Market Research Report on Singapore – The Future of Foodservice to 2023

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Singapore – The Future of Foodservice to 2023

Summary

“Singapore – The Future of Foodservice to 2023”, provides extensive insight and analysis of Singapore’s Foodservice market until 2023 and acts as a vital point of reference for operators or suppliers.

Singapore is widely revered as an example of free-market economic success. Despite its small population of roughly 5.7 million people, it is the thirty seventh largest economy in the world. In 2018, its nominal GDP was over US$324 billion, and it grew by approximately 3.6%1.

The Singaporean foodservice profit sector generated a total revenue of over SGD13 billion (US$10.3 billion) in 2018. The value of the sector increased at a CAGR of 4.7% during 2016-2018, however, the growth is forecast to marginally decelerate to a CAGR of 4.1% over 2018-2023.

Scope

– Growth across all profit sector channels is primarily attributed to rising transaction numbers, rather than outlet number expansion, as the city-state approaches saturation and desirable locations become increasingly sparse. This trend is expected to continue over the coming years.
– The paradigm shift towards convenience driven purchases is becoming increasingly pervasive worldwide, and Singapore is no exception.
– Growth in revenue generated from takeaway transactions is forecast to be strong in most channels.

Reasons to buy

– Specific forecasts of the foodservice market until 2023 give readers the ability to make informed business decisions through identifying emerging/declining markets.
– Consumer segmentation detailing the desires of known consumers among major foodservice channels will allow readers 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 the foodservice market.

Companies Mentioned:
McDonald’s Corporation
Yum! Brands! Inc.
Doctor’s Associates Inc.
Subway
KFC
Restaurant Brands International
Burger King
Ten & Han Trading Pte Ltd
Old Chang Kee
Ajisen Ramen
Starbucks
Toast Box
The Coffee Bean & Tea Leaf
Killiney – Kopitiam
Sarika Connoisseur Cade Pte Ltd.


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Ritesh Tiwari is the Founder of Research By Markets, a leading Market Research Reports Reseller trusted by Fortune listed companies for their requirements of Syndicated and Custom Market Research Reports. Ritesh has an overall experience of 18+ years in Recruitments, Sales and Operations. He has been associated with the Market Research industry for the past 7 years. He is an avid foodie as well as a huge football fan being a supporter of Manchester United (EPL) and FC Barcelona (La Liga). Get in touch with him via ritesh@researchbymarkets.com. *Market Research News is a part of Research By Markets.