Food Industry Singapore Update 2024

Food Industry Singapore

Consumption of food is a favourite pastime of Singaporeans for sure.  Any business related to food is certainly a route that any businessmen should look into.  Possible route is to get Food Factory in Singapore. Despite the pandemic, there is an increasing formation of Food and Beverages (F&B) Businesses which will have a positive correlative effect on the demand of food factory.

Singapore food outlet statistics

Food Establishment Statistic

Consumption of food is a favourite pastime of Singaporeans for sure.  Any business related to food is certainly a route that any businessmen should look into.

Based on the statistics from Singapore Department of Statistics, in 2023, there were:

  • 98,317 restaurants
  • 141, 174 fast food outlets
  • 87,968 food caterers
  • 117,732 cafes, food courts and other eating places

As compared during Covid period in 2020, there is an increase of 42 % for restaurants, 32% for fast food outlets, a whooping 88% for food caterers and 37% for cafes and others.

Food catering is most likely category to utilise a food factory.  Thus, we have the increase in popularity of food factory in the area of central kitchen type.

If  you are still not investing in Food Factory right now, you may be

Losing Big Time

singapore food licensing

Licensing of Food Related Establishments

Looking at the data from Singapore Food Agency, there has been a steady increase in the issuances of licenses for food processing and manufacturing, central kitchen, cold store and in retail.  In 2022, there were 1,623 licenses vs 1,450 licenses in 2020 for food processing and manufacturing.  There is an increase of 43% for central kitchen in 2022 over 2020.

changes in food consumption
sites approved for JTC food factory

Designated Regions in Singapore For Food Production

In Singapore, there are designated food zones where the food establishments are.  The North region and West region in Singapore are the top 2 regions that food factories are located.

In the North region, there will more food related transformation such as Northern Agri-Tech and Food Corridor, with will link the future Agri-Food Innovation Park in Sungei Kadut Eco-District.

Today, there is an opportunity for you to look at a FREEHOLD food factory at Mandai Estate called CT Foodnex,  a 10-storey high specification designed food factory with 110 production units.  

At the West region, there are food zones that are nearer to Singapore 'Second CBD', the Jurong Lake District, Jurong Innovation District, easy drive from Jurong Fishery Market and the future Greater Southern Waterfront.



Singapore Government Playing a Big Role in Supply of Food

The government plays a big role in governing the supply of food, from start to finish.  As a result, strategies taken are:

  • Regulating High Specification for Food Factory, with strict requirements from URA and SFA
  • Establishment of Dedicated Food Zones in Singapore
  • Getting Polytechnic to offer courses in Agricultural Technologies
  • Encouraging Hydroponic Technologies and moving them into Factories, particularly food factories
  • Embarking on a 30 by 30 Vision, to locally produce 30% of Singapore's nutritional needs by 2030

Singapore 30 by 30 Vision

The Covid Pandemic has exposed a food supply venerability in Singapore.

Singapore's reliance on imports for 90% of its food puts it at the mercy of external forces in exporting countries, the majority of which are beyond the Republic's control. Home-based producers now meet less than 10% of Singapore's nutritional needs.

According to Singapore Food Agency, Singapore imports food from some 170 countries.  There has to be a change.

As a result, the SFA has set a goal for local produced food to meet 30% of Singapore's nutritional needs by 2030, reducing the country's reliance on imports and its vulnerability to supply interruptions.

4 Strategies that Government is embarking on to achieve the 30 by 30 vision are:

  • Tapping on Technology, expanding agri-food production and automating systems via robotics and sensors
  • Exploiting Alternative Spaces such as vacant state building, rooftops and the deep sea
  • Grooming Experts in the Field with Singaporean talent in urban food production processes and business models
  • Encouraging Consumers in Choosing Homegrown Produce with initiatives with Singapore Framers' Markets and Supermarkets

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