Executive Summary

Jul 2018
PROSPECTS
Indulgence remains relatively unscathed by government’s war on diabetes

In Singapore, the consumption of chocolate is affected by the extent to which consumers allow themselves to indulge. Although the government is pushing to reduce sugar consumption amongst Singaporeans, categories that are intended for indulgence such as chocolate confectionery appear to be less affected compared to other snacks.

Players must carefully balance offers to include variety of consumer segments

This shift in lifestyles towards more premium flavours is supported by the growth in GDP per capita amongst Singaporeans. However, there will be a portion of the population that is deterred by the increasing prices of chocolate confectionery, and manufacturers and distributors need to be careful to balance their focus on premium products with the demands of the price-conscious segment of Singaporean consumers.

Chocolate confectionery offers “more for less” approach

To cater to price-conscious consumers, certain manufacturers are choosing the affordable premium approach instead – their products offer greater value, but may not necessarily target the premium segment or contain exotic flavours. For instance, Kit Kat Tiramisu Duo and Cadbury Dark Milk Chocolate are both products that are marketed to contain a blend of flavours within each product or pack size.

COMPETITIVE LANDSCAPE
Decisive point to determine the leaders of chocolate confectionery in Singapore

Ferrero SpA is an example of a manufacturer whose affordable premium strategy has succeeded in the past. Ferrero Rocher, for instance, is a value-for-money product that has become a well-known part of the gifting culture present in Singapore, which has in turn created brand loyalty and repeat purchases.

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Chocolate Confectionery in Singapore

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Overview

Discover the latest market trends and uncover sources of future market growth for the Chocolate confectionery industry in Singapore with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

If you're in the Chocolate confectionery industry in Singapore, our research will save you time and money while empowering you to make informed, profitable decisions.

The Chocolate confectionery 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 Chocolate confectionery in Singapore?
  • What are the major brands in Singapore?
  • What are market opportunities for health and wellness minded dark chocolate?
  • What are market opportunities for ethically sourced chocolate?
  • How might increasingly volatile cocoa bean commodity prices impact retail prices and sales performance?

Why buy this report?

  • Gain competitive intelligence about market leaders
  • Track key industry trends, opportunities and threats
  • Inform your marketing, brand, strategy and market development, sales and supply functions

This industry report originates from Passport, our Packaged Food market research database.

Packaged Food in Singapore - Industry Overview

EXECUTIVE SUMMARY

Singapore’s government continues to encourage healthier eating habits
Growth in packaged food current value sales remains stable in 2018
Packaged food innovations centre around health and convenience
Supermarkets remains the leading distribution channel
Forecast period outlook for packaged food is broadly favourable

FOODSERVICE

Sales to Foodservice
Diverse foodservice landscape creates demand for wide variety of packaged food types
Use of healthier packaged food products by foodservice players set to continue rising
Consumer Foodservice
Independent operators lead innovation in foodservice menus and concepts
Healthier foodservice concepts continue to gain popularity
Foodservice operators launch branded packaged food products for retail sale
Category Data
Table 1 Foodservice Sales of Packaged Food by Category: Volume 2013-2018
Table 2 Foodservice Sales of Packaged Food by Category: % Volume Growth 2013-2018
Table 3 Forecast Foodservice Sales of Packaged Food by Category: Volume 2018-2023
Table 4 Forecast Foodservice Sales of Packaged Food by Category: % Volume Growth 2018-2023

MARKET DATA

Table 5 Sales of Packaged Food by Category: Volume 2013-2018
Table 6 Sales of Packaged Food by Category: % Volume Growth 2013-2018
Table 7 Sales of Packaged Food by Category: % Value Growth 2013-2018
Table 8 GBO Company Shares of Packaged Food: % Value 2014-2018
Table 9 NBO Company Shares of Packaged Food: % Value 2014-2018
Table 10 LBN Brand Shares of Packaged Food: % Value 2015-2018
Table 11 Penetration of Private Label by Category: % Value 2013-2018
Table 12 Distribution of Packaged Food by Format: % Value 2013-2018
Table 13 Distribution of Packaged Food by Format and Category: % Value 2018
Table 14 Forecast Sales of Packaged Food by Category: Volume 2018-2023
Table 15 Forecast Sales of Packaged Food by Category: Value 2018-2023
Table 16 Forecast Sales of Packaged Food by Category: % Volume Growth 2018-2023
Table 17 Forecast Sales of Packaged Food by Category: % Value Growth 2018-2023

SOURCES

Summary 1 Research Sources