Singapore: Retail Foods Annual

The retail food sector is highly competitive in Singapore with no single country holding over 16 percent of the consumer-oriented products market share. Singapore’s economy is beginning to slow due to cost-of-living, inflation, and supply chain challenges. Nevertheless, high disposable income, a strong currency and government economic stimulus measures have helped to mitigate these challenges and return to pre-pandemic levels of sales in the food retail industry, with the retail food industry accumulating sales of over $11 billion USD in 2023. With a current market share of six percent, United States’ top prospective products for the Singaporean market include seafood (frozen fish and scallops), fresh fruit (including citrus and stone fruits), and pet food.