Philippines - Fresh Or Chilled Fish Fillets - Market Analysis, Forecast, Size, Trends And Insights
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View PricingFresh Fish Fillet Price in the Philippines - 2023
Contents:
- Fresh Fish Fillet Price in the Philippines (FOB) - 2023
- Fresh Fish Fillet Price in the Philippines (CIF) - 2022
- Fresh Fish Fillet Exports in the Philippines
- Fresh Fish Fillet Imports in the Philippines
Fresh Fish Fillet Price in the Philippines (FOB) - 2023
In June 2023, the average fresh fish fillet export price amounted to $16,826 per ton, picking up by 27% against the previous month. Over the last twelve-month period, it increased at an average monthly rate of +2.6%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.
Average prices varied noticeably for the major foreign markets. In June 2023, the countries with the highest prices were the United States ($17,008 per ton) and Canada ($17,008 per ton), while the average price for exports to Thailand ($15,151 per ton) and Italy ($17,008 per ton) were amongst the lowest.
From June 2022 to June 2023, the most notable rate of growth in terms of prices was recorded for supplies to France (+2.9%), while the prices for the other major destinations experienced more modest paces of growth.
Fresh Fish Fillet Price in the Philippines (CIF) - 2022
The average fresh fish fillet import price stood at $3,999 per ton in 2022, dropping by -9.9% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2016 when the average import price increased by 243% against the previous year. As a result, import price attained the peak level of $18,073 per ton. From 2017 to 2022, the average import prices remained at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was New Zealand ($8,190 per ton), while the price for Sweden ($652 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+39.3%), while the prices for the other major suppliers experienced more modest paces of growth.
Fresh Fish Fillet Exports in the Philippines
In 2022, shipments abroad of fresh or chilled fish fillets increased by 690% to 3K tons for the first time since 2019, thus ending a two-year declining trend. In general, exports continue to indicate a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
In value terms, fresh fish fillet exports surged to $43M in 2022. Overall, exports showed a significant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
| Export of Fresh Fish Fillet in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Switzerland | 2.4 | 2.2 | 0.9 | 10.7 | 64.6% |
| Netherlands | 1.6 | 1.3 | 0.6 | 5.4 | 50.0% |
| United States | 2.1 | 1.1 | 0.6 | 5.3 | 36.2% |
| Germany | 0.5 | 0.3 | 0.5 | 5.0 | 115.4% |
| Canada | 0.8 | 0.2 | 0.1 | 1.8 | 31.0% |
| Hong Kong SAR | 0.3 | 0.1 | N/A | 0.4 | 10.1% |
| Italy | 0.7 | 0.2 | 0.3 | N/A | -34.5% |
| Others | 0.7 | 0.3 | 1.7 | 14.6 | 175.3% |
| Total | 9.0 | 5.6 | 4.7 | 43.0 | 68.4% |
Top Export Markets for Fresh Fish Fillet from the Philippines in 2022:
- Switzerland (570.6 tons)
- Netherlands (552.4 tons)
- United States (453.5 tons)
- Germany (289.3 tons)
- Canada (94.8 tons)
- Hong Kong SAR (23.6 tons)
Fresh Fish Fillet Imports in the Philippines
Fresh fish fillet imports into the Philippines skyrocketed to 338 tons in 2022, increasing by 29% on the previous year. In general, imports recorded a significant expansion. The growth pace was the most rapid in 2020 when imports increased by 166% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the near future.
In value terms, fresh fish fillet imports surged to $1.4M in 2022. Over the period under review, imports enjoyed significant growth. The pace of growth was the most pronounced in 2021 with an increase of 177%. Imports peaked in 2022 and are expected to retain growth in the immediate term.
| Import of Fresh Fish Fillet in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Netherlands | 12.0 | 164 | 391 | 570 | 262.2% |
| New Zealand | 11.8 | 45.7 | 85.7 | 76.3 | 86.3% |
| Sweden | N/A | N/A | N/A | 4.5 | 0% |
| United Kingdom | 19.0 | 158 | 35.6 | N/A | 36.9% |
| India | 24.2 | N/A | N/A | N/A | 0% |
| Indonesia | 38.4 | 15.1 | 17.5 | N/A | -32.5% |
| Maldives | N/A | N/A | 43.4 | N/A | 0% |
| Others | 48.1 | 37.7 | 591 | 702 | 144.4% |
| Total | 154 | 421 | 1,164 | 1,352 | 106.3% |
Top Suppliers of Fresh Fish Fillet to the Philippines in 2022:
- Netherlands (77.1 tons)
- New Zealand (9.3 tons)
- Sweden (6.9 tons)
This report provides an in-depth analysis of the fresh fish fillet market in the Philippines. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 10201100 - Fresh or chilled fish fillets and other fish meat without bones
Country coverage:
- Philippines
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in the Philippines
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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