Singapore Food and Drink Report Q2 2010
Business Monitor International, February 2009, Pages: 64
Singapore Food and Drink Report provides industry professionals and strategists, corporate analysts, food and drink associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on Singapore's food and drink industry.
Although Singapore has been badly affected by the global slowdown, the recession is not expected to have any lasting impact on the country and recovery appears to be underway. The authors are projecting that real GDP growth will recover to 3.9% in 2010 (compared to 3.2% previously). The improving economic outlook will likely have a positive impact on the country’s food, drink and mass grocery retail sectors, and this is already starting to be seen in some of the results posted this quarter, as discussed in the recently published Singapore Food and Drink Report for Q210.
Singapore’s leading cocoa ingredients and chocolate confectionery manufacturer, Petra Foods, is one such company posting positive results. For the nine-month period ending September 30 2009, the company reported that revenue had risen 7.4% year-on-year (y-o-y) to US$895.3mn while net profit had surged an impressive 35.5% to US$15.3mn.
Meanwhile, the country’s drinks producers have also reported solid results this quarter. Singapore-based beer giant Asia Pacific Breweries (APB), the joint venture company of Singapore's Fraser & Neave and Dutch behemoth Heineken, announced that for the financial year ending September 2009 revenue rose 2.1% y-o-y to SGD2.04bn (US$1.47bn) while profit before exceptional items climbed 19.7% to SGD158mn (US$114.2mn). While these results are not sensational, they can be viewed as a success given the context in which they were achieved; consumer confidence was low and many of the brewer’s key geographical operating segments were facing severe economic slowdown or recession.
Moving to the mass grocery retail (MGR) sector, French hypermarket chain Carrefour announced in December that it planned to open six to eight supermarkets and a hypermarket in suburban areas over the next three years. The retailer is hoping to take advantage of the forecast increase in value sales through MGR outlets, which are expected to increase 25.3% to reach SGD5.1bn in 2014. Despite Singapore being renowned as a completely saturated market, the hypermarket sector within the country is still very immature and this coupled with its immense profitability makes it hugely appealing. Average sales per hypermarket were estimated to be SGD66.7mn in 2008 and so the addition of just one hypermarket will provide a huge boost to Carrefour’s sales.
As consumer confidence continues to grow on the back of economic recovery the longer-term outlook for Singapore’s food, drink and retail sectors remains positive.
Executive Summary
SWOT Analysis
Singapore Food Industry SWOT
Singapore Drink Industry SWOT
Singapore Mass Grocery Retail Industry SWOT
Business Environment Ratings
Core Global Industry Views
Table: BMI’s Core Views For The Food & Drink Industry
Asia Pacific Business Environment Ratings
Table: Regional Food & Drink Business Environment Ratings Q2 2010
Singapore’s Food & Drink Business Environment Rating
Macroeconomic Outlook
Singapore – Economic Activity
Food
Industry Forecast Scenario
Food Consumption
Table: Food Consumption Indicators – Historical Data & Forecasts
Canned Food
Table: Canned Food Value/Volume Sales – Historical Data & Forecasts
Confectionery
Table: Confectionery Value/Volume Sales – Historical Data & Forecasts
Organics
Table: Organic Food Value Sales – Historical Data & Forecasts
Table: Per Capita Consumption of Organic Food – Historical Data & Forecasts
Trade
Singapore Food & Drink Trade Indicators – Historical Data & Forecasts
Food Processing
Table: Food Production Indicators - Historical Data & Forecasts
Industry Developments
Market Overview
Agriculture
Food Processing
Drink
Industry Forecast Scenario
Hot Drinks
Table: Hot Drink Value Sales – Historical Data & Forecasts
Alcoholic Drinks
Table: Alcoholic Drinks Value/Volume Sales – Historical Data & Forecasts
Soft Drinks
Table: Soft Drinks Value/Volume Sales – Historical Data & Forecasts
Industry Developments
Market Overview
Soft Drinks
Alcoholic Drinks
Hot Drinks
Mass Grocery Retail
Industry Forecast Scenario
Table: Singapore Mass Grocery Retail Indicators (US$bn) – Historical Data & Forecasts By Format
Grocery Retail Sales by Format - Historical Data & Forecasts
Industry Developments
Market Overview
Structure of Singapore's Mass Grocery Retail Market by Estimated Number of Outlets
Structure of Singapore's Mass Grocery Retail Market by Value (US$bn)
Structure of Singapore's Mass Grocery Retail Market by Value (SGDbn)
Estimated Average Sales per Outlet by Format, 2008
Competitive Landscape
Key Players in Singapore's Food & Drinks Sector, 2008
Key Players in Singapore Mass Grocery Retail Sector, 2008
Company Analysis
Food
Petra Foods
Singapore Food Industries (SFI)
Drink
Asia Pacific Breweries (APB)
Fraser & Neave (F&N)
Mass Grocery Retail
NTUC FairPrice
Sheng Siong
Appendix
Country Snapshot: Singapore Demographic Data
Section 1: Population
Table: Demographic Indicators, 2005-2030
Table: Rural/Urban Breakdown, 2000-2030
Section 2: Education And Healthcare
Table: Education, 2000-2004
Table: Vital Statistics, 2005-2030
Section 3: Labour Market And Spending Power
Table: Employment Indicators, 2001-2006
Table: Consumer Expenditure, 2000-2012 (US$)
Methodology
Food & Drink Business Environment Ratings
Ratings Methodology
Ratings Overview
Ratings System
Indicators
Limits Of Potential Returns
Risks To Realisation Of Potential Returns
Weighting
Weighting
Food & Drink Industry Glossary
Food & Drink
Mass Grocery Retail
Food & Drink Forecasting & Sourcing
How We Generate Our Industry Forecasts
Sourcing
- Petra Foods
- Singapore Food Industries (SFI)
- Asia Pacific Breweries (APB)
- Fraser & Neave (F&N)
- NTUC FairPrice
- Sheng Siong
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