PUBLISHER: GlobalData | PRODUCT CODE: 1706666
PUBLISHER: GlobalData | PRODUCT CODE: 1706666
Singapore - The Future of Foodservice to 2029
This report provides an in-depth evaluation of the Singaporean foodservice market, including analysis of the key issues impacting on the industry. This report includes: - Consumer insight and analysis to provide a clear view of prevailing need states, trends and demands of consumers, including segmentation analysis and channel preference, all fully supported by comprehensive market data and occasions and locations analytics. - In-depth analysis of channel performance, both profit and cost sector, detailing the winning formats, with supporting analysis to provide comprehensive understanding of the reasons behind success and failure. - For each of four key profit sector channels - QSR, FSR, coffee & tea shops and pubs, clubs & bars, a deep dive into the 'who', 'why', 'what', 'where' and 'what next'. - Analysis of major market player performance, and how each player is meeting the needs of consumers and dealing with changing market demands, with supporting case studies on key menu, service and format innovations.
The profit sector in Singapore amassed SGD15.1 billion ($11.3 billion) in 2024, yielding a CAGR of 1.6% from 2019-24. Transactions yielded a CAGR of 0.1%, while the outlet count recorded a CAGR of 0.5%.
QSR was the largest food service profit sector channel in 2024, with a share of 39.4%. It was followed by FSR with a share of 23.1%.
The foodservice profit sector is expected to reach SGD18.4 billion ($13.9 billion) in 2029, registering a CAGR of 4% during 2024-29. The number of transactions will register a CAGR of 2%, while the number of outlets will generate a CAGR of 0.6% over the period. Tourism will continue to contribute to the profit sector's value growth.
Scope
Macro context:
- Understanding the wider economic and social trends within a country; key to providing background when looking into a specific industry.
Profit sector channels:
- A number of foodservice channels have been grouped together to form the "profit sector"; these include accommodation, leisure, restaurants, retail, travel, workplace, and pub, club & bar. This section will first go through overall trends in the sector, then "deep dive" into each of the four key channels. These channels are QSR, FSR, coffee & tea shop, and pub, club & bar. The report structure for each of these channels is explained below.
Cost sector channels:
- A number of foodservice channels have been grouped together to form the "cost sector"; these include education, healthcare, military & civil defense, and welfare & services. This sector typically represents the state's foodservice operators. This section of the report will go through overall trends in the sector. Profit sector sub-sections - QSR, FSR, coffee & tea shop, and pub, club & bar:
For each of these key profit sector channels, this report will "deep dive" into the performance of the channel. This will follow a summary of the channel, which will encapsulate everything within the section. The report section will then cover historic and forecast growth/decline; key players within the channel; consumer segment analysis; and a "who", "why", "what", and "where" analysis (including, for some channels, case studies to bring key discussion points to life). It will finish with a look into the key drivers of future performance.
Cost sector:
- For the overall cost sector channel, this report will provide an overview of the performance of the channel. The report section will cover historic and forecast growth/decline and will finish with a look into the data and channel share breakdown.
Reasons to Buy
- Specific forecasts of the foodservice market over the next five years (2024-29) will give readers the ability to make informed business decisions through identifying emerging/declining markets.
- Consumer segmentation detailing the desires of known consumers among all major foodservice channels (QSR, FSR, and coffee & tea shop) will allow readers understand the wants and needs of their target demographics.
Table of Contents
Table of Contents
- Introduction
- Report Guide
- Executive Summary
- Macroeconomic Context
- Macroeconomic Overview
- Trends Landscape
- Profit Sector - Consumer Behavior
- Profit Sector Metrics
- Key Metric Highlights
- Value Share and Growth by Channel
- Outlets and Transactions Growth by Channel
- Operator Buying Volumes and Growth by Channel
- Channel Historic and Future Growth Dynamics
- Outlet-Type and Owner-Type Growth Dynamics
- Profit Sector by Channel
- Quick-Service Restaurant (QSR)
- Enablers and Inhibitors of Growth
- Metrics
- Key Players
- Who?
- Why?
- What?
- Where?
- What Next?
- Full-Service Restaurant (FSR)
- Enablers and Inhibitors of Growth
- Metrics
- Key Players
- Who?
- Why?
- What?
- Where?
- What Next?
- Coffee & Tea Shop
- Enablers and Inhibitors of Growth
- Metrics
- Key Players
- Who?
- Why?
- What?
- Where?
- What Next?
- Pub, Club & Bar
- Enablers and Inhibitors of Growth
- Metrics
- Key Players
- Who?
- Why?
- What?
- Where?
- What Next?
