PROSPECTS AND OPPORTUNITIES
Retail volume growth of processed meat is expected to remain moderate over the forecast period
With the fast-paced lifestyles of modern consumers, there is an increasing demand for convenient meal solutions. Processed meats, which are often ready to eat or require minimal preparation, are aligned well with this trend.
Meat and seafood substitutes remains niche as consumers prioritise affordability amid poor economic conditions
Meat and seafood substitutes remains a niche in Singapore, exhibiting moderate steady volume growth as the overall uptake in this category by consumers remains comparatively niche and the tough economic conditions prevailing at the end of the review period lead consumers to prioritise affordability. Nonetheless, there have been some new brand entries in meat and seafood substitutes via both the retail and foodservice channels despite the constraints on demand for meat and seafood substitutes in 2024.
Tofu to continue to see rising demand with growth in consumer interest in Chinese cuisine
Tofu and derivatives is set to see a continued increase in consumer demand as it is an essential ingredient in Chinese cuisine. In particular, fried beancurd sheet or ring roll’s popularity has surged, largely due to the hot pot trend, as well as the growing interest in mala xiang guo (spicy numbing stir-fry).
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Overview:
Understand the latest market trends and future growth opportunities for the Processed Meat, Seafood and Alternatives to Meat 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 Processed Meat, Seafood and Alternatives to Meat 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 Processed Meat, Seafood and Alternatives to Meat 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 Processed Meat, Seafood and Alternatives to Meat in Singapore?
- Which are the leading brands in Processed Meat, Seafood and Alternatives to Meat in Singapore?
- How are products distributed in Processed Meat, Seafood and Alternatives to Meat 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 Processed Meat, Seafood and Alternatives to Meat?
- 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?
Processed Meat, Seafood and Alternatives To Meat in Singapore - Category analysis
KEY DATA FINDINGS
Convenience and affordability continue to drive processed meat
Players continue to highlight health claims to drive demand within processed seafood
Opportunities for growth of chilled processed poultry through convenience channels
Retail volume growth of processed meat is expected to remain moderate over the forecast period
Meat and seafood substitutes remains niche as consumers prioritise affordability amid poor economic conditions
Tofu to continue to see rising demand with growth in consumer interest in Chinese cuisine
Staple Foods in Singapore - Industry Overview
Staple foods in 2024: The big picture
Key trends in 2024
Competitive Landscape
Channel developments
What next for staple foods?
DISCLAIMER
The following categories and subcategories are included:
Processed Meat, Seafood and Alternatives to Meat
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- Shelf Stable Processed Red Meat
- Shelf Stable Processed Poultry
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- Chilled Processed Red Meat
- Chilled Processed Poultry
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- Frozen Processed Red Meat
- Frozen Processed Poultry
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- Shelf Stable Seafood
- Chilled Processed Seafood
- Frozen Processed Seafood
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- Chilled Meat and Seafood Substitutes
- Frozen Meat and Seafood Substitutes
- Shelf Stable Meat and Seafood Substitutes
- Tofu and Derivatives
Processed Meat, Seafood and Alternatives to Meat
This is the aggregation of processed meat, processed seafood and meat and seafood substitutes.
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 Processed Meat, Seafood and Alternatives to Meat research and analysis database.
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