Sweet Biscuits, Snack Bars and Fruit Snacks in Singapore

PROSPECTS

Will healthy variants take over packaged food?

Multiple forces such as government initiatives, education, and influence from social media have contributed to an increasing awareness of healthy living amongst Singaporeans in 2018. The strategies by manufacturers from various categories to adapt to these changes have been diverse – while non-alcoholic drinks manufacturers have chosen to release healthier and reduced sugar variants of their products, snack brands such as Yan Yan have instead chosen to focus on the core competency of their products.

Players to offer increasing diversity over forecast period

Over the forecast period, sweet biscuits, snack bars, and fruit snacks is expected to record a positive performance in both volume and value terms at constant 2018 prices. However, the opportunities lie both in healthy snacking and indulgent snacking, with the latter at an albeit lower frequency of consumption than in previous years.

COMPETITIVE LANDSCAPE

Category redefinition required if sweet biscuit players wish to remain ahead

Kraft Foods (S) Pte Ltd and Khong Guan Biscuit Factory (S) Pte Ltd led sweet biscuits, snack bars and fruit snacks in 2018, with their signature brands Oreo and Khong Guan respectively. Their continued and historical success can be attributed to consumer loyalty and product availability, in addition to affordable prices that appeal to the Singaporean consumer.

Will the bar be set high for the new era of snack bars?

On the back of healthy living and premiumisation trends, commercial snack bars players are starting to experience a marginal reduction in share, as they are perceived as too sweet and lacking in functional elements. Niche snack bar players are quickly filling the demand for healthy and functional products by launching specialist brands which target consumers looking for protein rich, energy boosting, vegan, or sugar-free snack bars.

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