Singapore: Confectionery-Making Industrial Machinery Market 2024

Confectionery-Making Industrial Machinery Exports

Exports from Singapore

In 2022, shipments abroad of industrial machinery for the manufacture or preparation of confectionery, cocoa or chocolate decreased by -50.5% to X units for the first time since 2017, thus ending a four-year rising trend. Overall, exports faced a abrupt curtailment. The most prominent rate of growth was recorded in 2019 when exports increased by 48% against the previous year. Over the period under review, the exports attained the peak figure at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, confectionery-making industrial machinery exports contracted markedly to $X in 2022. In general, exports continue to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2016 with an increase of 55%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Indonesia (X units) was the main destination for confectionery-making industrial machinery exports from Singapore, accounting for a 66% share of total exports. Moreover, confectionery-making industrial machinery exports to Indonesia exceeded the volume sent to the second major destination, Malaysia (X units), sevenfold. Australia (X units) ranked third in terms of total exports with an 8.9% share.

From 2012 to 2022, the average annual growth rate of volume to Indonesia stood at -13.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (-4.0% per year) and Australia (+24.0% per year).

In value terms, Indonesia ($X) remains the key foreign market for industrial machinery for the manufacture or preparation of confectionery, cocoa or chocolate exports from Singapore, comprising 65% of total exports. The second position in the ranking was taken by Malaysia ($X), with an 11% share of total exports. It was followed by Australia, with an 8.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Indonesia totaled -15.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (-5.9% per year) and Australia (+74.0% per year).

Export Prices by Country

The average confectionery-making industrial machinery export price stood at $X per unit in 2022, falling by -32.8% against the previous year. In general, the export price recorded a pronounced contraction. The growth pace was the most rapid in 2018 when the average export price increased by 11% against the previous year. The export price peaked at $X per unit in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the countries with the highest prices were Taiwan (Chinese) ($X per unit) and China ($X per unit), while the average price for exports to Thailand ($X per unit) and Australia ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (-2.2%), while the prices for the other major destinations experienced a decline.

Confectionery-Making Industrial Machinery Imports

Imports into Singapore

Confectionery-making industrial machinery imports into Singapore declined sharply to X units in 2022, shrinking by -52.3% on 2021 figures. Over the period under review, imports showed a deep downturn. The most prominent rate of growth was recorded in 2019 when imports increased by 145%. Imports peaked at X units in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, confectionery-making industrial machinery imports shrank notably to $X in 2022. In general, imports faced a deep setback. The pace of growth was the most pronounced in 2019 with an increase of 123% against the previous year. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of confectionery-making industrial machinery to Singapore, accounting for a 53% share of total imports. Moreover, confectionery-making industrial machinery imports from China exceeded the figures recorded by the second-largest supplier, Italy (X units), threefold. The third position in this ranking was taken by Germany (X units), with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +57.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-6.0% per year) and Germany (-16.3% per year).

In value terms, the largest confectionery-making industrial machinery suppliers to Singapore were China ($X), Italy ($X) and Germany ($X), with a combined 81% share of total imports.

China, with a CAGR of +43.4%, 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 a decline.

Import Prices by Country

In 2022, the average confectionery-making industrial machinery import price amounted to $X per unit, dropping by -30.3% against the previous year. In general, the import price recorded a pronounced shrinkage. The pace of growth appeared the most rapid in 2014 an increase of 11%. Over the period under review, average import prices reached the maximum at $X per unit in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per unit), while the price for Malaysia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+1.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :