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Singapore Foodservice Market Size

The Singapore foodservice market is experiencing significant growth, with the market size expected to expand substantially over the forecast period. Quick-service restaurants hold the largest share, driven by increased fast-food consumption among both locals and tourists. The café and bar segment is also growing rapidly, fueled by the young population's preference for upscale beverages and diverse culinary experiences. Full-service restaurants are seeing a rise in dine-out frequency, as consumers seek unique dining options from various global cuisines. Additionally, cloud kitchens are gaining traction due to the surge in online food delivery, offering cost-effective and convenient solutions for consumers.

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Market Size of singapore foodservice Industry

Singapore Foodservice Market Summary
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svg icon Study Period 2017 - 2029
svg icon Market Size (2024) USD 24.88 Billion
svg icon Market Size (2029) USD 55.93 Billion
svg icon Largest Share by Foodservice Type Quick Service Restaurants
svg icon CAGR (2024 - 2029) 17.58 %
svg icon Fastest Growing by Foodservice Type Cloud Kitchen
svg icon Market Concentration Low

Major Players
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*Disclaimer: Major Players sorted in no particular order

Key Players

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Singapore Foodservice Market Analysis

The Singapore Foodservice Market size is estimated at 24.88 billion USD in 2024, and is expected to reach 55.93 billion USD by 2029, growing at a CAGR of 17.58% during the forecast period (2024-2029).

24.88 Billion

Market Size in 2024 (USD)

55.93 Billion

Market Size in 2029 (USD)

11.07 %

CAGR (2017-2023)

17.58 %

CAGR (2024-2029)

Largest Segment by Foodservice Type

67.42 %

value share, Quick Service Restaurants, 2023

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Fast-paced lifestyles and high demand for efficient service are gaining traction. The rise of delivery services is making it an attractive market for operators.

Largest Segment by Outlet Type

67.48 %

value share, Independent Outlets, 2023

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Local expertise, personalized service, and unique menu offerings contribute to ongoing success as consumers are seeking authentic and high-quality dining experience.

Fastest-growing segment by Foodservice Type

19.96 %

Projected CAGR, Cloud Kitchen, 2024-2029

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Increasing demand from consumers for a diverse range of beverage options, from light bites to artisanal cocktails uniquely positioned by cafes and bars, is driving the demand.

Fastest-growing segment by Outlet Type

18 %

Projected CAGR, Chained Outlets, 2024-2029

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Factors, such as economies of scale, standardized offerings, and efficient operations and support and resources of established parent companies, are poised for continued growth.

Leading Market Player

0.72 %

market share, Hanbaobao Pte Ltd, 2022

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As a market leader in the country, the company serves more than 70 million customers annually across more than 136 McDonald's restaurants. It popularly offers beef patties and hamburgers.

Quick service restaurants accounted for the major share of the market attributed to the increased preference for fast-food among consumers

  • Quick-service restaurants accounted for the highest market share in 2022, witnessing a hike of 25.2% in sales value from 2019 to 2022. As the number of visitors increased to over 5 million in 2022, fast-food consumption by domestic people was also high. For instance, around 40% of the population consumes fast food at least once per week. Dishes like pizza, burgers, and meat-based cuisines are gaining popularity in the country.
  • Cafes & bars are projected to witness a high CAGR value of 13.45% during the forecast period. The segment is majorly driven by the nation's young population. Young consumers prefer to visit bars to explore upscale cocktails and alcoholic beverages, along with various culinary styles. For instance, as of 2021, there were more than 2.5 million immigrant workers from different regions, Singaporeans consumed, on average, 2 liters of alcohol per person in 2022, which positively fueled the market.
  • Full-service restaurant establishments also increased by 16.4% from 2019 to 2022. The frequency of dine-out by the people in the country increased, which reached 43% of Singaporean respondents who stated they dined out several times a week in 2021. People are looking for unique dining experiences, and different cuisines, like Latin American, Middle Eastern, and European, have gained popularity in the past years.
  • Cloud kitchens are projected to witness a CAGR of 20.07% by value during the forecast period. The number of online delivery app users has increased over the past years. For instance, in 2021, around 2.8 million people used online food delivery in Singapore. People prefer ghost kitchens due to their lower prices and instant delivery with the improved packaging and acceptance of digital payments.
Singapore Foodservice Market

Singapore Foodservice Industry Segmentation

Cafes & Bars, Cloud Kitchen, Full Service Restaurants, Quick Service Restaurants are covered as segments by Foodservice Type. Chained Outlets, Independent Outlets are covered as segments by Outlet. Leisure, Lodging, Retail, Standalone, Travel are covered as segments by Location.

