Lewes, DE -- (SBWIRE) -- 03/10/2014 -- The Singaporean consumer outlook remains steady as the city-state continues to push for economic momentum. With unemployment low and private consumption stable, the Singapore consumer sector continues to look strong. The Singaporean economy has shown some nascent signs of life lately, with a strong services sector powering real GDP growth to a surprise 5.1% year-on-year performance in Q313. As a result of the economy's better than expected performance, as well as material revisions to H113 figures, we have upgraded our full-year real GDP 2013 forecast to 3.6% from 3.1% previously. That said, we believe that a somewhat middling external demand picture will likely effect a modest slowdown from the current pace of growth in 2014, and therefore retain our 3.2% forecast for the year.
Headline Industry Data (local currency)
>> 2014 food consumption = +1.9%; compound annual growth rate (CAGR) forecast 2014 to 2018 = +1.7%
>> 2014 alcoholic drink value sales = +7.1%; CAGR forecast 2014 to 2018 = +5.4%
>> 2014 soft drink value sales = +3.2%; CAGR forecast 2014 to 2018 = +1.9%
>> 2014 mass grocery retail sales = +2.7%; CAGR forecast 2014 to 2018 = +2.3%
Heineken To Enter Singapore Soft Drinks Market: Global brewer Heineken will begin to market soft drinks in Singapore following Fraser & Neave's decision not to act on a non-compete clause signed between the two companies in January. In late 2012, Heineken bought Fraser & Neave's stake in Malaysia-based Asia Pacific Breweries for US$4.1bn. As part of the deal, Heineken signed an agreement not to manufacture, distribute or sell soft drinks in Singapore for two years from the completion of the acquisition. Fraser & Neave has since stepped aside and allowed Heineken to enter into the market, which is currently dominated by the Singaporean company.
For full report TOC and pricing, please visit : http://www.marketresearchreports.com/business-monitor-international/singapore-food-and-drink-report-q2-2014
Browse our huge collection of food and beverages reports: http://www.marketresearchreports.com/food-beverages
Browse more reports from Singapore Industry at: http://www.marketresearchreports.com/countries/singapore
About Market Research Reports, Inc.
Market Research Reports, Inc. is the world's leading source for market research reports and market data. We provide you with the latest market research reports on global markets, key industries, leading companies, new products and latest industry analysis & trends.
For regular industry updates subscribe to our newsletter at:http://www.marketresearchreports.com/subscribe-to-newsletter
Follow us on YouTube : http://www.youtube.com/user/MarketResearchReport