Singapore: Market for Grape Juice (Single Strength) 2024

Market Size for Grape Juice (Single Strength) in Singapore

The Singaporean grape juice (single strength) market rose significantly to $X in 2021, picking up by 12% 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). Overall, consumption, however, continues to indicate a perceptible setback. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Exports of Grape Juice (Single Strength)

Exports from Singapore

In 2021, grape juice (single strength) exports from Singapore reduced notably to X tons, with a decrease of -61.4% against 2020. In general, exports saw a abrupt contraction. The most prominent rate of growth was recorded in 2020 when exports increased by 208%. The exports peaked at X tons in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, grape juice (single strength) exports reduced to $X in 2021. Over the period under review, exports saw a abrupt setback. The most prominent rate of growth was recorded in 2013 with an increase of 141%. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Cambodia (X tons), Vietnam (X tons) and Brunei Darussalam (X tons) were the main destinations of grape juice (single strength) exports from Singapore, with a combined 65% share of total exports. These countries were followed by the Philippines, South Korea, Timor-Leste, Papua New Guinea, Malaysia and Indonesia, which together accounted for a further 33%.

From 2012 to 2021, the biggest increases were recorded for the Philippines (with a CAGR of +17.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for grape juice (single strength) exported from Singapore were Vietnam ($X), Brunei Darussalam ($X) and the Philippines ($X), together comprising 74% of total exports.

In terms of the main countries of destination, Vietnam, with a CAGR of +27.0%, saw the highest growth rate of 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

The average grape juice (single strength) export price stood at $X per ton in 2021, jumping by 123% against the previous year. In general, the export price posted resilient growth. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while the average price for exports to South Korea ($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 Vietnam (+15.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Grape Juice (Single Strength)

Imports into Singapore

In 2021, grape juice (single strength) imports into Singapore dropped to X tons, reducing by -4.7% against the previous year. Overall, imports recorded a abrupt shrinkage. The pace of growth was the most pronounced in 2016 with an increase of 16%. Imports peaked at X tons in 2013; however, from 2014 to 2021, imports remained at a lower figure.

In value terms, grape juice (single strength) imports amounted to $X in 2021. In general, imports continue to indicate a noticeable reduction. The pace of growth was the most pronounced in 2019 with an increase of 13% against the previous year. Over the period under review, imports attained the maximum at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

Belgium (X tons), Egypt (X tons) and South Africa (X tons) were the main suppliers of grape juice (single strength) imports to Singapore, together accounting for 64% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Egypt (with a CAGR of +41.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Belgium ($X), the United States ($X) and Japan ($X) were the largest grape juice (single strength) suppliers to Singapore, together accounting for 66% of total imports. These countries were followed by South Africa, Egypt, China, Cyprus, France, Malaysia, Australia and Spain, which together accounted for a further 26%.

In terms of the main suppliers, Egypt, with a CAGR of +28.2%, 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 grape juice (single strength) import price amounted to $X per ton, surging by 8.2% against the previous year. Over the last nine years, it increased at an average annual rate of +3.5%. The growth pace was the most rapid in 2018 when the average import price increased by 35% against the previous year. The import price peaked in 2021 and is likely to see gradual growth in years to come.

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 Australia ($X per ton), while the price for Egypt ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Australia (+28.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :