Singapore: Market for Preparations Used In Animal Feeding 2024

Market Size for Preparations Used In Animal Feeding in Singapore

For the third year in a row, the Singaporean preparations for animal feeding market recorded growth in sales value, which increased by 0.6% to $X in 2022. In general, the total consumption indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +66.1% against 2013 indices. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in the near future.

Production of Preparations Used In Animal Feeding in Singapore

In value terms, preparations for animal feeding production contracted modestly to $X in 2022 estimated in export price. Over the period under review, the total production indicated a temperate expansion from 2012 to 2022: its value increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +2.0% against 2020 indices. The growth pace was the most rapid in 2017 when the production volume increased by 34% against the previous year. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Exports of Preparations Used In Animal Feeding

Exports from Singapore

Preparations for animal feeding exports from Singapore rose markedly to X tons in 2022, growing by 10% on the previous year's figure. Overall, exports posted buoyant growth. The pace of growth was the most pronounced in 2020 when exports increased by 143%. Over the period under review, the exports attained the peak figure in 2022 and are likely to see steady growth in years to come.

In value terms, preparations for animal feeding exports expanded slightly to $X in 2022. Over the period under review, total exports indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +35.7% against 2016 indices. The most prominent rate of growth was recorded in 2020 with an increase of 24%. The exports peaked in 2022 and are likely to see steady growth in the near future.

Exports by Country

Indonesia (X tons) was the main destination for preparations for animal feeding exports from Singapore, accounting for a 64% share of total exports. Moreover, preparations for animal feeding exports to Indonesia exceeded the volume sent to the second major destination, Vietnam (X tons), ninefold. The Philippines (X tons) ranked third in terms of total exports with a 4.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Indonesia amounted to +7.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+7.0% per year) and the Philippines (+2.7% per year).

In value terms, Indonesia ($X) remains the key foreign market for preparations used in animal feeding exports from Singapore, comprising 32% of total exports. The second position in the ranking was taken by Vietnam ($X), with a 14% share of total exports. It was followed by the Philippines, with an 8.8% share.

From 2012 to 2022, the average annual growth rate of value to Indonesia stood at +3.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+5.7% per year) and the Philippines (+4.4% per year).

Export Prices by Country

The average preparations for animal feeding export price stood at $X per ton in 2022, declining by -7.4% against the previous year. In general, the export price continues to indicate a slight slump. The pace of growth appeared the most rapid in 2017 when the average export price increased by 51%. The export price peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Bangladesh ($X per ton), while the average price for exports to Indonesia ($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 Bangladesh (+4.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Preparations Used In Animal Feeding

Imports into Singapore

In 2022, overseas purchases of preparations used in animal feeding increased by 9.8% to X tons, rising for the fourth year in a row after five years of decline. Over the period under review, imports enjoyed a strong increase. The growth pace was the most rapid in 2020 when imports increased by 296%. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, preparations for animal feeding imports expanded notably to $X in 2022. Overall, imports showed buoyant growth. The pace of growth appeared the most rapid in 2021 when imports increased by 38% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, Malaysia (X tons) constituted the largest preparations for animal feeding supplier to Singapore, with a 84% share of total imports. Moreover, preparations for animal feeding imports from Malaysia exceeded the figures recorded by the second-largest supplier, Thailand (X tons), more than tenfold. The third position in this ranking was held by the United States (X tons), with a 2.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Malaysia amounted to +50.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+2.5% per year) and the United States (-3.7% per year).

In value terms, Malaysia ($X) constituted the largest supplier of preparations used in animal feeding to Singapore, comprising 41% of total imports. The second position in the ranking was taken by Thailand ($X), with a 13% share of total imports. It was followed by the United States, with an 11% share.

From 2012 to 2022, the average annual growth rate of value from Malaysia totaled +40.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+9.2% per year) and the United States (+2.7% per year).

Import Prices by Country

In 2022, the average preparations for animal feeding import price amounted to $X per ton, standing approx. at the previous year. In general, the import price showed a abrupt slump. The pace of growth was the most pronounced in 2017 an increase of 22%. The import price peaked at $X per ton in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

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 China ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+16.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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