Boston, MA -- (SBWire) -- 11/18/2014 --Since more and more consumers are exposed to Western cuisine following the expansion of sophisticated Western fine-dining restaurants, Singaporean consumers are increasingly learning about cheese. There are various types of cheese available at major supermarkets and hypermarkets, where consumers are developing their sense of taste.
Competitive Landscape
Kraft Foods (S) Pte Ltd maintains the leading position with a value share of 30% in 2013 due to the strong brand presence of Kraft Singles and Philadelphia. However, the company is slightly losing the value shares, which is mainly due to the weak performance of the Kraft and Velveeta brands, while Kraft Single and Philadelphia showed the better performances in 2013.
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Industry Prospects
Cheese is expected to see a constant value CAGR of 1% over the forecast period. Since consumers are exposed to various types of international cuisine, the usage of cheese is likely to increase over the forecast period. The convenient pack format of cheese is also expected to be more accepted by consumers.
Drinking Milk Products
Due to the increasing health conscious trend, healthier types of products are more accepted by consumers. Fat free and semi-skimmed cow?s milk register faster growth than full-fat cow?s milk. While consumers are seeking the nutritious value offered by milk, they are also unwilling to consume unnecessary fat.
Competitive Landscape
Nestl? Singapore Pte Ltd retains the leading position with a 22% value share of drinking milk products in 2013. The constant strong performance is due to the Milo brand, which has the top value shares under flavoured powder milk drinks. Milo is a very popular drink in Singapore as the company continues to engage in marketing and advertising activities through TV and sponsorship of sports events, etc. Hence, consumers consider that Milo is healthier and has high nutritious value.
Industry Prospects
Due to the increasing health consciousness trend, consumers are likely to purchase healthier milk products, such as low fat milk and soy milk, etc. Since consumers generally perceive that dairy milk products have high nutritious value, they continue to drink milk in order to fulfil their daily nutritious intake. Hence, the growth of overall drinking milk products is expected to show a constant value CAGR of 1% over the forecast period.
Yoghurt and Sour Milk Drinks
Due to the new brand and product entries into Singapore over the review period, consumers have a wider choice of yoghurt products than ever before. Consumers are also aware of the health benefits of yoghurt, which is good for the digestive system and enhances the immune system. Hence, yoghurt is becoming a regular habit for some. The manufacturers are focusing on introducing more low-fat items due to the increasing health conscious trend in Singapore.
Competitive Landscape
Yakult (S) Pte Ltd retains the leading position with a 49% value share of yoghurt and sour milk products in 2013. The company is also expected to achieve the biggest increase in value sales in 2013. The company aggressively conducted the marketing campaign for Yakult Ace Light through TV adverts and tasting events at major supermarkets and hypermarkets, where leaflets were given directly to consumers and the health benefits explained to them. With such efforts and strong brand equity, Yakult is expected to see the better performance in 2013.
Industry Prospects
Since consumers are more and more aware of the health benefits gained from what they eat due to the increasing health and wellness trend, yoghurt products will continue to be popular over the forecast period. The manufacturers are also likely to introduce a wider variety products through product innovation as they consider that yoghurt to be a growth driver given the strengthening health and wellness trend.
Other Dairy
Due to the increasing health conscious trend, soy beans have gained popularity in terms of healthy and nutritious benefits. There are popular chained kiosks/stalls, offering soy-based desserts and soy drink/milk such as Mr Bean and Jollibean, which led to renewed interest in soy bean desserts in Singapore over the review period. The resurgence in popularity and interest in soy beans continue to drive the growth of chilled soy-based desserts.
Competitive Landscape
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