Opportunities for the Swedish F&B brands in Singapore

what
  • In 2020, the Government of Sweden has conducted an export potential analysis that showed growth potential for the Swedish F&B industry in several markets globally. One of the six identified markets was Singapore.
  • Singapore belongs to Southeast Asia – a region with a combined GDP of 3.86 trillion USD in 2023 and an expected growth rate of 4% till 2025. The region is home to over 8% of the world’s population.
  • Singapore imports over 90% of its food supply, one of its main concerns is thus to ensure food security despite global crises in the future. Diversifying its import sources is high on the country’s agenda.
  • Sweden’s F&B export to Singapore have been growing by 4% in recent years, and there is a further potential to expand by tapping into the increasing demand for high-quality and sustainable food products among consumers in Singapore.
  • The top outperforming product categories in Singapore in 2023 were: non-alcoholic drinks, sugar products, alcoholic beverages and healthy foods.
  • While Singapore is a small domestic market, it remains a key location when considering entry into Southeast Asia. It is one of Asia’s largest trading and regional hubs for multinational companies, and it is the sole advanced economy in Southeast Asia, consistently scoring high on rule of law and ease of doing business. Singapore is often the testbed for new companies and brands, due to its highly internationalised and mature market. With strong logistics infrastructure present in the country, businesses can scale-up their operations easily to the region after finding success in the country.

how

To enter or expand business in the Singaporean market, the key is to have a qualified and reliable distributor or importer.

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