Summary “Singapore Baby Food 2020 ” is an analytical report by Global Data which provides extensive and highly detailed current and future market trends in the Singaporean market.
New York, Nov. 12, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Singapore Baby Food, 2020" - https://www.reportlinker.com/p05982774/?utm_source=GNW
The sector is heavily dominated by milks, partly because consumption levels are high but also because retail prices are among the highest in the world - a problem the government has recently tried to alleviate, but so far with limited success. In value terms, milks account for 87.2% of sales, wet meals and drinks for 6.3%, and cereals for 5.3%. Finger foods remain marginal. Finger foods and wet meals/drinks are showing the most growth in value terms, as more sophisticated products have come on-stream. Per capita consumption of all types of food, with the exception of baby milks, has increased since 2013.
What else does this report offer?
- Consumption data based upon a unique combination of industry research, fieldwork, market sizing work and our in-house expertise to offer extensive data about the trends and dynamics affecting the industry.
- Detailed profile of the companies operating and new companies considering entry in the industry along with their key focus product sectors.
- Market profile of the various product sectors with the key features & developments, segmentation, per capita trends and the various manufacturers & brands.
- Overview of baby food retailing with a mention of the major retailers in the country along with the distribution channel.
- Future projections considering various trends which are likely to affect the industry.
- The birth rate fell from 7.9 per thousand population in 2009 to 6.9 per thousand population in 2019.
- Retail sales in 2019 stood at S$211 million (US$152 million), 2.6% down on the previous year, whilst consumption fell to 4,311 tons, a decline of 1%.
- In value terms, milks account for 87.2% of sales, wet meals and drinks for 6.3%, and cereals for 5.3%. Finger foods remain marginal.
- Three major manufacturers have infant formula factories in Singapore: Abbott, Nestlé (via Wyeth) and Mead Johnson.
- Abbott is the clear leader in milks, which gives it the lead position in the baby food sector as a whole. Nestlé leads in cereals, is in second place in milks and finger foods but is losing share in wet meals.
- Retail sales are forecast to show growth of only 7.6% up to 2025, equivalent to a 1.6% rise at constant 2019 prices. Per capita consumption will, however, show slow but steady growth from 2021 onwards.
Reasons to Buy
- Evaluate important changes in consumer behavior and identify profitable markets and areas for product innovation.
- Analyse current and forecast behavior trends in each category to identify the best opportunities to exploit.
- Detailed understanding of consumption by individual product categories in order to align your sales and marketing efforts with the latest trends in the market.
- Investigates which categories are performing the best and how this is changing market dynamics.
Read the full report: https://www.reportlinker.com/p05982774/?utm_source=GNW
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