Philippines - Cheese - Market Analysis, Forecast, Size, Trends and Insights

Philippines: Cheese Market Overview 2019

Cheese Market Size in the Philippines

The revenue of the cheese market in the Philippines amounted to $X in 2017, going 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). In general, cheese consumption continues to indicate a strong growth. The most prominent rate of growth was recorded in 2011, with an increase of X% y-o-y. Over the period under review, the cheese market attained its maximum level in 2017, and is likely to see steady growth in the immediate term.

Cheese Exports

Exports from the Philippines

In 2017, exports of cheese from the Philippines stood at X tonnes, coming up by X% against the previous year. In general, the total exports indicated a strong expansion from 2007 to 2017: its volume increased at an average annual rate of +X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations throughout the analyzed period. Based on 2017 figures, the cheese exports increased by +X% against 2012 indices. The pace of growth was the most pronounced in 2008, with an increase of X% y-o-y. Over the period under review, the cheese exports reached its maximum volume in 2017, and are likely to continue its growth in the near future.

In value terms, cheese exports stood at $X in 2017. In general, cheese exports continue to indicate a remarkable growth. The exports peaked in 2017, and are likely to continue its growth in the immediate term.

Exports by Country

China (X tonnes) was the main destination of cheese exports from the Philippines, with a X% share of total exports. Moreover, cheese exports to China exceeded the volume sent to the second major destination, Indonesia (X tonnes), twofold. The third position in this ranking was occupied by Saudi Arabia (X tonnes), with a X% share.

From 2007 to 2017, the average annual rate of growth in terms of volume to China amounted to +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+X% per year) and Saudi Arabia (+X% per year).

In value terms, Indonesia ($X), China ($X) and Saudi Arabia ($X) constituted the largest markets for cheese exported from the Philippines worldwide, with a combined X% share of total exports.

China (+X% per year) experienced the highest growth rate of exports,in terms of the main countries of destination over the last decade, while the other leaders experienced more modest paces of growth.

Export Prices by Country

The average cheese export price stood at $X per tonne in 2017, going up by X% against the previous year. In general, the export price indicated a strong expansion from 2007 to 2017: its price increased at an average annual rate of +X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations throughout the analyzed period. Based on 2017 figures, the cheese export price increased by +X% against 2009 indices. The pace of growth was the most pronounced in 2013, when it surged by X% against the previous year. The export price peaked in 2017, and is likely to continue its growth in the near future.

Export prices varied noticeably by the country of origin; the country with the highest export price was Indonesia ($X per kg), while average price for exports to China ($X per tonne) was amongst the lowest.

From 2007 to 2017, the most notable rate of growth in terms of export prices was recorded for supplies to Saudi Arabia (+X% per year), the export prices for other major destinations experienced more modest paces of growth.

Cheese Imports

Imports into the Philippines

Cheese imports into the Philippines totaled X tonnes in 2017, rising by X% against the previous year. In general, cheese imports continue to indicate a prominent expansion. The pace of growth was the most pronounced in 2016, when it surged by X% y-o-y. The imports peaked in 2017, and are expected to retain its growth in the near future.

In value terms, cheese imports stood at $X in 2017. In general, cheese imports continue to indicate a strong expansion. Over the period under review, the cheese imports attained its peak figure level in 2017, and are likely to continue its growth in the immediate term.

Imports by Country

In 2017, New Zealand (X tonnes) constituted the largest cheese supplier to the Philippines, accounting for X% share of total imports. Moreover, cheese imports from New Zealand exceeded the figures recorded by the second largest supplier, Australia (X tonnes), twofold. The third position in this ranking was occupied by the U.S. (X tonnes), with a X% share.

From 2007 to 2017, the average annual rate of growth in terms of volume from New Zealand stood at +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (+X% per year) and the U.S. (+X% per year).

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

From 2007 to 2017, the average annual growth rate of value from New Zealand totaled +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

In 2017, the average cheese import price amounted to $X per tonne, rising by X% against the previous year. Over the last decade, it increased at an average annual rate of +X%. The pace of growth was the most pronounced in 2008, an increase of X% against the previous year. Over the period under review, the average import prices for cheese reached its peak figure level of $X per tonne in 2014; however, from 2015 to 2017, it failed to regain its momentum.

There were significant differences in the average import prices amongst the major supplying countries. In 2017, the country with the highest import price was New Zealand ($X per tonne), while price for Australia ($X per tonne) was amongst the lowest.

From 2007 to 2017, the most notable rate of growth in terms of import prices was attained by New Zealand (+X% per year), the import prices for other major suppliers experienced more modest paces of growth.

Source: IndexBox AI Platform