The import of frozen prepared potatoes to Singapore has demonstrated a general upward trend from 2013 to 2023, with the value standing at $45.643 million in 2023. The year-on-year variation shows a positive growth rate with periodic fluctuations. Notably, the year-on-year fluctuations show values such as a decrease in 2014 by 2.97% and an increase in 2015 by 4.83%. The compound annual growth rate (CAGR) for the last five years leading up to 2023 averages around 3.1%.
Looking at the forecast data from 2024 to 2028, the import value is expected to continue rising, albeit at a slightly lower CAGR of 1.87%. By 2028, the value is forecasted to reach $51.372 million, indicating a continued demand for frozen prepared potatoes in Singapore. The overall growth forecast for the next five years is estimated at 9.68%.
Future trends to watch for:
- Potential impacts of global supply chain disruptions on import values.
- Shifts in consumer preferences and dietary trends towards or away from frozen prepared foods.
- Emerging new markets and competition from other nations exporting frozen prepared potatoes.
- Technological advancements in food preservation and storage which might affect import needs.
