PROSPECTS AND OPPORTUNITIES
Flat performance for other hot drinks as market shifts focus to adult consumers
The market for other hot drinks in Singapore is expected to see flat performance in retail volume terms over the forecast period, reflecting ongoing shifts in consumer behaviour and demographics. Traditionally, malt-based hot drinks like Milo and Horlicks have been popular among children, with brands positioning these drinks as nutritious, tasty options.
Health and wellness trends and limited innovation will impact chocolate-based drinks
In line with the growing health and wellness trends, an increasing number of consumers in Singapore are seeking lower-sugar options and more sophisticated flavours in their beverage choices. Traditional hot chocolate drinks, which are often high in sugar and associated with indulgence, are gradually being replaced by products featuring better-for-you ingredients.
Consolidation will continue to define the market
The other hot drinks sector in Singapore is expected to remain highly consolidated over the forecast period, with limited changes in market dynamics. Malt-based hot drinks will continue to dominate the category, with Milo holding a dominant market share.
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Overview:
Understand the latest market trends and future growth opportunities for the Other Hot Drinks 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 Other Hot Drinks 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 Other Hot Drinks 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 Other Hot Drinks in Singapore?
- To what extent are health considerations impacting consumption of Other Hot Drinks in Singapore?
- What are the traditional preferences in Other Hot Drinks in Singapore? To what extent are these tastes changing amidst increasing international influence and the growth of chained cafés?
- How are changing demographics (for example, an ageing or predominantly young population) determining consumption of Other Hot Drinks in Singapore?
- Which are the leading brands in Other Hot Drinks in Singapore?
- How are products distributed in Other Hot Drinks in Singapore?
- How is the rise of e-commerce changing the retail and competitive landscape?
- Have home seclusion and social distancing measures following COVID-19 benefited sales of Other Hot Drinks?
- Where is future growth expected to be most dynamic?
Other Hot Drinks in Singapore - Category analysis
KEY DATA FINDINGS
Health concerns and rise of alternative beverages lead to decline in retail demand, but foodservice sales continue to thrive
Rising cocoa and sugar prices impact production costs
Leading brands target impulse consumption through RTD offerings
Flat performance for other hot drinks as market shifts focus to adult consumers
Health and wellness trends and limited innovation will impact chocolate-based drinks
Consolidation will continue to define the market
Hot Drinks in Singapore - Industry Overview
Hot drinks in 2024: The big picture
2024 key trends
Competitive landscape
Retailing developments
Foodservice vs retail split
What next for hot drinks?
DISCLAIMER
The following categories and subcategories are included:
Other Hot Drinks
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- Chocolate-based Flavoured Powder Drinks
- Malt-based Hot Drinks
- Non-Chocolate-based Flavoured Powder Drinks
- Other Plant-based Hot Drinks
Other Hot Drinks
This is the aggregation of Flavoured Powder Drinks and Other Plant-based Powder Drinks. Products can be served hot or cold, and can be mixed with water, milk, or other liquids. Bottled, ready-to-drink flavoured milk drinks are NOT included here and are included in Passport Packaged Food.
See all of our definitionsWhy buy this report?
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This report originates from Passport, our Other Hot Drinks research and analysis database.
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