See why consumer sector revenues will falter in 2014

Lower revenue growth, higher margin pressures.

According to OCBC Investment Research, the consumer sector will have an "uneventful" first half in 2014 as firms grapple with cautious consumer spending.

"We feel that revenue growth is likely to be challenging given the recent spate of bearish data points both domestically and abroad, which indicate that consumer spending is likely to be subdued in 2014, and that companies will also continue to face margin pressures from rising operating expenses," said OCBC.

"In addition, ongoing concerns over the overall macro environment and the focus on rising inflation will also keep a lid on consumer spending," it added.

Given this backdrop, OCBC named Sheng Siong Group and Petra Foods as its top picks in the sector, with the former having defensive qualities in the face of weaker domestic sales while the latter has a dominant leadership position in chocolate confectionary products.