Product Code: ETC016667 | Publication Date: Jul 2023 | Updated Date: Jan 2024 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 70 | No. of Figures: 35 | No. of Tables: 5 | |
The Singapore groceries market is expected to reach US$11.5 billion by 2026, with a compound annual growth rate of 3.4% during the forecast period (2020-2026). The rising population and increasing disposable incomes are the main drivers of this growth in the market. Additionally, e-commerce has been playing an important role in providing customers with convenient access to grocery items, including fresh produce from online stores and supermarkets. On top of that, changing consumer preferences towards healthy foods have resulted in a shift towards organic products which has further impacted on the industry???s growth positively.
Growing population & changing demographics: The growing population coupled with changes in demographic patterns such as increased urbanization and higher levels of female employment will continue to drive market demand for grocery items over the forecast period.Rising disposable income: Increasing household incomes across all segments drive up spending power for essential goods such as groceries, thereby fueling their demand in Singapore markets going forward into 2021 and beyond.E-commerce uptake: With improved internet penetration rates combined with an expanding digital infrastructure across Singapore has seen more consumers shopping online for their daily staples like fruits & vegetables as well as other food items leading to an increase in e-commerce purchases impacting overall retail sales within this sector too.
High level competition among retailers offering same products ??? Intense competition amongst various players operating within this sector offer similar product offerings lead to price wars eventually resulting in reduced margins impacting profitability levels negatively especially amongst smaller players operating at lower capital base.Whole sale business model shifting towards convenience store formats - traditional whole sale retail models are increasingly shifting towards convenient store formats where they can cater better to customer needs reducing waiting time for them without compromising quality or service standards.
Major key players operating within Singapore Groceries Market include Dairy Farm International Holdings Ltd., Sheng Siong Group Limited.
Over 2020 ??? 2021 COVID 19 pandemic had significantly impacted global markets due disruptions caused throughout value chain processes causing delays shipments ETC leading slowdown economic activities worldwide curbing final consumption levels. In response measures taken by government support businesses ease operations allowing partial opening certain sectors while enforcing ???work from home??? policies employees reduce spread novel coronavirus. Also initiatives undertaken provide financial relief people companies facing liquidity issues through grants loans deferred tax payments help them tide over difficult situation.
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 Singapore Groceries Market Overview |
3.1 Singapore Country Macro Economic Indicators |
3.2 Singapore Groceries Market Revenues & Volume, 2020 & 2030F |
3.3 Singapore Groceries Market - Industry Life Cycle |
3.4 Singapore Groceries Market - Porter's Five Forces |
3.5 Singapore Groceries Market Revenues & Volume Share, By Product Types, 2020 & 2030F |
3.6 Singapore Groceries Market Revenues & Volume Share, By Distribution Channel, 2020 & 2030F |
4 Singapore Groceries Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 Singapore Groceries Market Trends |
6 Singapore Groceries Market, By Types |
6.1 Singapore Groceries Market, By Product Types |
6.1.1 Overview and Analysis |
6.1.2 Singapore Groceries Market Revenues & Volume, By Product Types, 2020-2030F |
6.1.3 Singapore Groceries Market Revenues & Volume, By Packaged Food, 2020-2030F |
6.1.4 Singapore Groceries Market Revenues & Volume, By Unpackaged Food, 2020-2030F |
6.1.5 Singapore Groceries Market Revenues & Volume, By Drinks, 2020-2030F |
6.1.6 Singapore Groceries Market Revenues & Volume, By Tobacco, 2020-2030F |
6.1.7 Singapore Groceries Market Revenues & Volume, By Household Products, 2020-2030F |
6.1.8 Singapore Groceries Market Revenues & Volume, By Others, 2020-2030F |
6.2 Singapore Groceries Market, By Distribution Channel |
6.2.1 Overview and Analysis |
6.2.2 Singapore Groceries Market Revenues & Volume, By Supermarkets & Hypermarkets, 2020-2030F |
6.2.3 Singapore Groceries Market Revenues & Volume, By Convenience Store, 2020-2030F |
6.2.4 Singapore Groceries Market Revenues & Volume, By Online, 2020-2030F |
7 Singapore Groceries Market Import-Export Trade Statistics |
7.1 Singapore Groceries Market Export to Major Countries |
7.2 Singapore Groceries Market Imports from Major Countries |
8 Singapore Groceries Market Key Performance Indicators |
9 Singapore Groceries Market - Opportunity Assessment |
9.1 Singapore Groceries Market Opportunity Assessment, By Product Types, 2020 & 2030F |
9.2 Singapore Groceries Market Opportunity Assessment, By Distribution Channel, 2020 & 2030F |
10 Singapore Groceries Market - Competitive Landscape |
10.1 Singapore Groceries Market Revenue Share, By Companies, 2023 |
10.2 Singapore Groceries Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations |
13 Disclaimer |