Singapore: Market for Frozen, Dried And Smoked Fish 2024

Market Size for Frozen, Dried And Smoked Fish in Singapore

In 2022, the Singaporean market for frozen, dried and smoked fish increased by X% to $X, rising for the second consecutive year after two years of decline. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Production of Frozen, Dried And Smoked Fish in Singapore

In value terms, frozen, dried and smoked fish production contracted to $X in 2022 estimated in export price. In general, production, however, showed resilient growth. The pace of growth appeared the most rapid in 2016 with an increase of X%. Frozen, dried and smoked fish production peaked at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Exports of Frozen, Dried And Smoked Fish

Exports from Singapore

In 2022, frozen, dried and smoked fish exports from Singapore declined modestly to X tons, waning by X% against the previous year's figure. Over the period under review, exports showed a abrupt descent. The pace of growth was the most pronounced in 2015 with an increase of X%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, frozen, dried and smoked fish exports expanded modestly to $X in 2022. Overall, exports recorded a slight reduction. The growth pace was the most rapid in 2015 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Malaysia (X tons), China (X tons) and Indonesia (X tons) were the main destinations of frozen, dried and smoked fish exports from Singapore, together comprising X% of total exports. Japan, Brunei Darussalam, France, the United States, Hong Kong SAR, South Korea, Taiwan (Chinese), Vietnam, Thailand and Brazil lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by France (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X) remains the key foreign market for frozen, dried and smoked fish exports from Singapore, comprising X% of total exports. The second position in the ranking was held by Hong Kong SAR ($X), with a X% share of total exports. It was followed by Malaysia, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to China stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (X% per year) and Malaysia (X% per year).

Export Prices by Country

The average export price for frozen, dried and smoked fish stood at $X per ton in 2022, rising by X% against the previous year. Over the period under review, export price indicated a temperate increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, frozen, dried and smoked fish export price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2016 when the average export price increased by X% against the previous year. The export price peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to France ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Thailand (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Frozen, Dried And Smoked Fish

Imports into Singapore

In 2022, after two years of decline, there was growth in overseas purchases of frozen, dried and smoked fish, when their volume increased by X% to X tons. In general, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, frozen, dried and smoked fish imports skyrocketed to $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Vietnam (X tons), China (X tons) and Malaysia (X tons) were the main suppliers of frozen, dried and smoked fish imports to Singapore, with a combined X% share of total imports. Indonesia, Chile, Thailand, Norway, India, Ecuador, Spain, British Indian Ocean Territory, Myanmar and Japan lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Ecuador (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X), China ($X) and Malaysia ($X) appeared to be the largest frozen, dried and smoked fish suppliers to Singapore, together accounting for X% of total imports. Chile, Japan, Indonesia, Spain, Norway, India, Ecuador, Thailand, British Indian Ocean Territory and Myanmar lagged somewhat behind, together accounting for a further X%.

Ecuador, with a CAGR of X%, saw the highest growth rate of 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 import price for frozen, dried and smoked fish stood at $X per ton in 2022, picking up by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Japan ($X per ton), while the price for Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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