Singapore: Bottled Water Market 2024

Bottled Water Market Size in Singapore

In 2022, the Singaporean bottled water market was finally on the rise to reach $X for the first time since 2019, thus ending a two-year declining trend. In general, consumption saw a prominent increase. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Bottled Water Production in Singapore

In value terms, bottled water production expanded slightly to $X in 2022 estimated in export price. In general, production, however, saw a significant expansion. The growth pace was the most rapid in 2015 when the production volume increased by 212% against the previous year. Bottled water production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Bottled Water Exports

Exports from Singapore

In 2022, shipments abroad of bottled waters increased by 22% to X tons, rising for the second year in a row after two years of decline. In general, exports, however, showed a abrupt curtailment. The pace of growth appeared the most rapid in 2014 when exports increased by 102% 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 somewhat lower figure.

In value terms, bottled water exports surged to $X in 2022. Over the period under review, exports, however, recorded a perceptible setback. The most prominent rate of growth was recorded in 2014 when exports increased by 196%. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Hong Kong SAR (X tons), Malaysia (X tons) and the United States (X tons) were the main destinations of bottled water exports from Singapore, with a combined 58% share of total exports. Papua New Guinea, China, the Philippines, Brunei Darussalam, Thailand, the United Arab Emirates, Bangladesh, Palau, Micronesia and Indonesia lagged somewhat behind, together comprising a further 39%.

From 2012 to 2022, the biggest increases were recorded for Palau (with a CAGR of +26.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Hong Kong SAR ($X) emerged as the key foreign market for bottled waters exports from Singapore, comprising 40% of total exports. The second position in the ranking was taken by Malaysia ($X), with a 17% share of total exports. It was followed by China, with a 6.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Hong Kong SAR was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+7.3% per year) and China (+21.3% per year).

Export Prices by Country

The average bottled water export price stood at $X per ton in 2022, growing by 84% against the previous year. Over the period under review, the export price posted a resilient expansion. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to Papua New Guinea ($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 Hong Kong SAR (+12.2%), while the prices for the other major destinations experienced more modest paces of growth.

Bottled Water Imports

Imports into Singapore

After three years of decline, overseas purchases of bottled waters increased by 11% to X tons in 2022. Over the period under review, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when imports increased by 21%. Over the period under review, imports attained the maximum at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, bottled water imports surged to $X in 2022. The total import value increased at an average annual rate of +4.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Malaysia (X tons) was the main supplier of bottled water to Singapore, with a 90% share of total imports. It was followed by France (X tons), with a 2.7% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from Malaysia was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: France (+1.1% per year) and Indonesia (-4.8% per year).

In value terms, Malaysia ($X) constituted the largest supplier of bottled waters to Singapore, comprising 62% of total imports. The second position in the ranking was taken by France ($X), with a 15% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Malaysia stood at +4.5%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+3.6% per year) and Indonesia (-0.6% per year).

Import Prices by Country

In 2022, the average bottled water import price amounted to $X per ton, picking up by 32% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.5%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was France ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+4.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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