Singapore: Albumins And Albuminates Market 2022

Albumins And Albuminates Market Size in Singapore

For the third consecutive year, the Singaporean albumins and albuminates market recorded growth in sales value, which increased by 137% to $X in 2021. Overall, consumption showed significant growth. Over the period under review, the market reached the maximum level in 2021 and is likely to see gradual growth in years to come.

Albumins And Albuminates Exports

Exports from Singapore

In 2021, overseas shipments of albumins, albuminates and other derivatives (excluding egg albumin) increased by 3.4% to X tons, rising for the fourth consecutive year after three years of decline. In general, exports posted buoyant growth. The most prominent rate of growth was recorded in 2013 with an increase of 106%. The exports peaked in 2021 and are likely to see gradual growth in years to come.

In value terms, albumins and albuminates exports surged to $X in 2021. Over the period under review, exports showed a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Japan (X tons), India (X tons) and Malaysia (X tons) were the main destinations of albumins and albuminates exports from Singapore, with a combined 98% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Japan (with a CAGR of +372.9%), while the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) emerged as the key foreign market for albumins and albuminates exports from Singapore, comprising 64% of total exports. The second position in the ranking was held by Malaysia ($X), with a 17% share of total exports. It was followed by India, with a 13% share.

From 2012 to 2021, the average annual growth rate of value to Japan amounted to +195.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+164.5% per year) and India (+63.0% per year).

Export Prices by Country

The average albumins and albuminates export price stood at $X per ton in 2021, picking up by 197% against the previous year. Overall, the export price enjoyed strong growth. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to India ($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 Hong Kong SAR (+25.6%), while the prices for the other major destinations experienced more modest paces of growth.

Albumins And Albuminates Imports

Imports into Singapore

For the third year in a row, Singapore recorded growth in purchases abroad of albumins, albuminates and other derivatives (excluding egg albumin), which increased by 65% to X tons in 2021. In general, imports continue to indicate a significant expansion. The pace of growth appeared the most rapid in 2013 with an increase of 716%. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in years to come.

In value terms, albumins and albuminates imports surged to $X in 2021. Over the period under review, imports posted significant growth. The growth pace was the most rapid in 2013 with an increase of 748% against the previous year. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in the near future.

Imports by Country

The United States (X tons), Poland (X tons) and the UK (X tons) were the main suppliers of albumins and albuminates imports to Singapore, together accounting for 88% of total imports.

From 2012 to 2021, the biggest increases were in Poland (with a CAGR of +1,894.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), the UK ($X) and Poland ($X) were the largest albumins and albuminates suppliers to Singapore, with a combined 90% share of total imports.

In terms of the main suppliers, Poland, with a CAGR of +1,961.2%, saw 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 albumins and albuminates import price amounted to $X per ton, increasing by 69% against the previous year. Over the period under review, the import price showed a mild increase. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Poland (+3.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Market Intelligence Platform

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