Growth forecast for Bakery & F&B industry

In today’s article, we will look at the forecast of revenue for Singapore’s Food & Beverages

Industry (2015 – 2021). According to Statista.com, one of the leading statistics companies on the internet, Singapore’s F&B Industry amounts to US$108m in 2017 and is expected to grow at a 15.9% CAGR from 2017 to 2021, reaching a market volume of US $195m in 2021.

For growth forecast of Global Bakery Products (2016 – 2021), a survey launched by Global Industry Analysts, Inc. (GIA), a leading publisher of off-the-shelf market research, had stated

that the global market for bakery products is projected to grow and exceed US$485 billion by Year 2020. A report by Research and Markets, further supported this trend, stating that the market will continue to grow and is expected to reach USD $530 Billion by 2021, at 4.5% CAGR during the forecast period. Both reports had also stated that the developing regions,

such as the Asia-Pacific, are currently the growing markets for Bakery Products.

According to GIA’s survey, the Asia-Pacific region recorded a CAGR of 6.7%, making it the fastest growing market in Bakery Products over the analysis period.

The growth of the Global market for Bakery Products will be driven by the increasing popularity of healthy, organic and all-natural baked products, together with the rising

consumption of bread worldwide. Gluten-free products range will be an example that will be

benefiting from the rising demand from gluten-sensitive consumers.

Going forward, manufacturers will possibly adapt their products to remove trans fats and include more natural ingredients while limiting the number of additives and synthetic products used. According to a report by GIA, product innovation such as the development of low trans-fat, low fat, multigrain and organic baked products are expected to provide a push to the whole industry.

This is due to the fact that more consumers are now recognising and paying more attention on healthier options. The constantly changing taste palettes of consumers further add to this trend of product innovation, by incorporating new ingredients in bakery products. This rising demand for such Bakery products are sustaining the growth in developed markets, reports GIA.

The global market for Frozen Bakery Products will also continue to grow during the forecast period of 2016 to 2021, as reported by Marketers Media. The growth is driven due to the growing trend towards ready-to-bake products and the rising demand of convenience food due to the increasingly hectic lifestyles.

The Frozen Bakery Products market in the Asia-Pacific region is estimated to grow at the highest CAGR, due to the growing technological innovation, and the increasing consumer preference towards convenience and ready-to eat meals. The frozen food supplier in Singapore is innovating new menus to keep up with the trend. Currently as a wholesale food supplier in Singapore, the brand must value add to her customers.

In conclusion, what impact does this growing trend has on food distributor Singapore? It is more crucial than ever that such food supplier in Singapore have to sit up and ensure that current work processes and food quality is in sync with the ongoing demand for such ‘in-demand’ food. Oregano Trading is one that places much emphasis on their CSR and ensuring that they are always part of the food ecosystem, from manufacturers down to individual consumers. They are known to be one of the most inclusive food service in Singapore where they serve all organisations of small & big with passion and of course, quality food from reputable food origins.