Philippines: Bread And Bakery Market 2024

Bread And Bakery Market Size in the Philippines

The Philippine bread and bakery market reached $X in 2023, rising by X% against the previous year. In general, the total consumption indicated moderate growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption decreased by X% against 2021 indices. Over the period under review, the market hit record highs at $X in 2021; however, from 2022 to 2023, consumption remained at a lower figure.

Bread And Bakery Production in the Philippines

In value terms, bread and bakery production expanded to $X in 2023 estimated in export price. Over the period under review, the total production indicated a measured increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2018 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2021; however, from 2022 to 2023, production stood at a somewhat lower figure.

Bread And Bakery Exports

Exports from the Philippines

In 2023, the amount of bread and bakery exported from the Philippines reduced to X tons, which is down by X% on the year before. In general, exports, however, enjoyed a noticeable increase. The growth pace was the most rapid in 2016 with an increase of X% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2023, the exports failed to regain momentum.

In value terms, bread and bakery exports expanded slightly to $X in 2023. Overall, exports, however, continue to indicate a prominent increase. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2023, the exports failed to regain momentum.

Exports by Country

The United States (X tons), Canada (X tons) and the United Arab Emirates (X tons) were the main destinations of bread and bakery exports from the Philippines, together accounting for X% of total exports. Taiwan (Chinese), Singapore, Hong Kong SAR, Saudi Arabia, China, Qatar, Malaysia, Australia, the UK and Thailand lagged somewhat behind, together comprising a further X%.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Malaysia (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), the United Arab Emirates ($X) and Canada ($X) constituted the largest markets for bread and bakery exported from the Philippines worldwide, together accounting for X% of total exports. Taiwan (Chinese), Australia, Singapore, Saudi Arabia, Qatar, the UK, Hong Kong SAR, Thailand, Malaysia and China lagged somewhat behind, together comprising a further X%.

The UK, with a CAGR of X%, saw 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 bread and bakery export price stood at $X per ton in 2023, surging by X% against the previous year. Overall, the export price showed a buoyant expansion. The growth pace was the most rapid in 2018 an increase of X%. Over the period under review, the average export prices hit record highs in 2023 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Australia ($X per ton), while the average price for exports to China ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Saudi Arabia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Bread And Bakery Imports

Imports into the Philippines

In 2023, supplies from abroad of bread and bakery increased by X% to X tons for the first time since 2020, thus ending a two-year declining trend. Overall, imports enjoyed resilient growth. The most prominent rate of growth was recorded in 2017 with an increase of X%. Imports peaked at X tons in 2020; however, from 2021 to 2023, imports failed to regain momentum.

In value terms, bread and bakery imports expanded significantly to $X in 2023. In general, imports posted a significant expansion. The pace of growth appeared the most rapid in 2014 when imports increased by X% against the previous year. Imports peaked in 2023 and are likely to see gradual growth in years to come.

Imports by Country

In 2023, Indonesia (X tons) constituted the largest bread and bakery supplier to the Philippines, accounting for a X% share of total imports. Moreover, bread and bakery imports from Indonesia exceeded the figures recorded by the second-largest supplier, China (X tons), twofold. The third position in this ranking was held by Malaysia (X tons), with a X% share.

From 2012 to 2023, the average annual growth rate of volume from Indonesia amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Malaysia (X% per year).

In value terms, Indonesia ($X) constituted the largest supplier of bread and bakery to the Philippines, comprising X% of total imports. The second position in the ranking was taken by China ($X), with a X% share of total imports. It was followed by Malaysia, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value from Indonesia stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Malaysia (X% per year).

Import Prices by Country

The average bread and bakery import price stood at $X per ton in 2023, growing by X% against the previous year. In general, the import price recorded a strong expansion. The most prominent rate of growth was recorded in 2014 when the average import price increased by X%. Over the period under review, average import prices reached the maximum in 2023 and is likely to continue growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Malaysia ($X per ton), while the price for Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the United States (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform