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Report Overview
The retail market in Singapore reached USD 36.25 Billion in 2024. The market is expected to grow at a CAGR of 3.70% between 2025 and 2034, reaching USD 52.13 Billion by 2034.
2024
Base Year
2018-2024
Historical Year
2025-2034
Forecast Year
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As per the World Bank, as of 2022, the final consumption expenditure of Singapore was over USD 186 billion.
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As per the Economic Development Board in Singapore, till 2030, the annual disposable income is expected to grow at 5.3% CAGR which can boost the demand of Singapore retail market.
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As per the Singapore Department of Statistics, total retail sales in February 2024 were worth USD 3.9 billion.
Singapore Retail Market Share
Food, beverage, and grocery entails a wide range of consumable goods, including fresh and packaged food in the retail market within the country. Personal and household care which encompass a wide array of products designed for personal hygiene and grooming which cater to everyday needs and preferences are also leading growth in Singapore retail industry.
Singapore Retail Market Report Snapshots
Singapore Retail Market Growth
Singapore Retail Market Trends
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The market was valued at USD 36.25 Billion in 2024.
The market is projected to grow at a CAGR of 3.70% between 2025 and 2034.
The revenue generated from the retail market is expected to reach USD 52.13 Billion in 2034.
Based on product, the retail market is split into food, beverage, and grocery, personal and household care, apparel, footwear, and accessories, furniture and home décor, electronic and household appliances and others.
The retail market key players are CK Hutchison Holdings Limited (Watsons), Japan Foods Holding Ltd., Alibaba Group Holding Ltd. (Redmart), DFI Retail Group Holdings Limited, Sheng Siong Group Ltd., Crayon Holdings Pte Ltd., NTUC FairPrice Co-operative Limited, QAF Ltd., Stars Supermarket Pte Ltd., Amnesty Pte Ltd., and others.
Based on the distribution channel, the market is split into supermarkets and hypermarkets, convenience stores, speciality stores, online and others.
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