The import of prepared or preserved lobster to Singapore experienced notable fluctuations over the past decade. The value stood at $4.11 million in 2023. The early years saw a significant increase, peaking in 2015, followed by a decline until 2018. The years 2019 and 2020 showed stabilization with minor variations, and from 2021 onwards, steady growth resumed.

Noteworthy year-on-year variations include a sharp rise of 75.96% in 2014, a notable decline of 27.21% in 2016, and a slight increase of 1.74% in 2023. The 5-year CAGR from 2023 to 2028 is forecasted at 1.35%, suggesting a moderate growth trend.

Future Trends to Watch:

Increasing demand for premium seafood products in Singapore.
Potential impacts of global seafood supply chain fluctuations.
Emerging market segments and consumer preference shifts towards ready-to-eat seafood options.