Over the past decade, the production of short margarine in Singapore has experienced significant fluctuations. From 2013 to 2023, actual production saw marked year-on-year variations, with notable peaks in 2014 and 2018, and steep declines from 2019 onwards. By 2023, short margarine production stood at 3.53 thousand metric tons.
Looking at recent trends, there was a -15.4% year-on-year decline in 2023, following a -13.58% decrease in 2022. The most recent five-year CAGR shows an average annual decrease of -15.11%. Production forecasts for the next five years indicate a continuous downward trend, with an anticipated forecast 5-year CAGR of -42.61% and a reduction to just 0.1758 thousand metric tons by 2028.
Future trends to watch for include potential shifts in consumer preferences towards healthier alternatives, changes in local and international market demand, regulatory impacts on production practices, and advancements in food technology that may influence production capacities and efficiencies. Monitoring these factors will be crucial in anticipating the trajectory of short margarine production in Singapore.
