This report profiles Singapore’s food and beverage industry, discussing market trends through 2013 and outlook for 2014 and beyond. The report also highlights leading players in the sector including Fraser and Neave Limited (F&N), Olam International Limited (OLAM), Petra Foods Limited and Food Empire Holdings Limited (FEH).

Singapore is a relatively wealthy nation and has high per capita food consumption. On a per capita basis, Singapore has the highest food consumption levels in the Southeast Asia region. Singapore’s food and beverage (F&B) services industry contributed approximately 3.2% to the country’s total GDP in 2013. Due to limited domestic agricultural production and rapid urbanisation, the country imports more than 90% of its food products, particularly from other Asian countries.

Expenditure on F&B has grown steadily in Singapore, with market value expanding at a CAGR of more than 5%. The rise in the number of working women, growing middle class population and the surge in disposable income were the main drivers of this growth.

Going forward, the country’s F&B industry is expected to witness robust growth thanks to highly promising per capita consumption growth. Food services, which currently represents more than 40% of the total F&B spending in Singapore, is expected to increase due to higher incomes and rising tourist arrivals.

Key Points:

• Singapore’s F&B industry contributed around 3.2% to the country’s total GDP in 2013. The rise in the number of working women, growing middle class population and the surge in disposable income have contributed to the expanding F&B market.

• On a per capita basis, Singapore has the highest food consumption levels in the Southeast Asia region. Singapore’s private consumption expenditure (current prices) in food and beverage sector grew at a CAGR of 5%.

• Singapore’s F&B market can be divided into three broad segments on consumption basis namely food and non-alcoholic beverages, alcoholic beverages and tobacco and food servicing services. As of 2013, food and non-alcoholic beverage segment was the largest accounting for 45% of the total.