Singapore Market Trends

The F&B industry has gone a long way for a small city such as Singapore. Evolving consumer habits and operating landscape have kept such F&B operators at their toes over the past decades. Below are the latest trends in the consumers’ segment and it is paramount for food operators and food distributor in Singapore to take notice of and to cater for these needs into the future.

1. Healthier Alternatives

Consumers are trying to achieve a balanced diet by eating more healthily and exploring alternative health products. It was also reported that there has been an increase in vegan claims over the last 5 years. Bakery is one of the industries that can seek product innovation in this area. Across Asia Pacific, Australia is leading the way in this trend. Singapore and Thailand are the leading countries within Southeast Asia.

2. Brand Story

Consumers today are looking at the stories behind every product, telling about their origin, ingredients or inspiration. Although there will still be doubts when similar claims are

being made by legitimately hand-crafted products along with mass-produced products, consumers are still buying into the stories that brands are telling them. Some of the Brand Story of the products are able to deliver a special and exclusive feeling to consumers.

3. Visual Eating

With the growing technology, consumers are now more active on social media and food is often the main focus of the posts. More and more consumers would like to share their experiences and the reason they choose to capture picture of the food online. Innovation surrounding colours, shapes and including the element of playfulness in product is suggested. At the same time, brands can also add in health element into such innovation.

4. Changing Lifestyles

With the increasing trend of consumers living in single-person households or eating meals alone, brands today need to provide appropriate-sized products and packaging, together with promotions to erode the social stigma of dining solo. With the growth of online services and internet penetration, businesses are now tapping on this platform to develop new e-commerce solutions, such as online ordering, for consumers. Consumers can now access to deals and niche food and drinks products via such platforms too.

Asian millennials are reportedly to have more spending power than any previous generations in times to come, it is estimated that their disposable income to be $6 trillion by 2020. As such, constant improvements for local food distributor like Oregano Trading, SSKim will serve them well into the future and to ensure business sustainability.

As a food trading company in Singapore, it is extremely challenging to grow and sustain. The market is small and overseas competitors are taking a market share. A wholesale food Singapore has to think out of the box, adding value to her products and services eg cutting, marinating and special storage. A spices supplier in Singapore should also bring in extraordinary types and brands to cater to the needs of the market.

Singapore, surrounded by the sea has many ships coming in and out of Singapore. A lot of the established wholesale food supplier Singapore are also sending ship provisions supply Singapore to this industry.