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Singapore - Tea - Market Analysis, Forecast, Size, Trends and Insights
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Singapore: Tea Market Overview 2021

Tea Market Size in Singapore

The Singaporean tea market amounted to $X in 2020, remaining stable 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). Overall, the total consumption indicated a prominent increase from 2007 to 2020: its value increased at an average annual rate of +X% over the last thirteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, consumption increased by +X% against 2016 indices. The most prominent rate of growth was recorded in 2008 with an increase of X% year-to-year. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2020, consumption stood at a somewhat lower figure.

Tea Exports

Exports from Singapore

Tea exports from Singapore soared to X tonnes in 2020, picking up by X% against the year before. Overall, exports saw prominent growth. As a result, exports reached the peak and are likely to continue growth in the immediate term.

In value terms, tea exports skyrocketed to $X in 2020. Over the period under review, exports continue to indicate a prominent increase. The most prominent rate of growth was recorded in 2009 when exports increased by X% year-to-year. Exports peaked in 2020 and are expected to retain growth in the immediate term.

Exports by Country

Viet Nam (X tonnes) was the main destination for tea exports from Singapore, accounting for a X% share of total exports. Moreover, tea exports to Viet Nam exceeded the volume sent to the second major destination, Indonesia (X tonnes), fivefold. The third position in this ranking was occupied by Malaysia (X tonnes), with a X% share.

From 2007 to 2020, the average annual growth rate of volume to Viet Nam amounted to +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+X% per year) and Malaysia (-X% per year).

In value terms, Viet Nam ($X) emerged as the key foreign market for tea exports from Singapore, comprising X% of total exports. The second position in the ranking was occupied by Malaysia ($X), with a X% share of total exports. It was followed by South Korea, with a X% share.

From 2007 to 2020, the average annual growth rate of value to Viet Nam stood at +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+X% per year) and South Korea (+X% per year).

Export Prices by Country

The average tea export price stood at $X per tonne in 2020, which is down by -X% against the previous year. In general, the export price, however, continues to indicate notable growth. The pace of growth was the most pronounced in 2009 an increase of X% year-to-year. The export price peaked at $X per tonne in 2019, and then reduced remarkably in the following year.

There were significant differences in the average prices for the major foreign markets. In 2020, the country with the highest price was Japan ($X per tonne), while the average price for exports to Viet Nam ($X per tonne) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia, while the prices for the other major destinations experienced more modest paces of growth.

Tea Imports

Imports into Singapore

In 2020, supplies from abroad of tea increased by X% to X tonnes, rising for the fifth year in a row after two years of decline. In general, total imports indicated moderate growth from 2007 to 2020: its volume increased at an average annual rate of +X% over the last thirteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, imports increased by +X% against 2015 indices. The growth pace was the most rapid in 2013 when imports increased by X% y-o-y. Imports peaked in 2020 and are expected to retain growth in years to come.

In value terms, tea imports shrank to $X in 2020. Over the period under review, imports enjoyed buoyant growth. The most prominent rate of growth was recorded in 2017 when imports increased by X% against the previous year. Imports peaked at $X in 2019, and then fell in the following year.

Imports by Country

In 2020, China (X tonnes) constituted the largest tea supplier to Singapore, accounting for a X% share of total imports. Moreover, tea imports from China exceeded the figures recorded by the second-largest supplier, Indonesia (X tonnes), fourfold. Viet Nam (X tonnes) ranked third in terms of total imports with a X% share.

From 2007 to 2020, the average annual rate of growth in terms of volume from China amounted to +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (-X% per year) and Viet Nam (+X% per year).

In value terms, the largest tea suppliers to Singapore were China ($X), Japan ($X) and Indonesia ($X), with a combined X% share of total imports.

Japan recorded the highest growth rate of 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

In 2020, the average tea import price amounted to $X per tonne, dropping by -X% against the previous year. Over the period under review, the import price, however, recorded a measured increase. The most prominent rate of growth was recorded in 2012 an increase of X% year-to-year. Over the period under review, average import prices hit record highs at $X per tonne in 2017; however, from 2018 to 2020, import prices remained at a lower figure.

