Singapore: Market for Protein Concentrates and Flavoured or Coloured Sugar Syrups 2024

Market Size for Protein Concentrates and Flavoured or Coloured Sugar Syrups in Singapore

The Singaporean market for protein concentrates and flavoured or coloured sugar syrups shrank markedly to $X in 2021, which is down by -47.5% against the previous year. Over the period under review, consumption saw a abrupt decrease. Consumption of peaked at $X in 2015; however, from 2016 to 2021, consumption failed to regain momentum.

Production of Protein Concentrates and Flavoured or Coloured Sugar Syrups in Singapore

In value terms, production of protein concentrates and flavoured or coloured sugar syrups surged to $X in 2021 estimated in export price. Overall, production, however, showed a dramatic curtailment. Over the period under review, production of reached the peak level at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Exports of Protein Concentrates and Flavoured or Coloured Sugar Syrups

Exports from Singapore

In 2021, after two years of growth, there was significant decline in overseas shipments of protein concentrates and flavoured or coloured sugar syrups, when their volume decreased by -6% to X tons. Over the period under review, exports, however, saw a buoyant increase. The pace of growth appeared the most rapid in 2019 when exports increased by 45%. The exports peaked at X tons in 2020, and then fell in the following year.

In value terms, exports of protein concentrates and flavoured or coloured sugar syrups dropped modestly to $X in 2021. In general, exports, however, showed significant growth. The most prominent rate of growth was recorded in 2019 when exports increased by 161% against the previous year. Over the period under review, the exports of hit record highs at $X in 2020, and then declined slightly in the following year.

Exports by Country

Japan (X tons) was the main destination for exports of protein concentrates and flavoured or coloured sugar syrups from Singapore, with a 62% share of total exports. Moreover, exports of protein concentrates and flavoured or coloured sugar syrups to Japan exceeded the volume sent to the second major destination, Israel (X tons), fourfold. Malaysia (X tons) ranked third in terms of total exports with a 6.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Japan totaled +40.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Israel (+40.9% per year) and Malaysia (+0.9% per year).

In value terms, Japan ($X) remains the key foreign market for protein concentrates and flavoured or coloured sugar syrups exports from Singapore, comprising 83% of total exports. The second position in the ranking was taken by Malaysia ($X), with a 5.6% share of total exports. It was followed by Israel, with a 2.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Japan totaled +55.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+14.5% per year) and Israel (+47.0% per year).

Export Prices by Country

In 2021, the average export price for protein concentrates and flavoured or coloured sugar syrups amounted to $X per ton, with an increase of 5.2% against the previous year. In general, the export price saw a remarkable increase. The pace of growth was the most pronounced in 2019 an increase of 80% against the previous year. The export price peaked in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (+13.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Protein Concentrates and Flavoured or Coloured Sugar Syrups

Imports into Singapore

In 2021, the amount of protein concentrates and flavoured or coloured sugar syrups imported into Singapore fell dramatically to X tons, which is down by -44.1% against the year before. Over the period under review, imports saw a deep slump. The pace of growth appeared the most rapid in 2020 when imports increased by 76% against the previous year. Over the period under review, imports of attained the peak figure at X tons in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

In value terms, imports of protein concentrates and flavoured or coloured sugar syrups contracted significantly to $X in 2021. Overall, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 65% against the previous year. As a result, imports reached the peak of $X, and then dropped dramatically in the following year.

Imports by Country

Malaysia (X tons), China (X tons) and the UK (X tons) were the main suppliers of imports of protein concentrates and flavoured or coloured sugar syrups to Singapore, with a combined 69% share of total imports. These countries were followed by the United States, Taiwan (Chinese) and Poland, which together accounted for a further 25%.

From 2012 to 2021, the biggest increases were recorded for Poland (with a CAGR of +115.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest protein concentrate and flavoured or coloured sugar syrup suppliers to Singapore were the United States ($X), Malaysia ($X) and the UK ($X), together comprising 68% of total imports.

Among the main suppliers, the UK, with a CAGR of +100.2%, 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 2021, the average import price for protein concentrates and flavoured or coloured sugar syrups amounted to $X per ton, therefore, remained relatively stable against the previous year. Overall, the import price, however, continues to indicate strong growth. The most prominent rate of growth was recorded in 2019 an increase of 62%. As a result, import price reached the peak level of $X per ton. From 2020 to 2021, the average import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+8.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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