Philippines: Cheese Market Overview 2021

Cheese Market Size in the Philippines

The Philippine cheese market rose remarkably to $X in 2019, picking up by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption showed a strong expansion. The growth pace was the most rapid in 2010 when the market value increased by X% y-o-y. Cheese consumption peaked in 2019 and is expected to retain growth in the immediate term.

Cheese Exports

Exports from the Philippines

In 2019, exports of cheese from the Philippines expanded significantly to X tonnes, growing by X% against 2018 figures. Over the period under review, exports posted a tangible expansion. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. As a result, exports reached the peak of X tonnes. From 2014 to 2019, the growth exports failed to regain the momentum.

In value terms, cheese exports soared to $X in 2019. Overall, exports saw a temperate expansion. The pace of growth was the most pronounced in 2013 when exports increased by X% y-o-y. As a result, exports attained the peak of $X. From 2014 to 2019, the growth exports remained at a somewhat lower figure.

Exports by Country

The United Arab Emirates (X tonnes) was the main destination for cheese exports from the Philippines, accounting for a X% share of total exports. Moreover, cheese exports to the United Arab Emirates exceeded the volume sent to the second major destination, Hong Kong SAR (X tonnes), threefold. The third position in this ranking was occupied by the U.S. (X tonnes), with a X% share.

From 2007 to 2019, the average annual rate of growth in terms of volume to the United Arab Emirates totaled +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (+X% per year) and the U.S. (-X% per year).

In value terms, the United Arab Emirates ($X) remains the key foreign market for cheese exports from the Philippines, comprising X% of total exports. The second position in the ranking was occupied by the U.S. ($X), with a X% share of total exports. It was followed by Hong Kong SAR, with a X% share.

From 2007 to 2019, the average annual rate of growth in terms of value to the United Arab Emirates amounted to +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the U.S. (-X% per year) and Hong Kong SAR (+X% per year).

Export Prices by Country

In 2019, the average cheese export price amounted to $X per tonne, with an increase of X% against the previous year. Overall, the export price, however, saw a mild curtailment. The pace of growth was the most pronounced in 2015 an increase of X% y-o-y. The export price peaked at $X per tonne in 2011; however, from 2012 to 2019, export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2019, the country with the highest price was Singapore ($X per tonne), while the average price for exports to Taiwan (Chinese) ($X per tonne) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to Taiwan (Chinese), while the prices for the other major destinations experienced more modest paces of growth.

Cheese Imports

Imports into the Philippines

For the sixth consecutive year, the Philippines recorded growth in purchases abroad of cheese, which increased by X% to X tonnes in 2019. Over the period under review, imports continue to indicate a buoyant increase. The pace of growth was the most pronounced in 2016 with an increase of X% y-o-y. Over the period under review, imports attained the maximum in 2019 and are likely to see steady growth in the immediate term.

In value terms, cheese imports expanded significantly to $X in 2019. Overall, imports saw a strong expansion. The most prominent rate of growth was recorded in 2010 when imports increased by X% y-o-y. Over the period under review, imports hit record highs in 2019 and are likely to see gradual growth in the near future.

Imports by Country

In 2019, New Zealand (X tonnes) constituted the largest supplier of cheese to the Philippines, accounting for a X% share of total imports. Moreover, cheese imports from New Zealand exceeded the figures recorded by the second-largest supplier, the U.S. (X tonnes), twofold. The third position in this ranking was occupied by Australia (X tonnes), with a X% share.

From 2007 to 2019, the average annual growth rate of volume from New Zealand amounted to +X%. The remaining supplying countries recorded the following average annual rates of imports growth: the U.S. (+X% per year) and Australia (+X% per year).

In value terms, New Zealand ($X) constituted the largest supplier of cheese to the Philippines, comprising X% of total imports. The second position in the ranking was occupied by the U.S. ($X), with a X% share of total imports. It was followed by Australia, with a X% share.

From 2007 to 2019, the average annual growth rate of value from New Zealand stood at +X%. The remaining supplying countries recorded the following average annual rates of imports growth: the U.S. (+X% per year) and Australia (+X% per year).

Import Prices by Country

The average cheese import price stood at $X per tonne in 2019, rising by X% against the previous year. Over the last twelve years, it increased at an average annual rate of +X%. The most prominent rate of growth was recorded in 2010 when the average import price increased by X% year-to-year. The import price peaked at $X per tonne in 2014; however, from 2015 to 2019, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2019, the country with the highest price was Ireland ($X per tonne), while the price for the Netherlands ($X per tonne) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by Indonesia, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for cheese in the world?

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The U.S. (6.3M tonnes) constituted the country with the largest volume of cheese consumption, comprising approx. 26% of total volume. Moreover, cheese consumption in the U.S. exceeded the figures recorded by the second-largest consumer, Germany (2.1M tonnes), threefold. France (1.4M tonnes) ranked third in terms of total consumption with a 5.9% share.

What are the largest producers of cheese in the world?

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The country with the largest volume of cheese production was the U.S. (6.5M tonnes), accounting for 27% of total volume. Moreover, cheese production in the U.S. exceeded the figures recorded by the second-largest producer, Germany (2.5M tonnes), threefold. France (1.7M tonnes) ranked third in terms of total production with a 7.2% share.

What are the leading suppliers of cheese to the Philippines?

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In value terms, New Zealand ($65M) constituted the largest supplier of cheese to the Philippines, comprising 40% of total imports. The second position in the ranking was occupied by the U.S. ($29M), with a 18% share of total imports. It was followed by Australia, with a 16% share.

What are the leading importers of cheese from the Philippines?

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In value terms, the United Arab Emirates ($741K) remains the key foreign market for cheese exports from the Philippines, comprising 38% of total exports. The second position in the ranking was occupied by the U.S. ($348K), with a 18% share of total exports. It was followed by Hong Kong SAR, with a 17% share.

What is the average export price for cheese in the Philippines?

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The average cheese export price stood at $3,964 per tonne in 2019, growing by 6.9% against the previous year.

What is the average import price for cheese in the Philippines?

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In 2019, the average cheese import price amounted to $3,900 per tonne, with an increase of 4.2% against the previous year.