Singapore: Market for Caviar (Salmon) And Caviar Substitutes 2024

Market Size for Caviar (Salmon) And Caviar Substitutes in Singapore

The Singaporean market for caviar (salmon) and caviar substitutes skyrocketed to $X in 2021, rising by 112% against the previous year. Overall, consumption saw a strong expansion. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Production of Caviar (Salmon) And Caviar Substitutes in Singapore

In value terms, caviar (salmon) and caviar substitutes production totaled $X in 2021 estimated in export price. Overall, production recorded a abrupt contraction. The pace of growth was the most pronounced in 2014 when the production volume increased by 251%. Over the period under review, production reached the maximum level at $X in 2017; however, from 2018 to 2021, production stood at a somewhat lower figure.

Exports of Caviar (Salmon) And Caviar Substitutes

Exports from Singapore

In 2021, approx. X tons of caviar (salmon) and caviar substitutes were exported from Singapore; with a decrease of -14.9% compared with 2020 figures. Over the period under review, exports saw a abrupt downturn. The most prominent rate of growth was recorded in 2019 with an increase of 792%. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, caviar (salmon) and caviar substitutes exports contracted notably to $X in 2021. In general, exports saw a deep slump. The most prominent rate of growth was recorded in 2019 with an increase of 776%. As a result, the exports attained the peak of $X. From 2020 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Malaysia (X tons) was the main destination for caviar (salmon) and caviar substitutes exports from Singapore, accounting for a 86% share of total exports. Moreover, caviar (salmon) and caviar substitutes exports to Malaysia exceeded the volume sent to the second major destination, Indonesia (X kg), sixfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Malaysia amounted to -3.2%.

In value terms, Malaysia ($X) remains the key foreign market for caviar (salmon) and caviar substitutes exports from Singapore, comprising 90% of total exports. The second position in the ranking was held by Indonesia ($X), with a 9.9% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Malaysia amounted to -4.0%.

Export Prices by Country

The average export price for caviar (salmon) and caviar substitutes stood at $X per ton in 2021, dropping by -50.2% against the previous year. In general, the export price continues to indicate a slight decrease. The most prominent rate of growth was recorded in 2016 when the average export price increased by 32% against the previous year. The export price peaked at $X per ton in 2020, and then shrank significantly in the following year.

Prices varied noticeably country of destination: the country with the highest price was Malaysia ($X per ton), while the average price for exports to Indonesia amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (-0.8%).

Imports of Caviar (Salmon) And Caviar Substitutes

Imports into Singapore

In 2021, overseas purchases of caviar (salmon) and caviar substitutes increased by 43% to X tons, rising for the third year in a row after three years of decline. Overall, imports continue to indicate a significant expansion. The growth pace was the most rapid in 2020 when imports increased by 661%. Over the period under review, imports attained the peak figure in 2021 and are likely to continue growth in the near future.

In value terms, caviar (salmon) and caviar substitutes imports skyrocketed to $X in 2021. In general, imports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2020 when imports increased by 708% against the previous year. Imports peaked in 2021 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2021, Japan (X tons) constituted the largest supplier of caviar (salmon) and caviar substitutes to Singapore, with a 65% share of total imports. Moreover, caviar (salmon) and caviar substitutes imports from Japan exceeded the figures recorded by the second-largest supplier, Sweden (X tons), sixfold. France (X tons) ranked third in terms of total imports with a 9.1% share.

From 2012 to 2021, the average annual growth rate of volume from Japan totaled +35.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Sweden (+49.9% per year) and France (+35.7% per year).

In value terms, Japan ($X) constituted the largest supplier of caviar (salmon) and caviar substitutes to Singapore, comprising 65% of total imports. The second position in the ranking was taken by France ($X), with an 11% share of total imports. It was followed by Spain, with an 11% share.

From 2012 to 2021, the average annual growth rate of value from Japan amounted to +36.0%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+27.4% per year) and Spain (+333.4% per year).

Import Prices by Country

The average import price for caviar (salmon) and caviar substitutes stood at $X per ton in 2021, jumping by 20% against the previous year. Over the last nine years, it increased at an average annual rate of +1.1%. The most prominent rate of growth was recorded in 2018 an increase of 21%. The import price peaked in 2021 and is likely to see steady growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Germany ($X per ton), while the price for Sweden ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+2.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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