Report Singapore - Olive Oil (Virgin) - Market Analysis, Forecast, Size, Trends and Insights for 499$
Latest Report Update: Aug 31, 2022

Singapore - Olive Oil (Virgin) - Market Analysis, Forecast, Size, Trends and Insights
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Singapore: Virgin Olive Oil Market 2022

Virgin Olive Oil Market Size in Singapore

The Singaporean virgin olive oil market shrank significantly to $X in 2021, declining by -X% 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 showed a pronounced downturn. As a result, consumption attained the peak level of $X, and then dropped markedly in the following year.

Virgin Olive Oil Exports

Exports from Singapore

In 2021, exports of virgin olive oil from Singapore contracted rapidly to X tons, with a decrease of -X% against the year before. Over the period under review, exports saw a abrupt slump. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

In value terms, virgin olive oil exports shrank notably to $X in 2021. In general, exports continue to indicate a mild descent. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

Exports by Country

Hong Kong SAR (X tons), Bangladesh (X tons) and Timor-Leste (X tons) were the main destinations of virgin olive oil exports from Singapore, with a combined X% share of total exports. These countries were followed by Cambodia, Brunei Darussalam, Malaysia, Japan, Maldives, Fiji and India, which together accounted for a further X 2012 to 2021, the biggest increases were in Japan (with a CAGR of +X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Bangladesh ($X), Hong Kong SAR ($X) and Brunei Darussalam ($X) constituted the largest markets for virgin olive oil exported from Singapore worldwide, together comprising X% of total exports.

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

Export Prices by Country

In 2021, the average virgin olive oil export price amounted to $X per ton, surging by X% against the previous year. Overall, export price indicated noticeable growth from 2012 to 2021: its price increased at an average annual rate of +X% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 an increase of X% against the previous year. The export price peaked in 2021 and is likely to see gradual growth in years to come.

Prices varied noticeably by the country of destination: the country with the highest price was Malaysia ($X per ton), while the average price for exports to Hong Kong SAR ($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 Malaysia (+X%), while the prices for the other major destinations experienced more modest paces of growth.

Virgin Olive Oil Imports

Imports into Singapore

After three years of growth, overseas purchases of virgin olive oil decreased by -X% to X tons in 2021. In general, imports saw a pronounced slump. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. As a result, imports reached the peak of X tons, and then declined rapidly in the following year.

In value terms, virgin olive oil imports contracted notably to $X in 2021. Over the period under review, imports saw a noticeable decline. The most prominent rate of growth was recorded in 2020 when imports increased by X%. As a result, imports reached the peak of $X, and then dropped notably in the following year.

Imports by Country

Spain (X tons), Belgium (X tons) and Italy (X tons) were the main suppliers of virgin olive oil imports to Singapore, with a combined X% share of total imports.

From 2012 to 2021, the biggest increases were in Belgium (with a CAGR of +X%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the largest virgin olive oil suppliers to Singapore were Spain ($X), Italy ($X) and Greece ($X), together accounting for X% of total imports. Canada and Belgium lagged somewhat behind, together accounting for a further X the main suppliers, Belgium, 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 mixed trend patterns.

Import Prices by Country

The average virgin olive oil import price stood at $X per ton in 2021, with an increase of X% against the previous year. Over the last nine-year period, it increased at an average annual rate of +X%. The most prominent rate of growth was recorded in 2017 an increase of X%. Over the period under review, average import prices hit record highs at $X per ton in 2018; however, from 2019 to 2021, import prices remained at a lower figure.

Prices varied noticeably by the country of origin: the country with the highest price was Italy ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

Base Year Historical Period Forecast Period Units
2021 2007-2021 2022-2030 US$, Tons

Frequently Asked Questions (FAQ) :

What are the largest markets for virgin olive oil in the world?
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The countries with the highest volumes of in 2021 were Italy, Spain and the United States, together accounting for 41% of global consumption. Turkey, Morocco, Greece, France, Syrian Arab Republic, Algeria, Portugal, Brazil, Tunisia and Germany lagged somewhat behind, together accounting for a further 37%.
What are the largest producers of virgin olive oil in the world?
+
The country with the largest volume of virgin olive oil production was Spain, accounting for 36% of total volume. Moreover, virgin olive oil production in Spain exceeded the figures recorded by the second-largest producer, Italy, threefold. The third position in this ranking was taken by Greece, with a 9.2% share.
What are the leading suppliers of virgin olive oil to Singapore?
+
In value terms, the largest virgin olive oil suppliers to Singapore were Spain, Italy and Greece, with a combined 84% share of total imports. These countries were followed by Canada and Belgium, which together accounted for a further 7%.
What are the leading importers of virgin olive oil from Singapore?
+
In value terms, the largest markets for virgin olive oil exported from Singapore were Bangladesh, Hong Kong SAR and Brunei Darussalam, together comprising 35% of total exports.
What is the average export price for virgin olive oil in Singapore?
+
The average virgin olive oil export price stood at $5,960 per ton in 2021, surging by 31% against the previous year.
What is the average import price for virgin olive oil in Singapore?
+
The average virgin olive oil import price stood at $4,290 per ton in 2021, with an increase of 15% against the previous year.