- Cost Sector Metrics
- Cost Operator Trends - Historic and Future Growth
- Data and Channel Share Breakdown
Appendix
List of Table
List of Tables
- Profit Sector Metrics
- Restaurant outlet types: value growth (CAGR 2024-29)
- Restaurant owner types: value growth (CAGR 2024-29)
- QSR: Metrics: Growth Dynamics
- QSR: What? Food & Drink Split: Operator buying price value
- FSR: Metrics: Growth Dyn
List of Figure
List of Figures
- GDP per capita
- Consumer price inflation (%)
- Population (millions)
- Population by age group (%)
- Households' share of income distribution, 2024
- Unemployment rate, 2024
- Which of the following features has the greatest influence on your choices of products/services in the current situation? "Always or often influences my choices"
- How do you see your lifestyle evolving over the next three months - Eating out at restaurants?
- How often do you consume food and drinks at the following locations?
- How do consumers describe their spend at the following outlets?
- 2024 value sales and channel shares
- Historic and future performances (value performance)
- Historic and future outlet number dynamics
- Historic and future performances (transactions)
- Profit channels' historic and future buying volume performances (liter m)
- Profit channels' historic and future buying volume performances (kg m)
- Channel dynamics in the profit sector, 2019-24
- Channel dynamics in the profit sector, 2024-29
- Restaurant outlet types: 2024 value
- Restaurant owner types 2024: value
- QSR: Operator sales, 2024
- How often do you consume food and drinks at QSRs? By age group
- How often do you consume food and drinks at QSRs? By gender
- QSR: Annual household income distribution of frequent consumers
- Frequent consumers: In light of the rising cost of living, how have your shopping habits changed for each of the following types of product? (Eating and drinking out, on social occasions)
- Frequent consumers: How do you describe your spend on
- food/drinks at the following outlets? (QSR dine-in)
- QSR: Case Study: How important is smartphone app connectivity when deciding to make a purchase? "Essential/nice to have"
- QSR: Case Study: How important is the novel/unique feature when deciding to make a purchase? "Essential/nice to have"
- QSR: Total profit sector OSP by channel, 2024
- QSR cuisine types by number of outlets
- QSR by cuisine type, 2024 OSP
- QSR: Top cuisine by maturity - by number of outlets (listed on online platforms), 2024
- QSR: Top five food dishes' penetration in QSR, 2024
- QSR: Top 10 ingredients' penetration in QSR, 2024
- QSR: Menu items penetration by price range, 2024
- QSR: Price change analysis, 2024
- QSR by location type, 2024 (outlet count)
- QSR by location type, 2024 OSP
- FSR: Operator sales, 2024
- How often do you consume food and drinks at FSRs? By age group
- How often do you consume food and drinks at FSRs? By gender
- FSR: Annual household income distribution of frequent consumers
- Frequent consumers: In light of the rising cost of living, how have your shopping habits changed for each of the following types of product? (Eating and drinking out, on social occasions)
- Frequent consumers: How do you describe your spend on
- food/drinks at the following outlets? (FSR dine-in)
- FSR: Total profit sector OSP by channel, 2024
- FSR cuisine types by number of outlets
- FSR by cuisine type, 2024 OSP
- FSR: Top cuisine by maturity - by number of outlets (listed on online platforms), 2024
- FSR: Top five food dishes' penetration in QSR, 2024
- FSR: Top 10 ingredients' penetration in QSR, 2024
- FSR: Menu items penetration by price range, 2024
- FSR: Price change analysis, 2024
- FSR by location type, 2024 (outlet count)
- FSR by location type, 2024 OSP
- Coffee & tea shop: Operator sales, 2024
- How often do you consume food and drinks at coffee & tea shops? By age group
- How often do you consume food and drinks at coffee & tea shops? By gender
- Coffee & tea shop: Annual household income distribution of frequent consumers
- Frequent consumers: In light of the rising cost of living, how have your shopping habits changed for each of the following types of product? (Eating and drinking out, on social occasions)
- Frequent consumers: How do you describe your spend on
- food/drinks at the following outlets? (Coffee & tea shop)
- Coffee & tea shop: Menu items penetration by price range, 2024
- Coffee & tea shop: Price change analysis, 2024
- Coffee & tea shop by location type, 2024 (outlet count)
- Coffee & tea shop by location type, 2024 OSP
- Pub, Club & Bar: Operator sales, 2024
- How often do you consume food and drinks at pub, club & bars? By age group
- How often do you consume food and drinks at pub, club & bars? By gender
- Pub, Club & Bar: Annual household income distribution of frequent consumers
- Frequent consumers: In light of the rising cost of living, how have your shopping habits changed for each of the following types of product? (Eating and drinking out, on social occasions)
- Frequent consumers: How do you describe your spend on
- food/drinks at the following outlets? (Pub, Club & Bar)
- Pub, Club & Bar: Menu items penetration by price range, 2024
- Pub, Club & Bar: Price change analysis, 2024
- Pub, club & bar by location type, 2024 (outlet count)
- Pub, club & bar by location type, 2024 OSP
- Channel dynamics in the cost sector, 2019-24
- Channel dynamics in the cost sector, 2024-29
- Cost Operators: Data and Channel Share Breakdown
