Singapore Canned Food Market
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Singapore Canned Food Market, By Type (Canned Fruits, Canned Vegetables, Canned Seafood, Canned Meat, Canned Soups & Broths, Canned Ready Meals); By Demographics (Age, Income Level, Ethnicity, Household Size); By Application (Household Consumption, Foodservice Industry (Restaurants, Cafes), Institutional Consumption (Hospitals, Schools)); By Distribution Channel (Hypermarkets & Supermarkets, Convenience Stores, Grocery Stores, Online Retail Channels, Wholesale Distributors), Trend Analysis, Competitive Landscape & Forecast, 2019–2030
- Published Date: May 2024
- Report ID: BWC24358
- Available Format: PDF
- Page: 200
Report Overview
Busy lifestyles in Singapore fuel demand for convenient, long-lasting canned foods are key driving factors of the Singapore Canned Food Market during the forecast period between 2024 and 2030.
Singapore Canned Food Market– Industry Trends & Forecast Report, 2030
Singapore Canned Food Market size by value was estimated at USD 2.15 billion in 2023. During the forecast period between 2024 and 2030, the Singapore Canned Food Market size is expected to expand at a CAGR of 9.10% reaching a value of USD 4.77 billion by 2030. Singapore Canned Food Market thrives on busy lifestyles. With a growing working population and rising disposable incomes, convenience reigns supreme. This multicultural nation enjoys a wide variety of canned options, from seafood to ready-to-heat meals. This, along with a strong emphasis on hygiene and extended shelf life, fuels the demand for canned food in Singapore.
Canned Food – Overview
Canned food is shelf-stable food that's been processed and sealed in airtight cans. The canning process extends the food's lifespan to 1–5 years, making it a convenient and long-lasting food option. From fruits and vegetables to beans and seafood, there's a wide variety available. While some canned food may have added sodium or sugar, it can still be part of a healthy diet.
Singapore Canned Food Market
Growth Drivers
Rising Disposable Income Fuels Growth of Singapore Canned Food Market
Singapore's growing affluence is driving demand for convenient food options. With more disposable income, busy professionals and families are increasingly turning to canned foods for their long shelf life, affordability, and variety. The trend presents a significant opportunity for canned food manufacturers to cater to these time-conscious consumers with innovative and premium products.
Challenges
Limited Local Sourcing
Singapore Canned Food Market, while a major consumer market, struggles with limited local sourcing. This dependence on imports restricts control over ingredients, potentially impacting quality and sustainability. Encouraging local production of raw materials or supporting innovative urban farming could boost the industry's self-sufficiency and competitiveness.
Impact of Escalating Geopolitical Tensions on Singapore Canned Food Market
Escalating geopolitical tensions have cast a shadow over the Singapore Canned Food Market, impacting its dynamics and consumer behavior. With Singapore heavily relying on imports for its food supply, disruptions in global trade routes due to geopolitical tensions have led to supply chain disruptions and increased costs. For instance, recent tensions in key exporting regions like the South China Sea have raised concerns over maritime security and shipping delays. Moreover, Singapore's status as a global financial hub makes it vulnerable to economic fluctuations triggered by geopolitical uncertainties, influencing consumer spending patterns. Therefore, the canned food market in Singapore may experience fluctuating demand and price volatility, compelling stakeholders to navigate through a challenging operating environment marked by geopolitical uncertainties.
Singapore Canned Food Market
Segmental Coverage
Singapore Canned Food Market – By Type
On the basis of type, Singapore Canned Food Market is divided into Canned Fruits, Canned Vegetables, Canned Seafood, Canned Meat, Canned Soups & Broths, and Canned Ready Meals segments. The canned vegetables segment emerge as the largest in the Singapore Canned Food Market by type. The dominance is attributed to several factors including consumer preferences for convenient and healthy meal options, growing awareness about the benefits of incorporating vegetables into diets, and the versatility of canned vegetables in various culinary applications. Additionally, the increasing trend towards vegetarian and vegan lifestyles further fuels the demand for canned vegetables. With a wide variety of options available, ranging from common staples like corn and peas to exotic choices like artichokes and asparagus, canned vegetables continue to hold a significant share in the Canned Food Market.
