Singapore: Medicaments Containing Vitamins Market 2024

Medicaments Containing Vitamins Market Size in Singapore

The Singaporean medicaments containing vitamins market was finally on the rise to reach $X in 2022, after three years of decline. Over the period under review, the total consumption indicated perceptible growth 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, consumption decreased by X% against 2018 indices. Medicaments containing vitamins consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Medicaments Containing Vitamins Production in Singapore

In value terms, medicaments containing vitamins production rose slightly to $X in 2022 estimated in export price. Overall, the total production indicated a modest 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, production decreased by X% against 2018 indices. The most prominent rate of growth was recorded in 2018 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

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Medicaments Containing Vitamins Exports

Exports from Singapore

In 2022, after two years of growth, there was significant decline in shipments abroad of medicaments containing vitamins and provitamins, when their volume decreased by X% to X tons. Overall, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of X%. Over the period under review, the exports hit record highs at X tons in 2021, and then reduced markedly in the following year.

In value terms, medicaments containing vitamins exports shrank notably to $X in 2022. In general, exports recorded a mild decrease. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. The exports peaked at $X in 2021, and then contracted sharply in the following year.

Exports by Country

Myanmar (X tons) was the main destination for medicaments containing vitamins exports from Singapore, with a X% share of total exports. Moreover, medicaments containing vitamins exports to Myanmar exceeded the volume sent to the second major destination, Indonesia (X tons), twofold. Hong Kong SAR (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Myanmar totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (X% per year) and Hong Kong SAR (X% per year).

In value terms, the largest markets for medicaments containing vitamins exported from Singapore were Indonesia ($X), Hong Kong SAR ($X) and Brunei Darussalam ($X), with a combined X% share of total exports.

In terms of the main countries of destination, Brunei Darussalam, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average medicaments containing vitamins export price stood at $X per ton in 2022, waning by X% against the previous year. In general, the export price recorded a mild slump. The pace of growth appeared the most rapid in 2017 when the average export price increased by X%. As a result, the export price reached the peak level of $X per ton. From 2018 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 Indonesia ($X per ton), while the average price for exports to Belgium ($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.

Medicaments Containing Vitamins Imports

Imports into Singapore

In 2022, overseas purchases of medicaments containing vitamins and provitamins decreased by X% to X tons, falling for the third year in a row after four years of growth. Overall, imports, however, posted a mild expansion. The most prominent rate of growth was recorded in 2019 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, medicaments containing vitamins imports shrank to $X in 2022. Over the period under review, imports, however, saw a pronounced expansion. The most prominent rate of growth was recorded in 2019 when imports increased by X%. As a result, imports attained the peak of $X. From 2020 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Germany (X tons), Malaysia (X tons) and the United States (X tons) were the main suppliers of medicaments containing vitamins imports to Singapore, together accounting for X% of total imports. Australia, Indonesia, India, Vietnam, France, Austria, Taiwan (Chinese), China and Canada lagged somewhat behind, together comprising a further X%.

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

In value terms, Germany ($X), the United States ($X) and Australia ($X) constituted the largest medicaments containing vitamins suppliers to Singapore, with a combined X% share of total imports. Malaysia, India, Indonesia, Vietnam, France, Austria, Taiwan (Chinese), China and Canada lagged somewhat behind, together accounting for a further X%.

Among the main suppliers, Austria, with a CAGR of X%, 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

The average medicaments containing vitamins import price stood at $X per ton in 2022, growing 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 2014 when the average import price increased by X% against the previous year. Over the period under review, average import prices attained the maximum in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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