This report provides an in-depth analysis of the virgin olive oil 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 261 - Oil of Olives, Virgin
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:
1. How to diversify your business and benefit from new market opportunities
2. How to load your idle production capacity
3. How to boost your sales on overseas markets
4. How to increase your profit margins
5. How to make your supply chain more sustainable
6. How to reduce your production and supply chain costs
7. How to outsource production to other countries
8. 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

1.1
REPORT DESCRIPTION
1.2
RESEARCH METHODOLOGY AND AI PLATFORM
1.3
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
1.4
REPORT DESCRIPTION
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance

3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects

3.1
MARKET SIZE
3.2
MARKET STRUCTURE
3.3
TRADE BALANCE
3.4
PER CAPITA CONSUMPTION
3.5
MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business

4.1
TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
4.2
BEST-SELLING PRODUCTS
4.3
MOST CONSUMED PRODUCT
4.4
MOST TRADED PRODUCT
4.5
MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain

5.1
TOP COUNTRIES TO SOURCE YOUR PRODUCT
5.2
TOP PRODUCING COUNTRIES
5.3
TOP EXPORTING COUNTRIES
5.4
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports

6.1
TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
6.2
TOP CONSUMING MARKETS
6.3
UNSATURATED MARKETS
6.4
TOP IMPORTING MARKETS
6.5
MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry

7.1
PRODUCTION VOLUME AND VALUE
8. IMPORTS

The Largest Import Supplying Countries

8.1
IMPORTS FROM 2012–2021
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. EXPORTS

The Largest Destinations for Exports

9.1
EXPORTS FROM 2012–2021
9.2
EXPORTS BY COUNTRY
9.3
EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles

LIST OF TABLES
Table 1:
Key Findings In 2021
Table 2:
Market Volume, In Physical Terms, 2012–2021
Table 3:
Market Value, 2012–2021
Table 4:
Per Capita Consumption In 2007-2021
Table 5:
Imports, In Physical Terms, By Country, 2012–2021
Table 6:
Imports, In Value Terms, By Country, 2012–2021
Table 7:
Import Prices, By Country Of Origin, 2012–2021
Table 8:
Exports, In Physical Terms, By Country, 2012–2021
Table 9:
Exports, In Value Terms, By Country, 2012–2021
Table 10:
Export Prices, By Country Of Destination, 2012–2021
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2012–2021
Figure 2:
Market Value, 2012–2021
Figure 3:
Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2007-2021
Figure 4:
Market Structure – Domestic Supply vs. Imports, In Value Terms, 2007-2021
Figure 5:
Trade Balance, In Physical Terms, 2007-2021
Figure 6:
Trade Balance, In Value Terms, 2007-2021
Figure 7:
Per Capita Consumption, 2007-2021
Figure 8:
Market Forecast To 2030
Figure 9:
Products: Market Size And Growth, By Type
Figure 10:
Products: Average Per Capita Consumption, By Type
Figure 11:
Products: Exports And Growth, By Type
Figure 12:
Products: Export Prices And Growth, By Type
Figure 13:
Production Volume And Growth
Figure 14:
Exports And Growth
Figure 15:
Export Prices And Growth
Figure 16:
Market Size And Growth
Figure 17:
Per Capita Consumption
Figure 18:
Imports And Growth
Figure 19:
Import Prices
Figure 20:
Production, In Physical Terms, 2012–2021
Figure 21:
Production, In Value Terms, 2012–2021
Figure 22:
Imports, In Physical Terms, 2012–2021
Figure 23:
Imports, In Value Terms, 2012–2021
Figure 24:
Imports, In Physical Terms, By Country, 2021
Figure 25:
Imports, In Physical Terms, By Country, 2012–2021
Figure 26:
Imports, In Value Terms, By Country, 2012–2021
Figure 27:
Import Prices, By Country Of Origin, 2012–2021
Figure 28:
Exports, In Physical Terms, 2012–2021
Figure 29:
Exports, In Value Terms, 2012–2021
Figure 30:
Exports, In Physical Terms, By Country, 2021
Figure 31:
Exports, In Physical Terms, By Country, 2012–2021
Figure 32:
Exports, In Value Terms, By Country, 2012–2021
Figure 33:
Export Prices, By Country Of Destination, 2012–2021
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