Singapore Snacks Market Size and Share Outlook - Forecast Trends and Growth Analysis Report (2025-2034)

Singapore Snacks Market Growth

In August 2024, the Department of Statistics, Singapore recorded a 4.3% year-on-year increase in the overall sales of food and beverages. This was a monthly growth of 3.5% and substantially higher than the 0.2% year-on-year growth witnessed in July. Online channels accounted for 24.2% of overall F&B sales, recorded at USD 1 billion during August. Across all industries, including restaurants and other eating places, the sale of food and beverage products increased significantly. This is expected to have a favourable impact on the sales of snacking items as well.

Moreover, several market players are introducing gourmet snacks in Singapore with healthier ingredients to cater to health-conscious consumers. This includes the launch of foxnut-based snacks that are crunchy, delicious, and boast of a highly nutritious profile. By introducing roasted foxnuts in different flavours, such as cheddar cheese, banana honey cinnamon, sour cream and onion, and seaweed, the company can encourage consumers to try these snacks to boost their overall productivity and achieve their health goals. The rising demand for on-the-go snacking products is expected to complement the snack demand, thereby driving the Singapore snacks market expansion.

Key Trends and Developments

Singapore Snacks Market Trends

Solein received the regulatory approval from Singapore Food Agency in 2022. It is produced in a bioprocess (which resembles winemaking) whereby microbes are fed with a small amount of nutrients and gases (such as oxygen, hydrogen, and carbon dioxide). It is a significant breakthrough in the realms of traditional agriculture and can significantly improve sustainability and transparency within the food and beverage industry. It comprises of over 65% protein, around 10%-15% dietary fibres, and 3%-5% mineral nutrients. It can be used to enhance the vitamin B and iron content of different food items without compromising their taste. This is expected to have a significant impact on the Singapore snacks market outlook.

Singapore Snacks Industry Segmentation

Singapore Snacks Market Share

Based on distribution channel, the market is segmented into hypermarkets/supermarkets, convenience stores, and online channels, among others. Online channels are projected to dominate the market, representing 10% of the overall market share. Over the forecast period, online channels are expected to grow at a CAGR of 3.5% as they improve consumer accessibility to a wide range of snacking options and provide home deliveries.

Leading Companies in the Singapore Snacks Market

Market players are focused on developing snacks in flavours most preferred by consumers, such as chocolate-flavoured chips, bars, ice cream, etc. To cater to the consumer demand, companies like Orion Corporation are offering over 26 different variants of Choco Pie in nearly 60 countries.

The Golden Duck Co.

The Golden Duck Co. was founded in 2015 and is based in Singapore. It is renowned for manufacturing salted egg yolk snacks that are enjoyed by people in around 20 countries worldwide. Company’s snacking products undergo 20 rounds of research and development.

Orion Corporation

Orion Corporation, formerly known as Dongyang Confectionery, was founded in 1956 and is headquartered in Seoul...

Mars Incorporated, Inc.

Mars Incorporated, Inc. is a private company which was founded in 1911 and is headquartered in Virginia, Unite...

General Mills, Inc.

General Mills, Inc. was formed in 1928 and is headquartered in Minneapolis, United States. It is engaged in th...

*Please note that this is only a partial list; the complete list of key players is available in the full report. Additionally, the list of key players can be customized to better suit your needs.*

Other major market players are Pepsico, Inc., Mondelez International Inc., Kellanova, Nestle S.A., Calbee, Inc., and Lotte Corporation, among others.