Singapore: Caviar (Sturgeon) Market 2024

Caviar (Sturgeon) Market Size in Singapore

In 2021, after four years of growth, there was significant decline in the Singaporean caviar (sturgeon) market, when its value decreased by -10.3% to $X. In general, consumption, however, showed resilient growth. Caviar (sturgeon) consumption peaked at $X in 2020, and then contracted in the following year.

Caviar (Sturgeon) Production in Singapore

In value terms, caviar (sturgeon) production contracted to $X in 2021 estimated in export price. In general, production, however, saw a buoyant increase. The growth pace was the most rapid in 2019 with an increase of 55%. Over the period under review, production reached the maximum level at $X in 2020, and then fell in the following year.

Caviar (Sturgeon) Exports

Exports from Singapore

In 2021, overseas shipments of caviar (sturgeon) increased by 169% to X kg, rising for the second consecutive year after three years of decline. Over the period under review, exports continue to indicate a significant increase. The pace of growth was the most pronounced in 2013 when exports increased by 2,115% against the previous year. The exports peaked at X tons in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

In value terms, caviar (sturgeon) exports surged to $X in 2021. Overall, exports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2013 when exports increased by 2,025% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Malaysia (X kg) was the main destination for caviar (sturgeon) exports from Singapore, with a 55% share of total exports. Moreover, caviar (sturgeon) exports to Malaysia exceeded the volume sent to the second major destination, Maldives (X kg), fourfold. The third position in this ranking was taken by Cambodia (X kg), with an 11% share.

From 2012 to 2021, the average annual growth rate of volume to Malaysia amounted to +51.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Maldives (+96.7% per year) and Cambodia (+30.1% per year).

In value terms, Maldives ($X), Hong Kong SAR ($X) and Malaysia ($X) constituted the largest markets for caviar (sturgeon) exported from Singapore worldwide, with a combined 79% share of total exports.

Among the main countries of destination, Maldives, with a CAGR of +80.4%, saw the highest growth rate of 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

In 2021, the average caviar (sturgeon) export price amounted to $X per ton, waning by -28.2% against the previous year. Overall, the export price showed a deep reduction. The most prominent rate of growth was recorded in 2019 when the average export price increased by 91% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2020 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to Cambodia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Australia (+9.5%), while the prices for the other major destinations experienced a decline.

Caviar (Sturgeon) Imports

Imports into Singapore

In 2021, imports of caviar (sturgeon) into Singapore soared to X tons, jumping by 97% against 2020 figures. Overall, imports posted a strong expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, caviar (sturgeon) imports surged to $X in 2021. Over the period under review, imports recorded a buoyant expansion. The most prominent rate of growth was recorded in 2013 with an increase of 59%. Over the period under review, imports reached the maximum in 2021 and are expected to retain growth in years to come.

Imports by Country

France (X tons), China (X tons) and Germany (X tons) were the main suppliers of caviar (sturgeon) imports to Singapore, with a combined 57% share of total imports. The United Arab Emirates, Belarus, Hong Kong SAR, Russia, Italy and Denmark lagged somewhat behind, together accounting for a further 32%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Hong Kong SAR (with a CAGR of +143.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, France ($X) constituted the largest supplier of caviar (sturgeon) to Singapore, comprising 49% of total imports. The second position in the ranking was taken by China ($X), with a 19% share of total imports. It was followed by Germany, with an 11% share.

From 2012 to 2021, the average annual growth rate of value from France totaled +16.2%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+45.6% per year) and Germany (+33.2% per year).

Import Prices by Country

The average caviar (sturgeon) import price stood at $X per ton in 2021, waning by -25.7% against the previous year. Over the period under review, import price indicated a notable expansion from 2012 to 2021: its price increased at an average annual rate of +4.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, caviar (sturgeon) import price decreased by -29.7% against 2018 indices. The most prominent rate of growth was recorded in 2013 when the average import price increased by 49% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2015; however, from 2016 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Denmark (+48.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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