Singapore: Table Knife Market 2024

Table Knife Market Size in Singapore

In 2022, the Singaporean table knife market increased by 183% to $X for the first time since 2017, thus ending a four-year declining trend. Overall, consumption continues to indicate buoyant growth. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market failed to regain momentum.

Table Knife Production in Singapore

In value terms, table knife production soared to $X in 2022 estimated in export price. Over the period under review, production posted buoyant growth. Over the period under review, production attained the maximum level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Table Knife Exports

Exports from Singapore

In 2022, shipments abroad of table knives was finally on the rise to reach X units after three years of decline. In general, exports showed a strong increase. The pace of growth appeared the most rapid in 2018 with an increase of 1,050% against the previous year. The exports peaked at X units in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, table knife exports skyrocketed to $X in 2022. Over the period under review, exports recorded a prominent increase. The most prominent rate of growth was recorded in 2018 with an increase of 1,282%. As a result, the exports attained the peak of $X. From 2019 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

China (X units) was the main destination for table knife exports from Singapore, accounting for a 57% share of total exports. Moreover, table knife exports to China exceeded the volume sent to the second major destination, Malaysia (X units), threefold. The third position in this ranking was taken by Indonesia (X units), with a 9.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to China stood at +108.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+16.5% per year) and Indonesia (-5.7% per year).

In value terms, China ($X) remains the key foreign market for table knives exports from Singapore, comprising 57% of total exports. The second position in the ranking was held by Malaysia ($X), with a 21% share of total exports. It was followed by Indonesia, with a 10% share.

From 2012 to 2022, the average annual growth rate of value to China amounted to +111.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+17.3% per year) and Indonesia (-4.0% per year).

Export Prices by Country

The average table knife export price stood at $X per unit in 2022, rising by 42% against the previous year. In general, the export price, however, showed a mild downturn. Over the period under review, the average export prices reached the peak figure at $X per unit in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Thailand ($X per unit) and Japan ($X per unit), while the average price for exports to Vietnam ($X per unit) and the Philippines ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+9.8%), while the prices for the other major destinations experienced more modest paces of growth.

Table Knife Imports

Imports into Singapore

In 2022, overseas purchases of table knives were finally on the rise to reach X units after four years of decline. Overall, imports enjoyed a prominent expansion. The pace of growth appeared the most rapid in 2014 with an increase of 312%. As a result, imports reached the peak of X units. From 2015 to 2022, the growth of imports failed to regain momentum.

In value terms, table knife imports soared to $X in 2022. In general, imports continue to indicate a resilient expansion. The pace of growth appeared the most rapid in 2014 when imports increased by 335%. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of table knife to Singapore, with a 52% share of total imports. Moreover, table knife imports from China exceeded the figures recorded by the second-largest supplier, Japan (X units), threefold. Germany (X units) 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 stood at +9.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+5.9% per year) and Germany (+2.7% per year).

In value terms, China ($X) constituted the largest supplier of table knives to Singapore, comprising 51% of total imports. The second position in the ranking was held by Japan ($X), with a 21% share of total imports. It was followed by Germany, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +8.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+5.1% per year) and Germany (+1.3% per year).

Import Prices by Country

The average table knife import price stood at $X per unit in 2022, falling by -8.7% against the previous year. Overall, the import price saw a mild decline. The pace of growth was the most pronounced in 2020 an increase of 14% against the previous year. Over the period under review, average import prices attained the peak figure at $X per unit in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from France ($X per unit) and Japan ($X per unit), while the price for China ($X per unit) and Vietnam ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (-0.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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