Market Insights Consumer Food Dairy Products & Eggs

Other Dairy Products & Eggs - Singapore

Singapore

Revenue in the Other Dairy Products & Eggs market amounts to €0.39bn in 2024. The market is expected to grow annually by 2.90% (CAGR 2024-2029).
In global comparison, most revenue is generated in India (€46bn in 2024).
In relation to total population figures, per person revenues of €64.28 are generated in 2024.
In the Other Dairy Products & Eggs market, volume is expected to amount to 63.19m kg by 2029. The Other Dairy Products & Eggs market is expected to show a volume growth of 1.9% in 2025.
The average volume per person in the Other Dairy Products & Eggs market is expected to amount to 9.9kg in 2024.

Key regions: Japan, Philippines, United Kingdom, India, South Korea

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Analyst Opinion

The Other Dairy Products & Eggs Market in Singapore has seen minimal growth, impacted by factors such as low consumer awareness and limited availability of online services. However, the market is expected to grow due to increasing health consciousness and technological advancements in the coming years.

Customer preferences: With the rising trend of plant-based diets, consumers are increasingly turning to alternative dairy products such as almond milk, coconut yogurt, and tofu-based cheese. This shift is driven by health and sustainability concerns, as well as the growing popularity of veganism and lactose intolerance. Additionally, the demand for organic and locally-sourced dairy and egg products is on the rise as consumers become more conscious about the environmental impact of their food choices.

Trends in the market: In Singapore, there is a growing demand for plant-based dairy alternatives, such as almond milk and soy milk, driven by health and environmental concerns. This trend is expected to continue as more consumers adopt flexitarian and vegan diets. Additionally, there is a rising interest in functional dairy products, such as probiotic yogurts and lactose-free milk, as consumers become more health-conscious. This presents opportunities for industry players to innovate and cater to these evolving preferences. However, it also poses a challenge for traditional dairy companies, who may need to adapt their product offerings to stay competitive in the market.

Local special circumstances: In Singapore, the Other Dairy Products & Eggs Market is heavily influenced by the country's small land area and high population density. This has led to a focus on sustainable and efficient farming practices, such as vertical farming and urban agriculture. Additionally, the multicultural nature of Singapore's population has resulted in a diverse demand for dairy products and eggs, with a growing preference for plant-based alternatives. Strict food safety regulations also play a significant role in shaping the market, ensuring high-quality and safe products for consumers.

Underlying macroeconomic factors: The Other Dairy Products & Eggs Market of the Dairy Products & Eggs Market within The Food market in Singapore is heavily influenced by macroeconomic factors such as economic stability, consumer spending power, and government policies. The country's strong economic growth, stable political environment, and well-developed infrastructure have contributed to the growing demand for dairy products and eggs. Additionally, the government's focus on promoting healthy eating habits and increasing investments in the food industry have also supported market growth. Furthermore, Singapore's strategic location and free trade agreements have enabled the country to access a wide range of quality dairy products, further driving market growth.

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.