Singapore dairy food market: SGD 1.2 billion industry valuation expected by 2017

Press Release   •   Jul 11, 2013 14:51 BST

The Singapore dairy food market is suggested to have reached a value of over SGD 650 million at the beginning of 2007, and is estimated to have hit a total of over SGD 850 million by the end of 2012. By 2017 it is forecast that this industry will be worth a value of almost SGD 1.2 billion.

Driven by a stable economy and increased consumer spending, the Singapore dairy food market is suggested to have grown at a CAGR of around 5.64% between 2007 and 2012. Over the forecast period of 2012 to 2017, the industry is expected to increase at a CAGR of over 6.1%.

In terms of categories, 'Milk' is the largest sector, with 'Cheese' and 'Butter & Spreadable Fats' in second and third place respectively. The fastest growing sector in dairy food in Singapore is also 'Milk', which grew at almost 7.2% CAGR between 2007 and 2012. The forecast period is expected to see the sector grow at 7.63%. 

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