Singapore: Market for Paper Sacks And Bags 2024

Market Size for Paper Sacks And Bags in Singapore

The Singaporean paper sack and bag market surged to $X in 2021, rising 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). The market value increased at an average annual rate of +4.7% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Exports of Paper Sacks And Bags

Exports from Singapore

In 2021, shipments abroad of paper sacks and bags decreased by -2.2% to X tons, falling for the second consecutive year after two years of growth. Overall, exports recorded a pronounced slump. The most prominent rate of growth was recorded in 2019 when exports increased by 15%. Over the period under review, the exports hit record highs at X tons in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, paper sack and bag exports rose markedly to $X in 2021. The total export value increased at an average annual rate of +4.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 with an increase of 21% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Indonesia (X tons), Malaysia (X tons) and Thailand (X tons) were the main destinations of paper sack and bag exports from Singapore, with a combined 57% share of total exports. China, the Philippines, Vietnam, Australia, Oman, South Korea, Japan, Taiwan (Chinese) and Hong Kong SAR lagged somewhat behind, together accounting for a further 38%.

From 2012 to 2021, the biggest increases were recorded for Oman (with a CAGR of +110.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for paper sack and bag exported from Singapore were Thailand ($X), Malaysia ($X) and China ($X), together accounting for 42% of total exports. Indonesia, the Philippines, Australia, South Korea, Japan, Vietnam, Hong Kong SAR, Taiwan (Chinese) and Oman lagged somewhat behind, together accounting for a further 51%.

Oman, with a CAGR of +83.4%, recorded the highest growth rate of 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 paper sack and bag export price amounted to $X per ton, growing by 7.9% against the previous year. In general, export price indicated prominent growth from 2012 to 2021: its price increased at an average annual rate of +7.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, paper sack and bag export price increased by +95.0% against 2014 indices. The most prominent rate of growth was recorded in 2015 an increase of 26%. Over the period under review, the average export prices attained the maximum in 2021 and is likely to continue growth in years to come.

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 South Korea ($X per ton), while the average price for exports to Oman ($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 Hong Kong SAR (+23.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Paper Sacks And Bags

Imports into Singapore

In 2021, supplies from abroad of paper sacks and bags increased by 28% to X tons for the first time since 2018, thus ending a two-year declining trend. The total import volume increased at an average annual rate of +3.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, paper sack and bag imports surged to $X in 2021. The total import value increased at an average annual rate of +3.0% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. Imports peaked at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

China (X tons), Malaysia (X tons) and Indonesia (X tons) were the main suppliers of paper sack and bag imports to Singapore, together accounting for 86% of total imports. Vietnam, Germany, Taiwan (Chinese) and Thailand lagged somewhat behind, together accounting for a further 7.9%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Vietnam (with a CAGR of +26.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest paper sack and bag suppliers to Singapore were China ($X), Malaysia ($X) and Vietnam ($X), with a combined 80% share of total imports.

Vietnam, with a CAGR of +28.5%, saw the highest growth rate of 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

In 2021, the average paper sack and bag import price amounted to $X per ton, dropping by -9.2% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the average import price increased by 18% against the previous year. The import price peaked at $X per ton in 2019; however, from 2020 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+6.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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