The global pet care market is foretold to improve in the forthcoming years as matched to the preceding years and will showcase better sales in various market segments. It is estimated that the global pet care market will grow at a CAGR o…
BMI View: Singapore's food and drink industry will experience modest growth throughout our forecast
period; growth will be supported by existing high levels of spending and a well developed mass grocery
retail sector. Price consciousness among consumers will limit the scope of premiumisation across the board
despite relative consumer affluence. The mass grocery retail sector will benefit from the expansion of
premium food retailing and the uptick in online retailing, however, market maturation will limit growth
throughout our forecast period.
Key Trends & Industry Developments
? Food sales (local currency) growth y-o-y in 2016: +3.7%; compound annual growth rate (CAGR)
? Per capita food sales (local currency) growth y-o-y in 2016: +2.0%; CAGR 2015-2020: +3.5%.
? Convenience is a key driver of consumer choices.