Singapore: Market for Mineral or Aerated Waters 2024

Market Size for Mineral or Aerated Waters in Singapore

The Singaporean mineral or aerated water market amounted to $X in 2022, remaining constant against the previous year. The market value increased at an average annual rate of +3.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Production of Mineral or Aerated Waters in Singapore

In value terms, mineral or aerated water production totaled $X in 2022 estimated in export price. In general, the total production indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +6.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -2.5% against 2020 indices. The most prominent rate of growth was recorded in 2019 when the production volume increased by 68%. Over the period under review, production reached the peak level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Exports of Mineral or Aerated Waters

Exports from Singapore

In 2022, shipments abroad of mineral or aerated waters increased by 102% to X tons, rising for the second consecutive year after two years of decline. Overall, exports, however, faced a abrupt decrease. The most prominent rate of growth was recorded in 2014 with an increase of 119%. As a result, the exports reached the peak of X tons. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, mineral or aerated water exports soared to $X in 2022. In general, exports, however, continue to indicate a noticeable decrease. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Hong Kong SAR (X tons) was the main destination for mineral or aerated water exports from Singapore, with a 44% share of total exports. Moreover, mineral or aerated water exports to Hong Kong SAR exceeded the volume sent to the second major destination, the United States (X tons), fivefold. The third position in this ranking was held by the Philippines (X tons), with a 6.3% share.

From 2012 to 2022, the average annual growth rate of volume to Hong Kong SAR totaled -11.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+15.8% per year) and the Philippines (-1.9% per year).

In value terms, Hong Kong SAR ($X) remains the key foreign market for mineral or aerated waters exports from Singapore, comprising 50% of total exports. The second position in the ranking was held by Malaysia ($X), with an 11% share of total exports. It was followed by Brunei Darussalam, with a 4.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Hong Kong SAR was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+0.6% per year) and Brunei Darussalam (+20.5% per year).

Export Prices by Country

The average mineral or aerated water export price stood at $X per ton in 2022, growing by 94% against the previous year. Overall, the export price posted a resilient expansion. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Malaysia ($X per ton), while the average price for exports to the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (+14.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Mineral or Aerated Waters

Imports into Singapore

In 2022, supplies from abroad of mineral or aerated waters decreased by -5.1% to X tons, falling for the fourth consecutive year after five years of growth. In general, imports showed a abrupt decrease. The pace of growth was the most pronounced in 2017 when imports increased by 92%. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, mineral or aerated water imports skyrocketed to $X in 2022. Over the period under review, imports, however, recorded a relatively flat trend pattern. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Malaysia (X tons) constituted the largest mineral or aerated water supplier to Singapore, with a 47% share of total imports. Moreover, mineral or aerated water imports from Malaysia exceeded the figures recorded by the second-largest supplier, France (X tons), threefold. The third position in this ranking was held by Indonesia (X tons), with a 16% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Malaysia totaled -10.9%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+0.5% per year) and Indonesia (-4.8% per year).

In value terms, France ($X), Malaysia ($X) and Italy ($X) constituted the largest mineral or aerated water suppliers to Singapore, with a combined 73% share of total imports. Indonesia, South Korea and the UK lagged somewhat behind, together comprising a further 12%.

Among the main suppliers, South Korea, with a CAGR of +22.8%, 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 mineral or aerated water import price stood at $X per ton in 2022, with an increase of 46% against the previous year. In general, the import price showed a remarkable increase. The growth pace was the most rapid in 2019 when the average import price increased by 75%. The import price peaked in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Italy ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+5.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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