PROSPECTS AND OPPORTUNITIES
Plant-based dairy products and alternatives showing strong potential for growth and development
There is expected to be a growing demand for plant-based milk over the forecast period as increasing numbers of local consumers respond positively to products such as soy, almond, and oat milk. Soy milk is widely used in many Asian countries in foodservice and retail, contributing to its prominence in local culture.
Probiotic remains an important claim among those looking to improve their gut health
An increasing number of local consumers are set to turn towards food and drink products that offer fortification or functionality as these are increasingly seen as a way to improve long-term health outcomes and provide immune support. Habits adopted during the pandemic are expected to continue as consumers look to review and change their diets in an attempt to stay healthy.
Cardiovascular health set to gain momentum as consumers seek dairy products with specific health benefits
Concerns over the development of non-communicable diseases such as cancer, diabetes and cardiovascular disease are causing more consumers to reflect on the effect diet has on long-term health outcomes. This in turn is likely to make consumers more inclined to invest in dairy products and alternatives that are not only perceived to be healthier but which also carry specific health claims such as bine and joint health, brain health and memory, and cardiovascular health.
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Overview:
Understand the latest market trends and future growth opportunities for the HW 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.
If you're in the HW 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 HW 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 HW Dairy Products and Alternatives in Singapore?
- What are the key health and wellness concerns driving sales in HW Dairy Products and Alternatives?
- Is HW Dairy Products and Alternatives a dynamic niche or mainstream concern in Singapore?
- Which are the leading brands in HW Dairy Products and Alternatives in Singapore?
- How are products distributed in HW Dairy Products and Alternatives in Singapore?
- How has COVID-19 and accordant recession impacted sales? Which categories have seen rising demand? Which are most vulnerable to economic disruption and diminished consumer confidence?
- Where is future growth expected to be most dynamic?
HW Dairy Products and Alternatives in Singapore - Category analysis
KEY DATA FINDINGS
New Nutri-Grade labelling requirement promotes reformulation and brand extensions
Consumers turn to fortified/functional dairy products to improve their nutritional intake
Skin health rises in significance within health and wellness dairy products and alternatives in 2023
Plant-based dairy products and alternatives showing strong potential for growth and development
Probiotic remains an important claim among those looking to improve their gut health
Cardiovascular health set to gain momentum as consumers seek dairy products with specific health benefits
Health and Wellness in Singapore - Industry Overview
Health and wellness in focus
Consumer weight trends
Consumer diet trends
Health-related deaths
Blood pressure and cholesterol levels
Diabetes prevalence
DISCLAIMER
HW Dairy Products and Alternatives
Health and Wellness encompasses a number of key claims made on a food or drink products that suggest a health and/or wellness positioning. It comprises positionings relating to better for you, dietary and free from, fortified/functional, health benefit, natural and organic. This is the aggregation of baby food and dairy and plant-based dairy For full product category definitions please refer to the definitions section (can be found under the "Help" section on Passport) for the respective system: Cooking Ingredients and Meals, Dairy Products and Alternatives, Snacks, Staple Foods, Hot Drinks, Soft Drinks. Please note that data is not available at this level or other aggregated claim levels.
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 HW Dairy Products and Alternatives research and analysis database.
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