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Drinking Milk Products in Singapore

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    Report

  • 22 Pages
  • August 2024
  • Region: Singapore
  • Euromonitor International
  • ID: 1607356
Fresh milk is generally preferred over shelf stable milk by consumers in Singapore, with higher sales historically. This is set to continue in 2024, with fresh milk expected to account for a 57% share of total volume sales of cow’s milk. However, in retail, the share of volume sales accounted for by fresh milk is expected to be higher, at over three quarters of sales.

The Drinking Milk Products in Singapore report offers in-depth knowledge of the market at a national level, providing local insight and understanding unavailable elsewhere. In addition to the latest retail sales data 2019-2023, it identifies the leading companies, brands and retail outlets, and assesses the key trends and demographic shifts behind consumer demand and sales growth. How key trends such as health and wellness, sustainability and recovery from the pandemic are shaping the market directly informs our forecasts to 2028, clearly indicating how the market is expected to change.

Product coverage: Flavoured Milk Drinks, Milk, Powder Milk.

Data coverage: Market sizes (historic and forecasts), company shares, brand shares and distribution data.

Why buy this report?

  • Get a detailed picture of the Drinking Milk Products market;
  • Pinpoint growth sectors and identify factors driving change;
  • Understand the competitive environment, the market’s major players and leading brands;
  • Use five-year forecasts to assess how the market is predicted to develop.

Table of Contents

KEY DATA FINDINGS
2024 DEVELOPMENTS
  • Stronger retail volume performance for fresh milk than shelf stable milk in 2024
  • Extension of Nutri-grade regulations to freshly prepared beverages is implemented in late 2023, but has little impact on indulgent bubble tea
  • Functional milk sees further new product developments
PROSPECTS AND OPPORTUNITIES
  • Drinking milk products expected to face growing competition from plant-based milk
  • With stagnating retail volume growth of powder milk, manufacturers likely to focus on older consumers
  • Dairy only flavoured milk drinks targeted towards impulse occasions set to stagnate as the competition intensifies
CATEGORY DATA
  • Table 1 Sales of Drinking Milk Products by Category: Volume 2019-2024
  • Table 2 Sales of Drinking Milk Products by Category: Value 2019-2024
  • Table 3 Sales of Drinking Milk Products by Category: % Volume Growth 2019-2024
  • Table 4 Sales of Drinking Milk Products by Category: % Value Growth 2019-2024
  • Table 5 NBO Company Shares of Drinking Milk Products: % Value 2020-2024
  • Table 6 LBN Brand Shares of Drinking Milk Products: % Value 2021-2024
  • Table 7 Distribution of Drinking Milk Products by Format: % Value 2019-2024
  • Table 8 Forecast Sales of Drinking Milk Products by Category: Volume 2024-2029
  • Table 9 Forecast Sales of Drinking Milk Products by Category: Value 2024-2029
  • Table 10 Forecast Sales of Drinking Milk Products by Category: % Volume Growth 2024-2029
  • Table 11 Forecast Sales of Drinking Milk Products by Category: % Value Growth 2024-2029
DAIRY PRODUCTS AND ALTERNATIVES IN SINGAPORE
EXECUTIVE SUMMARY
  • Dairy products and alternatives in 2024: The big picture
  • Key trends in 2024
  • Competitive landscape
  • Channel developments
  • What next for dairy products and alternatives?
MARKET DATA
  • Table 12 Sales of Dairy Products and Alternatives by Category: Value 2019-2024
  • Table 13 Sales of Dairy Products and Alternatives by Category: % Value Growth 2019-2024
  • Table 14 NBO Company Shares of Dairy Products and Alternatives: % Value 2020-2024
  • Table 15 LBN Brand Shares of Dairy Products and Alternatives: % Value 2021-2024
  • Table 16 Penetration of Private Label by Category: % Value 2019-2024
  • Table 17 Distribution of Dairy Products and Alternatives by Format: % Value 2019-2024
  • Table 18 Forecast Sales of Dairy Products and Alternatives by Category: Value 2024-2029
  • Table 19 Forecast Sales of Dairy Products and Alternatives by Category: % Value Growth 2024-2029
DISCLAIMER
SOURCES
  • Summary 1 Research Sources