Singapore: Sweet Biscuit Market 2024

Sweet Biscuit Market Size in Singapore

The Singaporean sweet biscuit market fell slightly to $X in 2021, standing approx. at 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). The market value increased at an average annual rate of +2.2% from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations in certain years. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market remained at a somewhat lower figure.

Sweet Biscuit Exports

Exports from Singapore

In 2021, shipments abroad of sweet biscuits was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. The total export volume increased at an average annual rate of +1.2% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. Over the period under review, the exports reached the peak figure at X tons in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

In value terms, sweet biscuit exports expanded significantly to $X in 2021. Overall, total exports indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +5.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 when exports increased by 33%. As a result, the exports reached the peak of $X. From 2017 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Malaysia (X tons), Japan (X tons) and Taiwan (Chinese) (X tons) were the main destinations of sweet biscuit exports from Singapore, together comprising 35% of total exports. China, Hong Kong SAR, Saudi Arabia, Vietnam, Australia, the United Arab Emirates, the Philippines, the UK, Kuwait and Brunei Darussalam lagged somewhat behind, together accounting for a further 41%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the UK (with a CAGR of +32.6%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for sweet biscuit exported from Singapore were Japan ($X), Malaysia ($X) and China ($X), with a combined 34% share of total exports. These countries were followed by Australia, Taiwan (Chinese), Vietnam, the UK, the Philippines, Saudi Arabia, the United Arab Emirates, Kuwait, Hong Kong SAR and Brunei Darussalam, which together accounted for a further 43%.

The UK, with a CAGR of +34.0%, saw the highest growth rate of the value of exports, in terms of 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 2021, the average sweet biscuit export price amounted to $X per ton, waning by -3.3% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +4.2%. The pace of growth appeared the most rapid in 2016 when the average export price increased by 20%. As a result, the export price attained the peak level of $X per ton. From 2017 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Japan ($X per ton), while the average price for exports to Malaysia ($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 the Philippines (+10.6%), while the prices for the other major destinations experienced more modest paces of growth.

Sweet Biscuit Imports

Imports into Singapore

In 2021, imports of sweet biscuits into Singapore stood at X tons, standing approx. at the year before. The total import volume increased at an average annual rate of +1.8% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2015 with an increase of 12% against the previous year. Over the period under review, imports attained the maximum at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, sweet biscuit imports expanded remarkably to $X in 2021. The total import value increased at an average annual rate of +1.7% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 with an increase of 14% against the previous year. Imports peaked in 2021 and are likely to continue growth in years to come.

Imports by Country

In 2021, Malaysia (X tons) constituted the largest supplier of sweet biscuit to Singapore, accounting for a 47% share of total imports. Moreover, sweet biscuit imports from Malaysia exceeded the figures recorded by the second-largest supplier, Indonesia (X tons), fourfold. The third position in this ranking was taken by the UK (X tons), with an 8.6% share.

From 2012 to 2021, the average annual growth rate of volume from Malaysia totaled +2.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+0.6% per year) and the UK (+3.5% per year).

In value terms, Malaysia ($X) constituted the largest supplier of sweet biscuits to Singapore, comprising 38% of total imports. The second position in the ranking was held by the UK ($X), with a 9.4% share of total imports. It was followed by Indonesia, with a 7.7% share.

From 2012 to 2021, the average annual growth rate of value from Malaysia amounted to +4.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+2.1% per year) and Indonesia (-0.6% per year).

Import Prices by Country

In 2021, the average sweet biscuit import price amounted to $X per ton, picking up by 9.2% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. Over the period under review, average import prices attained the maximum at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Japan ($X per ton), while the price for Bangladesh ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+1.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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