Iced tea is one of the food and beverage sub-category offered in restaurants, along with the meal deals and combinations and meat mains – others sub-categories, according to GlobalData’s menu intelligence database. In its menu analysis of the iced tea sub-category in Singapore report, GlobalData analyses 1,621 menu items from different foodservice outlets and provides an overview of the food categories available across the foodservice channel in Singapore. According to the report, the iced tea sub-category constituted a 8% share among all restaurant types in Singapore. Buy the report here.
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Hot drinks was found to be the most-used ingredient in the iced tea sub-category featuring in 67% of menu items, followed by fruit and herbs, spices & seasonings. Sugar and milk were also significant ingredients.
An analysis of the annual price change between 2023 and H1 2024 indicates that the average menu prices in the iced tea sub-category have dropped by 0.03%. As on-premises dining gains momentum following the COVID-19 pandemic, the iced tea sub-category in Singapore is expected to experience overall growth.
Different sub-categories exhibited mixed price movements within Singapore foodservice market between 2023 and H1 2024. Of all the sub-categories, the sharing platters & tapas sub-category exhibited the highest price increase, while iced tea experienced a maximum price decrease.
An in-depth analysis of iced tea sub-category price trend by location reveals consumption trends of each region. The graph below represents the change in iced tea sub-category menu prices during 2022-2024 across the top five locations. As seen below, iced tea sub-category menu items in Singapore became more affordable as compared to Singapore and NULL.
While consumers become more price conscious, operators too, look for ways to optimize their costs to retain margin and market share. In Singapore market, restaurants operators rely on innovation as a crucial tactic to appeal to customers as well as optimize costs. As increasing number of consumers seek novel experiences, foodservice operators must continuously innovate their menu choices, providing superior taste and quality along with a diverse selection of dishes. Operators should highlight the distinctive tastes and flavours of their food and beverage offerings in a convenient format to enhance customer engagement.
To further understand and explore GlobalData’s insight into Singapore sub-category menu, buy the report here.
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GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.
GlobalData’s Online Menu Intelligence is a database of cost and profit foodservice operators on menus within Foodservice Intelligence Center. The tool’s several search options, such as cuisine, category, menu item, ingredient, and restaurant, help users to conduct focused searches in terms of price analysis (average price and change in prices), menu item claims, popular categories, cuisine/ingredient penetration levels, etc.
