Singapore - Milk - Market Analysis, Forecast, Size, Trends and Insights
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View PricingMilk Price in Singapore - 2022
Contents:
- Milk Price in Singapore (CIF) - 2022
- Milk Price in Singapore (FOB) - 2022
- Milk Imports in Singapore
- Milk Exports in Singapore
Milk Price in Singapore (CIF) - 2022
The average milk import price stood at $1,146 per ton in 2022, with a decrease of -3.1% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when the average import price increased by 11%. As a result, import price attained the peak level of $1,206 per ton. From 2014 to 2022, the average import prices failed to regain momentum.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was New Zealand ($2,338 per ton), while the price for Poland ($731 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by New Zealand (+8.4%), while the prices for the other major suppliers experienced more modest paces of growth.
Milk Price in Singapore (FOB) - 2022
The average milk export price stood at $2,621 per ton in 2022, increasing by 27% against the previous year. Overall, export price indicated a slight increase from 2012 to 2022: its price increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, milk export price decreased by -30.3% against 2020 indices. The most prominent rate of growth was recorded in 2020 when the average export price increased by 45%. As a result, the export price attained the peak level of $3,759 per ton. From 2021 to 2022, the average export prices remained at a somewhat lower figure.
There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Vietnam ($17,234 per ton), while the average price for exports to Japan ($722 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 Myanmar (+26.0%), while the prices for the other major destinations experienced more modest paces of growth.
Milk Imports in Singapore
After three years of growth, supplies from abroad of milk decreased by -6.7% to 97K tons in 2022. The total import volume increased at an average annual rate of +1.5% from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The growth pace was the most rapid in 2020 with an increase of 6.8%.
In value terms, milk imports dropped to $111M in 2022. The total import value increased at an average annual rate of +2.6% from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The pace of growth was the most pronounced in 2021 when imports increased by 10% against the previous year. As a result, imports attained the peak of $123M, and then dropped in the following year.
Import of Milk in Singapore (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Thailand | 48.7 | 57.2 | 57.9 | 53.2 | 3.0% |
Australia | 30.2 | 31.2 | 36.6 | 30.1 | -0.1% |
Malaysia | 0.7 | 1.5 | 2.6 | 4.1 | 80.3% |
Indonesia | 3.9 | 3.7 | 3.9 | 3.6 | -2.6% |
New Zealand | 3.5 | 3.8 | 4.4 | 3.6 | 0.9% |
France | 3.4 | 2.5 | 2.7 | 3.1 | -3.0% |
Germany | 3.7 | 2.9 | 3.9 | 2.6 | -11.1% |
Poland | 1.3 | 1.4 | 1.8 | 2.0 | 15.4% |
India | 1.2 | 1.4 | 1.7 | 1.6 | 10.1% |
Others | 6.3 | 6.2 | 7.5 | 7.2 | 4.6% |
Total | 103 | 112 | 123 | 111 | 2.5% |
Top Suppliers of Milk to Singapore in 2022:
- Thailand (42.2K tons)
- Australia (33.1K tons)
- Indonesia (4.0K tons)
- Malaysia (3.4K tons)
- Poland (2.8K tons)
- Germany (2.3K tons)
- India (2.0K tons)
- New Zealand (1.5K tons)
- France (1.4K tons)
Milk Exports in Singapore
After three years of growth, shipments abroad of milk decreased by -56.7% to 603 tons in 2022. Over the period under review, exports showed a slight downturn. The most prominent rate of growth was recorded in 2020 when exports increased by 60% against the previous year.
In value terms, milk exports contracted sharply to $1.6M in 2022. Overall, exports continue to indicate a slight decrease. The most prominent rate of growth was recorded in 2020 when exports increased by 132% against the previous year. As a result, the exports reached the peak of $3.8M. From 2021 to 2022, the growth of the exports remained at a lower figure.
Export of Milk in Singapore (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Vietnam | 634 | 1,589 | 141 | 700 | 3.4% |
Brunei Darussalam | 307 | 492 | 421 | 218 | -10.8% |
Bangladesh | 152 | 278 | 215 | 202 | 9.9% |
Cambodia | 170 | 157 | 202 | 183 | 2.5% |
Indonesia | 91.4 | 294 | 1,262 | 111 | 6.7% |
Hong Kong SAR | 5.6 | 20.7 | 3.2 | 45.4 | 100.9% |
Taiwan (Chinese) | 26.1 | 21.6 | 14.9 | 25.0 | -1.4% |
Malaysia | 123 | 60.3 | 335 | 18.6 | -46.7% |
China | N/A | 649 | N/A | N/A | 0% |
United Arab Emirates | 93.5 | N/A | 9.9 | N/A | -67.5% |
Others | 45.6 | 266 | 274 | 77.2 | 19.2% |
Total | 1,649 | 3,827 | 2,878 | 1,580 | -1.4% |
Top Export Markets for Milk from Singapore in 2022:
- Bangladesh (177.8 tons)
- Cambodia (135.6 tons)
- Brunei Darussalam (96.2 tons)
- Indonesia (55.1 tons)
- Hong Kong SAR (47.7 tons)
- Vietnam (40.6 tons)
- Taiwan (Chinese) (13.4 tons)
- Malaysia (11.1 tons)
This report provides an in-depth analysis of the milk 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 1130 - Camel milk
- FCL 882 - Cow milk, whole (fresh)
- FCL 1020 - Goat milk
- FCL 982 - Sheep milk
- FCL 951 - Buffalo milk
- FCL 888 - Skim Milk of Cows
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:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- 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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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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- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- COUNTRIES WITH TOP YIELDS
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION, PRODUCING ANIMALS AND YIELD
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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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
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Yield And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Producing Animals Slaughtered, 2012–2023
- Yield, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
This report provides an in-depth analysis of the milk market in Singapore.
This report provides an in-depth analysis of the skim milk market in Singapore.
This report provides an in-depth analysis of the cream fresh market in Singapore.
This report provides an in-depth analysis of the whole fresh milk market in Singapore.
This report provides an in-depth analysis of the global milk market.
This report provides an in-depth analysis of the global skim milk market.
This report provides an in-depth analysis of the global cream fresh market.
This report provides an in-depth analysis of the global whole fresh milk market.
This report provides an in-depth analysis of the cream market in Singapore.
This report provides an in-depth analysis of the milk market in Singapore.
Explore the top import markets for milk based on the data provided by the IndexBox platform. Discover the countries with the highest import values for milk in 2022.
From the shift towards plant-based alternatives to the growing demand for organic and sustainable milk products, the milk market is undergoing significant changes.
The global milk market reduced to $778.1B in 2021, remaining constant against the previous year.
Driven by increasing demand worldwide, the milk market is forecast to expand with an anticipated CAGR of +1.7% for the period from 2020 to 2030, which is projected to bring the market volume to 1.2B tons by the end of 2030.
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The global whole fresh milk market is estimated at $798.4B in 2018, an increase of 1.7% from 2017.
Global cream fresh consumption amounted to X thousand tons in 2015, going up by +X% against the previous year level.
Global cream fresh imports amounted to X thousand tons in 2015, standing approx. at the previous year level.