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 Frozen Ready Meals market in Singapore

The Singapore Frozen Ready Meals eCommerce market is predicted to reach US$4.4 million by 2024 and accounts for 14.9% of the Frozen 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 17.6%, resulting in a projected market volume of US$8.3 million by 2028. The Frozen Ready Meals eCommerce market is a sub-market of the Frozen Food market. Further categories within the Frozen Food market are: Frozen Pizzas, Frozen Vegetables, Ice Creams, and Other Frozen Food.

eCommerce revenue development in the Frozen Ready Meals 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 Frozen Ready Meals 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

20202021202220232024202520262027
Revenue (in mUS$)0.00.00.00.00.00.00.00.0
Growth (in %)32.953.972.291.71.566.875.538.0

Online share

eCommerce online share of the total Frozen Ready Meals 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 Frozen Ready Meals retail market, the online share is 5.4% and will increase by an average of 16.2% to 9.8% by 2028.

eCommerce online share of the total Frozen Ready Meals market in Singapore

in %

Note: Data shown is using current exchange rates.

Source: Statista Market Insights , ECDB analysis

20202021202220232024202520262027
Online share (in %)9.2%87.2%91.3%72.9%48.4%97.4%81.6%4.9%

Market definition

Definition of the Frozen Ready Meals market within the Grocery market

Market definition: Grocery > Food > Frozen Food > Frozen Ready Meals The category Frozen Ready Meals includes the online trade of frozen ready meals (e.g. frozen lasagna, frozen stir-fry, frozen macaroni and cheese). This category does not cover frozen pizzas and chilled ready meals. All monetary figures refer to the annual gross revenue and do not factor in shipping costs.

In-scope

  • Frozen ready meals (e.g. frozen lasagna, frozen stir-fry, frozen macaroni and cheese)

Out-of-scope

  • Frozen pizzas
  • Chilled ready meals

Market comparison

The Singapore Frozen Ready Meals market in a global comparison

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

in %

Source: ECDB analysis