Singapore: Coffee Extract Market 2024

Coffee Extract Market Size in Singapore

In 2021, the Singaporean coffee extract market increased by 6.7% to $X, rising for the fourth consecutive year after four years of decline. In general, consumption, however, showed a noticeable decline. As a result, consumption reached the peak level of $X. From 2014 to 2021, the growth of the market remained at a lower figure.

Coffee Extract Production in Singapore

In value terms, coffee extract production rose remarkably to $X in 2021 estimated in export price. In general, production, however, continues to indicate a deep downturn. Coffee extract production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Coffee Extract Exports

Exports from Singapore

In 2021, shipments abroad of coffee extracts, essences and concentrates increased by 8.6% to X tons for the first time since 2017, thus ending a three-year declining trend. Overall, exports, however, faced a abrupt downturn. The pace of growth appeared the most rapid in 2017 with an increase of 36% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, coffee extract exports reached $X in 2021. In general, exports, however, faced a deep contraction. The pace of growth was the most pronounced in 2017 with an increase of 38% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Cambodia (X tons), Malaysia (X tons) and the United Arab Emirates (X tons) were the main destinations of coffee extract exports from Singapore, with a combined 52% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Cambodia (with a CAGR of +62.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Cambodia ($X), Malaysia ($X) and Hong Kong SAR ($X) appeared to be the largest markets for coffee extract exported from Singapore worldwide, together accounting for 40% of total exports.

In terms of the main countries of destination, Cambodia, with a CAGR of +52.2%, 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 coffee extract export price stood at $X per ton in 2021, with a decrease of -7.1% against the previous year. Overall, the export price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when the average export price increased by 23% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2016 to 2021, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Kazakhstan ($X per ton), while the average price for exports to Liberia ($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 Kazakhstan (+27.3%), while the prices for the other major destinations experienced more modest paces of growth.

Coffee Extract Imports

Imports into Singapore

For the third year in a row, Singapore recorded growth in purchases abroad of coffee extracts, essences and concentrates, which increased by 10% to X tons in 2021. The total import volume increased at an average annual rate of +1.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2020 when imports increased by 16%. Imports peaked in 2021 and are likely to continue growth in years to come.

In value terms, coffee extract imports amounted to $X in 2021. Overall, imports, however, showed a slight decline. The pace of growth appeared the most rapid in 2017 when imports increased by 27%. Imports peaked at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Malaysia (X tons) constituted the largest supplier of coffee extract to Singapore, with a 74% share of total imports. Moreover, coffee extract imports from Malaysia exceeded the figures recorded by the second-largest supplier, Indonesia (X tons), eightfold. Brazil (X tons) ranked third in terms of total imports with a 6.3% share.

From 2012 to 2021, the average annual growth rate of volume from Malaysia amounted to +2.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+1.9% per year) and Brazil (-2.0% per year).

In value terms, Malaysia ($X) constituted the largest supplier of coffee extracts, essences and concentrates to Singapore, comprising 55% of total imports. The second position in the ranking was taken by Indonesia ($X), with a 12% share of total imports. It was followed by Brazil, with an 8.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Malaysia was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (-1.9% per year) and Brazil (-5.1% per year).

Import Prices by Country

In 2021, the average coffee extract import price amounted to $X per ton, which is down by -3.1% against the previous year. In general, the import price recorded a noticeable reduction. The pace of growth appeared the most rapid in 2017 an increase of 19% against the previous year. As a result, import price attained the peak level of $X per ton. From 2018 to 2021, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (-1.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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