In 2023, the import of frozen shrimps and prawns to Singapore stood at 10.3 million kilograms. The forecasted data indicates a steady increase in the import volumes from 2024 to 2028. Specifically, from 2024 to 2028, the import volumes are expected to grow from 10.5 million kilograms to 11.279 million kilograms. The year-on-year variations are as follows:
• 2024 to 2025: 1.9% increase
• 2025 to 2026: 1.83% increase
• 2026 to 2027: 1.77% increase
• 2027 to 2028: 1.71% increase
The average annual growth rate (CAGR) over the five-year period from 2024 to 2028 is approximately 1.83%.
Future trends to watch for include potential shifts in global supply chains, changes in trade policies, or seafood consumption patterns. Additionally, environmental regulations and sustainability trends could impact the sourcing and import volumes. Monitoring these factors will be essential to accurately forecast and plan for future import demands.
