Singapore: Preserved Asparagus Market 2025

Preserved Asparagus Market Size in Singapore

The Singaporean preserved asparagus market was estimated at $X in 2022, remaining constant against the previous year. The market value increased at an average annual rate of +1.8% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. Preserved asparagus consumption peaked in 2022 and is likely to continue growth in years to come.

Preserved Asparagus Production in Singapore

In value terms, preserved asparagus production expanded modestly to $X in 2022 estimated in export price. In general, production, however, recorded a deep setback. The pace of growth was the most pronounced in 2019 with an increase of 23% against the previous year. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Preserved Asparagus Exports

Exports from Singapore

In 2022, overseas shipments of preserved asparagus increased by 22% to X tons, rising for the second consecutive year after four years of decline. In general, exports, however, faced a precipitous shrinkage. The pace of growth appeared the most rapid in 2021 with an increase of 53%. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, preserved asparagus exports soared to $X in 2022. Over the period under review, exports, however, showed a abrupt decrease. The growth pace was the most rapid in 2021 when exports increased by 83% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

The Philippines (X tons), Malaysia (X tons) and Sri Lanka (X tons) were the main destinations of preserved asparagus exports from Singapore, with a combined 69% share of total exports. Indonesia, South Korea, Maldives and Bangladesh lagged somewhat behind, together accounting for a further 24%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by South Korea (with a CAGR of +31.0%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for preserved asparagus exported from Singapore were the Philippines ($X), Malaysia ($X) and Sri Lanka ($X), together accounting for 72% of total exports. Indonesia, South Korea, Maldives and Bangladesh lagged somewhat behind, together comprising a further 20%.

South Korea, with a CAGR of +31.1%, recorded the highest growth rate of the value of exports, among 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 2022, the average preserved asparagus export price amounted to $X per ton, which is down by -5.6% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.6%. The growth pace was the most rapid in 2013 when the average export price increased by 30%. The export price peaked at $X per ton in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Indonesia ($X per ton), while the average price for exports to South Korea ($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 Indonesia (+4.9%), while the prices for the other major destinations experienced more modest paces of growth.

Preserved Asparagus Imports

Imports into Singapore

In 2022, supplies from abroad of preserved asparagus increased by 11% to X tons, rising for the second consecutive year after three years of decline. Overall, imports, however, recorded a abrupt decline. The most prominent rate of growth was recorded in 2014 when imports increased by 160% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, preserved asparagus imports contracted to $X in 2022. In general, imports, however, saw a deep contraction. The growth pace was the most rapid in 2021 when imports increased by 76% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) was the main supplier of preserved asparagus to Singapore, accounting for a 99% share of total imports. It was followed by the United States (X kg), with a 0.1% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at -6.5%.

In value terms, China ($X) constituted the largest supplier of preserved asparagus to Singapore, comprising 94% of total imports. The second position in the ranking was held by the United States ($X), with a 0.3% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled -5.5%.

Import Prices by Country

The average preserved asparagus import price stood at $X per ton in 2022, falling by -10% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2013 when the average import price increased by 95%. As a result, import price reached the peak level of $X per ton. From 2014 to 2022, the average import prices remained at a somewhat 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 the United States ($X per ton), while the price for China amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+3.6%).

Source: IndexBox Platform

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