Singapore: Market for Smoked Fish Other than Salmon and Herring 2024

Market Size for Smoked Fish Other than Salmon and Herring in Singapore

The Singaporean market for smoked fish other than salmon and herring rose markedly to $X in 2022, surging by X% against the previous year. Over the period under review, the total consumption indicated a buoyant 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, consumption increased by X% against 2015 indices. Over the period under review, the market reached the peak level in 2022 and is likely to see steady growth in years to come.

Production of Smoked Fish Other than Salmon and Herring in Singapore

In value terms, production of smoked fish other than salmon and herring amounted to $X in 2022 estimated in export price. Over the period under review, the total production indicated a resilient increase 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 2020 indices. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. Production of peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

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Exports of Smoked Fish Other than Salmon and Herring

Exports from Singapore

In 2022, overseas shipments of smoked fish other than salmon and herring increased by X% to X tons, rising for the second consecutive year after three years of decline. Overall, exports, however, showed a deep contraction. The exports peaked at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, exports of smoked fish other than salmon and herring soared to $X in 2022. Over the period under review, exports, however, saw a abrupt downturn. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

The Philippines (X tons) was the main destination for exports of smoked fish other than salmon and herring from Singapore, accounting for a X% share of total exports. Moreover, exports of smoked fish other than salmon and herring to the Philippines exceeded the volume sent to the second major destination, Brunei Darussalam (X tons), twofold. Indonesia (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to the Philippines stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Brunei Darussalam (X% per year) and Indonesia (X% per year).

In value terms, the Philippines ($X) remains the key foreign market for smoked fish other than salmon and herring exports from Singapore, comprising X% of total exports. The second position in the ranking was taken by Brunei Darussalam ($X), with a X% share of total exports. It was followed by Indonesia, with a X% share.

From 2012 to 2022, the average annual growth rate of value to the Philippines stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Brunei Darussalam (X% per year) and Indonesia (X% per year).

Export Prices by Country

The average export price for smoked fish other than salmon and herring stood at $X per ton in 2022, increasing by X% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 an increase of X%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while the average price for exports to Malaysia ($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 Malaysia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Smoked Fish Other than Salmon and Herring

Imports into Singapore

In 2022, purchases abroad of smoked fish other than salmon and herring was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports posted pronounced growth. Imports peaked at X tons in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, imports of smoked fish other than salmon and herring surged to $X in 2022. Overall, imports continue to indicate a strong increase. Over the period under review, imports of reached the maximum at $X in 2015; however, from 2016 to 2022, imports failed to regain momentum.

Imports by Country

Vietnam (X tons), Norway (X tons) and China (X tons) were the main suppliers of imports of smoked fish other than salmon and herring to Singapore, with a combined X% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Norway ($X), Vietnam ($X) and China ($X) appeared to be the largest smoked fish other than salmon and herring suppliers to Singapore, together accounting for X% of total imports.

Vietnam, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for smoked fish other than salmon and herring stood at $X per ton in 2022, jumping by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2013 an increase of X% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2016; however, from 2017 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the UK ($X per ton), while the price for Vietnam ($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 UK (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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