Table of Contents
1) The Frozen Meats Market
As consumers increasingly seek convenience and quality, the market for frozen meats is experiencing rapid growth. Our company is leading the way in this trend, providing a diverse range of delectable and nourishing frozen meats that cater to various preferences and requirements.
Global Frozen Meat Market
The global frozen meat market was valued at *US$23.2 bn in terms of revenue for 2021, exhibiting a CAGR of 4.9% during the forecast period (2022 to 2030) and is projected at significant rate of US$83.3 bn by end 2030.
*Data Source: Coherentmarketinsights
Market Size and Growth
Witnessed by steady growth in recent years and is expected to grow continuously due to convenience, longer shelf life, according to market intelligent research .
Product Innovation and Differentiation
To capitalize on market growth opportunities, We introduce new variations, packaging formats, and value-added products that cater to specific consumer preferences and dietary requirements.
Growing Demand for Frozen Foods
Changing consumer preferences of convenience life have led to an increased demand of frozen meats. This trend presents a significant growth opportunity for the frozen meats industry.
Sustainable and Ethical Practices
Consumers are increasingly demand sustainability and ethical practices in food production. We are responsible sourcing, and animal welfare considerations help us to gain a competitive edge in the market and attract health conscious consumers.
Growing Health Consciousness
Health-conscious consumers are seeking healthier options in the frozen meats that are free from artificial additives, preservatives. We can offer healthier and clean-label frozen meat products have a competitive edge in the market.
Technological Advancements
Advancements in freezing technologies, packaging, and logistics have improved the quality of frozen meats. We enhance product quality, extend shelf life, and improve overall consumer experiences.
2) Business Overview
JB Frozen Food Pte Ltd
Revolutionizing, Dynamic and Innovative in the Frozen Meats Industry.
Our company is one of the leaders in the frozen meat industry, with a proven record of success. We are seeking S$15.0mil equity funding to expand our product line, reach new markets, and further establish our brand.
Set Up In Singapore:
11/ 2020
Annual Revenues (2022): S$42.50 mil
Reguralized Customers Size: 780+
Paid-Up Capital:
S$900k
Business Model: B2B Sustainable
Staffs Strength:
78+
Our Value Propositions In the Business - To Drive For Consistent Long-Term Growth & Profitability
1
Consistent Increase In Revenue & Earnings
Our company has a proven model for achieving rapid and consistent sales revenue growth, resulting in steady earnings.
5
Health and Wellness
We prioritize consumer health and wellness, offering carefully selected frozen meats free from additives, preservatives, and antibiotics, promoting balanced nutrition.
9
Uncompromising Quality
By partnering with trusted suppliers, we guarantee the utmost quality standards, delivering a premium product experience to our valued customers.
2
Scalability & Profitability
Our scalable and profitable business model, driven by streamlined operations, efficient supply chain management, and strategic partnerships, ensures sustainable profits.
6
Proven & Scalable Business Model
With the right investment, our company has the necessary infrastructure and expertise to facilitate rapid expansion of our operations.
10
Sustainable Sourcing
Our unwavering commitment to responsible sourcing practices emphasizes sustainable agriculture and upholds the highest standards of animal welfare.
3
Market Expansion Potential
We are poised to capitalize on the growing frozen meats industry through our strong value proposition, differentiated products, and innovative marketing strategies.
7
Strong market presence
Our company has a loyal customer base and a robust distribution network, laying a strong foundation for future growth.
11
Strong Retention Customers-Based
We prioritize customer retention while streamlining our operations for enhanced efficiency and improved business performance.
4
Experienced & Skilled Management
With decades of collective food industry experience, our team has a track record of successfully growing businesses.
8
Advancement of Technologies
We prioritize investing in staff training, technology, and infrastructure to drive future growth and ensure our company's success.
12
Strong Brand Identity
Our brand's cornerstone is trust, reliability, and authenticity, fostering a loyal customer base that values our commitment to exceptional frozen meats. Investors align with our reputable brand, resonating with consumers.
3a) Key Problems and Challenges
The complexities and the key areas of concern and problems faced in the industry.
Quality Control & Food Safety
Ensuring consistent quality and adherence to food safety standards is crucial in the frozen meats industry. Maintaining the integrity of the product throughout the freezing, storage, and transportation processes can be challenging, requiring robust quality control measures and adherence to regulatory requirements.
3b) Solutions to tackle the Problems & Challenges
Here the solutions that are to minimize the risks and the impacts of the key problems and challenges.
Quality Control & Food Safety
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Implement strict quality control processes at every stage of production, including rigorous testing and monitoring.
-
Invest in state-of-the-art freezing and storage facilities to maintain product integrity.
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Adhere to industry standards and certifications to assure customers of product safety.
