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This article serves to help companies to gain a better understanding of the Millennials in order to capture their share of the market effectively. Based on research and statistics, we drew the following conclusions on the target segment and their behaviour. 1. Millennials want High quality food at Cheap Price 2. Millennials are Health Conscious and Price Sensitive 3. “Photogenic” Foods 4. Transparency of Food, and social & environmental responsibility 5. Adventurous, keen to explore new and innovative flavours 6. Rely on reviews for the choice of brand 7. Willingness to pay more for premium products 1.      Millennials want High quality food at Cheap Price The Millennial generation values both quality and price competitiveness. Food companies are now putting more emphasis on health and high-quality ingredients in order to appeal to Millennials. For example, the makers of Oreo launched “Oreo Thins”, a slimmed-down version of the origi...

The F&B industry has gone a long way for a small city such as Singapore. Evolving consumer habits and operating landscape have kept such F&B operators at their toes over the past decades. Below are the latest trends in the consumers’ segment and it is paramount for food operators and  food distributor in Singapore  to take notice of and to cater for these needs into the future. 1. Healthier Alternatives Consumers are trying to achieve a balanced diet by eating more healthily and exploring alternative health products. It was also reported that there has been an increase in vegan  claims over the last 5 years. Bakery is one of the industries that can seek product  innovation in this area. Across Asia Pacific, Australia is leading the way in this trend.  Singapore and Thailand are the leading countries within Southeast Asia. 2. Brand Story Consumers today are looking at the stories behind every product, telling about their origin, ingredient...

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 ...