Singapore - The Future of Foodservice to 2021

  • ID: 4382353
  • Report
  • Region: Singapore
  • 131 pages
  • GlobalData
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FEATURED COMPANIES

  • KFC
  • Killiney Kopitiam
  • McDonald's
  • Old Chang Kee
  • Starbucks
  • Subway
  • MORE
Singapore - The Future of Foodservice to 2021

Summary

Singapore is widely revered as an example of free-market economic success. Despite its small population of roughly 5.5 million people, it is the thirty seventh largest economy in the world. In 2016, its nominal GDP was over USD$ 290 Billion in 2016, and grew by approximately 2.0%. The country has one of the world's lowest unemployment rates, at 2.1% in 2016. GDP per capita is over USD$ 50,000, and Singapore’s purchasing power parity value ranked fourth highest on the IMF global PPP list. This can be attributed to Singapore’s extensive trade network.

Singaporean foodservice profit sector generated a total revenue of over SGD 12 Billion (USD $8.9 Billion) in 2016. The value of the sector increased at a CAGR of 3.7% from 2014-2016, and growth is forecast to accelerate marginally to a CAGR of 3.9% during 2016-2021.

QSR channel generates the largest revenue out all profit sector channels in Singapore. In 2016, its total sales value was approximately SGD 5.4 Billion, and accounted for 43.2% of the total revenue generated in the foodservice profit sector. The channel grew at a CAGR of 3.8% between 2014 and 2016, and is forecast a marginally accelerated CAGR of 3.9% during 2016-2021.

Although over 20% of QSR outlets are owned by chain operators, which generate roughly a third of the channel revenue, the Singaporean QSR market is still relatively fragmented compared to other countries. This can be partially attributed to the large presence of hawker centres, large food courts that host a variety of independent operators and different cuisines.

At a market valuation of SGD 3.0 Billion in 2016, the FSR channel represents the second largest foodservice channel, accounting for 24.5% of the overall revenue generated within the profit sector. Between 2014 and 2016, FSR experienced the fastest value growth across the profit sector, with sales value reaching a CAGR of 4.0%. It is forecast a marginally accelerated CAGR of 4.3% during 2016-2021, retaining its position as the fastest growing channel.

Coffee and tea shop channel is the most consolidated major channel in the foodservice profit sector. Chain operators represented over 40% of the number of outlets and just fewer than 60% of the total revenue generated within the channel. However, forecasts indicate that the rate of revenue growth from independent operators will match that of chain operators.

The report "Singapore - The Future of Foodservice to 2021" provides extensive insight and analysis of the Singaporean Foodservice market over the next five years (2016-2021) and acts as a vital point of reference for operators or suppliers.

In particular, this report provides the following:
  • Overview of Singapore's macro-economic landscape: Detailed analysis of current macro-economic factors and their impact on Singapore's foodservice market including GDP per capita, consumer price index, population growth and annual household income distribution.
  • Growth Dynamics: In-depth data and forecasts of four key channels (QSR, FSR, Coffee and Tea Shops, and Pubs, Clubs and Bars) within Singapore's foodservice market, including the value of the market, number of transactions, number of outlets and average transaction price.
  • Customer Segmentation: identify the most important demographic groups, buying habits and motivations that drive out-of-home meal occasions among segments of the Singaporean population.
  • Key Players: Overview of market leaders within the four major channels including business descriptions and number of outlets.
  • Case Studies: Learn from examples of recent successes and failures within the Singaporean foodservice market.
Companies mentioned in this report: McDonald's, KFC, Subway, Old Chang Kee, Ya Kun Kaya Toast, Starbucks, Toast Box, The Coffee Bean & Tea Leaf, Killiney Kopitiam

Scope
  • Singapore has a particularly prominent QSR channel, accounting for 43.2% of the foodservice sector's total sales value. The channel is relatively fragmented, primarily due to the large presence of hawker centers, each of which house a wide array of stalls selling relatively inexpensive food.
  • Despite its dominance in the foodservice sector, the QSR channel is forecast to be one of the fastest rates of sales value growth during 2016-2021. Some QSR operators are beginning to position themselves as more upmarket, with higher quality menu items at a standard reminiscent of the FSR channel, and a dine-in atmosphere which is halfway between QSR and FSR.
  • Over half of surveyed consumers stated that they prefer drinking alcohol at home instead of in a pub, club or bar. In addition, a third of consumers claimed to not consume alcohol. It is expected that the increasing popularity of 'third wave coffee', as seen in other mature foodservice markets, will result in a shift towards a greater number consumers socializing in the coffee and tea shop channel.
Reasons to buy
  • Specific forecasts of the foodservice market over the next five years (2016-2021) 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, Coffee and Tea Shops, and Pubs, Clubs and Bars) will allow readers to understand the wants and needs of their target demographics.
  • Relevant case studies will allow readers to learn from and apply lessons discovered by emerging and major players within Singapore's foodservice market.
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Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • KFC
  • Killiney Kopitiam
  • McDonald's
  • Old Chang Kee
  • Starbucks
  • Subway
  • MORE
Introduction
Report Guide
Executive Summary

Macroeconomic Context
GDP and Consumer Price Index
Population and demographic highlights
Annual household income distribution

Introducing the Consumer Segments
Consumer segment profiles and key identification metrics
Segment engagement overview in four key profit sector channels

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 type of ownership growth dynamics

Profit Sector by Channel

Quick Service Restaurants (QSR)
Summary and key take-out
Metrics
Key players
Key consumers
Why?
What?
Where?
What next?

Full Service Restaurants (FSR)
Summary and key take-out
Metrics
Key consumers
Why?
What?
Where?
What next?

Coffee and Tea Shops
Summary and key take-out
Metrics
Key players
Key consumers
Why?
What?
Where?
What next?

Pubs, Clubs and Bars
Summary and key take-out
Metrics
Key consumers
Why?
What?
Where?
What next?

Cost Sector Metrics
Cost operator trends - historic and future growth
Data and channel share breakdown

Appendix
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  • McDonald's
  • KFC
  • Subway
  • Old Chang Kee
  • Ya Kun Kaya Toast
  • Starbucks
  • Toast Box
  • The Coffee Bean & Tea Leaf
  • Killiney Kopitiam
Note: Product cover images may vary from those shown
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Note: Product cover images may vary from those shown
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