Forecast: Poultry Meat Slaughtering in Singapore

The poultry meat slaughtering industry in Singapore experienced varied growth from 2013 to 2023. In 2023, the volume stood at 57.88 million heads. Year-on-year variation witnessed several fluctuations. For instance, notable increases include 6.22% in 2018 and 6.14% in 2021, while some declines were 3.76% in 2020 and 1.87% in 2019. The Compound Annual Growth Rate (CAGR) from 2013 to 2023 overall indicated modest growth, with a peak of 2.14% in 2013 and periods of negligible growth such as 0.023% in 2020 and 0.37% in 2023.

Looking ahead, the forecasted data from 2024 to 2028 suggests a stable rise, with the volume projected to reach 60.25 million heads by 2028. The forecasted 5-year CAGR is expected to be 0.63%, indicating that the industry is anticipated to grow steadily. Key future trends to monitor include advancements in poultry farming technologies, evolving animal health regulations, and shifts in consumer dietary preferences impacting demand.