Soft drinks see stable growth in 2013
Soft drinks in Singapore saw total volume sales growth of 3% in 2013, marginally slower than that seen in 2012. The slowdown seen was mainly due to the fact that soft drinks in Singapore is approaching maturity. The most dynamic total volume sales growth was seen by RTD tea and bottled water, as demand was boosted by increasing consumer health-consciousness. Manufacturers were more active in launching new products in these categories, particularly in RTD tea, which also contributed to the performance seen.
Healthier products remain popular in soft drinks
Due to the developing health and wellness trend and increasing obesity rate, consumers tended to opt for healthier soft drink choices than previously was the case. While Singaporeans in general tend to have a sweet tooth, they gradually opted for reduced sugar or sugar-free soft drinks, in order to control their weight and stay healthy. In response to this demand, manufacturers expanded their range of healthier soft drink options further, such as unsweetened RTD tea, juice with no sugar or artificial sweeteners, and reduced or zero-calorie carbonates, amongst others. Companies also accelerated development of products carrying the Healthier Choice Logo, which were in high demand in Singapore.
F&N Foods (S) Pte Ltd maintains the leading position in soft drinks in 2013
F&N Foods (S) Pte Ltd retained the leading position in soft drinks in 2013. The company offered a wide range of products in its portfolio across most soft drink categories and saw particularly strong performance in bottled water, sports and energy drinks, and Asian speciality drinks. While F&N saw positive off-trade volume and value sales growth in 2013, it saw a marginal decline in its off-trade value sales shares in 2013. This was due to the fact that the company offered constant price promotions, in order to maintain its competitive position.
Supermarkets/hypermarkets and convenience stores continue as key retail channels
Supermarkets/hypermarkets and convenience stores remained the most accessible and convenient retail channels in Singapore, due to their extensive reach throughout the small island. Supermarkets/hypermarkets frequently conducted promotional campaigns, such as bulk purchases and the offering of free-gifts, as well as offered a wider range of products, which consumers found appealing, especially families buying in bulk. Convenience stores played a different role, mainly appealing to individual consumers making impulse purchases. Although the channel continued to account for a negligible off-trade volume sales share in 2013, internet retailing is likely to see increasing importance over the forecast period, due to its convenience.
Soft drinks expected to see growth slowdown
Soft drinks in Singapore is expected to see a significant slowdown in total volume sales growth over the forecast period, due to the expectation of limited population growth in the country. However, with consumers expected to become increasingly health-conscious, the development of healthier products is likely to be the key driver for growth in soft drinks. The use of effective marketing approaches, such as SNS tools and the online promotion of products, is also expected to play a major role in driving demand over the forecast period.
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The Soft Drinks in Singapore market research report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volumes and values, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent market research methodology, conducted in-country
Our market research reports answer questions such as:
- What is the market size of Soft Drinks in Singapore?
- What are the major brands in Singapore?
- What potential exists for multinational vs. local soft drinks companies looking to increase market share?
- How have changing social attitudes affected soft drink sales?
- How have sustainability issues; such as environmentally-friendly packaging, legislation on recyclability, or the amount of plastic in bottles, affected the soft drink industry?
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This industry report originates from Passport, our Soft Drinks market research database.