Singapore: Organ Extracts Market 2024

Organ Extracts Market Size in Singapore

In 2021, the Singaporean organ extracts market decreased by -14.7% to $X for the first time since 2015, thus ending a five-year rising trend. Over the period under review, consumption recorded a slight curtailment. Over the period under review, the market reached the maximum level at $X in 2020, and then shrank in the following year.

Organ Extracts Exports

Exports from Singapore

In 2021, the amount of extracts of glands or other organs or of their secretions exported from Singapore declined notably to X tons, dropping by -49% on the year before. In general, exports, however, recorded a noticeable expansion. The most prominent rate of growth was recorded in 2013 when exports increased by 64,914%. As a result, the exports reached the peak of X tons. From 2014 to 2021, the growth of the exports failed to regain momentum.

In value terms, organ extracts exports plummeted to $X in 2021. Overall, exports, however, posted a perceptible expansion. The most prominent rate of growth was recorded in 2013 when exports increased by 67,502%. As a result, the exports attained the peak of $X. From 2014 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Germany (X tons) was the main destination for organ extracts exports from Singapore, with a 85% share of total exports. It was followed by the Philippines (X kg), with a 2.2% share of total exports. The Netherlands (X kg) ranked third in terms of total exports with a 2.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Germany stood at +15.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (+2,600.0% per year) and the Netherlands (-28.7% per year).

In value terms, the largest markets for organ extracts exported from Singapore were Malaysia ($X), Latvia ($X) and Germany ($X), with a combined 16% share of total exports. The Netherlands, the Philippines, the UK and Indonesia lagged somewhat behind, together accounting for a further 2.5%.

The Netherlands, with a CAGR of +50.0%, saw the highest rates of growth with regard to the value of exports, among 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

In 2021, the average organ extracts export price amounted to $X per ton, growing by 2.5% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 an increase of 40%. As a result, the export price reached the peak level of $X per ton. From 2016 to 2021, the average export prices failed to regain momentum.

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 Malaysia ($X per ton), while the average price for exports to Germany ($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 Indonesia (+70.2%), while the prices for the other major destinations experienced more modest paces of growth.

Organ Extracts Imports

Imports into Singapore

In 2021, approx. X tons of extracts of glands or other organs or of their secretions were imported into Singapore; reducing by -27.2% compared with 2020. Over the period under review, imports recorded a mild contraction. The growth pace was the most rapid in 2016 when imports increased by 70% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, organ extracts imports reduced dramatically to $X in 2021. Overall, imports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 with an increase of 64%. Imports peaked at $X in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Malaysia (X tons), New Zealand (X kg) and the United States (X kg) were the main suppliers of organ extracts imports to Singapore, together accounting for 47% of total imports. These countries were followed by the UK, Italy, China, Japan, India, Canada and Australia, which together accounted for a further 28%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +36.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest organ extracts suppliers to Singapore were the United States ($X), China ($X) and the UK ($X), with a combined 27% share of total imports.

China, with a CAGR of +101.5%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average organ extracts import price stood at $X per ton in 2021, increasing by 5.1% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.7%. The most prominent rate of growth was recorded in 2013 when the average import price increased by 17% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

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 China ($X per ton), while the price for New Zealand ($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 (+95.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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