Prices varied noticeably by the country of origin; the country with the highest price was Japan ($X per tonne), while the price for Viet Nam ($X per tonne) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Indonesia, 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 tea in the world?
+
China (2.7M tonnes) constituted the country with the largest volume of tea consumption, comprising approx. 40% of total volume. Moreover, tea consumption in China exceeded the figures recorded by the second-largest consumer, India (1.3M tonnes), twofold. The third position in this ranking was occupied by Turkey (301K tonnes), with a 4.5% share.
What are the largest producers of tea in the world?
+
The country with the largest volume of tea production was China (3M tonnes), accounting for 43% of total volume. Moreover, tea production in China exceeded the figures recorded by the second-largest producer, India (1.4M tonnes), twofold. The third position in this ranking was occupied by Kenya (560K tonnes), with a 8.1% share.
What are the leading suppliers of tea to Singapore?
+
In value terms, China ($14M), Japan ($8M) and Indonesia ($4.5M) constituted the largest tea suppliers to Singapore, together comprising 57% of total imports.
What are the leading importers of tea from Singapore?
+
In value terms, Viet Nam ($10M) emerged as the key foreign market for tea exports from Singapore, comprising 33% of total exports. The second position in the ranking was occupied by Malaysia ($3.3M), with a 11% share of total exports. It was followed by South Korea, with a 9.1% share.
What is the average export price for tea in Singapore?
+
In 2020, the average tea export price amounted to $5,654 per tonne, with a decrease of -35.4% against the previous year.
What is the average import price for tea in Singapore?
+
In 2020, the average tea import price amounted to $5,733 per tonne, with a decrease of -23.7% against the previous year.

Product coverage:
• FCL 667 - Tea

This report provides an in-depth analysis of the tea 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 2025.


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
GLOSSARY AND SPECIFIC TERMS
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 PRODUCTS

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
COUNTRIES WITH TOP YIELDS
5.4
TOP EXPORTING COUNTRIES
5.5
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, HARVESTED AREA AND YIELD
8. IMPORTS

The Largest Import Supplying Countries

8.1
IMPORTS FROM 2007–2020
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. EXPORTS

The Largest Destinations for Exports

9.1
EXPORTS FROM 2007–2020
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 2020
Table 2:
Market Volume, In Physical Terms, 2007–2020
Table 3:
Market Value, 2007–2020
Table 4:
Per Capita Consumption In 2007–2020
Table 5:
Imports, In Physical Terms, By Country, 2007–2020
Table 6:
Imports, In Value Terms, By Country, 2007–2020
Table 7:
Import Prices, By Country Of Origin, 2007–2020
Table 8:
Exports, In Physical Terms, By Country, 2007–2020
Table 9:
Exports, In Value Terms, By Country, 2007–2020
Table 10:
Export Prices, By Country Of Destination, 2007–2020
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2007–2020
Figure 2:
Market Value, 2007–2020
Figure 3:
Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2007–2020
Figure 4:
Market Structure – Domestic Supply vs. Imports, In Value Terms, 2007–2020
Figure 5:
Trade Balance, In Physical Terms, 2007–2020
Figure 6:
Trade Balance, In Value Terms, 2007–2020
Figure 7:
Per Capita Consumption, 2007–2020
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:
Yield And Growth
Figure 15:
Exports And Growth
Figure 16:
Export Prices And Growth
Figure 17:
Market Size And Growth
Figure 18:
Per Capita Consumption
Figure 19:
Imports And Growth
Figure 20:
Import Prices
Figure 21:
Production, In Physical Terms, 2007–2020
Figure 22:
Production, In Value Terms, 2007–2020
Figure 23:
Area Harvested, 2007–2020
Figure 24:
Yield, 2007–2020
Figure 25:
Imports, In Physical Terms, 2007–2020
Figure 26:
Imports, In Value Terms, 2007–2020
Figure 27:
Imports, In Physical Terms, By Country, 2020
Figure 28:
Imports, In Physical Terms, By Country, 2007–2020
Figure 29:
Imports, In Value Terms, By Country, 2007–2020
Figure 30:
Import Prices, By Country Of Origin, 2007–2020
Figure 31:
Exports, In Physical Terms, 2007–2020
Figure 32:
Exports, In Value Terms, 2007–2020
Figure 33:
Exports, In Physical Terms, By Country, 2020
Figure 34:
Exports, In Physical Terms, By Country, 2007–2020
Figure 35:
Exports, In Value Terms, By Country, 2007–2020
Figure 36:
Export Prices, By Country Of Destination, 2007–2020
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