Singapore: Preserved Frozen Potato Market 2024

Preserved Frozen Potato Market Size in Singapore

The Singaporean preserved frozen potato market skyrocketed to $X in 2021, growing by 39% 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). The market value increased at an average annual rate of +5.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Preserved Frozen Potato Exports

Exports from Singapore

Preserved frozen potato exports from Singapore surged to X tons in 2021, rising by 79% on the previous year. In general, exports, however, recorded a noticeable descent. The pace of growth appeared the most rapid in 2017 with an increase of 850% against the previous year. As a result, the exports attained the peak of X tons. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, preserved frozen potato exports surged to $X in 2021. Overall, exports, however, showed a abrupt downturn. The growth pace was the most rapid in 2017 with an increase of 801%. As a result, the exports reached the peak of $X. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Malaysia (X tons) was the main destination for preserved frozen potato exports from Singapore, accounting for a 27% share of total exports. Moreover, preserved frozen potato exports to Malaysia exceeded the volume sent to the second major destination, Hong Kong SAR (X tons), twofold. The third position in this ranking was taken by Oman (X tons), with a 13% share.

From 2012 to 2021, the average annual growth rate of volume to Malaysia amounted to -6.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (+34.4% per year) and Oman (+45.8% per year).

In value terms, the largest markets for preserved frozen potato exported from Singapore were Malaysia ($X), Oman ($X) and Hong Kong SAR ($X), with a combined 41% share of total exports. These countries were followed by Myanmar, New Zealand, Indonesia, Sri Lanka, Brunei Darussalam, Australia, Belgium, Timor-Leste and the Philippines, which together accounted for a further 36%.

Australia, with a CAGR of +34.9%, saw the highest rates of growth with regard to 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 preserved frozen potato export price stood at $X per ton in 2021, waning by -11.5% against the previous year. Over the period under review, the export price continues to indicate a mild contraction. The most prominent rate of growth was recorded in 2015 an increase of 20% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2016; however, from 2017 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Sri Lanka ($X per ton), while the average price for exports to Belgium ($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 Sri Lanka (+13.2%), while the prices for the other major destinations experienced more modest paces of growth.

Preserved Frozen Potato Imports

Imports into Singapore

Preserved frozen potato imports into Singapore skyrocketed to X tons in 2021, jumping by 53% compared with the previous year. Over the period under review, total imports indicated a resilient expansion from 2012 to 2021: its volume increased at an average annual rate of +5.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, preserved frozen potato imports soared to $X in 2021. The total import value increased at an average annual rate of +5.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, the United States (X tons) constituted the largest supplier of preserved frozen potato to Singapore, accounting for a 64% share of total imports. Moreover, preserved frozen potato imports from the United States exceeded the figures recorded by the second-largest supplier, Belgium (X tons), tenfold. The third position in this ranking was held by the Netherlands (X tons), with a 6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States amounted to +4.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+18.4% per year) and the Netherlands (+5.1% per year).

In value terms, the United States ($X) constituted the largest supplier of frozen potatoes prepared or preserved to Singapore, comprising 64% of total imports. The second position in the ranking was taken by Belgium ($X), with a 6.5% share of total imports. It was followed by the Netherlands, with a 6% share.

From 2012 to 2021, the average annual growth rate of value from the United States amounted to +3.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+22.0% per year) and the Netherlands (+8.5% per year).

Import Prices by Country

In 2021, the average preserved frozen potato import price amounted to $X per ton, declining by -10.2% against the previous year. Overall, the import price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 an increase of 4.2%. Over the period under review, average import prices hit record highs at $X per ton in 2019; however, from 2020 to 2021, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, the highest price was recorded for prices from the United States ($X per ton) and Malaysia ($X per ton), while the price for New Zealand ($X per ton) and Canada ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+3.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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