Singapore: Market for Flours, Meals And Pellets Of Meat Or Meat Offal 2024

Market Size for Flours, Meals And Pellets Of Meat Or Meat Offal in Singapore

The Singaporean meat meals and pellets market surged to $X in 2021, growing by 98% 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). Over the period under review, consumption saw a significant increase. Meat meals and pellets consumption peaked in 2021 and is likely to continue growth in the near future.

Exports of Flours, Meals And Pellets Of Meat Or Meat Offal

Exports from Singapore

In 2021, meat meals and pellets exports from Singapore contracted remarkably to X tons, which is down by -54.5% on 2020 figures. Over the period under review, exports faced a abrupt curtailment. The growth pace was the most rapid in 2018 with an increase of 250% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, meat meals and pellets exports declined notably to $X in 2021. Overall, exports showed a deep contraction. The growth pace was the most rapid in 2020 with an increase of 204%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Lao People's Democratic Republic (X tons) was the main destination for meat meals and pellets exports from Singapore, with a 51% share of total exports. Moreover, meat meals and pellets exports to Lao People's Democratic Republic exceeded the volume sent to the second major destination, the Philippines (X tons), threefold. Malaysia (X tons) ranked third in terms of total exports with a 16% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Lao People's Democratic Republic stood at +193.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (-26.9% per year) and Malaysia (+72.8% per year).

In value terms, Lao People's Democratic Republic ($X) emerged as the key foreign market for flours, meals and pellets of meat or meat offal exports from Singapore, comprising 58% of total exports. The second position in the ranking was taken by the Philippines ($X), with a 14% share of total exports. It was followed by Malaysia, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Lao People's Democratic Republic stood at +298.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (-28.9% per year) and Malaysia (+55.3% per year).

Export Prices by Country

The average meat meals and pellets export price stood at $X per ton in 2021, with an increase of 14% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. Over the period under review, the average export prices reached the peak figure at $X per ton in 2015; however, from 2016 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Indonesia ($X per ton), while the average price for exports to Malaysia ($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 Lao People's Democratic Republic (+35.6%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Flours, Meals And Pellets Of Meat Or Meat Offal

Imports into Singapore

Meat meals and pellets imports into Singapore surged to X tons in 2021, jumping by 59% on the previous year's figure. In general, imports saw a significant expansion. The growth pace was the most rapid in 2018 when imports increased by 340% against the previous year. Over the period under review, imports attained the maximum in 2021 and are likely to see steady growth in the near future.

In value terms, meat meals and pellets imports soared to $X in 2021. Overall, imports recorded a significant expansion. The pace of growth was the most pronounced in 2018 when imports increased by 308%. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the near future.

Imports by Country

France (X tons), Belgium (X tons) and the Netherlands (X tons) were the main suppliers of meat meals and pellets imports to Singapore, together comprising 31% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by France (with a CAGR of +195.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, France ($X), the Netherlands ($X) and Belgium ($X) were the largest meat meals and pellets suppliers to Singapore, with a combined 30% share of total imports.

Among the main suppliers, France, with a CAGR of +116.7%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average meat meals and pellets import price amounted to $X per ton, with an increase of 30% against the previous year. In general, the import price saw a relatively flat trend pattern. Over the period under review, average import prices attained the maximum at $X per ton in 2015; however, from 2016 to 2021, import prices remained at a 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 Poland ($X per ton), while the price for Croatia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Poland (+3.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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