Food Box
- Health Food Matter
Competitive Landscape
Key players in Singapore's ready-to-eat food market are Pepsico Inc.; Nestle; Kellogg Co.; General Mills Inc.; Prima Taste; Pondok Abang; Food Box; and Health Food Matters. Nestle Maggie and Nissin Foods are among the most popular brands in Singapore, which are constantly working towards evolving product development to meet changing consumption patterns.
Meanwhile, other market players are actively engaged in several strategies to ensure more creativity with their product portfolios, resulting in a significant shift in the competitive landscape.
Table Of Content
1. Executive Summary2. Assumptions and Acronyms Used
3. Research Methodology
4. Ready to Eat Food Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Ready to Eat Food Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Ready to Eat Food Market - Supply Chain
4.5. Global Ready to Eat Food Market Forecast
4.5.1. Ready to Eat Food Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Ready to Eat Food Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Ready to Eat Food Market Absolute $ Opportunity
5. Global Ready to Eat Food Market Analysis and Forecast by Region
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Region
5.2.2. Y-o-Y Growth Projections by Region
5.3. Ready to Eat Food Market Size and Volume Forecast by Region
5.3.1. North America
5.3.2. Latin America
5.3.3. Europe
5.3.4. Asia Pacific
5.3.5. Middle East and Africa (MEA)
5.4. Absolute $ Opportunity Assessment by Region
5.5. Market Attractiveness/Growth Potential Analysis by Region
5.6. Global Ready to Eat Food Demand Share Forecast, 2019-2026
6. North America Ready to Eat Food Market Analysis and Forecast
6.1. Introduction
6.1.1. Basis Point Share (BPS) Analysis by Country
6.1.2. Y-o-Y Growth Projections by Country
6.2. North America Ready to Eat Food Market Size and Volume Forecast by Country
6.2.1. U.S.
6.2.2. Canada
6.3. Absolute $ Opportunity Assessment by Country
6.4. Market Attractiveness/Growth Potential Analysis
6.4.1. By Country
6.4.2. By Product Type
6.4.3. By Application
6.5. North America Ready to Eat Food Demand Share Forecast, 2019-2026
7. Latin America Ready to Eat Food Market Analysis and Forecast
7.1. Introduction
7.1.1. Basis Point Share (BPS) Analysis by Country
7.1.2. Y-o-Y Growth Projections by Country
7.1.3. Latin America Average Pricing Analysis
7.2. Latin America Ready to Eat Food Market Size and Volume Forecast by Country
7.2.1. Brazil
7.2.2. Mexico
7.2.3. Rest of Latin America
7.3. Absolute $ Opportunity Assessment by Country
7.4. Market Attractiveness/Growth Potential Analysis
7.4.1. By Country
7.4.2. By Product Type
7.4.3. By Application
7.5. Latin America Ready to Eat Food Demand Share Forecast, 2019-2026
8. Europe Ready to Eat Food Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.1.3. Europe Average Pricing Analysis
8.2. Europe Ready to Eat Food Market Size and Volume Forecast by Country
8.2.1. Germany
8.2.2. France
8.2.3. Italy
8.2.4. U.K.
8.2.5. Spain
8.2.6. Russia
8.2.7. Rest of Europe
8.3. Absolute $ Opportunity Assessment by Country
8.4. Market Attractiveness/Growth Potential Analysis
8.4.1. By Country
8.4.2. By Product Type
8.4.3. By Application
8.5. Europe Ready to Eat Food Demand Share Forecast, 2019-2026
9. Asia Pacific Ready to Eat Food Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Asia Pacific Average Pricing Analysis
9.2. Asia Pacific Ready to Eat Food Market Size and Volume Forecast by Country
9.2.1. China
9.2.2. Japan
9.2.3. South Korea
9.2.4. India
9.2.5. Australia
9.2.6. Rest of Asia Pacific (APAC)
9.3. Absolute $ Opportunity Assessment by Country
9.4. Market Attractiveness/Growth Potential Analysis
9.4.1. By Country
9.4.2. By Product Type
9.4.3. By Application
9.5. Asia Pacific Ready to Eat Food Demand Share Forecast, 2019-2026
10. Middle East & Africa Ready to Eat Food Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Middle East & Africa Average Pricing Analysis
10.2. Middle East & Africa Ready to Eat Food Market Size and Volume Forecast by Country
10.2.1. Saudi Arabia
10.2.2. South Africa
10.2.3. UAE
10.2.4. Rest of Middle East & Africa (MEA)
10.3. Absolute $ Opportunity Assessment by Country
10.4. Market Attractiveness/Growth Potential Analysis
10.4.1. By Country
10.4.2. By Product Type
10.4.3. By Application
10.5. Middle East & Africa Ready to Eat Food Demand Share Forecast, 2019-2026
11. Competition Landscape
11.1. Global Ready to Eat Food Market: Market Share Analysis
11.2. Ready to Eat Food Distributors and Customers
11.3. Ready to Eat Food Market: Competitive Dashboard
11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
11.4.1. Pepsico Inc.
11.4.2. Nestle
11.4.3. Kellogg Co.
11.4.4. General Mills Inc.
11.4.5. Prima Taste
11.4.6. Pondok Abang
11.4.7. Food Box
11.4.8. Health Food Matters
Methodology
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