The import of live ornamental fish to Singapore is forecasted to decrease steadily from 2024 to 2028. In 2023, the import value stood at 9.476 million USD. For 2024, the forecast value is 8.7555 million USD, representing a decline of approximately 7.6% year-on-year. For 2025, the import value is anticipated to further drop to 8.0742 million USD, a 7.8% decline from 2024. This trend continues with values of 7.4066 million USD in 2026 (8.3% decline), 6.7523 million USD in 2027 (8.8% decline), and 6.111 million USD in 2028 (9.5% decline).
Over this five-year forecast period, the Compound Annual Growth Rate (CAGR) indicates an average annual decrease of approximately 9%. This consistent downward trend suggests a contracting market for live ornamental fish imports to Singapore.
Future trends to watch for include changes in trade regulations, shifts in consumer preferences towards sustainable or locally bred ornamental fish, and potential impacts of global economic conditions on trade and consumer spending. Monitoring these factors will be crucial for stakeholders in the ornamental fish market.
