Dairy products and alternatives in 2025: The big picture
Sales of dairy products and alternatives have seen moderate growth in current retail value terms in 2025 with innovation helping to sustain interest in more mature categories. Prices rose across dairy products and alternatives in 2024 following the increase in Singapore’s Goods and Services Tax (GST) from 8% to 9%. Inflation has stabilised in 2025 while the country’s GST has remained unchanged at 9%, thus ensuring increased price stability in the market. However, despite this, baby food categories such as follow-on and standard milk formula have faced challenges with sales declining in retail volume terms as Singapore’s fertility rate remains at historically low levels, despite the auspicious Dragon year in 2024 which had a minimal impact on birth rates.
Key trends in 2025
Health and wellness remains the central theme of innovation in dairy products and alternatives in Singapore in 2025, particularly in the baby food category. For example, in 2025, Nestlé reformulated its Nan Optipro growing-up milk formula to include five human milk oligosaccharides, with a focus on supporting immunity. Towards the end of 2024, the company also revised the packaging and formula of its S-26 Gold progress line. The new blend of ingredients is marketed to support brain development in children. These moves followed the Singapore Food Agency’s (SFA) proposed draft amendment to allow new ingredients in milk formula and increase the maximum permitted level of certain ingredients which are similar to human milk oligosaccharides (HMO), a group of compounds found in human breast milk, and already approved for use in both the EU and the US.
Competitive Landscape
Malaysia Dairy Industries Pte Ltd remains the leading company within dairy products and alternatives overall in 2025. The company produces the Marigold, Vitagen and King of Kings brands, among others, with it holding a strong presence in key categories such as drinking milk products and yoghurt and sour milk products, as well as the dynamic plant-based dairy category. With a strong distribution reach and ongoing investment in marketing and new product development the company has been able to retain its lead despite increasing competition.
Channel developments
Supermarkets remains the dominant distribution channel within dairy products and alternatives overall in 2025, although the channel’s value share has dropped slightly as more consumers have shifted online. The FairPrice chain of supermarkets launched AI powered smart shopping carts at select outlets in 2025, which is set to provide targeted product recommendations to consumers. This may affect purchasing behaviour across a range of consumer product categories, including dairy products.
What next for dairy products and alternatives?
Sales of dairy products and alternatives are set to see steady growth over the forecast period in value terms (at constant 2025 prices). Looking ahead, Singapore’s dairy category is expected to diversify further with new brand entries and innovative product launches. For instance, drinking milk products in Singapore is set to see the entry of new brands and the launch of innovative products by incumbent players. A notable new entrant in 2025 has been Morinaga Kin Yasashi A2 Fresh Milk, which has expanded into Singapore through a partnership between Japan’s Morinaga Milk and Indonesia’s PT ABC Kogen Dairy. The forecast period may see a greater variety of drinking milk products or other dairy products being introduced following this and similar partnerships.
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Overview:
Understand the latest market trends and future growth opportunities for the Dairy Products and Alternatives industry in Singapore with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
Data and analysis in this report provides further detailed coverage dedicated to a comprehensive range of core packaged food categories.
If you're in the Dairy Products and Alternatives industry in Singapore, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Dairy Products and Alternatives in Singapore report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Dairy Products and Alternatives in Singapore?
- Which are the leading brands in Dairy Products and Alternatives in Singapore?
- How are products distributed in Dairy Products and Alternatives in Singapore?
- How is the rise of e-commerce and/or the expansion of modern grocery retail impacting traditional retail?
- What are the key health and wellness concerns driving, or challenging, sales in Dairy Products and Alternatives?
- How significant are vegan and vegetarian dietary requirements in determining sales growth in Singapore?
- How has COVID-19 impacted consumer demand? To what extent have lockdown, home seclusion and stockpiling boosted sales? Will the longer term economic repercussions of the pandemic stimulate or suppress future growth?
- Where is future growth expected to be most dynamic?
- How significant will values-based claims, such as sustainability and ethical labelling, be in supporting future growth and brand equity?
Dairy Products and Alternatives in Singapore
Dairy products and alternatives in 2025: The big picture
Key trends in 2025
Competitive Landscape
Channel developments
What next for dairy products and alternatives?
