PROSPECTS AND OPPORTUNITIES
Full-service restaurants face a challenging future but possibilities still remain
Full-service restaurants are expected to see a challenging future with prevailing economic uncertainty on one hand and a growing focus on outbound travel on the other, with these trends having the potential to undermine growth. Additionally, value focused purchasing decisions are still expected to persist in the future, due to uncertainties in the global economic outlook, possible further increases in GST, and elevated inflation.
Full-service restaurants in Singapore struggle with rising operating costs
Full-service restaurants in Singapore continue to struggle with rising operating costs, which was linked to manpower shortages and rising rents, among other factors. Operators are finding it challenging to attract individuals willing to work in restaurants given Singapore’s low unemployment rate.
Korean and Japanese full-service restaurants could be key to growth
The K-wave trend is unlikely to slow down over the forecast period, with interest in Korean cuisine being driven in part by the mass proliferation of Korean media such as K-Pop, K-Dramas, and K-Movies. As such, Singapore saw more chained Korean full-service restaurants enter the local landscape in 2024, as they saw the potential to capitalise on this growing demand for all things Korean.
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Overview:
Understand the latest market trends and future growth opportunities for the Full-Service Restaurants 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.
If you're in the Full-Service Restaurants 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 Full-Service Restaurants 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 Full-Service Restaurants in Singapore?
- Which are the leading brands in Full-Service Restaurants in Singapore?
- How are multinational and local operators competing and expanding in Singapore?
- How are consumer lifestyle trends and eating habits shaping Full-Service Restaurants in Singapore?
- How is the Full-Service Restaurants industry adapting to a post-COVID-19 market environment? Where are the opportunities amidst the challenges?
- How significant are health considerations in shaping the future of Full-Service Restaurants in Singapore? Which of these trends hold the greatest potential demand?
- Where is future growth expected to be most dynamic?
Full-Service Restaurants in Singapore - Category analysis
KEY DATA FINDINGS
2024 a challenging year for full-service restaurants amidst headwinds
Asian full-service restaurants sales rise off the back of new Chinese entrants
Competition becoming polarised as players target different ends of the market
Full-service restaurants face a challenging future but possibilities still remain
Full-service restaurants in Singapore struggle with rising operating costs
Korean and Japanese full-service restaurants could be key to growth
Consumer Foodservice in Singapore - Industry Overview
Consumer foodservice in 2024: The big picture
2024 key trends
Competitive landscape
Independent foodservice developments
What next for consumer foodservice?
DISCLAIMER
The following categories and subcategories are included:
Full-Service Restaurants
- Chained Full-Service Restaurants
- Independent Full-Service Restaurants
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- Chained Asian Full-Service Restaurants
- Independent Asian Full-Service Restaurants
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- Chained European Full-Service Restaurants
- Independent European Full-Service Restaurants
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- Chained Latin American Full-Service Restaurants
- Independent Latin American Full-Service Restaurants
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- Chained Middle Eastern Full-Service Restaurants
- Independent Middle Eastern Full-Service Restaurants
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- Chained North American Full-Service Restaurants
- Independent North American Full-Service Restaurants
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- Chained Pizza Full-Service Restaurants
- Independent Pizza Full-Service Restaurants
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- Chained Other Full-Service Restaurants
- Independent Other Full-Service Restaurants
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Full-Service Restaurants
FSR (full-service restaurants) encompasses all sit-down establishments where the focus is on food rather than on drink. FSR is characterized by table service and a relatively higher quality of food compared to quick-service units. Menus offer multiple selections and may include breakfast, lunch and dinner. Preparation of food products is often complex and involves multiple steps. NOTE: restaurants types catalogued in this segment refer to table-service only (outlets with a proper “full table service:” wait staff attending customers and taking orders at the tables). Outlets with “limited table service” are excluded from FSR. For example: outlets where customers order their food at the counter are excluded (even though the waiter will then bring the food at the table).
See all of our definitionsWhy buy this report?
- 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
This report originates from Passport, our Full-Service Restaurants research and analysis database.
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