Singapore: Medicaments Containing Vitamins Market 2024

Medicaments Containing Vitamins Market Size in Singapore

The Singaporean medicaments containing vitamins market reduced remarkably to $X in 2021, waning by -43.9% against the previous year. Overall, consumption continues to indicate a mild shrinkage. Medicaments containing vitamins consumption peaked at $X in 2020, and then declined markedly in the following year.

Medicaments Containing Vitamins Production in Singapore

In value terms, medicaments containing vitamins production shrank to $X in 2021 estimated in export price. Overall, the total production indicated a slight expansion from 2012 to 2021: its value increased at an average annual rate of +1.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -15.8% against 2018 indices. The pace of growth was the most pronounced in 2018 when the production volume increased by 80%. As a result, production reached the peak level of $X. From 2019 to 2021, production growth remained at a lower figure.

Medicaments Containing Vitamins Exports

Exports from Singapore

In 2021, approx. X tons of medicaments containing vitamins and provitamins were exported from Singapore; picking up by 13% against 2020 figures. In general, exports continue to indicate a tangible increase. The most prominent rate of growth was recorded in 2018 with an increase of 585%. The exports peaked in 2021 and are likely to see steady growth in the near future.

In value terms, medicaments containing vitamins exports expanded rapidly to $X in 2021. Over the period under review, exports recorded notable growth. The growth pace was the most rapid in 2018 with an increase of 591%. The exports peaked in 2021 and are expected to retain growth in the near future.

Exports by Country

Indonesia (X tons), Hong Kong SAR (X tons) and the United States (X tons) were the main destinations of medicaments containing vitamins exports from Singapore, with a combined 69% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Hong Kong SAR (with a CAGR of +60.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), Hong Kong SAR ($X) and the United States ($X) were the largest markets for medicaments containing vitamins exported from Singapore worldwide, with a combined 68% share of total exports.

In terms of the main countries of destination, Hong Kong SAR, with a CAGR of +58.7%, 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 medicaments containing vitamins export price amounted to $X per ton, waning by -5.8% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the average export price increased by 4.8%. Over the period under review, the average export prices attained the maximum at $X per ton in 2020, and then fell in the following year.

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 Cambodia ($X per ton), while the average price for exports to the Netherlands ($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 Ghana (+1,151.9%), while the prices for the other major destinations experienced more modest paces of growth.

Medicaments Containing Vitamins Imports

Imports into Singapore

In 2021, overseas purchases of medicaments containing vitamins and provitamins decreased by -36.3% to X tons, falling for the second consecutive year after four years of growth. Overall, imports, however, recorded a temperate expansion. The most prominent rate of growth was recorded in 2019 with an increase of 72% against the previous year. As a result, imports attained the peak of X tons. From 2020 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, medicaments containing vitamins imports dropped sharply to $X in 2021. In general, imports, however, showed strong growth. The pace of growth was the most pronounced in 2019 when imports increased by 73% against the previous year. As a result, imports reached the peak of $X. From 2020 to 2021, the growth of imports remained at a lower figure.

Imports by Country

Germany (X tons), India (X tons) and the United States (X tons) were the main suppliers of medicaments containing vitamins imports to Singapore, with a combined 38% share of total imports. These countries were followed by Australia, Malaysia, China, Vietnam, Colombia, the UK, Pakistan, France, Indonesia and Switzerland, which together accounted for a further 38%.

From 2012 to 2021, the biggest increases were recorded for Pakistan (with a CAGR of +108.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), India ($X) and the United States ($X) appeared to be the largest medicaments containing vitamins suppliers to Singapore, together accounting for 37% of total imports.

In terms of the main suppliers, India, with a CAGR of +30.7%, 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

The average medicaments containing vitamins import price stood at $X per ton in 2021, picking up by 1.6% against the previous year. Over the last nine years, it increased at an average annual rate of +1.6%. The pace of growth appeared the most rapid in 2014 when the average import price increased by 5.5% against the previous year. Over the period under review, average import prices attained the peak figure in 2021 and is expected to retain growth in the near future.

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 Switzerland ($X per ton), while the price for Pakistan ($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 (+24.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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