  • Quick-service restaurants accounted for the highest market share in 2022, witnessing a hike of 25.2% in sales value from 2019 to 2022. As the number of visitors increased to over 5 million in 2022, fast-food consumption by domestic people was also high. For instance, around 40% of the population consumes fast food at least once per week. Dishes like pizza, burgers, and meat-based cuisines are gaining popularity in the country.
  • Cafes & bars are projected to witness a high CAGR value of 13.45% during the forecast period. The segment is majorly driven by the nation's young population. Young consumers prefer to visit bars to explore upscale cocktails and alcoholic beverages, along with various culinary styles. For instance, as of 2021, there were more than 2.5 million immigrant workers from different regions, Singaporeans consumed, on average, 2 liters of alcohol per person in 2022, which positively fueled the market.
  • Full-service restaurant establishments also increased by 16.4% from 2019 to 2022. The frequency of dine-out by the people in the country increased, which reached 43% of Singaporean respondents who stated they dined out several times a week in 2021. People are looking for unique dining experiences, and different cuisines, like Latin American, Middle Eastern, and European, have gained popularity in the past years.
  • Cloud kitchens are projected to witness a CAGR of 20.07% by value during the forecast period. The number of online delivery app users has increased over the past years. For instance, in 2021, around 2.8 million people used online food delivery in Singapore. People prefer ghost kitchens due to their lower prices and instant delivery with the improved packaging and acceptance of digital payments.
Foodservice Type
Cafes & Bars
By Cuisine
Bars & Pubs
Cafes
Juice/Smoothie/Desserts Bars
Specialist Coffee & Tea Shops
Cloud Kitchen
Full Service Restaurants
By Cuisine
Asian
European
Latin American
Middle Eastern
North American
Other FSR Cuisines
Quick Service Restaurants
By Cuisine
Bakeries
Burger
Ice Cream
Meat-based Cuisines
Pizza
Other QSR Cuisines
Outlet
Chained Outlets
Independent Outlets
Location
Leisure
Lodging
Retail
Standalone
Travel
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Singapore Foodservice Market Size Summary

The Singapore foodservice market is experiencing significant growth, driven by a diverse range of dining options and a burgeoning population of young consumers. Quick-service restaurants (QSRs) dominate the market, benefiting from high fast-food consumption among locals and tourists alike. The popularity of fast-food items such as pizza, burgers, and meat-based cuisines is on the rise, supported by the increasing number of visitors and the high frequency of fast-food consumption. Cafes and bars are also witnessing robust growth, fueled by the young demographic's preference for upscale cocktails and diverse culinary experiences. Full-service restaurants are gaining traction as well, with a growing number of Singaporeans seeking unique dining experiences and exploring various international cuisines, including Latin American, Middle Eastern, and European dishes.

The market is further bolstered by the rise of cloud kitchens, which are becoming increasingly popular due to the surge in online food delivery app users. These kitchens offer cost-effective and efficient dining solutions, catering to the growing demand for convenience and quick service. The foodservice landscape in Singapore is characterized by a fragmented market with numerous outlets, including cafes, food courts, and hawker centers, which collectively account for a significant portion of the market. Asian cuisine, particularly Chinese, Indian, Japanese, and Malaysian, holds a substantial market share, reflecting the country's diverse culinary preferences. The introduction of platforms like Grabfood, Deliveroo, and Foodpanda has also contributed to the growth of online meal delivery services, further enhancing the market's expansion prospects.

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Singapore Foodservice Market Size - Table of Contents

  1. 1. MARKET SEGMENTATION (includes market size in Value in USD, Forecasts up to 2029 and analysis of growth prospects)

    1. 1.1 Foodservice Type

      1. 1.1.1 Cafes & Bars

        1. 1.1.1.1 By Cuisine

          1. 1.1.1.1.1 Bars & Pubs

          2. 1.1.1.1.2 Cafes

          3. 1.1.1.1.3 Juice/Smoothie/Desserts Bars

          4. 1.1.1.1.4 Specialist Coffee & Tea Shops

      2. 1.1.2 Cloud Kitchen

      3. 1.1.3 Full Service Restaurants

        1. 1.1.3.1 By Cuisine

          1. 1.1.3.1.1 Asian

          2. 1.1.3.1.2 European

          3. 1.1.3.1.3 Latin American

          4. 1.1.3.1.4 Middle Eastern

          5. 1.1.3.1.5 North American

          6. 1.1.3.1.6 Other FSR Cuisines

      4. 1.1.4 Quick Service Restaurants

        1. 1.1.4.1 By Cuisine

          1. 1.1.4.1.1 Bakeries

          2. 1.1.4.1.2 Burger

          3. 1.1.4.1.3 Ice Cream

          4. 1.1.4.1.4 Meat-based Cuisines

          5. 1.1.4.1.5 Pizza

          6. 1.1.4.1.6 Other QSR Cuisines

    2. 1.2 Outlet

      1. 1.2.1 Chained Outlets

      2. 1.2.2 Independent Outlets

    3. 1.3 Location

      1. 1.3.1 Leisure

      2. 1.3.2 Lodging

      3. 1.3.3 Retail

      4. 1.3.4 Standalone

      5. 1.3.5 Travel

Singapore Foodservice Market Size FAQs

The Singapore Foodservice Market size is expected to reach USD 24.88 billion in 2024 and grow at a CAGR of 17.58% to reach USD 55.93 billion by 2029.

In 2024, the Singapore Foodservice Market size is expected to reach USD 24.88 billion.

Singapore Food Service Market Report Snapshots

Singapore Foodservice Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2029