Forecast: Chicken Meat Slaughtering in Singapore

The chicken meat slaughtering industry in Singapore has demonstrated variable growth over the years. Between 2013 and 2023, the industry witnessed considerable fluctuations, with notable increases such as in 2018 (6.37%) and 2021 (6.31%), contrasted by declines like in 2019 (-1.82%) and 2020 (-3.57%). The value in 2023 stood at 52.72 million units, marking a year-on-year growth of 0.94%. The compound annual growth rate (CAGR) over the last five years was 0.51%, indicating modest but steady long-term growth.

From 2024 onwards, a continuing upward trend is forecasted, with the industry expected to reach 55.28 million units by 2028. The forecasted five-year CAGR is 0.75%, translating to a total growth rate of 3.79% over this period.

Future trends to watch for include advancements in sustainable farming practices, increased focus on animal welfare, and potential disruptions from alternative meat products. Monitoring regulatory changes and consumer preferences in dietary habits will be crucial for market positioning and strategy.