Market Insights Consumer Food Dairy Products & Eggs

Cheese - Singapore

Singapore

Revenue in the Cheese market amounts to €59.68m in 2024. The market is expected to grow annually by 3.86% (CAGR 2024-2029).
In global comparison, most revenue is generated in the United States (€29,690m in 2024).
In relation to total population figures, per person revenues of €9.86 are generated in 2024.
In the Cheese market, volume is expected to amount to 3.38m kg by 2029. The Cheese market is expected to show a volume growth of 0.7% in 2025.
The average volume per person in the Cheese market is expected to amount to 0.5kg in 2024.

Key regions: China, South Korea, Russia, United Kingdom, India

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Analyst Opinion

The Cheese market in Singapore's Dairy Products & Eggs Market is experiencing minimal growth due to factors such as low consumer awareness and limited online presence. Despite this, there is potential for growth as health consciousness and demand for specialty cheeses continue to increase.

Customer preferences: Consumers in Singapore are showing a growing preference for artisanal and specialty cheeses, driven by the increasing popularity of gourmet and fine dining experiences. This trend is influenced by the country's diverse culinary landscape and the growing interest in food culture and exploration. Additionally, the rise in health-consciousness and the demand for natural and organic products have also led to a shift towards dairy-free and plant-based cheese alternatives. This is particularly evident among younger demographics who are more conscious of their dietary choices and environmental impact.

Trends in the market: In Singapore, the Cheese Market is experiencing a shift towards premium and artisanal cheese products, with a growing demand for unique and high-quality options. This trend is expected to continue, driven by the increasing popularity of cheese-based dishes and a growing interest in cheese as a snack. Additionally, there is a rising demand for plant-based and lactose-free cheese alternatives, reflecting a growing health consciousness and dietary restrictions. These trends present opportunities for industry stakeholders to innovate and diversify their product offerings to cater to evolving consumer preferences.

Local special circumstances: In Singapore, the Cheese Market of the Dairy Products & Eggs Market within The Food market is heavily influenced by the country's diverse cultural landscape. The demand for different types of cheese varies among the different ethnic groups, leading to a wide range of cheese products available in the market. Additionally, the strict regulations on food safety and imports in Singapore also play a significant role in shaping the market, ensuring high-quality products for consumers. Furthermore, the country's small size and high population density contribute to the demand for convenient and ready-to-eat cheese products, leading to the popularity of cheese snacks and spreads.

Underlying macroeconomic factors: The Cheese Market of the Dairy Products & Eggs Market within The Food market in Singapore is heavily influenced by macroeconomic factors such as trade policies, consumer preferences, and government regulations. The country's strong economy and stable political landscape have created a favorable environment for the growth of the dairy market. Additionally, increasing consumer awareness about healthy eating habits and the rising demand for protein-rich and nutritious food products have contributed to the growth of the cheese market in Singapore. Moreover, the government's initiatives to promote local dairy production and reduce dependency on imports have also positively impacted the market.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).

Modeling approach:

Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.