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Conduct regular training programs for employees to ensure they are well-versed in food safety protocols.
4) Market, Competitions, Risks Mitigation & Opportunities
The frozen meat market in Singapore is highly competitive, driven by players offering quality products and innovative solutions. Amidst to this competition, opportunities also exist to cater to health-conscious consumers, expand distribution channels, and tap into growing demand for convenience and variety.
S$ 5,140 mil
Singapore market size in 2023
5.36% grow rate
Annually increase CAGR 2023 to 2028
*Data Source: Statista.com | Market size: US$3,862 mil or equivalent to S$5,140 mil based on exchange rate: S$1.33094 on 28/July/23.
S$ 451.91 bn
Global market size in 2023
4.93% grow rate
Annually increase CAGR 2023 to 2028
Top Meat Companies in Singapore
1) Angliss Singapore
2) Huber's Butchery
3) Gourmet Meat Market
A total of 2,772 license importers in 2022, compared to 2,847 importers in 2021.
SFA released of 2022/ 2021 data of
183 approved sources of from 42 Countries complied to SFA's Food Safety Requirements
Increased 11 new sources from 172 to 183 in 2019 to 2023.
Most consumption of meats in 2022/ 2021
1) Chicken - 229,400 tonnes
2) Pork - 129,000 tonnes
3) Beef - 36,800 tonnes
4) Mutton - 16,400 tonnes
5) Seafood - 129,100 tonnes
Average of 5.36% increased in value of US$3,862 mil consumed in 2022.
Numbers of licensed/ Registered importers
Numbers from 2,565 importers in Q1/2020 to 2,772 licensed importers in Q4/2022.
A total of 207 new meats importers in Q4/2022 compared to Q1/2022.
Numbers of imported permits issed of 2022/ 2021
A 12.28% or 695 additional permits issued in Q4/2022
A total of 6,355 imported permits issued in Q4/2022 compared to 5,660 permits issued in Q1/2020.
4a) Estimate Market Size of Meat Industry In Singapore - 2023 to 2028
Total Addressable Market (TAM) = S$96,100 mil
Serviceable Available Market (SAM) = S$1,441.50 mil
Serviceable Obtainable Market (SOM) = S$108.0 mil
We based on the Singapore Food Agency (SFA) released data in 2023, and adopted a bottom-up approach to measuring the market size of the frozen meat industry in Singapore -
TAM (Total Addressable Market) - S$5,140mil * 5.36% annual growth rate.
We estimate the company's current market share is 1.50%, we can calculate the Serviceable Available Market (SAM) and Serviceable Obtainable Market (SOM) based on the provided TAM information that the company can be realistically targeted and served.
SAM = TAM * Market Share SAM = S$96,100 mi * 1.50%
We assume a potential market penetration rate of 10% to calculate the Serviceable Obtainable Market (SOM) based on the provided TAM and market share information.
SOM = SAM * Potential Market Penetration SOM = SAM * 7.5%
4b) Passion To Drive Higher Forecasted Market Shares For Years 2023 To 2028
We are poised for explosive growth thanks to our unique value proposition in the frozen meats market. Our superior quality, convenient packaging, and affordable pricing and other strengths give us a competitive edge over other brands.
Growing From Strengths To Strengths
01.
Proven & Scalable B2B Business Model
03.
High & Strong Customers Retention Rate
05.
Diverse Market Segments
07.
Quality & Safety Assurance
09.
Sustainable
Ethical Practices
02.
Experienced & Skilled Management Team
04.
Attractive Pricing & Value Proposition
06.
Market Trends & Continuous Innovations
08.
Sustainable Sourcing & Environmental Stewardship
2023
Sales:
$50 mil
Profit:
$300k
2024
Sales:
$63 mil
Profit:
$1.2 mil
2025
Sales:
$70 mil
Profit:
$1.8 mil
2026
Sales:
$88 mil
Profit:
$2.3 mil
2027
Sales:
$98 mil
Profit:
$2.8mil
2028
Sales:
$108 mil
Profit:
$3.2 mil
Currency: Singapore Dollar
4c) Risks Mitigating Strategies To Deal with Changes & Impacts
The business expansion in the frozen meat industry may face several risks that associated with unforeseen circumstances:
By proactively identifying potential risks, this will be better prepared to navigate challenges and ensure long-term success.
Supply-Chain Disruption
Any disruption in the supply chain, such as delays in transportation issues, can impact production and lead to customer dissatisfaction.
Food Safety & Quality Compliance
Failure to adhere to strict food safety and quality regulations can result in product recalls, legal penalties, and reputational damage.
Market Competition
The frozen meat industry can be highly competitive, leading to price pressures and potential loss of market share.