Singapore Canned Food Market – By Demographics
Based on demographics, Singapore Canned Food Market is divided into Age, Income Level, Ethnicity, and Household size segments. The household segment emerges as the most influential factor in the Singapore Canned Food Market. The household size segment significantly shapes consumption patterns and purchasing behaviors, impacting the volume and types of canned food products purchased. Larger households often opt for bulk purchases and family-sized packaging to accommodate their needs, while smaller households may prefer smaller portions or single-serve options to minimize waste. The preference directly influences market demand and product offerings in the canned food sector. As such, understanding household size demographics is paramount for businesses seeking to effectively target and cater to the diverse consumer base in Singapore's Canned Food Market.
Singapore Canned Food Market – By Application
Based on application, Singapore Canned Food Market is divided into Household consumption, Food service industry (including restaurants and cafes), and Institutional consumption (including hospitals and schools) segments. The household consumption emerges as the largest application segment in the Singapore Canned Food Market. This is attributed to the widespread adoption of canned food products among households for their convenience, shelf-stability, and versatility in meal preparation. With busy lifestyles and an increasing emphasis on quick and easy meal solutions, canned food products have become a staple in many Singaporean households. While the food service industry and institutional consumption segments also contribute significantly to the market, household consumption remains the primary driver of demand for canned food products in Singapore.
Singapore Canned Food Market – By Distribution Channel
On the basis of distribution channel, Singapore Canned Food Market is divided into Hypermarkets & Supermarkets, Convenience stores, Grocery stores, Online retail channels, and Wholesale distributors segments. The hypermarkets & supermarkets segment stand out as the largest distribution channel. These retail channels offer a wide variety of canned food products, catering to diverse consumer preferences and household needs. With their extensive product selections, competitive pricing, and convenient locations, hypermarkets and supermarkets attract a significant portion of canned food shoppers in Singapore. While convenience stores, grocery stores, online retail channels, and wholesale distributors also play vital roles in the market, hypermarkets & supermarkets dominate in terms of market share and consumer footfall, making them the primary distribution channel for canned food products in Singapore.
Competitive Landscape
Major players in the Singapore Canned Food Market include Ayam Brand, Del Monte Pacific Limited, Fraser & Neave, Limited, Ocean Canning Singapore Pte Ltd, Unirise Asia Pte Ltd, Nestlé S.A., Heinz, Campbell Soup Company, and Conagra Brands, Inc. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
Recent Developments
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In October 2022 - Campbell Soup Company's Chunky Soup launched four new Flavors: Spicy Chicken Noodle, Spicy Steak n' Potato, Spicy Sirloin Burger, and Spicy Chicken and Sausage Gumbo.
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In September 2022- Campbell's Pacific Foods launched new organic ready-to-serve soups and plant-based chills. The soups come in 14 new Flavors.
Scope of the Report
Attributes |
Details |
Years Considered |
Historical Data – 2019–2023 |
Base Year – 2023 |
|
Estimated Year – 2024 |
|
Forecast Period – 2024–2030 |
|
Facts Covered |
Revenue in USD Billion |
Market Coverage |
Singapore |
Product/Service Segmentation |
Type, Demographics, Application, Distribution Channel |
Key Players |
Ayam Brand, Del Monte Pacific Limited, Fraser & Neave, Limited, Ocean Canning Singapore Pte Ltd, Unirise Asia Pte Ltd, Nestlé S.A., Heinz, Campbell Soup Company, Conagra Brands, Inc. |
By Type
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Canned Fruits
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Canned Vegetables
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Canned Seafood
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Canned Meat
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Canned Soups & Broths
-
Canned Ready Meals
By Demographics
-
Age
-
Income Level
-
Ethnicity
-
Household Size
By Application
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Household Consumption
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Food Service Industry (including Restaurants and Cafes)
-
Institutional Consumption (including Hospitals and Schools)
By Distribution Channel
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Hypermarkets & Supermarkets
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Convenience Stores
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Grocery Stores
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Online Retail Channels
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Wholesale Distributors
- Research Framework
- Research Objective
- Product Overview
- Market Segmentation
- Executive Summary
- Singapore Canned Food Market Insights
- Industry Value Chain Analysis
- DROC Analysis
- Growth Drivers
- E-Commerce Boom
- Rising Disposable Income
- Busy Lifestyles
- Urbanization
- Restraints
- Health Concerns
- Limited Local Sourcing
- Price Sensitivity
- Opportunities
- Product Innovation
- Focus on Sustainability
- Challenges
- Intense Competition
- Fluctuations in Food Prices
- Changing Consumer Preferences
- Growth Drivers
- Technological Advancements/Recent Developments
- Regulatory Framework
- Porter’s Five Forces Analysis
- Bargaining Power of Suppliers
- Bargaining Power of Buyers
- Threat of New Entrants
- Threat of Substitutes
- Intensity of Rivalry
- Singapore Canned Food Market Overview
- Market Size & Forecast by Value & Volume, 2019–2030
- By Value (USD Million)
- Market Share & Forecast
- By Type
- Canned fruits
- Canned vegetables
- Canned seafood
- Canned meat
- Canned soups and broths
- Canned ready meals
- By Demographics
- Age
- Income level
- Ethnicity
- Household size
- By Application
- Household consumption
- Food service industry (restaurants, cafes, etc.)
