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Learn moreDec 2020
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During 2020, the government of Singapore implemented many measures, including a Circuit Breaker lockdown, where residents had to work at home and study remotely as much as possible to curb COVID-19 transmission in the community. When the implementation of the Circuit Breaker period was announced, consumers rushed to stockpile essential packaged food items such as meat, rice, noodles and cooking ingredients.
From 24 March, no short-term visitors (from anywhere in the world) were allowed to enter or transit through Singapore. The Ministry of Manpower stressed that it would only allow the entry or return of work pass holders, including their dependents, or those providing essential services, such as healthcare and transport.
Bigger companies with channel ubiquity and diverse portfolios have fared better than others. For example, the leading companies such as Nestlé Singapore Pte Ltd and Kraft Foods (S) Pte Ltd have extensive portfolios, ranging from snacks and confectionery to essential food items like cooking ingredients, dairy products and staple foods.
Generally, during COVID-19, retail channels located in neighbourhood areas, such as independent small grocers, did well at consumers could buy their packaged food there, with the exception of frozen processed food, without travelling far, thus preventing unnecessary social contact and safeguarding health. Besides, channels with large product variety and stock, which can generally ensure there will not be a food shortage, such as supermarkets and hypermarkets, were also amongst the top choices for grocery shopping during the Circuit Breaker lockdown.
During the Circuit Breaker lockdown, foodservice outlets were ordered to temporarily close their dine-in options, with only takeaway and home delivery allowed. As such, this caused a huge drop in volume sales via foodservice outlets.
In 2021, growth in retail sales of packaged food is likely to drop as consumers destock their food at home. Furthermore, as businesses are likely to fully reopen and people will return to work, they will eat out more often; hence, the need for packaged food for home consumption will fall.
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Overview
Discover the latest market trends and uncover sources of future market growth for the Packaged food 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 Packaged food industry in Singapore, our research will save you time and money while empowering you to make informed, profitable decisions.
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The Packaged food in Singapore market research report includes:
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This industry report originates from Passport, our Packaged Food market research database.
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.