With increasingly health-conscious consumers, manufacturers of baked goods are developing fortified and wholegrain products to gain interest. The number of consumers who consume wholegrain products regularly has increased, especially with the advance in manufacturing technology.
Artisanal is expected to continue to account for over one half of retail value sales of baked goods in 2018. The popularity of artisanal baked goods is reflected in the opening of more chained and independent bakeries, including large chains like Paul and Maison Kayser.
Over the forecast period, the shift from white to fortified and wholegrain bread is expected to continue. This trend is supported by government calls for Singaporeans to increase their wholegrain consumption.
Consumers in Singapore increasingly prefer unpackaged over packaged baked goods. They perceive artisanal products to be higher in quality, as they are generally sold fresh.
Local consumers are expected to continue to perceive artisanal products as higher-quality options in the forecast period. Additionally, chained and independent baked goods specialists, such as BreadTalk, Four Leaves and Bengawan Solo, continuously launch new bread types and flavours to entice consumers.
Domestic players are expected to continue to lead packaged baked goods in 2018. Gardenia Foods is set to remain the leading player in leavened bread and pastries, and baked goods overall, followed by Auric Pacific Group (Sunshine brand).
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This industry report originates from Passport, our Packaged Food market research database.