Fluctuating Raw Material Costs
Sudden fluctuations in the cost of raw materials can impact profit margins and operational costs, cash-flows pressure.
Regulatory Changes
Changes in food safety regulations or import/export policies can create compliance challenges and increase operating costs.
Labour Shortage & Talent Retention
Difficulty in recruiting skilled labor and retaining key employees can affect productivity and business continuity.
5) 2022/ 2021 Financial Highlights
5a) Key Financial Snapshots For FY2022
S$42.7
Mil
2021 | $26.5 mil
S$381.5
K
2021 | $306.8k
S$514.7
K
2021 | $532.9 K
37.3
%
2021 | 1,379 %
S$1,236
K
2021 | $295.9 K
2.34
x
2021 | 4.57 x
As the CEO of JB Frozen Food Pte Ltd, I'm thrilled to present our annual report for 2022/ 2021 business performance, our sales revenues increased by 60.0%, reaching an impressive milestone of S$42.70 million in our 2nd financial year, ended 31/Dec/2022.
We have focused on enhancing operational efficiency, resulting in improved profit margins and sustainable profitability. Looking ahead, we anticipate a remarkable 65% compound growth with projected sales revenues of $70mil and $1.1mil in 2024.
Our vision is to become the leader in the premium frozen meats industry. Through innovation, sustainability, and customer-centricity and expanding into new markets, we aim to create a lasting impact. Join us as we embark on this exciting journey of success.
Strong Growth Rate
+60% higher sales
Stable B2B Rate
780+ regular
Sustainable Source
16+ worldwide
Strong Relations
9 banks & PFIs
ESG Commitments
-20% CO2 & waste
Fast Cash Collection
+95% in 30 days
Report Card
-
The company experienced robust yearly sales growth, from $26.5 million in 2021 to $42.6 million in 2022.
-
Average monthly sales soared from $2.2 million in 2021 to $4.8 million in 2023.
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The number of regular B2B customers increased from 350 in 2021 to 420 in 2022.
-
These figures demonstrate strong revenue growth, expanding customer base, and market success, making it an attractive investment opportunity.
Pork - 32.83%
Finger Food - 3.3%
Seafood - 8.54%
Duck - 0.06%
Chicken - 34.9%
Mutton - 9.52%
Beef - 10.65%
Veg - 0.20%
-
A substantial year-over-year sales increase, showcasing the company's ability to generate revenue and capture market share.
-
The increase in customer base indicates growing market demand and highlights the company's success in attracting and retaining business customers.
-
The impressive growth in sales and customer numbers signifies a positive trajectory for the company's overall financial performance.
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The substantial increase in yearly sales showcases the company's ability to capture market opportunities and drive revenue growth.
5b) What To Achieve Moving Forward 2023 - 2025 & Beyond
Based on our comprehensive market analysis and considering the company's strong performance over the past two years, we anticipate a positive market outlook for the frozen meat business in the next three years, from 2023 to 2025.
Growing Market Demand
E-commerce & Digital Presence
Sustainable & Ethical Practices
Market Expansion Opportunities
Operational Efficiency & Cost Optimization
Strategic Focus on Customer Experience
Production Innovation & Portfolio Expansion
Investment in Marketing & Branding
Risk Management & Contingent Planning
Assumptions & Forecast Driving For Strategic Growth & Profits
6) How Your Investment Will Drive Sustainable Business Growth
Instrumental In Driving Visional Growth
We are thrilled to present our vision for driving sustainable business growth through strategic investment in our frozen meat company. Your investment is not just a financial contribution; it signifies your partnership with us on this exciting journey towards expanding our market presence, enhancing our capabilities, and solidifying our position as a leader in the frozen meat industry.
Your investment will be used to expand our product line, optimize our supply chain, and improve our marketing strategy. With your support, we will introduce new products, reach new customers, and take our business to the next level.
Strategic Allocation of Investment Funds
15% of Funds
Product Diversification & Innovation
10% of Funds
E-Commerce & Digital Transformation
8% of Funds
Talent Development & Training
5% of Funds
Sustainability & Environmental Initiatives
S$15.0 mil - Uses of Funds
20% of Funds
Strengthening Supply-Chain
12% of Funds
Quality Assurance & Food Safety
25% of Funds
Market Penetration & Expansion
5% of Funds
Contingency & Miscellaneous
01
Market Insights and Growth Potential
Our in-depth market research identified strong growth potential, well-positioned for market dominance.
02
Strategic Investment Allocation
Funds will be precisely allocated for maximize returns and ensure sustainable growth.
03
Market Penetration and Strategic Acquisition
Investment targets market expansion with aggressive strategies, new retail outlets, and strategic partnerships.
