From 2013 to 2023, the import volume of frozen vegetable mixtures to Singapore experienced fluctuations. Despite some notable peaks, the general trend has been relatively stable with minor year-on-year variations. In 2023, the import volume stood at approximately 2.0823 million kilograms. Between 2022 and 2023, the volume saw a minimal decrease of 0.03%, marking consistent figures. The Compound Annual Growth Rate (CAGR) over the past 5 years shows an average annual increase of 1.49%.
Future projections from 2024 onwards suggest a slight decline in imports, with a forecasted 5-year CAGR of -0.02%, indicating a marginal decrease in the import volume through 2028. This slow decline is projected to bring the import volume to around 2.079 million kilograms by 2028.
Future Trends to Watch for:
- Impact of economic policies on importation
- Consumer preferences transitioning towards fresh vegetables
- Effects of global supply chain dynamics and logistical challenges
- Technological advancements in preservation and freezing techniques
- Increasing focus on local production and self-sufficiency