The Singapore food and beverage (F&B) industry is gearing up for significant international expansion. Food exports have been growing at over 11% annually since 2020, reaching more than 120 global markets, according to Minister of State for Trade and Industry Low Yen Ling, who spoke at the FHA-Food & Beverage trade show on April 23.

Low emphasized that Singapore’s distinctive culinary culture and its extensive network of free trade agreements (FTAs) are advantageous for F&B companies looking to enter foreign markets. For instance, the recent Mercosur-Singapore FTA signed in 2023 grants local businesses preferential access to markets in Argentina, Brazil, Paraguay, and Uruguay, reducing tariffs and promoting trade flows.

Under the Trade 2030 strategy, the government aims to expand its trade agreements further, facilitating seamless food trade to and from Singapore. The FHA-Food & Beverage trade show, running from April 23 to 26, provides an opportunity for food manufacturers to showcase their products to an anticipated audience of 60,000 local and international visitors, including buyers from supermarkets and restaurants.

The event has attracted over 1,600 exhibitors from more than 52 countries, serving as a vital platform for networking between buyers, sellers, start-ups, and investors. In collaboration with Sats, EnterpriseSG has set up a Future of Food Showcase featuring innovative dishes, including Bamnut noodles made from Bambara groundnuts, topped with roasted crickets from local start-up WhatIF Foods.

Start-up Altimate Nutrition, which focuses on insect-based products, is also looking to expand into the British market, where acceptance of insect consumption is growing. They aim to connect with local food manufacturers interested in incorporating cricket protein into their offerings.

In addition to insect-based options, the trade show featured plant-based gyoza by Tee Yih Jia ALTN, which exports to over 80 countries and is targeting further growth in South America. According to market development manager Priscilla Ng, initiatives from EnterpriseSG are essential in bridging connections between local distributors and international markets.