Philippines - Frozen Fish And Seafood - Market Analysis, Forecast, Size, Trends And Insights
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View PricingPrice for Frozen Fish and Seafood in the Philippines - 2023
Contents:
- Price for Frozen Fish and Seafood in the Philippines (CIF) - 2022
- Price for Frozen Fish and Seafood in the Philippines (FOB) - 2022
- Imports of Frozen Fish and Seafood in the Philippines
- Exports of Frozen Fish and Seafood in the Philippines
Price for Frozen Fish and Seafood in the Philippines (CIF) - 2022
The average frozen fish and seafood import price stood at $2,627 per ton in 2022, rising by 11% against the previous year. In general, the import price saw a strong expansion. The growth pace was the most rapid in 2019 an increase of 50%. The import price peaked in 2022 and is likely to see gradual growth in the near future.
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 the United States ($4,466 per ton), while the price for Micronesia ($1,806 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+20.2%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Frozen Fish and Seafood in the Philippines (FOB) - 2022
The average frozen fish and seafood export price stood at $4,474 per ton in 2022, increasing by 14% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the average export price increased by 73% against the previous year. The export price peaked at $4,555 per ton in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was South Korea ($8,802 per ton), while the average price for exports to Italy ($2,841 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Taiwan (Chinese) (+12.2%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Frozen Fish and Seafood in the Philippines
In 2022, approx. 287K tons of frozen fish and seafood were imported into the Philippines; increasing by 8.5% compared with the previous year's figure. Over the period under review, imports, however, saw a pronounced decline.
In value terms, frozen fish and seafood imports surged to $755M in 2022. The total import value increased at an average annual rate of +5.4% over the period from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 when imports increased by 27% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the near future.
| Import of Frozen Fish and Seafood in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 174 | 125 | 210 | 281 | 17.3% |
| Vietnam | 120 | 58.9 | 93.1 | 119 | -0.3% |
| Papua New Guinea | 171 | 123 | 135 | 116 | -12.1% |
| Taiwan (Chinese) | 15.4 | 20.1 | 25.7 | 25.7 | 18.6% |
| Micronesia | 3.1 | 16.0 | 7.1 | 24.3 | 98.6% |
| South Korea | 17.7 | 14.5 | 13.8 | 24.3 | 11.1% |
| Nauru | 3.0 | 18.1 | 22.2 | 22.5 | 95.7% |
| Japan | 18.0 | 22.0 | 20.1 | 22.4 | 7.6% |
| Kiribati | 15.0 | 11.7 | 9.9 | 19.4 | 9.0% |
| Indonesia | 14.7 | 13.0 | 10.5 | 5.9 | -26.2% |
| Others | 93.1 | 69.0 | 76.7 | 94.2 | 0.4% |
| Total | 645 | 492 | 624 | 755 | 5.4% |
Top Suppliers of Frozen Fish and Seafood to the Philippines in 2022:
- China (92.1K tons)
- Papua New Guinea (57.6K tons)
- Vietnam (34.4K tons)
- Taiwan (Chinese) (13.5K tons)
- Micronesia (13.5K tons)
- Nauru (12.1K tons)
- South Korea (11.6K tons)
- Japan (11.0K tons)
- Kiribati (10.6K tons)
- Indonesia (2.3K tons)
Exports of Frozen Fish and Seafood in the Philippines
In 2022, approx. 47K tons of frozen fish and seafood were exported from the Philippines; surging by 3.5% compared with the previous year. Over the period under review, exports, however, saw a deep reduction. The growth pace was the most rapid in 2020 when exports increased by 47%. As a result, the exports attained the peak of 107K tons. From 2021 to 2022, the growth of the exports failed to regain momentum.
In value terms, frozen fish and seafood exports surged to $211M in 2022. Overall, exports, however, continue to indicate a deep setback.
| Export of Frozen Fish and Seafood in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 65.9 | 70.4 | 62.3 | 64.4 | -0.8% |
| Japan | 85.8 | 56.4 | 52.3 | 58.3 | -12.1% |
| Vietnam | 14.8 | 18.3 | 5.0 | 17.0 | 4.7% |
| South Korea | 12.7 | 6.0 | 8.3 | 10.4 | -6.4% |
| Taiwan (Chinese) | 12.5 | 6.8 | 10.1 | 9.5 | -8.7% |
| Canada | 6.1 | 4.9 | 4.4 | 7.0 | 4.7% |
| Italy | 6.7 | 33.4 | 3.6 | 7.0 | 1.5% |
| Thailand | 2.5 | 2.9 | 7.9 | 6.2 | 35.4% |
| Spain | 19.4 | 18.9 | 3.2 | 5.9 | -32.8% |
| China | 4.5 | 2.4 | 3.9 | 5.0 | 3.6% |
| Hong Kong SAR | 6.3 | 4.5 | 6.0 | 4.8 | -8.7% |
| Others | 21.5 | 19.2 | 12.9 | 15.8 | -9.8% |
| Total | 259 | 244 | 180 | 211 | -6.6% |
Top Export Markets for Frozen Fish and Seafood from the Philippines in 2022:
- United States (13.6K tons)
- Japan (13.1K tons)
- Vietnam (4.9K tons)
- Italy (2.5K tons)
- Thailand (2.1K tons)
- Spain (1.9K tons)
- Canada (1.8K tons)
- Taiwan (Chinese) (1.8K tons)
- South Korea (1.2K tons)
- Hong Kong SAR (1.0K tons)
- China (0.7K tons)
This report provides an in-depth analysis of the market for frozen fish and seafood 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 10201330 - Frozen whole salt water fish
- Prodcom 10201360 - Frozen whole fresh water fish
- Prodcom 10201600 - Frozen fish livers and roes
- Prodcom 10201500 - Frozen fish meat without bones (excluding fillets)
- Prodcom 10201400 - Frozen fish fillets
- Prodcom 10203100 - Frozen crustaceans, frozen flours, meals and pellets of crustaceans, fit for human consumption
- Prodcom 10203200 - Molluscs (scallops, mussels, cuttle fish, squid and octopus), frozen, dried, smoked, salted or in brine
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
-
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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