Singapore: Market for Extracts And Juices Of Meat, Fish, Crustaceans And Molluscs 2025

Market Size for Extracts And Juices Of Meat, Fish, Crustaceans And Molluscs in Singapore

The Singaporean meat and fish extracts market amounted to $X in 2021, surging by 15% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, continues to indicate a relatively flat trend pattern. Meat and fish extracts consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Exports of Extracts And Juices Of Meat, Fish, Crustaceans And Molluscs

Exports from Singapore

In 2021, overseas shipments of extracts and juices of meat, fish, crustaceans and molluscs decreased by -40.1% to X tons, falling for the third consecutive year after two years of growth. In general, exports saw a drastic downturn. The growth pace was the most rapid in 2014 with an increase of 171%. As a result, the exports reached the peak of X tons. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, meat and fish extracts exports dropped sharply to $X in 2021. Overall, exports saw a abrupt descent. The pace of growth appeared the most rapid in 2014 with an increase of 234%. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

Indonesia (X tons), China (X kg) and Australia (X kg) were the main destinations of meat and fish extracts exports from Singapore, with a combined 87% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by China (with a CAGR of +65.9%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for meat and fish extracts exported from Singapore were China ($X), Indonesia ($X) and Australia ($X), together comprising 80% of total exports.

China, with a CAGR of +47.9%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average meat and fish extracts export price stood at $X per ton in 2021, jumping by 16% against the previous year. Overall, export price indicated a perceptible expansion from 2012 to 2021: its price increased at an average annual rate of +2.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, meat and fish extracts export price increased by +87.8% against 2017 indices. The growth pace was the most rapid in 2020 when the average export price increased by 47%. Over the period under review, the average export prices hit record highs in 2021 and is likely to see gradual growth in years to come.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Australia ($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 (+13.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Extracts And Juices Of Meat, Fish, Crustaceans And Molluscs

Imports into Singapore

In 2021, imports of extracts and juices of meat, fish, crustaceans and molluscs into Singapore was estimated at X tons, approximately equating the previous year. In general, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 22% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, meat and fish extracts imports soared to $X in 2021. Overall, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 30%. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Malaysia (X tons) was the main supplier of meat and fish extracts to Singapore, accounting for a 91% share of total imports. It was followed by Japan (X tons), with a 2.1% share of total imports. China (X tons) ranked third in terms of total imports with a 2% share.

From 2012 to 2021, the average annual growth rate of volume from Malaysia amounted to +3.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+9.2% per year) and China (-10.7% per year).

In value terms, Malaysia ($X) constituted the largest supplier of extracts and juices of meat, fish, crustaceans and molluscs to Singapore, comprising 84% of total imports. The second position in the ranking was held by Thailand ($X), with a 2.4% share of total imports. It was followed by China, with a 1.9% share.

From 2012 to 2021, the average annual growth rate of value from Malaysia totaled +5.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (-24.4% per year) and China (-11.0% per year).

Import Prices by Country

The average meat and fish extracts import price stood at $X per ton in 2021, increasing by 14% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from Thailand ($X per ton) and China ($X per ton), while the price for Japan ($X per ton) and Malaysia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+1.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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