PROSPECTS AND OPPORTUNITIES
Shelf stable ready meals to hinder growth of meals and soups over forecast period
The meals and soups market in Singapore is expected to experience weak performance in both retail volume and value terms (at constant 2024 prices) during the forecast period, largely driven by anticipated declines in shelf-stable ready meals. These ready meals have historically dominated retail volume sales, due to their convenience and ease of preparation, especially among consumers favouring local flavours.
Cross-category expansion will help players to access wider consumer base
Cross-category expansion is set to be a significant trend in Singapore's packaged food market, and meals and soups is no exception. Well-established brands from various food and beverage sectors are branching into shelf-stable soups, revitalising a previously stagnant market.
Innovative local flavours will continue to resonate with consumers
Flavour innovation is increasingly shaping ready meals in Singapore, with a notable trend towards localisation. This strategy focuses on incorporating local ingredients and flavours such as curry, chili crab, laksa, and rendang to resonate with consumers' tastes.
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Overview:
Understand the latest market trends and future growth opportunities for the Meals and Soups 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 Meals and Soups 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 Meals and Soups 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 Meals and Soups in Singapore?
- Which are the leading brands in Meals and Soups in Singapore?
- How are products distributed in Meals and Soups 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 Meals and Soups?
- 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?
Meals and Soups in Singapore - Category analysis
KEY DATA FINDINGS
Growing demand for quick and convenient meals and soups, as players pivot towards premiumisation
Increased focus on nutrition in ready meals
Expansion of Chinese supermarkets drives wider variety and accessibility of ready meals
Shelf stable ready meals to hinder growth of meals and soups over forecast period
Cross-category expansion will help players to access wider consumer base
Innovative local flavours will continue to resonate with consumers
Cooking Ingredients and Meals in Singapore - Industry Overview
Cooking ingredients and meals in 2024: The big picture
Key trends in 2024
Competitive landscape
Channel developments
What next for cooking ingredients and meals?
DISCLAIMER
The following categories and subcategories are included:
Meals and Soups
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- Dried Ready Meals
- Shelf Stable Ready Meals
- Chilled Ready Meals
- Frozen Ready Meals
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- Dry Soup
- Shelf Stable Soup
- Chilled Soup
- Frozen Soup
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- Chilled Pizza
- Frozen Pizza
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- Meal Kits
- Quick Recipe Kits
- Chilled Lunch Kits
- Prepared Salads
Meals and Soups
This is the aggregation of ready meals, pizza, food kits, prepared salads, and soup. Includes: These are products that have had recipe 'skills' added to them by the manufacturer, resulting in a high degree of readiness, completion and convenience. Food kits is an exception where typically the extent of preparation is much shorter than other meal products; includes meal kits where consumers are to put together pre-portioned ingredients and cook with the guidance of recipe cards. Ready meals are generally accepted to be complete meals that require few or no extra ingredients. However, in the case of shelf stable ready meals, the term also encompasses meal 'centres’; for food kits, they do require a degree of cooking and preparation. As such, some meals may require cooking (ready-to-cook); others may simply need reheating, prior to serving (ready-to-eat). Excludes: Any products sold unpackaged and/or by weight, including food sold from a retail deli counter.
See all of our definitionsWhy buy this report?
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- Track key industry trends, opportunities and threats
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This report originates from Passport, our Meals and Soups research and analysis database.
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