Report Update Nov 1, 2024

Singapore - Whey - Market Analysis, Forecast, Size, Trends and Insights

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Singapore: Whey Market 2024

Whey Market Size in Singapore

In 2022, after three years of decline, there was significant growth in the Singaporean whey market, when its value increased by 41% to $X. In general, consumption, however, continues to indicate a relatively flat trend pattern. Over the period under review, the market attained the peak level at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Whey Exports

Exports from Singapore

In 2022, exports of whey from Singapore surged to X tons, growing by 96% against the year before. Overall, exports recorded a prominent expansion. The pace of growth was the most pronounced in 2016 when exports increased by 366% against the previous year. As a result, the exports attained the peak of X tons. From 2017 to 2022, the growth of the exports failed to regain momentum.

In value terms, whey exports soared to $X in 2022. In general, exports continue to indicate significant growth. The most prominent rate of growth was recorded in 2019 with an increase of 640% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.

Exports by Country

China (X tons), Japan (X tons) and the Philippines (X tons) were the main destinations of whey exports from Singapore, with a combined 87% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by China (with a CAGR of +56.3%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X) remains the key foreign market for whey exports from Singapore, comprising 75% of total exports. The second position in the ranking was taken by Japan ($X), with a 16% share of total exports. It was followed by the Philippines, with a 4.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value to China amounted to +77.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+14.8% per year) and the Philippines (+4.1% per year).

Export Prices by Country

The average whey export price stood at $X per ton in 2022, dropping by -5.7% against the previous year. Overall, the export price, however, enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2019 when the average export price increased by 161% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2020 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to South Korea ($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 Vietnam (+20.0%), while the prices for the other major destinations experienced more modest paces of growth.

Whey Imports

Imports into Singapore

In 2022, overseas purchases of whey increased by 35% to X tons, rising for the second year in a row after two years of decline. The total import volume increased at an average annual rate of +2.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, imports hit record highs at X tons in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, whey imports surged to $X in 2022. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. Over the period under review, imports attained the maximum at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

Turkey (X tons), the United States (X tons) and Australia (X tons) were the main suppliers of whey imports to Singapore, together accounting for 45% of total imports. Germany, Canada, France, Chile, New Zealand, Poland and Argentina lagged somewhat behind, together comprising a further 42%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Chile (with a CAGR of +27.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Australia ($X) and New Zealand ($X) were the largest whey suppliers to Singapore, together accounting for 47% of total imports. Turkey, Germany, Chile, Canada, France, Poland and Argentina lagged somewhat behind, together accounting for a further 36%.

Chile, with a CAGR of +39.2%, recorded the highest growth rate of the value of imports, in terms of the main suppliers 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 whey import price amounted to $X per ton, with an increase of 21% against the previous year. Over the period under review, the import price, however, saw a pronounced contraction. The most prominent rate of growth was recorded in 2019 an increase of 21%. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Chile (+9.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for whey in the world?

The countries with the highest volumes of whey consumption in 2021 were China, the Netherlands and France, with a combined 39% share of global consumption. These countries were followed by Germany, Italy, Denmark, Indonesia, the Czech Republic, Malaysia, the UK, Australia, Poland and Thailand, which together accounted for a further 36%.

What are the largest producers of whey in the world?

The countries with the highest volumes of whey production in 2021 were France, the United States and Italy, with a combined 39% share of global production. Germany, the Netherlands, Poland, Belgium, Belarus, the Czech Republic, Ireland, Australia, the UK and Argentina lagged somewhat behind, together comprising a further 41%.

What are the leading suppliers of whey to Singapore?

In value terms, the largest whey suppliers to Singapore were the United States, New Zealand and Denmark, with a combined 55% share of total imports.

What are the leading importers of whey from Singapore?

In value terms, China remains the key foreign market for whey exports from Singapore, comprising 81% of total exports. The second position in the ranking was occupied by New Zealand, with a 3.7% share of total exports. It was followed by Myanmar, with a 3.6% share.

What is the average export price for whey in Singapore?

In 2021, the average whey export price amounted to $3,908 per ton, dropping by -19.7% against the previous year.

What is the average import price for whey in Singapore?

In 2021, the average whey import price amounted to $2,081 per ton, with an increase of 5.4% against the previous year.

This report provides an in-depth analysis of the whey market in Singapore. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

FCL 890 - Whey, Condensed
FCL 900 - Dry Whey

Country coverage:

Singapore

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Singapore
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023