Singapore's milled rice domestic consumption is forecasted to rise modestly from 392.0 thousand metric tons in 2024 to 398.0 thousand metric tons by 2028. Considering that the consumption in 2023 stood at 391.0 thousand metric tons, the year-on-year variations show an incremental growth which translates to a negligible percentage increase annually. Over the last two years, the consumption showed relatively stable growth, reflecting an approximate growth pattern with a CAGR close to 0.36%.
Future trends to watch for:
- Population growth: As population trends influence consumption, any notable changes in demographic patterns could impact rice demand.
- Dietary shifts: Increased health awareness could lead to diversified grain consumption, potentially affecting traditional rice demand.
- Economic factors: Economic stability and disposable income levels may play a crucial role in determining changes in consumption patterns.
