Report Update Apr 1, 2024

Singapore - Frozen Cuts of Turkey - Market Analysis, Forecast, Size, Trends and Insights

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Singapore: Frozen Turkey Cut Market 2024

Frozen Turkey Cut Market Size in Singapore

The Singaporean frozen turkey cut market dropped to $X in 2022, waning by -10.4% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, saw a buoyant expansion. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market remained at a somewhat lower figure.

Frozen Turkey Cut Exports

Exports by Country

Maldives (X tons) was the main destination for frozen turkey cut exports from Singapore, accounting for a 82% share of total exports. Moreover, frozen turkey cut exports to Maldives exceeded the volume sent to the second major destination, Cambodia (X kg), ninefold. Indonesia (X kg) ranked third in terms of total exports with a 7.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Maldives amounted to +7.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cambodia (-13.8% per year) and Indonesia (-14.8% per year).

In value terms, Maldives ($X) emerged as the key foreign market for frozen cuts of turkey exports from Singapore, comprising 86% of total exports. The second position in the ranking was held by Cambodia ($X), with a 7.8% share of total exports. It was followed by Indonesia, with a 4.6% share.

From 2012 to 2022, the average annual growth rate of value to Maldives totaled +7.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cambodia (-14.1% per year) and Indonesia (-18.7% per year).

Export Prices by Country

The average frozen turkey cut export price stood at $X per ton in 2022, rising by 58% against the previous year. In general, export price indicated moderate growth from 2012 to 2022: its price increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Maldives ($X per ton), while the average price for exports to Indonesia ($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 India (+24.5%), while the prices for the other major destinations experienced more modest paces of growth.

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Frozen Turkey Cut Imports

Imports into Singapore

In 2022, frozen turkey cut imports into Singapore dropped sharply to X tons, shrinking by -32.5% against the previous year. Over the period under review, imports, however, posted a moderate increase. The most prominent rate of growth was recorded in 2019 when imports increased by 132% against the previous year. As a result, imports reached the peak of X tons. From 2020 to 2022, the growth of imports remained at a lower figure.

In value terms, frozen turkey cut imports fell slightly to $X in 2022. In general, imports, however, showed a resilient expansion. The most prominent rate of growth was recorded in 2019 when imports increased by 180%. As a result, imports attained the peak of $X. From 2020 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Brazil (X tons) constituted the largest frozen turkey cut supplier to Singapore, with a 66% share of total imports. Moreover, frozen turkey cut imports from Brazil exceeded the figures recorded by the second-largest supplier, Hungary (X tons), threefold.

From 2012 to 2022, the average annual growth rate of volume from Brazil totaled +134.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Hungary (+19.9% per year) and the United States (-21.3% per year).

In value terms, Brazil ($X) constituted the largest supplier of frozen cuts of turkey to Singapore, comprising 66% of total imports. The second position in the ranking was held by Hungary ($X), with a 22% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Brazil amounted to +148.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Hungary (+28.3% per year) and the United States (-15.9% per year).

Import Prices by Country

The average frozen turkey cut import price stood at $X per ton in 2022, surging by 43% against the previous year. Overall, import price indicated a notable increase from 2012 to 2022: its price increased at an average annual rate of +3.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, frozen turkey cut import price increased by +88.0% against 2018 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hungary (+7.0%), 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 frozen cuts of turkey in the world?

The country with the largest volume of frozen turkey cut consumption was China, accounting for 29% of total volume. Moreover, frozen turkey cut consumption in China exceeded the figures recorded by the second-largest consumer, India, threefold. The United States ranked third in terms of total consumption with a 9.8% share.

What are the largest producers of frozen cuts of turkey in the world?

China remains the largest frozen turkey cut producing country worldwide, comprising approx. 28% of total volume. Moreover, frozen turkey cut production in China exceeded the figures recorded by the second-largest producer, the United States, twofold. The third position in this ranking was taken by India, with an 11% share.

What are the leading suppliers of frozen cuts of turkey to Singapore?

In value terms, Brazil constituted the largest supplier of frozen cuts of turkey to Singapore, comprising 66% of total imports. The second position in the ranking was held by Hungary, with a 22% share of total imports.

What are the leading importers of frozen cuts of turkey from Singapore?

In value terms, Maldives emerged as the key foreign market for frozen cuts of turkey exports from Singapore, comprising 86% of total exports. The second position in the ranking was taken by Cambodia, with a 7.8% share of total exports. It was followed by Indonesia, with a 4.6% share.

What is the average export price for frozen cuts of turkey in Singapore?

In 2022, the average frozen turkey cut export price amounted to $9,350 per ton, rising by 58% against the previous year.

What is the average import price for frozen cuts of turkey in Singapore?

The average frozen turkey cut import price stood at $7,661 per ton in 2022, increasing by 43% against the previous year.

This report provides an in-depth analysis of the frozen turkey cut 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:

Prodcom 10122055 - Frozen cuts of turkey

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:

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

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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. COUNTRIES WITH TOP YIELDS
4. TOP EXPORTING COUNTRIES
5. 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, PRODUCING ANIMALS AND YIELD
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. Yield And Growth
16. Exports And Growth
17. Export Prices And Growth
18. Market Size And Growth
19. Per Capita Consumption
20. Imports And Growth
21. Import Prices
22. Production, In Physical Terms, 2012–2023
23. Production, In Value Terms, 2012–2023
24. Producing Animals Slaughtered, 2012–2023
25. Yield, 2012–2023
26. Imports, In Physical Terms, 2012–2023
27. Imports, In Value Terms, 2012–2023
28. Imports, In Physical Terms, By Country, 2023
29. Imports, In Physical Terms, By Country, 2012–2023
30. Imports, In Value Terms, By Country, 2012–2023
31. Import Prices, By Country Of Origin, 2012–2023
32. Exports, In Physical Terms, 2012–2023
33. Exports, In Value Terms, 2012–2023
34. Exports, In Physical Terms, By Country, 2023
35. Exports, In Physical Terms, By Country, 2012–2023
36. Exports, In Value Terms, By Country, 2012–2023
37. Export Prices, By Country Of Destination, 2012–2023