Singapore: Market for Prepared Or Preserved Crab Meat 2024

Market Size for Prepared Or Preserved Crab Meat in Singapore

After two years of growth, the Singaporean market for prepared or preserved crab meat decreased by X% to $X in 2023. Overall, consumption recorded a abrupt curtailment. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2023, consumption remained at a lower figure.

Exports of Prepared Or Preserved Crab Meat

Exports from Singapore

In 2023, overseas shipments of prepared or preserved crab meat increased by X% to X tons, rising for the second year in a row after five years of decline. Overall, exports, however, recorded a abrupt descent. The most prominent rate of growth was recorded in 2022 when exports increased by X%. The exports peaked at X tons in 2016; however, from 2017 to 2023, the exports failed to regain momentum.

In value terms, prepared or preserved crab meat exports declined dramatically to $X in 2023. Over the period under review, exports, however, faced a deep reduction. The most prominent rate of growth was recorded in 2022 with an increase of X%. The exports peaked at $X in 2016; however, from 2017 to 2023, the exports failed to regain momentum.

Exports by Country

The Philippines (X tons), Malaysia (X tons) and Brunei Darussalam (X tons) were the main destinations of prepared or preserved crab meat exports from Singapore, together accounting for X% of total exports. Australia, Myanmar, Canada, Hong Kong SAR, Indonesia and Mauritius lagged somewhat behind, together accounting for a further X%.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Myanmar (with a CAGR of X%), while the other leaders experienced a decline.

In value terms, Malaysia ($X) remains the key foreign market for prepared or preserved crab meat exports from Singapore, comprising X% of total exports. The second position in the ranking was held by the Philippines ($X), with a X% share of total exports. It was followed by Brunei Darussalam, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value to Malaysia was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (X% per year) and Brunei Darussalam (X% per year).

Export Prices by Country

In 2023, the average export price for prepared or preserved crab meat amounted to $X per ton, falling by X% against the previous year. Overall, the export price, however, showed a strong increase. The most prominent rate of growth was recorded in 2014 an increase of X% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2022, and then contracted notably in the following year.

There were significant differences in the average prices for the major foreign markets. In 2023, amid the top suppliers, the country with the highest price was Indonesia ($X per ton), while the average price for exports to Canada ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Mauritius (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Prepared Or Preserved Crab Meat

Imports into Singapore

In 2023, supplies from abroad of prepared or preserved crab meat decreased by X% to X tons for the first time since 2020, thus ending a two-year rising trend. Overall, imports saw a abrupt setback. The growth pace was the most rapid in 2022 with an increase of X%. Over the period under review, imports attained the peak figure at X tons in 2014; however, from 2015 to 2023, imports failed to regain momentum.

In value terms, prepared or preserved crab meat imports shrank markedly to $X in 2023. In general, imports recorded a deep contraction. The pace of growth appeared the most rapid in 2014 with an increase of X%. Over the period under review, imports hit record highs at $X in 2016; however, from 2017 to 2023, imports remained at a lower figure.

Imports by Country

In 2023, China (X tons) constituted the largest prepared or preserved crab meat supplier to Singapore, accounting for a X% share of total imports. Moreover, prepared or preserved crab meat imports from China exceeded the figures recorded by the second-largest supplier, Indonesia (X tons), threefold. The third position in this ranking was taken by Malaysia (X tons), with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (X% per year) and Malaysia (X% per year).

In value terms, China ($X), Indonesia ($X) and Japan ($X) appeared to be the largest prepared or preserved crab meat suppliers to Singapore, with a combined X% share of total imports.

In terms of the main suppliers, China, 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 a decline.

Import Prices by Country

In 2023, the average import price for prepared or preserved crab meat amounted to $X per ton, waning by X% against the previous year. Over the period under review, the import price, however, recorded a measured increase. The growth pace was the most rapid in 2014 when the average import price increased by X%. The import price peaked at $X per ton in 2022, and then contracted remarkably in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Indonesia ($X per ton), while the price for Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by China (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform