Singapore: Market for Bone Glues and Gelatin 2024

Market Size for Bone Glues and Gelatin in Singapore

In 2022, the Singaporean bone glue and gelatin market increased by 11% to $X, rising for the third year in a row after two years of decline. The market value increased at an average annual rate of +4.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Bone glue and gelatin consumption peaked in 2022 and is likely to see gradual growth in years to come.

Production of Bone Glues and Gelatin in Singapore

In value terms, bone glue and gelatin production amounted to $X in 2022 estimated in export price. Over the period under review, the total production indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +7.9% against 2019 indices. The growth pace was the most rapid in 2013 with an increase of 52% against the previous year. Bone glue and gelatin production peaked at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Exports of Bone Glues and Gelatin

Exports from Singapore

In 2022, the amount of bone glues and gelatin exported from Singapore reduced notably to X tons, waning by -34.4% compared with the previous year. Over the period under review, exports faced a abrupt descent. The pace of growth was the most pronounced in 2014 with an increase of 40% against the previous year. As a result, the exports reached the peak of X tons. From 2015 to 2022, the growth of the exports remained at a lower figure.

In value terms, bone glue and gelatin exports fell notably to $X in 2022. In general, exports recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2013 when exports increased by 42% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Indonesia (X tons), the Philippines (X tons) and Vietnam (X tons) were the main destinations of bone glue and gelatin exports from Singapore.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Hong Kong SAR (with a CAGR of +57.7%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for bone glue and gelatin exported from Singapore were Hong Kong SAR ($X), Indonesia ($X) and the Philippines ($X), with a combined 66% share of total exports.

Among the main countries of destination, Hong Kong SAR, with a CAGR of +75.3%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average bone glue and gelatin export price stood at $X per ton in 2022, therefore, remained relatively stable against the previous year. Overall, export price indicated temperate growth from 2012 to 2022: its price increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, bone glue and gelatin export price increased by +100.5% against 2019 indices. The most prominent rate of growth was recorded in 2020 an increase of 41% against the previous year. The export price peaked in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Thailand (+13.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Bone Glues and Gelatin

Imports into Singapore

Bone glue and gelatin imports into Singapore plummeted to X tons in 2022, dropping by -25% on 2021. Overall, imports saw a abrupt decrease. The growth pace was the most rapid in 2015 when imports increased by 19% against the previous year. As a result, imports attained the peak of X tons. From 2016 to 2022, the growth of imports failed to regain momentum.

In value terms, bone glue and gelatin imports fell to $X in 2022. Over the period under review, imports recorded a abrupt decline. The pace of growth appeared the most rapid in 2020 with an increase of 45% against the previous year. Over the period under review, imports reached the peak figure at $X in 2015; however, from 2016 to 2022, imports remained at a lower figure.

Imports by Country

Brazil (X tons), Belgium (X tons) and China (X tons) were the main suppliers of bone glue and gelatin imports to Singapore.

From 2012 to 2022, the biggest increases were recorded for Australia (with a CAGR of +53.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest bone glue and gelatin suppliers to Singapore were Brazil ($X), Belgium ($X) and China ($X).

Among the main suppliers, Australia, with a CAGR of +62.3%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average bone glue and gelatin import price stood at $X per ton in 2022, growing by 17% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.4%. The most prominent rate of growth was recorded in 2020 when the average import price increased by 45%. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was France ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+6.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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