Singapore: Market for Manufactured Tobacco, Extracts And Essences 2024

Market Size for Manufactured Tobacco, Extracts And Essences in Singapore

In 2021, the Singaporean market for manufactured tobacco, extracts and essences increased by 184% to $X, rising for the second consecutive year after two years of decline. Over the period under review, consumption enjoyed a measured increase. Over the period under review, the market hit record highs at $X in 2017; afterwards, it flattened through to 2021.

Production of Manufactured Tobacco, Extracts And Essences in Singapore

In value terms, manufactured tobacco, extracts and essences production stood at $X in 2021 estimated in export price. Overall, production, however, continues to indicate a mild decrease. The most prominent rate of growth was recorded in 2017 with an increase of 50% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2021, production growth remained at a lower figure.

Exports of Manufactured Tobacco, Extracts And Essences

Exports from Singapore

In 2021, shipments abroad of manufactured tobacco, extracts and essences decreased by -76.8% to X tons, falling for the second year in a row after three years of growth. Over the period under review, exports, however, continue to indicate prominent growth. The most prominent rate of growth was recorded in 2019 when exports increased by 506% against the previous year. As a result, the exports reached the peak of X tons. From 2020 to 2021, the growth of the exports remained at a lower figure.

In value terms, manufactured tobacco, extracts and essences exports fell notably to $X in 2021. In general, exports recorded a mild descent. The most prominent rate of growth was recorded in 2015 when exports increased by 394% against the previous year. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

Exports by Country

Pakistan (X tons) was the main destination for manufactured tobacco, extracts and essences exports from Singapore, with a 49% share of total exports. Moreover, manufactured tobacco, extracts and essences exports to Pakistan exceeded the volume sent to the second major destination, Thailand (X tons), twofold. The third position in this ranking was taken by Indonesia (X tons), with a 15% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Pakistan totaled +154.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (+27.0% per year) and Indonesia (-2.1% per year).

In value terms, the largest markets for manufactured tobacco, extracts and essences exported from Singapore were Thailand ($X), Vietnam ($X) and Pakistan ($X), with a combined 79% share of total exports.

In terms of the main countries of destination, Pakistan, with a CAGR of +171.6%, recorded 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 export price for manufactured tobacco, extracts and essences amounted to $X per ton, waning by -8.4% against the previous year. Over the period under review, the export price recorded a abrupt descent. The pace of growth appeared the most rapid in 2015 when the average export price increased by 116% against the previous year. The export price peaked at $X per ton in 2018; however, from 2019 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 Malaysia ($X per ton), while the average price for exports to Pakistan ($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 Malaysia (+11.1%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Manufactured Tobacco, Extracts And Essences

Imports into Singapore

In 2021, supplies from abroad of manufactured tobacco, extracts and essences decreased by -67.3% to X tons, falling for the second year in a row after three years of growth. Over the period under review, imports, however, saw a notable expansion. The growth pace was the most rapid in 2019 with an increase of 180%. As a result, imports reached the peak of X tons. From 2020 to 2021, the growth of imports failed to regain momentum.

In value terms, manufactured tobacco, extracts and essences imports fell rapidly to $X in 2021. Overall, imports, however, saw a remarkable increase. The pace of growth appeared the most rapid in 2019 when imports increased by 186% against the previous year. As a result, imports attained the peak of $X. From 2020 to 2021, the growth of imports failed to regain momentum.

Imports by Country

China (X tons), India (X tons) and Russia (X tons) were the main suppliers of manufactured tobacco, extracts and essences imports to Singapore, together comprising 94% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Russia (with a CAGR of +65.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of manufactured tobacco, extracts and essences to Singapore, comprising 46% of total imports. The second position in the ranking was taken by Russia ($X), with a 22% share of total imports. It was followed by India, with a 20% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +37.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (+45.7% per year) and India (+3.6% per year).

Import Prices by Country

In 2021, the average import price for manufactured tobacco, extracts and essences amounted to $X per ton, jumping by 25% against the previous year. Overall, import price indicated a remarkable increase from 2012 to 2021: its price increased at an average annual rate of +5.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, manufactured tobacco, extracts and essences import price increased by +39.5% against 2018 indices. The pace of growth appeared the most rapid in 2015 when the average import price increased by 55% against the previous year. The import price peaked in 2021 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Russia ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cambodia (+601.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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