Singapore: Canned Vegetable Market 2025

Canned Vegetable Market Size in Singapore

The Singaporean canned vegetable market skyrocketed to $X in 2022, jumping by 21% 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). In general, consumption recorded a buoyant expansion. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Canned Vegetable Exports

Exports from Singapore

In 2022, overseas shipments of canned vegetables increased by 38% to X tons, rising for the second consecutive year after two years of decline. Overall, exports, however, continue to indicate a noticeable slump. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, canned vegetable exports surged to $X in 2022. The total export value increased at an average annual rate of +2.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 with an increase of 24%. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the near future.

Exports by Country

Indonesia (X tons) was the main destination for canned vegetable exports from Singapore, accounting for a 34% share of total exports. Moreover, canned vegetable exports to Indonesia exceeded the volume sent to the second major destination, Malaysia (X tons), twofold. The third position in this ranking was held by the Philippines (X tons), with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Indonesia totaled +1.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (-11.2% per year) and the Philippines (-2.0% per year).

In value terms, Indonesia ($X), the Philippines ($X) and Malaysia ($X) appeared to be the largest markets for canned vegetable exported from Singapore worldwide, together accounting for 58% of total exports. Hong Kong SAR, China, Bangladesh, Mongolia, Maldives, Brunei Darussalam, Thailand, Timor-Leste, Sri Lanka and Seychelles lagged somewhat behind, together comprising a further 24%.

In terms of the main countries of destination, Mongolia, with a CAGR of +107.8%, recorded the highest rates of growth with regard to 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

In 2022, the average canned vegetable export price amounted to $X per ton, waning by -13.1% against the previous year. In general, the export price, however, saw a buoyant increase. The growth pace was the most rapid in 2020 when the average export price increased by 34% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2021 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Timor-Leste ($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 (+15.8%), while the prices for the other major destinations experienced more modest paces of growth.

Canned Vegetable Imports

Imports into Singapore

Canned vegetable imports into Singapore surged to X tons in 2022, increasing by 40% on the previous year. Over the period under review, total imports indicated a pronounced increase from 2012 to 2022: its volume increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -18.8% against 2020 indices. The most prominent rate of growth was recorded in 2020 with an increase of 72%. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, canned vegetable imports soared to $X in 2022. Overall, imports continue to indicate a strong expansion. The pace of growth was the most pronounced in 2020 with an increase of 44%. As a result, imports reached the peak of $X. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of canned vegetable to Singapore, with a 43% share of total imports. Moreover, canned vegetable imports from China exceeded the figures recorded by the second-largest supplier, Thailand (X tons), threefold. Italy (X tons) ranked third in terms of total imports with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +12.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+3.0% per year) and Italy (+2.6% per year).

In value terms, China ($X), the United States ($X) and Malaysia ($X) appeared to be the largest canned vegetable suppliers to Singapore, together comprising 67% of total imports. Thailand, Italy, South Korea, Taiwan (Chinese), Spain and Vietnam lagged somewhat behind, together comprising a further 21%.

In terms of the main suppliers, Vietnam, with a CAGR of +52.0%, 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 canned vegetable import price amounted to $X per ton, dropping by -16.6% against the previous year. In general, import price indicated a notable expansion from 2012 to 2022: its price increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, canned vegetable import price increased by +15.2% against 2020 indices. The most prominent rate of growth was recorded in 2021 an increase of 38% against the previous year. As a result, import price reached the peak level of $X per ton, and then declined markedly in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+10.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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