Philippines: Breakfast Cereal Market 2024

Breakfast Cereal Market Size in the Philippines

The Philippine breakfast cereal market shrank modestly to $X in 2022, waning by X% against the previous year. In general, consumption, however, enjoyed a resilient increase. Over the period under review, the market reached the peak level at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Breakfast Cereal Production in the Philippines

In value terms, breakfast cereal production contracted slightly to $X in 2022 estimated in export price. In general, production, however, recorded prominent growth. The growth pace was the most rapid in 2014 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

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Breakfast Cereal Exports

Exports from the Philippines

In 2022, shipments abroad of breakfast cereals decreased by X% to X tons, falling for the second consecutive year after two years of growth. Over the period under review, exports saw a deep setback. The most prominent rate of growth was recorded in 2019 when exports increased by X%. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, breakfast cereal exports fell to $X in 2022. Overall, exports recorded a perceptible downturn. The pace of growth appeared the most rapid in 2019 when exports increased by X%. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Malaysia (X tons), Indonesia (X tons) and China (X tons) were the main destinations of breakfast cereal exports from the Philippines, with a combined X% share of total exports. Thailand, Taiwan (Chinese), the United States, Canada, the United Arab Emirates, Saudi Arabia, Singapore, Mauritius, Bangladesh and South Korea lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by South Korea (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X), China ($X) and Thailand ($X) constituted the largest markets for breakfast cereal exported from the Philippines worldwide, together accounting for X% of total exports. The United States, Canada, Taiwan (Chinese), the United Arab Emirates, Indonesia, Saudi Arabia, Singapore, Mauritius, Bangladesh and South Korea lagged somewhat behind, together comprising a further X%.

Among the main countries of destination, South Korea, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average breakfast cereal export price stood at $X per ton in 2022, rising by X% against the previous year. Overall, export price indicated prominent growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, breakfast cereal export price increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2021 an increase of X% against the previous year. The export price peaked in 2022 and is likely to continue growth in years to come.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Indonesia ($X 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 Thailand (X%), while the prices for the other major destinations experienced more modest paces of growth.

Breakfast Cereal Imports

Imports into the Philippines

Breakfast cereal imports into the Philippines contracted slightly to X tons in 2022, with a decrease of X% on the year before. Over the period under review, imports, however, recorded a resilient expansion. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2021, and then dropped in the following year.

In value terms, breakfast cereal imports stood at $X in 2022. Overall, total imports indicated perceptible growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by X% against 2019 indices. The pace of growth appeared the most rapid in 2015 with an increase of X%. Over the period under review, imports reached the maximum at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Indonesia (X tons) constituted the largest breakfast cereal supplier to the Philippines, accounting for a X% share of total imports. Moreover, breakfast cereal imports from Indonesia exceeded the figures recorded by the second-largest supplier, Thailand (X tons), twofold. The third position in this ranking was held by South Korea (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from Indonesia stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (X% per year) and South Korea (X% per year).

In value terms, Indonesia ($X) constituted the largest supplier of breakfast cereals to the Philippines, comprising X% of total imports. The second position in the ranking was taken by Thailand ($X), with a X% share of total imports. It was followed by the United States, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Indonesia amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (X% per year) and the United States (X% per year).

Import Prices by Country

The average breakfast cereal import price stood at $X per ton in 2022, growing by X% against the previous year. Over the period under review, the import price, however, continues to indicate a pronounced descent. The pace of growth was the most pronounced in 2015 when the average import price increased by X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2016 to 2022, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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