Grocery market in Singapore

The Singapore Grocery eCommerce market is predicted to reach US$1,028.9 million by 2024 and accounts for 10.6% of the total eCommerce market in Singapore. It is expected to increase over the next years. The expected compound annual growth rate for the next four years (CAGR 2024-2028) will be 22.6%, resulting in a projected market volume of US$2,321.6 million by 2028. Within the Grocery market ECDB considers the following two sub-markets: Food and Beverages.

Market development

eCommerce revenue development in the Fresh Food market in Singapore

The Singapore Fresh Food eCommerce market is predicted to reach US$310.3 million by 2024 and accounts for 49.2% of the Food eCommerce market in Singapore. It is expected to increase over the next years. The expected compound annual growth rate for the next four years (CAGR 2024-2028) will be 24.5%, resulting in a projected market volume of US$746.5 million by 2028. The Fresh Food eCommerce market is a sub-market of the Food market. Further categories within the Food market are: Baked Goods, Food Cupboard, Frozen Food, and Meal Kits.

eCommerce revenue development in the Fresh Food market in Singapore

in million US$

Note: Market revenue represents B2C sales of physical goods including VAT. It excludes B2B sales, C2C sales, returns, compensation for damaged or missing goods, any discounts granted and services. Data shown is using current exchange rates.

Source: ECDB analysis

eCommerce revenue growth in the Fresh Food market in Singapore

in %

Note: Market revenue represents B2C sales of physical goods including VAT. It excludes B2B sales, C2C sales, returns, compensation for damaged or missing goods, any discounts granted and services. Data shown is using current exchange rates.

Source: ECDB analysis

Net eCommerce revenue split by sub-category

in %

Note: Data shown is using current exchange rates.

Source: ECDB analysis

201720182019202020212022202320242025202620272028
Revenue (in mUS$)0.00.00.00.00.00.00.00.0
Growth (in %)55.796.161.728.756.164.736.017.9
as of Food (in %)2.12.12.01.91.91.91.91.91.91.81.81.8

Online share

eCommerce online share of the total Fresh Food market in Singapore

The online share refers to the proportion of the retail volume that is transacted via the Internet. It includes purchases via desktop PC, tablet or smartphone, both via website or app. Only retail of physical goods is taken into account. In the Singapore Fresh Food retail market, the online share is 5.0% and will increase by an average of 14.5% to 8.7% by 2028.

eCommerce online share of the total Fresh Food market in Singapore

in %

Note: Data shown is using current exchange rates.

Source: Statista Market Insights , ECDB analysis

20202021202220232024202520262027
Online share (in %)15.6%88.3%25.6%65.6%96.7%10.0%56.5%56.7%

Market definition

Definition of the Fresh Food market within the Grocery market

Market definition: Grocery > Food > Fresh Food The category Fresh Food includes the online trade of fruits, vegetables, meat, and more. This category does not cover canned, frozen and processed food. All monetary figures refer to the annual gross revenue and do not factor in shipping costs.

In-scope

  • Fruits
  • Vegetables
  • Meat
  • Fish
  • Dairy
  • Chilled Food

Out-of-scope

  • Canned, frozen and processed food

Market comparison

The Singapore Fresh Food market in a global comparison

Market comparison by growth, online share, and revenue in 2023

in %

Source: ECDB analysis