23 Jan Export Market Profile – Singapore
Market Profile – Singapore
Singapore is dynamic and business oriented, has a strong and sophisticated economy and is the major regional hub for multinational businesses operating in Asia. Regarded as a rapidly growing “developed country”, Singapore is a key cornerstone to regional development and has a key role to play in driving the ASEAN growth.
Austrade services – Singapore
Every market is different. But wherever you want to do business, local knowledge goes a long way. Whether in Australia or through one of our offices around the world, Austrade can give you the experience, insights and contacts you need to make your expansion a success.
Austrade can help you:
- Understand the market – Better understand the market you’re thinking of entering, or discover one you’d never considered, we give you the lowdown on export issues, statistics, trends and regulations relevant to your product.
- Make a connection – We can introduce you to experienced locals who can help your business with importing, distribution or support.
- Be more efficient – We can help you make the most of your time overseas by arranging appointments for you in advance.
- Get feedback – After your visit, we’ll get honest feedback from local contacts, giving you an insight into their take on what you offer, and their potential as business partners.
- Promote yourself – When you’re ready to launch overseas, we can help you with your marketing plan, with access to key trade shows and ways to reach your target audience.
Find out more about the services Austrade provides to Australian exporters on our trade services page.
Click the above links and read on.
Market Insights: Singapore
DFAT also provides advice for business travellers and tourists going to Singapore. This information is regularly updated and should be checked before planning travel.
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GAIN Report Number: SN2019-0004
Singapore – Retail Foods
Date: October 7, 2019
ED: Whilst the above reports on the Republic of Korea market is from a USA export perspective, it is also useful for Australian exporters interested in or already involved with this market:
“The Singapore food retail sector is highly developed and competitive. The industry is comprised of a range of large supermarkets/hypermarkets, convenience stores, “mom and pop” traditional stores and specialty retailers. According to the Singapore Department of Statistics, the country’s food retailers surpassed $6 billion USD in sales in 2018. Industry analysts report the sector is dominated by three key players: the NTUC Fair Price Cooperative, Dairy Farm Group, and Sheng Siong Supermarket Chain. Top prospective U.S. products for the Singaporean food retail market include pork, dairy, processed vegetables, chocolate/cocoa products, wine, beer and beef.”
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GAIN Report Number: SN9003
Singapore – FAIRS Country Report
Date: January 30, 2019
This report provides information on the regulations and procedures for the importation of food and agricultural products from the United States to Singapore. Although the Agri-Food and Veterinary Authority (AVA) is currently the national body responsible for implementing food regulations in the country, a new government agency called the Singapore Food Agency (SFA) is scheduled to take over food-related regulatory responsibilities in April 2019. Updates in this report include modifications to the Singapore Food Regulations (guidelines governing imported food) and details on the Sale of Food Act of 2017, which came into operation on February 1, 2018.
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GAIN Report Number: SN2019-0009
Singapore – Exporter Guide
Date: January 12, 2020
Singapore’s highly import dependent, multi-billion-dollar food industry is driven by robust consumer spending, high disposable incomes and intense urbanization. The country’s trade and regulatory policies are focused on ensuring consistent foreign supply of high-quality food and agricultural products. Singapore’s total agricultural product imports in 2018 reached $10 billion USD, roughly 10 percent of which was sourced from the United States.
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Food Hotel Asia 2020 : Singapore
Food Hotel Asia (Singapore 31 March to 3 April 2020) has grown from strength to strength over 40 years to become the number 1 trade event in the region, connecting international suppliers with key buyers from Asia’s thriving food and hospitality industry. Evolved from the highly successful Food & Hotel Asia (FHA), FHA-Food & Beverage is Asia’s largest food & drinks trade event that brings together the global food and hospitality community.
FHA-Food & Beverage offers an exemplary experience underlined by the most wide-ranging food & beverage products and innovations that are top and trending across the globe. More than 80% of exhibitors are made up of direct manufacturers and as many as 15% are expected to use this platform as a launch pad for new-to-market innovations. FHA-Food & Beverage will provide global suppliers with valuable access to quality buyers including distributors, importers, manufacturers and retailers, and attendees will also gain valuable insights into developments and future trends of the food & beverage industry. To further complement the exhibition, expect dedicated zones, competitions, masterclasses and more at FHA-Food & Beverage 2020.
To attend visit the Food Hotel Asia website.