Philippines: Bacon And Ham Market 2022

Bacon And Ham Market Size in the Philippines

In 2021, after five years of growth, there was significant decline in the Philippine bacon and ham market, when its value decreased by -X% to $X. In general, consumption, however, recorded a tangible increase. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market remained at a somewhat lower figure.

Bacon And Ham Exports

Exports from the Philippines

Bacon and ham exports from the Philippines soared to X tons in 2021, increasing by X% on 2020 figures. Over the period under review, total exports indicated a slight expansion from 2012 to 2021: its volume increased at an average annual rate of +X% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -X% against 2019 indices. The exports peaked at X tons in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

In value terms, bacon and ham exports soared to $X in 2021. Overall, exports showed a pronounced expansion. The exports peaked at $X in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

Exports by Country

Qatar (X tons), the United Arab Emirates (X tons) and Hong Kong SAR (X tons) were the main destinations of bacon and ham exports from the Philippines, with a combined X% share of total exports.

From 2012 to 2021, the biggest increases were in Hong Kong SAR (with a CAGR of +X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for bacon and ham exported from the Philippines were Qatar ($X), the United Arab Emirates ($X) and Malaysia ($X), with a combined X% share of total exports. Hong Kong SAR and Palau lagged somewhat behind, together comprising a further X Kong SAR, with a CAGR of +X%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average bacon and ham export price stood at $X per ton in 2021, surging by X% against the previous year. Over the last nine-year period, it increased at an average annual rate of +X%. The most prominent rate of growth was recorded in 2013 an increase of X% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2017; however, from 2018 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Malaysia ($X per ton), while the average price for exports to Hong Kong SAR ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+X%), while the prices for the other major destinations experienced more modest paces of growth.

Bacon And Ham Imports

Imports into the Philippines

In 2021, purchases abroad of bacon, ham and other dried, salted or smoked pig meat decreased by -X% to X tons, falling for the second consecutive year after four years of growth. Over the period under review, imports, however, showed a moderate expansion. The pace of growth appeared the most rapid in 2014 with an increase of X%. As a result, imports reached the peak of X tons. From 2015 to 2021, the growth imports failed to regain momentum.

In value terms, bacon and ham imports reduced slightly to $X in 2021. Overall, imports, however, saw notable growth. The growth pace was the most rapid in 2019 when imports increased by X% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

Italy (X tons), the United States (X tons) and Spain (X tons) were the main suppliers of bacon and ham imports to the Philippines, together comprising X% of total imports.

From 2012 to 2021, the biggest increases were in Italy (with a CAGR of +X%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, Italy ($X) constituted the largest supplier of bacon and ham to the Philippines, comprising X% of total imports. The second position in the ranking was occupied by the United States ($X), with an X% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from Italy amounted to +X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-X% per year) and Spain (+X% per year).

Import Prices by Country

In 2021, the average bacon and ham import price amounted to $X per ton, growing by X% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 an increase of X% against the previous year. Over the period under review, average import prices reached the peak figure in 2021 and is likely to see gradual growth in the immediate term.

Prices varied noticeably by the country of origin: the country with the highest price was Spain ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform