Singapore Canned Food Market Insights Forecasts to 2033

• The Singapore Canned Food Market Size was valued at USD 2.01 Billion in 2023.
• The Market is Growing at a CAGR of 8.93% from 2023 to 2033
• The Singapore Canned Food Market Size is Expected to reach USD 4.73 Billion by 2033

The Singapore Canned Food Market Size is anticipated to exceed USD 4.73 Billion by 2033, Growing at a CAGR of 8.93% from 2023 to 2033. The increasing disposable income, changing lifestyle, busy schedules, rapid urbanization, and versatility of canned products are driving the growth of the canned food market in Singapore.     

Market Overview

Canned food is preserved food packed in an airtight container by canning. These canned foods are comprised of a range of food groups including meat, fruit, vegetables, cereals, and dairy products. A convenient and long-lasting food option, canning increases the food's shelf life to one to five years. There is a vast array of options, ranging from fruits and vegetables to fish and legumes. Even though some canned foods have added sugar or sodium, they can still be a component of a balanced diet. Customers are looking for quick and easy dinner options without sacrificing quality as their lives get busier. Utilizing natural vegetable raw materials in the method used to produce canned meat enhances digestibility, enriches goods with useful substances, and enables compliance with the physiological standards of a balanced diet. The increasing dependency on these products due to hygiene and convenience is accelerating the market growth. Another important factor driving canned food's market expansion is its widespread availability in the region.

Report Coverage

This research report categorizes the market for the Singapore canned food market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Singapore canned food market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the Singapore canned food market.

Driving Factors

As per a report by FocusEconomics, in the ten years leading up to 2022, the Canadian economy's average growth rate for disposable income was 4.3%. The growth in disposable income in 2022 was 5.3%. The fast-paced lifestyle of modern consumers seeking quick meal solutions is propelling the market for canned food. Canned food provides a plethora of culinary options, ranging from pantry essentials to cuisines and time-saving efficiency.

Restraining Factors

The limited local sourcing and enhanced geopolitical tension in the country are challenging the Singapore canned food market.

Market Segmentation

The Singapore Canned Food Market share is classified into product type, type, and distribution channel.

• The canned meat & seafood segment is anticipated to hold the largest market share during the forecast period.

The Singapore canned food market is segmented by product type into canned meat & seafood, canned fruit & vegetables, canned ready meals, and others. Among these, the canned meat & seafood segment is anticipated to hold the largest market share during the forecast period. Canned meat either raw or cooked, and for long-term storage, it is typically diced and processed into cans. It's a great nutritional alternative because it provides a lot of vital nutrients like fiber, proteins, and omega-3 fatty acids.

• The conventional segment accounted for the largest market share during the forecast period.

The Singapore canned food market is segmented by type into organic and conventional. Among these, the conventional segment accounted for the largest market share during the forecast period. It is less expensive to create conventional canned foods than organic ones. Further, the ease of accessibility of conventional canned foods is driving the market growth in the conventional segment.

• The supermarkets & hypermarkets segment dominated the Singapore canned food market during the forecast period.       

Based on the distribution channel, the Singapore canned food market is divided into supermarkets & hypermarkets, convenience stores, e-commerce, and others. Among these, the supermarkets & hypermarkets segment dominated the Singapore canned food market during the forecast period. The wide selection of canned food in various brands and price ranges at supermarkets and hypermarkets improves the shopping experience for customers. The introduction of innovative stores by major companies for offering frictionless shopping experiences is driving the market.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the Singapore canned food market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Ayam Brand
• Del Monte Pacific Limited
• Nestlé S.A.
• Fraser & Neave, Limited
• Heinz
• Campbell Soup Company
• Conagra Brands, Inc.
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In September 2022, Pacific Foods is giving soup lovers 14 more organic reasons with the introduction of canned ready-to-eat hearty soups and plant-based chilis in infinitely recyclable non-BPA lined packaging.

Market Segment

This study forecasts revenue at Singapore, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Singapore Canned Food Market based on the below-mentioned segments:

Singapore Canned Food Market, By Product Type

• Canned Meat & Seafood
• Canned Fruit & Vegetables
• Canned Ready Meals
• Others

Singapore Canned Food Market, By Type

• Organic
• Conventional

Singapore Canned Food Market, By Distribution Channel

• Supermarkets & Hypermarkets
• Convenience Stores
• E-Commerce
• Others