Singapore: Market for Processed cheese (excluding grated or powdered) 2021

Market Size for Processed cheese (excluding grated or powdered) in Singapore

The Singaporean market for processed cheese (excluding grated or powdered) stood at $X in 2020, increasing by X% against the previous year. Overall, the total consumption indicated perceptible growth from 2007 to 2020: its value increased at an average annual rate of +X% over the last thirteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, consumption increased by +X% against 2018 indices. The growth pace was the most rapid in 2012 when the market value increased by X% y-o-y. Consumption peaked at $X in 2013; however, from 2014 to 2020, consumption failed to regain the momentum.

Production of Processed cheese (excluding grated or powdered) in Singapore

In value terms, production of processed cheese (excluding grated or powdered) surged to $X in 2020 estimated in export prices. Over the period under review, production enjoyed a strong increase. As a result, production reached the peak level and is likely to continue growth in the immediate term.

Exports of Processed cheese (excluding grated or powdered)

Exports from Singapore

After three years of growth, overseas shipments of processed cheese (excluding grated or powdered) decreased by -X% to X tons in 2020. Overall, exports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2009 with an increase of X% y-o-y. Exports peaked at X tons in 2019, and then shrank markedly in the following year.

In value terms, exports of processed cheese (excluding grated or powdered) shrank dramatically to $X in 2020. Over the period under review, exports, however, enjoyed temperate growth. The pace of growth was the most pronounced in 2013 when exports increased by X% against the previous year. Over the period under review, exports attained the maximum at $X in 2019, and then reduced notably in the following year.

Exports by Country

Malaysia (X tons) was the main destination for exports of processed cheese (excluding grated or powdered) from Singapore, with a X% share of total exports. Moreover, exports of processed cheese (excluding grated or powdered) to Malaysia exceeded the volume sent to the second major destination, China (X tons), threefold. The third position in this ranking was occupied by Hong Kong SAR (X tons), with a X% share.

From 2007 to 2020, the average annual rate of growth in terms of volume to Malaysia totaled +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+X% per year) and Hong Kong SAR (+X% per year).

In value terms, Malaysia ($X) remains the key foreign market for processed cheese (excluding grated or powdered) exports from Singapore, comprising X% of total exports. The second position in the ranking was occupied by China ($X), with a X% share of total exports. It was followed by Hong Kong SAR, with a X% share.

From 2007 to 2020, the average annual growth rate of value to Malaysia totaled +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+X% per year) and Hong Kong SAR (+X% per year).

Export Prices by Country

The average export price for processed cheese (excluding grated or powdered) stood at $X per ton in 2020, rising by X% against the previous year. Over the period from 2007 to 2020, it increased at an average annual rate of +X%. The most prominent rate of growth was recorded in 2008 an increase of X% y-o-y. The export price peaked at $X per ton in 2014; however, from 2015 to 2020, export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2020, the country with the highest price was Cambodia ($X per ton), while the average price for exports to China ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Thailand, while the prices for the other major destinations experienced more modest paces of growth.

Imports of Processed cheese (excluding grated or powdered)

Imports into Singapore

In 2020, the amount of processed cheese (excluding grated or powdered) imported into Singapore contracted dramatically to X tons, shrinking by -X% against the year before. Over the period under review, imports continue to indicate a noticeable slump. The most prominent rate of growth was recorded in 2012 with an increase of X% y-o-y. Over the period under review, imports reached the peak figure at X tons in 2013; however, from 2014 to 2020, imports failed to regain the momentum.

In value terms, imports of processed cheese (excluding grated or powdered) dropped notably to $X in 2020. In general, imports showed a perceptible decrease. The most prominent rate of growth was recorded in 2012 when imports increased by X% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2020, imports stood at a somewhat lower figure.

Imports by Country

In 2020, Australia (X tons) constituted the largest supplier of processed cheese (excluding grated or powdered) to Singapore, with a X% share of total imports. Moreover, imports of processed cheese (excluding grated or powdered) from Australia exceeded the figures recorded by the second-largest supplier, New Zealand (X tons), twofold. The U.S. (X tons) ranked third in terms of total imports with a X% share.

From 2007 to 2020, the average annual growth rate of volume from Australia stood at -X%. The remaining supplying countries recorded the following average annual rates of imports growth: New Zealand (-X% per year) and the U.S. (+X% per year).

In value terms, the largest processed cheese (excluding grated or powdered) suppliers to Singapore were Australia ($X), New Zealand ($X) and France ($X), together comprising X% of total imports. The U.S., Italy, Denmark and the UK lagged somewhat behind, together accounting for a further X terms of the main suppliers, Denmark recorded the highest rates of growth with regard to 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 2020, the average import price for processed cheese (excluding grated or powdered) amounted to $X per ton, picking up by X% against the previous year. Over the period from 2007 to 2020, it increased at an average annual rate of +X%. The pace of growth appeared the most rapid in 2012 when the average import price increased by X% y-o-y. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 to 2020, import prices remained at a lower figure.

Prices varied noticeably by the country of origin; the country with the highest price was France ($X per ton), while the price for the U.S. ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by New Zealand, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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