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Country Report

Confectionery in

Confectionery in Singapore

42 pages, Jul 2017

US$2,100

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Executive Summary

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CHOCOLATE CONFECTIONERY IN SINGAPORE

Trends

Chocolate confectionery’s 5% current value growth in 2017 was slightly stronger than the review period current value CAGR of 5%. Novelties continued to attract consumers, with cross-over in categories as an emerging trend. For instance, Magnum, a renowned ice cream brand, launched a chocolate bar during October 2016, with Singapore being the first Asian country where it appeared. The continued popularity of boxed assortments for gifting and controlled portion intake was another key contributor to overall chocolate confectionery performance in 2017.

Competitive Landscape

Ferrero recorded the strongest increase in value share to reach 22%, strengthening its leadership in chocolate confectionery during 2017. Its strong portfolio of brands including Ferrero Rocher, Kinder Bueno and Kinder Joy, which gained strong consumer awareness and interest over the review period, was a key contributor to this. Furthermore, Ferrero Rocher remained a favourite for gifting and consumption during festive seasons due to its gold-colour packaging that signifies auspiciousness in Singapore. The company’s favourability was also reinforced by the player’s investments in marketing campaigns during the year.

Prospects

Chocolate confectionery is expected to register a value CAGR of 5% at constant 2017 prices and a retail volume CAGR of 3% over the forecast period, both being an improvement over their respective review period CAGRs although the value growth will be more significant. Consumers’ rising health consciousness will be a key limitation to significant chocolate confectionery performance due to some reduction in consumption, be it in form of less frequency or going for smaller pack sizes. Consumers’ urge for controlled-portion intake and the consequent demand for small pack sizes, which usually command a higher unit price, will drive the constant value growth.

GUM IN SINGAPORE

Trends

Gum witnessed a stronger current value decline in 2017 than in 2016, attributed to restricted access to gum in Singapore. According to The Regulation of Imports and Exports Act, importing of chewing gum except that with therapeutic value is prohibited. The only exception for gum with therapeutic value is due to a concession made under the 2004 US-Singapore Free Trade Agreement. Consequently, sugar-free chewing gum containing xylitol is the only type available in Singapore.

Competitive Landscape

Mars Foods monopolised gum in 2017, in view of the withdrawal of Mentos toward the end of the review period. Its Orbit brand, which has already garnered widespread consumer awareness, thus remained the only choice for consumers.

Prospects

Gum is expected to continue to fall in value over the forecast period, posting a CAGR of -11% at constant 2017 compared to the -6% constant value CAGR seen over the review period. The restrictions imposed on the sales avenues of gum are unlikely to improve over the forecast period, seeing distribution limited to just a few pharmacies. The troublesome process of having to produce identification when purchasing gum will further deter the category’s performance over the forecast period.

SUGAR CONFECTIONERY IN SINGAPORE

Trends

Sugar confectionery current value growth in 2017 was in line with that seen in 2016 but slower than the current value CAGR of 3% registered over the review period. The category witnessed minimal product innovations during the year, with growth mainly sustained by consumers’ conventional consumption trends, for instance reliance on mints to refresh their breath. Despite this, medicated confectionery brands continued to innovate in terms of packaging, flavour and format, for instance with Halls XS Honey Lemon, a new flavour launched in April 2017 to reinforce its Halls XS variant’s presence in Singapore.

Competitive Landscape

Mars Foods witnessed the strongest growth in value share to reach 11%, thereby strengthening its leadership in sugar confectionery during 2017. This was owing to the strong performance of its Eclipse brand in power mints, where it offered a wide variety of flavours to cater to consumers’ palates.

Prospects

Sugar confectionery is expected to record stable if slightly lower constant value growth over the forecast period as compared to the value CAGR of 3% at constant 2017 prices posted over the forecast period. Consumers’ reliance on power mints to refresh their breath amidst their high image consciousness will be the key contributor to continued growth. Power mints is expected to witness the strongest constant value growth of 4% within sugar confectionery over the forecast period, higher than the CAGR for sugar confectionery overall.

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Samples

Confectionery Market Sample Report Confectionery Market Sample Data

Overview

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.

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Overview

Discover the latest market trends and uncover sources of future market growth for the 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 Confectionery industry in Singapore, our research will save you time and money while empowering you to make informed, profitable decisions.

The 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 Confectionery in Singapore?
What are the major brands in Singapore?
With economic recovery far from guaranteed, are consumers cutting back on impulse and indulgence food items like confectionery?
How are manufacturers addressing consumer concerns over health and obesity?
What does the future hold for ethically sourced products?

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.

Megatrends

Country Report

Confectionery in Singapore

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Executive Summary

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CHOCOLATE CONFECTIONERY IN SINGAPORE

Trends

Competitive Landscape

Prospects

GUM IN SINGAPORE

Trends

Competitive Landscape

Prospects

SUGAR CONFECTIONERY IN SINGAPORE

Trends

Competitive Landscape

Prospects

Samples

Overview

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Table of Contents

Chocolate Confectionery

Gum

Sugar Confectionery

Confectionery in Singapore - Company Profiles

Kraft Foods (S) Pte Ltd in Packaged Food (Singapore)

STRATEGIC DIRECTION

KEY FACTS

COMPETITIVE POSITIONING

Nestlé Singapore Pte Ltd in Packaged Food (Singapore)

STRATEGIC DIRECTION

KEY FACTS

COMPETITIVE POSITIONING

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