35% reduced foreign worker quota
Increase in labour cost > labour productivity
69% of consumers use food delivery apps
Smart Nation and innovation drive
Source: Business Insider, March 2019; Ministry of Trade & Industry, February 2019
Despite these challenges, consumer appetites in Singapore remain healthy and the food manufacturing sector continues to flourish. Government data estimates that, in 2017, more than half of Singapore’s food manufacturing sales were exported. With Singapore’s status as a food paradise and its global reputation for food safety, the world loves, trusts, and wants more of our food. This offers an exciting opportunity for local food businesses to expand into the fast-growing Southeast Asian region and beyond.
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