The burgeoning health and wellness trend coupled with increased government regulations and initiatives is expected to have a growing influence on the future development of snacks in Singapore. Over the forecast period, there is projected to be greater investment in product innovation while there could also be further brand collaborations spurred on by the increasing consumer demand for healthier snacks.
Vegan, vegetarian and plant-based snacks are expected to increase popularity in Singapore over the forecast period. There is a growing perception that following a plant-based diet is better for your health and therefore an increasing number of consumers are reducing their intake of meat and dairy-based products, with the latter also linked to the high percentage of the population which are lactose intolerant.
Increasing awareness of the links between diet, a healthy metabolism and immune health is expected to encourage more consumers to look for snacks that claim to offer specific health benefits. For instance, brain health and memory, which is a health benefit type of health and wellness attribute, is anticipated to record growth in snacks over the forecast period, albeit sales remained negligible in 2023.
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Understand the latest market trends and future growth opportunities for the HW Snacks industry in Singapore with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the HW Snacks industry in Singapore, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
This report originates from Passport, our HW Snacks research and analysis database.
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