Singapore: Fructose Market 2025

Fructose Market Size in Singapore

The Singaporean fructose market rose notably to $X in 2021, surging by 7.5% 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 +1.9% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when the market value increased by 9.2% against the previous year. Fructose consumption peaked in 2021 and is likely to see gradual growth in years to come.

Fructose Exports

Exports from Singapore

In 2021, the amount of fructose and fructose syrup exported from Singapore soared to X tons, rising by 110% against 2020 figures. Over the period under review, exports continue to indicate a resilient increase. The most prominent rate of growth was recorded in 2018 with an increase of 123%. Over the period under review, the exports reached the peak figure in 2021 and are likely to see gradual growth in the immediate term.

In value terms, fructose exports skyrocketed to $X in 2021. In general, exports enjoyed a notable increase. The pace of growth appeared the most rapid in 2018 when exports increased by 186%. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Malaysia (X tons) was the main destination for fructose exports from Singapore, with a 55% share of total exports. Moreover, fructose exports to Malaysia exceeded the volume sent to the second major destination, Indonesia (X tons), fourfold. Thailand (X tons) ranked third in terms of total exports with an 8.9% share.

From 2012 to 2021, the average annual growth rate of volume to Malaysia stood at +23.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+5.5% per year) and Thailand (+45.8% per year).

In value terms, the largest markets for fructose exported from Singapore were Thailand ($X), the Philippines ($X) and Malaysia ($X), together comprising 64% of total exports.

In terms of the main countries of destination, Thailand, with a CAGR of +67.5%, saw the highest rates of growth with regard to the value of exports, 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 fructose export price amounted to $X per ton, waning by -23.8% against the previous year. In general, the export price continues to indicate a perceptible slump. The most prominent rate of growth was recorded in 2017 when the average export price increased by 32%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($X per ton), while the average price for exports to Papua New Guinea ($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 Taiwan (Chinese) (+25.3%), while the prices for the other major destinations experienced more modest paces of growth.

Fructose Imports

Imports into Singapore

In 2021, the amount of fructose and fructose syrup imported into Singapore rose notably to X tons, with an increase of 13% against 2020. The total import volume increased at an average annual rate of +3.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 with an increase of 14% against the previous year. Imports peaked in 2021 and are likely to see gradual growth in the near future.

In value terms, fructose imports rose markedly to $X in 2021. The total import value increased at an average annual rate of +1.8% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The pace of growth appeared the most rapid in 2018 with an increase of 16%. Imports peaked in 2021 and are expected to retain growth in the immediate term.

Imports by Country

Malaysia (X tons), China (X tons) and Belgium (X tons) were the main suppliers of fructose imports to Singapore, with a combined 78% share of total imports. These countries were followed by Thailand, France, the United States and Indonesia, which together accounted for a further 16%.

From 2012 to 2021, the biggest increases were recorded for Thailand (with a CAGR of +18.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X), China ($X) and Belgium ($X) were the largest fructose suppliers to Singapore, together comprising 73% of total imports.

Malaysia, with a CAGR of +13.2%, recorded the highest rates of growth with regard to the value of imports, among 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 fructose import price stood at $X per ton in 2021, stabilizing at the previous year. Overall, the import price, however, continues to indicate a noticeable decrease. The growth pace was the most rapid in 2018 an increase of 1.7% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2013; however, from 2014 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 Belgium ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+1.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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