In 2020 when consumers were required to stay at home as much as possible to curb the transmission of COVID-19, bulk dairy ice cream was increasingly purchased for sharing at home, thus leading to double-digit growth in retail volume and value sales. However, Singapore is expected to roll out its vaccination programme successfully, which will allow the economy to open up more in the second half of 2021, resulting in less time spent at home and thus fewer consumption occasions.
Like bulk dairy ice cream, multi-pack dairy ice cream recorded greater growth in terms of retail value and volume sales in 2020 as a result of stay-at-home regulation. However, because of COVID-19 and such stay-at-home measures, consumers are now aware of the concept of hometainment – a term that implies that people can still have fun and enjoy social interaction in the comfort of their home.
Unlike dairy ice cream, water ice cream is characterised by a lack of innovation, keeping sales in the country very low. On the demand side, consumers are constantly looking for new product variety, be it in terms of ingredients, flavours or texture, making water ice cream – which is generally made from frozen sugary water – less appealing.
Ice cream is a popular snacking choice and more brands are likely to enter the market over the forecast period. To cater to the ever-changing palates of consumers, deeper innovation in ice cream flavours is expected, driving up sales.
Singapore has seen a rising wave of plant-based products, ranging from meat to dairy and ice cream. Plant-based, lactose-free ice cream products are positioned as ethical as well as suitable for lactose-intolerant consumers.
With sales channel ubiquity and a large product portfolio of ice cream desserts as well as impulse and take-home ice cream brands that are at the top of consumers’ minds, Unilever Singapore Pte Ltd retains its leading position in ice cream and frozen desserts in Singapore. However, there are many smaller yet agile brands entering the landscape, such as domestic competitor The Ice Cream Cookie Co.
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This report originates from Passport, our Ice Cream and Frozen Desserts research and analysis database.
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