The duck meat slaughtering market in Singapore has displayed a fluctuating trend from 2013 to 2023, with slight growth observed in the early years followed by a gradual decline. The actual data until 2023 shows a general downward trajectory, particularly from 2015 onwards. In 2023, the market stood at 5.16 million units, representing a slight YoY decline of 0.69%. Over the past five years (from 2018 to 2023), the Compound Annual Growth Rate (CAGR) averages to a minor depreciation rate of approximately 0.59%. Forecasting data from 2024 to 2028 projects a continued decrease in duck meat slaughtering, with a decline of 2.93% anticipated by 2028.
Future trends to watch for include the impact of consumer preferences shifting towards alternative proteins, environmental and health-conscious dietary choices, and regulatory changes affecting poultry farming. Monitoring advancements in agricultural technology, sustainable farming practices, and potential market diversification can provide further insights into the evolving dynamics of this sector.
