The import of frozen fish meat and mince to Singapore has shown significant fluctuations from 2013 to 2023. There was a substantial increase from 2013 to 2015, followed by a sharp decline in 2016 and 2017. The year 2018 saw an extraordinary surge, while the subsequent years up to 2023 exhibited more tempered growth. In 2023, the volume stood at 1825.7 Thousand Kilograms, reflecting a 4.66% year-on-year increase.
Year-on-year changes in the last two years were moderate, with a 4.99% increase in 2022 and a 4.66% increase in 2023. The 5-year CAGR up to 2023 was reasonably stable at 3.02%, projecting a consistent but slowing growth trend.
Future trends to watch for include:
- Technological advancements in preservation and logistics that could boost imports.
- Shifting consumer preferences towards frozen seafood driven by convenience and sustainability concerns.
- Potential regulatory changes impacting import tariffs or quality standards.
