Singapore: Fruit-Preparation Industrial Machinery Market 2024

Fruit-Preparation Industrial Machinery Market Size in Singapore

The Singaporean fruit-preparation industrial machinery market soared to $X in 2021, increasing by 24% 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). In general, consumption, however, showed a pronounced curtailment. As a result, consumption reached the peak level of $X. From 2018 to 2021, the growth of the market remained at a lower figure.

Fruit-Preparation Industrial Machinery Exports

Exports from Singapore

In 2021, shipments abroad of industrial machinery for the preparation of fruits, nuts or vegetables decreased by -0.7% to X units, falling for the fourth year in a row after six years of growth. In general, exports, however, recorded a remarkable increase. The most prominent rate of growth was recorded in 2014 when exports increased by 87% against the previous year. The exports peaked at X units in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, fruit-preparation industrial machinery exports fell notably to $X in 2021. Overall, exports, however, enjoyed a prominent expansion. The pace of growth was the most pronounced in 2016 with an increase of 97% against the previous year. The exports peaked at $X in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Indonesia (X units) was the main destination for fruit-preparation industrial machinery exports from Singapore, accounting for a 65% share of total exports. Moreover, fruit-preparation industrial machinery exports to Indonesia exceeded the volume sent to the second major destination, Malaysia (X units), fivefold. Thailand (X units) ranked third in terms of total exports with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Indonesia totaled +5.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+7.0% per year) and Thailand (+66.6% per year).

In value terms, the largest markets for fruit-preparation industrial machinery exported from Singapore were Thailand ($X), Indonesia ($X) and India ($X), with a combined 68% share of total exports.

Thailand, with a CAGR of +79.7%, 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

In 2021, the average fruit-preparation industrial machinery export price amounted to $X per unit, dropping by -28.7% against the previous year. In general, the export price, however, saw a pronounced increase. The pace of growth appeared the most rapid in 2018 when the average export price increased by 75% against the previous year. The export price peaked at $X per unit in 2019; however, from 2020 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per unit), while the average price for exports to Vietnam ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (+24.1%), while the prices for the other major destinations experienced mixed trend patterns.

Fruit-Preparation Industrial Machinery Imports

Imports into Singapore

In 2021, the amount of industrial machinery for the preparation of fruits, nuts or vegetables imported into Singapore surged to X units, jumping by 17% compared with the year before. In general, imports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when imports increased by 563% against the previous year. As a result, imports attained the peak of X units. From 2018 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, fruit-preparation industrial machinery imports expanded rapidly to $X in 2021. Overall, imports, however, continue to indicate a slight contraction. The pace of growth was the most pronounced in 2014 with an increase of 141%. Over the period under review, imports reached the maximum at $X in 2017; however, from 2018 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X units) constituted the largest supplier of fruit-preparation industrial machinery to Singapore, with a 47% share of total imports. Moreover, fruit-preparation industrial machinery imports from China exceeded the figures recorded by the second-largest supplier, Spain (X units), fourfold. Thailand (X units) ranked third in terms of total imports with an 8.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +4.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+16.5% per year) and Thailand (+25.0% per year).

In value terms, the United States ($X) constituted the largest supplier of industrial machinery for the preparation of fruits, nuts or vegetables to Singapore, comprising 31% of total imports. The second position in the ranking was held by China ($X), with a 12% share of total imports. It was followed by the Philippines, with an 8.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States totaled +4.3%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+2.2% per year) and the Philippines (+10.1% per year).

Import Prices by Country

In 2021, the average fruit-preparation industrial machinery import price amounted to $X per unit, waning by -7.5% against the previous year. In general, the import price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the average import price increased by 207%. Over the period under review, average import prices hit record highs at $X per unit in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

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 the United States ($X per unit), while the price for South Korea ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+11.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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