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The retail food sector is highly competitive in Singapore with no single country holding over 16 percent of the consumer-oriented products market share. Singapore’s economy is beginning to slow due to cost-of-living, inflation, and supply chain challenges.

Singapore’s economy is rebounding strongly from the COVID-19 pandemic. The city-state’s highly import dependent, multi-billion dollar food industry is driven by robust consumer spending, high disposable incomes, and intense urbanization.