- Institutional consumption (hospitals, schools, etc.)
- By Distribution Channel
- Hypermarkets and supermarkets
- Convenience stores
- Grocery stores
- Online retail channels
- Wholesale distributors
- By Type
- Market Size & Forecast by Value & Volume, 2019–2030
- Competitive Landscape
- List of Key Players and Their Offerings
- Singapore Canned Food Company Market Share Analysis, 2023
- Competitive Benchmarking, By Operating Parameters
- Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
- Impact of Escalating Geopolitical Tensions on Singapore Canned Food Market
- Company Profiles (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, and SWOT Analysis)
- Ayam Brand
- Del Monte Pacific Limited
- Fraser & Neave, Limited
- Ocean Canning Singapore Pte Ltd
- Unirise Asia Pte Ltd
- Nestlé S.A.
- Heinz
- Campbell Soup Company
- Conagra Brands, Inc.
- Tricon Foods Limited
- Other Prominent Players
- Key Strategic Recommendations
- Research Methodology
- Qualitative Research
- Primary & Secondary Research
- Quantitative Research
- Market Breakdown & Data Triangulation
- Secondary Research
- Primary Research
- Breakdown of Primary Research Respondents, By Region
- Assumption & Limitation
- Qualitative Research
*Financial information in case of non-listed companies will be provided as per availability
**The segmentation and the companies are subjected to modifications based on in-depth secondary for the final deliverable
List of Figures
Figure 1 Singapore Canned Food Market Segmentation
Figure 2 Singapore Canned Food Market Value Chain Analysis
Figure 3 Company Market Share Analysis, 2023
Figure 4 Singapore Canned Food Market Size, By Value (USD Billion), 2019–2030
Figure 5 Singapore Canned Food Market Share, By Type, By Value, 2019–2030
Figure 6 Singapore Canned Food Market Share, By Demographics, By Value, 2019–2030
Figure 7 Singapore Canned Food Market Share, By Application, By Value, 2019–2030
Figure 8 Singapore Canned Food Market Share, By Distribution Channel, By Value, 2019–2030
List of Tables
Table 1 Singapore Canned Food Market Size, By Type, By Value, 2019–2030
Table 2 Singapore Canned Food Market Size, By Demographics, By Value, 2019–2030
Table 3 Singapore Canned Food Market Size, By Application, By Value, 2019–2030
Table 4 Singapore Canned Food Market Size, By Distribution Channel, By Value, 2019–2030
Table 5 Ayam Brand Company Overview
Table 6 Ayam Brand Financial Overview
Table 7 Del Monte Pacific Limited Company Overview
Table 8 Del Monte Pacific Limited Financial Overview
Table 9 Fraser & Neave, Limited Company Overview
Table 10 Fraser & Neave, Limited Financial Overview
Table 11 Ocean Canning Singapore Pte Ltd Company Overview
Table 12 Ocean Canning Singapore Pte Ltd Financial Overview
Table 13 Unirise Asia Pte Ltd Company Overview
Table 14 Unirise Asia Pte Ltd Financial Overview
Table 15 Nestlé S.A. Company Overview
Table 16 Nestlé S.A. Financial Overview
Table 17 Heinz Company Overview
Table 18 Heinz Financial Overview
Table 19 Campbell Soup Company Overview
Table 20 Campbell Soup Company Financial Overview
Table 21 Conagra Brands, Inc. Company Overview
Table 22 Conagra Brands, Inc. Financial Overview
Table 23 Tricon Foods Limited Company Overview
Table 24 Tricon Foods Limited Financial Overvie
Market Segmentation
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