Report Update: May 1, 2024

Singapore - Skim Powdered Milk - Market Analysis, Forecast, Size, Trends And Insights

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Skim Powdered Milk Price in Singapore - 2022

Skim Powdered Milk Price in Singapore (CIF) - 2022

The average skim powdered milk import price stood at $3,803 per ton in 2022, with an increase of 22% against the previous year. In general, the import price posted modest growth. The most prominent rate of growth was recorded in 2013 an increase of 26% against the previous year. Over the period under review, average import prices reached the peak figure at $4,199 per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Ireland ($4,071 per ton) and Germany ($4,042 per ton), while the price for Canada ($2,837 per ton) and Turkey ($3,507 per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belarus (+40.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Skim Powdered Milk Price in Singapore (FOB) - 2022

In 2022, the average skim powdered milk export price amounted to $2,707 per ton, surging by 5.2% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 an increase of 121%. As a result, the export price reached the peak level of $5,648 per ton. From 2018 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Saudi Arabia ($3,490 per ton), while the average price for exports to Brunei Darussalam ($1,452 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 Bangladesh (+5.7%), while the prices for the other major destinations experienced more modest paces of growth.

Skim Powdered Milk Imports in Singapore

In 2022, overseas purchases of skim powdered milk decreased by -2.9% to 58K tons, falling for the second year in a row after two years of growth. Overall, imports continue to indicate a slight shrinkage. The growth pace was the most rapid in 2020 when imports increased by 2.2%. As a result, imports reached the peak of 62K tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, skim powdered milk imports skyrocketed to $221M in 2022. Over the period under review, total imports indicated buoyant growth from 2019 to 2022: its value increased at an average annual rate of +15.1% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +52.5% against 2019 indices. The pace of growth appeared the most rapid in 2020 with an increase of 20% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

Import of Skim Powdered Milk in Singapore (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
New Zealand	46.0	52.6	65.3	62.1	10.5%
United States	5.1	18.8	26.2	28.0	76.4%
Ireland	22.0	24.4	15.8	26.6	6.5%
Australia	16.2	16.3	20.1	23.4	13.0%
Netherlands	4.6	6.5	10.0	12.8	40.7%
Japan	N/A	0.1	1.5	8.5	822.0%
France	17.5	15.4	10.6	8.0	-23.0%
Germany	8.4	12.7	9.3	7.9	-2.0%
Canada	0.5	8.2	9.0	6.0	128.9%
Belarus	N/A	0.1	N/A	4.8	592.8%
Turkey	N/A	N/A	N/A	4.4	0%
Uruguay	0.5	0.5	2.3	4.0	100.0%
Lithuania	N/A	N/A	N/A	3.5	0%
Others	24.3	18.5	16.2	21.1	-4.6%
Total	145	174	186	221	15.1%

Top Suppliers of Skim Powdered Milk to Singapore in 2022:

New Zealand (17.5K tons)
United States (7.3K tons)
Ireland (6.5K tons)
Australia (5.9K tons)
Netherlands (3.3K tons)
Japan (2.3K tons)
Canada (2.1K tons)
France (2.0K tons)
Germany (2.0K tons)
Turkey (1.3K tons)
Belarus (1.3K tons)
Uruguay (1.1K tons)
Lithuania (1.0K tons)

Skim Powdered Milk Exports in Singapore

After three years of growth, overseas shipments of skim powdered milk decreased by -17.7% to 5.4K tons in 2022. In general, total exports indicated a resilient increase from 2019 to 2022: its volume increased at an average annual rate of +14.9% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +51.9% against 2019 indices. The growth pace was the most rapid in 2021 with an increase of 37% against the previous year. As a result, the exports reached the peak of 6.5K tons, and then dropped sharply in the following year.

In value terms, skim powdered milk exports declined to $14M in 2022. Overall, exports, however, saw a significant increase. The most prominent rate of growth was recorded in 2021 with an increase of 49% against the previous year. As a result, the exports attained the peak of $17M, and then reduced in the following year.

Export of Skim Powdered Milk in Singapore (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Malaysia	1.6	4.4	4.6	7.1	64.3%
Bangladesh	0.1	0.1	0.3	3.3	220.8%
Japan	1.9	2.5	5.2	1.3	-11.9%
Saudi Arabia	0.6	0.6	0.4	1.1	22.4%
Philippines	0.4	0.3	0.6	0.4	0.0%
Brunei Darussalam	0.3	0.3	0.3	0.2	-12.6%
Vietnam	1.3	1.6	4.0	0.2	-46.4%
Others	1.2	1.5	1.4	0.9	-9.1%
Total	7.6	11.2	16.7	14.5	24.0%

Top Export Markets for Skim Powdered Milk from Singapore in 2022:

Malaysia (2069.2 tons)
Bangladesh (2009.3 tons)
Japan (406.6 tons)
Saudi Arabia (325.1 tons)
Philippines (160.4 tons)
Brunei Darussalam (107.6 tons)
Vietnam (37.7 tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the skim powdered milk 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 898 - Dry Skim Cow Milk

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