Singapore: Market for Pasta Stuffed With Meat, Fish and Cheese 2024

Market Size for Pasta Stuffed With Meat, Fish and Cheese in Singapore

The Singaporean market for pasta stuffed with meat, fish and cheese expanded sharply to $X in 2022, picking up by 13% 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). Overall, consumption posted strong growth. Meat, fish or cheese pasta consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Exports of Pasta Stuffed With Meat, Fish and Cheese

Exports from Singapore

After two years of decline, overseas shipments of pasta stuffed with meat, fish and cheese increased by 2.7% to X tons in 2022. Overall, exports enjoyed buoyant growth. The pace of growth appeared the most rapid in 2018 with an increase of 76%. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, meat, fish or cheese pasta exports reached $X in 2022. Over the period under review, exports posted a remarkable increase. The pace of growth appeared the most rapid in 2018 when exports increased by 78% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Indonesia (X tons) was the main destination for meat, fish or cheese pasta exports from Singapore, with a 55% share of total exports. Moreover, meat, fish or cheese pasta exports to Indonesia exceeded the volume sent to the second major destination, the United Arab Emirates (X tons), sevenfold. Maldives (X tons) ranked third in terms of total exports with a 7.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Indonesia stood at +13.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+7.7% per year) and Maldives (+89.2% per year).

In value terms, Indonesia ($X) remains the key foreign market for pasta stuffed with meat, fish and cheese exports from Singapore, comprising 35% of total exports. The second position in the ranking was taken by Maldives ($X), with a 15% share of total exports. It was followed by the United Arab Emirates, with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Indonesia stood at +12.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Maldives (+94.5% per year) and the United Arab Emirates (+11.2% per year).

Export Prices by Country

The average export price for pasta stuffed with meat, fish and cheese stood at $X per ton in 2022, surging by 3.4% against the previous year. Over the last decade, it increased at an average annual rate of +1.9%. The most prominent rate of growth was recorded in 2017 an increase of 33%. Over the period under review, the average export prices reached the peak figure in 2022 and is expected to retain growth in the near future.

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 Maldives ($X per ton), while the average price for exports to Indonesia ($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 the Philippines (+5.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Pasta Stuffed With Meat, Fish and Cheese

Imports into Singapore

In 2022, approx. X tons of pasta stuffed with meat, fish and cheese were imported into Singapore; growing by 13% against the year before. Over the period under review, imports saw a remarkable increase. The growth pace was the most rapid in 2018 when imports increased by 116%. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, meat, fish or cheese pasta imports expanded notably to $X in 2022. Overall, imports continue to indicate buoyant growth. The pace of growth appeared the most rapid in 2018 when imports increased by 123%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

Imports by Country

Thailand (X tons), Malaysia (X tons) and the United States (X tons) were the main suppliers of meat, fish or cheese pasta imports to Singapore, together accounting for 61% of total imports.

From 2012 to 2022, the biggest increases were recorded for Malaysia (with a CAGR of +81.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest meat, fish or cheese pasta suppliers to Singapore were Thailand ($X), Malaysia ($X) and Vietnam ($X), with a combined 65% share of total imports.

Among the main suppliers, Malaysia, with a CAGR of +95.8%, 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

In 2022, the average import price for pasta stuffed with meat, fish and cheese amounted to $X per ton, almost unchanged from the previous year. Over the period under review, import price indicated noticeable growth from 2012 to 2022: its price increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, meat, fish or cheese pasta import price increased by +56.3% against 2012 indices. The growth pace was the most rapid in 2016 an increase of 15% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2021, and then contracted slightly in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+10.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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