Demand for baby food in Singapore, with sales dominated by milk formula, continued to experience a slow decline in 2019. A number of factors are negatively impacting this declining demand.
With the increasing cost of living and related stress of busy lifestyles in Singapore, despite the rise in dual-income families, consumers are predicted to move towards more economical solutions. For those couples who do want to settle down and get married, the high cost of living and starting and supporting a family is high, leading to further delays in having children, with Singaporeans forced to analyse where best to spend their money regarding housing, necessities and education, with the latter an area that they are not prepared to economise on.
Despite a ban on online sales of milk formula targeting babies under six months of age, internet retailing continued to gain strong share 2019 from popular distribution channels such as hypermarkets and supermarkets in 2019, in addition to recording another year of impressive current value growth. Internet retailers such as Lazada and FairPrice are expanding their sites to include a wide range of baby food products, with bulkier items particularly popular with young parents as they can be delivered to their homes removing the inconvenience of having to shop for large products in store-based retailers with a baby, in addition to offering the chance to order repeat purchases.
Multinationals continued to dominate baby food in Singapore in 2019, led by Abbott Laboratories (S) Pte Ltd with its milk formula brands Gain, PediaSure and Similac. These products tend to target more affluent consumers through their premium quality ingredients and trusted product origins.
More affluent Singaporeans are becoming increasingly interested in purchasing organic baby food including milk formula. Although organic remains a niche in the country, the growing interest is linked to increasing concerns over food safety.
Players are somewhat restricted by regulations in how much they can advertise their brands. With the Code of Ethics set up by SIFECS, the promotion and advertising of products targeting children is restricted to a certain degree.
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This industry report originates from Passport, our Packaged Food market research database.