04
Embracing Digital Transformation
Adapting to digital trends, we'll develop user-friendly e-commerce for customer convenience.
05
Commitment to Quality, Sustainability, and Food Safety
Major focus on quality, safety, and sustainability to reinforce customers' trust and build long-term loyalty.
06
Talent and Skill Development
Human-assets investment is pivotal for growth. More resources will be allocated for training and development.
07
Environmental Stewardship
Funds will be committed to eco-friendly practices. Investment in green packaging, and sustainable sourcing.
08
Continuous Improvement and Monitoring
Data-driven for decision & adaptation will allow us to make improvements and continuously monitor our performance.
Your investment is not only a financial commitment but also a testament to your belief in our vision and the potential of the frozen meat industry in Singapore. With your support, we are confident that we will surpass our targets and create significant value for all stakeholders involved.
At JBFF, we are committed to maintaining open and transparent communication with our investors throughout the journey. As we move forward with the implementation of this growth plan, we will provide regular updates on our progress, financial performance, and milestones achieved.
7) Investment Opportunities and Benefits
Investing in our business is an opportunity to get in on the ground floor of an industry poised for growth. You will be a part of a dynamic team that is dedicated to innovation and excellence and will enjoy a number of benefits, including:
Rewarding Returns & High ROI Potential
Guaranteed 10% Annual Dividend Payout
Our business assures investors an attractive 10% profit-sharing, ensuring lucrative rewards for valued partners.
On-going Capital Appreciation
With the anticipated surging revenue and rising profits, the share investment is expected to increase in values.
High Growth Potential
The frozen meat business presents a robust track record, positive market outlook, and high growth potential.
Liquidity Event
Company milestones lead to potential IPOs or acquisitions, providing investors with profitable exit opportunities for gains.
Social Impacts
Sustainable and ethical investments offer social impact and satisfaction, attracting investors valuing responsible practices.
Diversification
Alignment With Market Trends
Market Leadership
Long-Term Value Creation
Opportunities For Strategic Alliances
8) The Team and Management Overview
Our management team is composed of experienced professionals with a strong background in the food industry. Each member brings a unique set of skills and expertise that allows us to excel in every aspect of our business. Meet our leadership below.
Johnson Oh
Founder, CEO & Chief Visionary Officer
Q&A Session
The purpose of this 'Questions & Answers' (Q&A) section on the equity fund raising is to provide a transparent and informative platform where potential investors, stakeholders, and industry professionals can seek clarifications and obtain essential information about the company's investment proposition.
The Q&A section serves as a dynamic and interactive tool that encourages engagement, instills confidence, and builds trust among interested parties.
1. Question: What sets your frozen meat business apart from competitors in the market?
Answer: Our frozen meat business differentiates itself through a combination of high product quality, unique offerings, and exceptional customer service. We maintain strict adherence to food safety standards and regulations, ensuring our products meet the highest quality requirements. Additionally, our commitment to continuous improvement, innovative product development, and personalized customer support helps us stand out in a competitive market.
2. Question: How do you plan to handle potential supply chain disruptions and ensure a stable supply of raw materials?
Answer: To mitigate supply chain disruptions, we have taken several measures. Firstly, we have diversified our supplier base and established strong relationships with multiple vendors to ensure a stable supply. Secondly, we maintain safety stock levels to buffer against sudden supply shortages. Regular assessments of suppliers' performance help us identify any issues proactively. Moreover, we have alternative transport options in place to minimize transportation-related risks.
3. Question: How do you plan to handle potential regulatory changes in the industry?
Answer: We prioritize staying updated on industry regulations and proactively adjust our operations to meet new standards. Our close collaboration with regulatory bodies allows us to understand upcoming changes in advance. Additionally, we work closely with legal advisors to ensure compliance with evolving regulations, safeguarding the company's reputation and reducing any potential compliance-related risks.
4. Question: What are your key financial projections for the next few years, and how do you plan to achieve them?
Answer: Our financial projections are based on thorough market research, expansion plans, and anticipated growth in demand. We aim to achieve these projections by implementing cost-effective inventory management practices, optimizing production efficiency, and focusing on product innovation. Our dedicated team is committed to executing the expansion plans and maintaining financial discipline to ensure the projected growth is achieved.
5. Question: How will you handle economic downturns or market volatility that may impact the demand for frozen meat products?
Answer: We have a well-prepared contingency plan to address economic downturns and market volatility. This includes maintaining a diversified product portfolio, which caters to various consumer segments and price points. Additionally, we continuously monitor market trends and adjust our business strategies accordingly to ensure resilience during challenging economic conditions.
Contact Us For The Next Steps
Thank you for considering an investment in our business. To learn more about this exciting opportunity, please fill out the form below or contact us directly.