Singapore: Mixes And Doughs Market 2024

Mixes And Doughs Market Size in Singapore

After four years of decline, the Singaporean mixes and doughs market increased by 43% to $X in 2022. Over the period under review, consumption, however, recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market remained at a somewhat lower figure.

Mixes And Doughs Production in Singapore

In value terms, mixes and doughs production shrank to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 33% against the previous year. As a result, production attained the peak level of $X. From 2018 to 2022, production growth remained at a lower figure.

Mixes And Doughs Exports

Exports from Singapore

After ten years of growth, overseas shipments of mixes and doughs decreased by -14.5% to X tons in 2022. Overall, total exports indicated a buoyant expansion from 2012 to 2022: its volume increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2019 with an increase of 15%. Over the period under review, the exports attained the peak figure at X tons in 2021, and then reduced in the following year.

In value terms, mixes and doughs exports shrank to $X in 2022. The total export value increased at an average annual rate of +3.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 when exports increased by 14%. The exports peaked at $X in 2021, and then reduced in the following year.

Exports by Country

Australia (X tons), the United States (X tons) and the Netherlands (X tons) were the main destinations of mixes and doughs exports from Singapore, with a combined 33% share of total exports. The UK, China, Malaysia, France, Japan, Canada, Thailand, India, Indonesia and Taiwan (Chinese) lagged somewhat behind, together accounting for a further 49%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Taiwan (Chinese) (with a CAGR of +64.5%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for mixes and doughs exported from Singapore were Japan ($X), Australia ($X) and the United States ($X), together comprising 35% of total exports. The Netherlands, the UK, France, Malaysia, Canada, Indonesia, Taiwan (Chinese), China, Thailand and India lagged somewhat behind, together comprising a further 47%.

In terms of the main countries of destination, Taiwan (Chinese), with a CAGR of +67.0%, recorded the highest growth rate of 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

The average mixes and doughs export price stood at $X per ton in 2022, growing by 9.7% against the previous year. Over the period under review, the export price, however, continues to indicate a mild contraction. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to China ($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 Japan (+2.0%), while the prices for the other major destinations experienced more modest paces of growth.

Mixes And Doughs Imports

Imports into Singapore

In 2022, overseas purchases of mixes and doughs increased by 3.7% to X tons, rising for the fifth consecutive year after three years of decline. The total import volume increased at an average annual rate of +1.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2014 with an increase of 21% against the previous year. As a result, imports reached the peak of X tons. From 2015 to 2022, the growth of imports failed to regain momentum.

In value terms, mixes and doughs imports stood at $X in 2022. In general, total imports indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +70.5% against 2017 indices. The growth pace was the most rapid in 2018 when imports increased by 17% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, Malaysia (X tons) constituted the largest mixes and doughs supplier to Singapore, accounting for a 27% share of total imports. Moreover, mixes and doughs imports from Malaysia exceeded the figures recorded by the second-largest supplier, China (X tons), twofold. South Korea (X tons) ranked third in terms of total imports with a 9.6% share.

From 2012 to 2022, the average annual growth rate of volume from Malaysia totaled +4.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+10.7% per year) and South Korea (+18.1% per year).

In value terms, Malaysia ($X), China ($X) and the United States ($X) were the largest mixes and doughs suppliers to Singapore, with a combined 41% share of total imports. South Korea, Japan, New Zealand, France, Thailand, India, Belgium, Germany, Italy and Vietnam lagged somewhat behind, together accounting for a further 47%.

Belgium, with a CAGR of +49.5%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average mixes and doughs import price stood at $X per ton in 2022, growing by 5.6% against the previous year. Over the last decade, it increased at an average annual rate of +3.1%. The most prominent rate of growth was recorded in 2013 when the average import price increased by 11% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is likely to see steady growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+16.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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