Singapore: Food Service - Hotel Restaurant Institutional
Link to report:
Singapore has a highly developed and competitive hotel, restaurant and institutional (HRI) industry that is traditionally fueled by robust tourism and consumer spending. However, due to the global COVID-19 pandemic and ensuing travel/movement restrictions, the HRI sector is currently experiencing a major drop in business. As there is minimal local agricultural production, the country’s HRI sector is highly dependent on imports for its food and beverage requirements. In 2019, the country’s tourist receipts topped $20.5 billion USD, of which $2 billion USD was derived from food and beverage sales. Top U.S. product prospects for the Singaporean HRI industry include dairy, fresh & processed fruit, pork, poultry, and snack foods.