DISCLAIMER
Baby Food in Singapore
KEY DATA FINDINGS
Baby food sees steady gains in 2025 despite falling birth rates
Abbott Laboratories leads while Nestlé invests in innovation to make gains
Supermarkets continues to lose share to e-commerce in 2025
Premiumisation expected to remain a consistent trend in milk formula
Safety a key concern for local consumers
Digital advancements expected within the marketing and distribution of baby food
Butter and Spreads in Singapore
KEY DATA FINDINGS
Butter benefits from its natural image
Auric Pacific Group Ltd continues to lead the category in 2025
Supermarkets continue to dominate sales despite growing appeal of e-commerce
Butter set to continue cannibalising sales of margarine and spreads
Artisanal and flavoured butter attracting interest but demand remains niche
Foodservice remains important for the butter category
Cheese in Singapore
KEY DATA FINDINGS
Consumers focusing on quality over quantity when it comes to cheese
Fonterra Brands leads cheese while Lactalis benefits from its quality offering
Supermarkets lead cheese sales in 2025
Bright outlook for cheese as consumers embrace more sophisticated options
On-the-go eating habits contribute to growing variety of snacking cheese products
Foodservice is set to remain an important channel for the cheese category
Drinking Milk Products in Singapore
KEY DATA FINDINGS
Volume sales under pressure as consumers embrace plant-based alternatives
Crown Pacific Beverage continues to lead category sales in 2025
Supermarkets continue to dominate sales
Modest growth outlook for drinking milk products due to the maturity of the category
Competition set to heat up despite demand cooling
Brand collaborations remain a key strategy for driving interest and engagement
Yoghurt and Sour Milk Products in Singapore
KEY DATA FINDINGS
Flavoured and plain yoghurt the big winners in 2025
Yakult continues to lead the Yoghurt category in 2025.
Supermarkets remains the dominant retail distribution channel for yoghurt
Yoghurt set for steady growth over the forecast period
Health and wellness set to be the focus of innovation
Foodservice fuels innovation and home adoption in Singapore
Other Dairy in Singapore
KEY DATA FINDINGS
Other dairy sees mixed results in 2025
F&N Foods maintains its strong lead in other dairy in 2025 with traditional favourites
Supermarkets remains the key distribution channel despite the rise of e-commerce
Other dairy lacks growth potential due to market maturity and an unhealthy image
Health and wellness trends may exert a negative impact
Foodservice sales will continue to play a key role in other dairy
Plant-Based Dairy in Singapore
KEY DATA FINDINGS
Plant-based dairy continues to thrive in 2025 as consumers make healthier choices
F&N Foods continues to lead but competition intensifies
Supermarkets remained as the leading distribution channel for plant-based dairy
Plant-based dairy to continue benefiting from growth and new product development
Health and wellness set to drive growth but improvements in product quality will be key
The foodservice channel retains its importance in building awareness
The following categories and subcategories are included:
Dairy Products and Alternatives
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- Dried Baby Food
- Prepared Baby Food
- Other Baby Food
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- Liquid Standard Milk Formula
- Powder Standard Milk Formula
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- Liquid Follow-on Milk Formula
- Powder Follow-on Milk Formula
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- Liquid Growing-Up Milk Formula
- Powder Growing-Up Milk Formula
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- Liquid Special Baby Milk Formula
- Powder Special Baby Milk Formula
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- Butter
- Cooking Fats
- Margarine and Spreads
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- Spreadable Cheese
- Processed Cheese excl Spreadable
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- Packaged Hard Cheese
- Unpackaged Hard Cheese
- Soft Cheese
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- Dairy Only Flavoured Milk Drinks
- Flavoured Milk Drinks with Fruit Juice
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- Fat-free Fresh Milk
- Semi Skimmed Fresh Milk
- Full Fat Fresh Milk
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- Fat-free Shelf Stable Milk
- Semi Skimmed Shelf Stable Milk
- Full Fat Shelf Stable Milk
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- Goat Milk
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- Powder Milk
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- Sour Milk Products
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- Drinking Yoghurt
- Flavoured Yoghurt
- Plain Yoghurt
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- Chilled Dairy Desserts
- Shelf Stable Dairy Desserts
- Chilled Snacks
- Coffee Whiteners
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- Flavoured Condensed Milk
- Plain Condensed Milk
- Evaporated Milk
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- Cream
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- Flavoured Fromage Frais and Quark
- Plain Fromage Frais and Quark
- Savoury Fromage Frais and Quark
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- Soy Drinks
- Other Plant-based Milk
- Plant-based Yoghurt
- Plant-based Cheese
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This report originates from Passport, our Dairy Products and Alternatives research and analysis database.
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