Singapore: Market for Fresh Or Chilled Salmonoids Fillets 2024

Market Size for Fresh Or Chilled Salmonoids Fillets in Singapore

The Singaporean market for fresh or chilled salmonoids fillets dropped to $X in 2022, waning by X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the peak level at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Production of Fresh Or Chilled Salmonoids Fillets in Singapore

In value terms, fresh or chilled salmonoids fillets production shrank to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 when the production volume increased by X% against the previous year. Over the period under review, production attained the maximum level at $X in 2016; however, from 2017 to 2022, production remained at a lower figure.

Exports of Fresh Or Chilled Salmonoids Fillets

Exports from Singapore

In 2022, after two years of growth, there was significant decline in shipments abroad of fresh or chilled salmonoids fillets, when their volume decreased by X% to X tons. Overall, exports recorded a noticeable reduction. The most prominent rate of growth was recorded in 2021 when exports increased by X%. As a result, the exports reached the peak of X tons, and then shrank sharply in the following year.

In value terms, fresh or chilled salmonoids fillets exports declined markedly to $X in 2022. In general, exports showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 when exports increased by X%. As a result, the exports attained the peak of $X, and then dropped markedly in the following year.

Exports by Country

Malaysia (X tons), Brunei Darussalam (X tons) and Indonesia (X tons) were the main destinations of fresh or chilled salmonoids fillets exports from Singapore, with a combined X% 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 Indonesia (with a CAGR of X%), while the other leaders experienced a decline.

In value terms, the largest markets for fresh or chilled salmonoids fillets exported from Singapore were Brunei Darussalam ($X), Malaysia ($X) and Indonesia ($X), together comprising X% of total exports.

Among the main countries of destination, Indonesia, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average export price for fresh or chilled salmonoids fillets stood at $X per ton in 2022, with an increase of X% against the previous year. Over the last decade, it increased at an average annual rate of X%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Brunei Darussalam ($X per ton), while the average price for exports to Malaysia ($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 Indonesia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Fresh Or Chilled Salmonoids Fillets

Imports into Singapore

In 2022, fresh or chilled salmonoids fillets imports into Singapore declined remarkably to X tons, shrinking by X% on the previous year. Over the period under review, imports recorded a slight curtailment. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, fresh or chilled salmonoids fillets imports dropped to $X in 2022. Overall, total imports indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2013 when imports increased by X% against the previous year. Imports peaked at $X in 2017; however, from 2018 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Norway (X tons) constituted the largest supplier of fresh or chilled salmonoids fillets to Singapore, accounting for a X% share of total imports. Moreover, fresh or chilled salmonoids fillets imports from Norway exceeded the figures recorded by the second-largest supplier, Australia (X tons), ninefold.

From 2012 to 2022, the average annual growth rate of volume from Norway stood at X%.

In value terms, Norway ($X) constituted the largest supplier of fresh or chilled salmonoids fillets to Singapore, comprising X% of total imports. The second position in the ranking was held by Australia ($X), with a X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Norway totaled X%.

Import Prices by Country

In 2022, the average import price for fresh or chilled salmonoids fillets amounted to $X per ton, rising by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2016 an increase of X%. Over the period under review, average import prices reached the peak figure in 2022 and is likely to continue growth in the near future.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Norway ($X per ton), while the price for Australia totaled $X per ton.

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

Source: IndexBox Platform

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