Philippines: Pasta Products Market 2024

Pasta Products Market Size in the Philippines

The Philippine pasta products market expanded slightly to $X in 2022, growing by X% against the previous year. In general, consumption recorded prominent growth. Pasta products consumption peaked in 2022 and is likely to continue growth in the near future.

Pasta Products Production in the Philippines

In value terms, pasta products production fell to $X in 2022 estimated in export price. Overall, production, however, showed a strong expansion. The most prominent rate of growth was recorded in 2018 with an increase of X%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

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Pasta Products Exports

Exports from the Philippines

In 2022, shipments abroad of dried, undried and frozen pasta and pasta products decreased by X% to X tons, falling for the third year in a row after two years of growth. In general, exports recorded a deep reduction. The pace of growth appeared the most rapid in 2014 when exports increased by X%. As a result, the exports reached the peak of X tons. From 2015 to 2022, the growth of the exports failed to regain momentum.

In value terms, pasta products exports reduced markedly to $X in 2022. Over the period under review, exports recorded a abrupt setback. The pace of growth appeared the most rapid in 2018 when exports increased by X%. As a result, the exports attained the peak of $X. From 2019 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Singapore (X tons), the United States (X tons) and the United Arab Emirates (X tons) were the main destinations of pasta products exports from the Philippines, together comprising X% of total exports.

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

In value terms, the United Arab Emirates ($X), the United States ($X) and Singapore ($X) constituted the largest markets for pasta products exported from the Philippines worldwide, together accounting for X% of total exports.

Among the main countries of destination, Singapore, 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 pasta products export price stood at $X per ton in 2022, reducing by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2018 when the average export price increased by X%. As a result, the export price reached the peak level of $X per ton. From 2019 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Taiwan (Chinese) ($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 the United Arab Emirates (X%), while the prices for the other major destinations experienced more modest paces of growth.

Pasta Products Imports

Imports into the Philippines

In 2022, overseas purchases of dried, undried and frozen pasta and pasta products increased by X% to X tons, rising for the third consecutive year after two years of decline. Overall, imports continue to indicate a strong expansion. The most prominent rate of growth was recorded in 2017 when imports increased by X%. As a result, imports reached the peak of X tons. From 2018 to 2022, the growth of imports remained at a lower figure.

In value terms, pasta products imports skyrocketed to $X in 2022. In general, imports recorded a buoyant expansion. The growth pace was the most rapid in 2017 when imports increased by X%. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in years to come.

Imports by Country

South Korea (X tons), China (X tons) and Indonesia (X tons) were the main suppliers of pasta products imports to the Philippines, with a combined X% share of total imports. Japan, the United Arab Emirates, the United States, Vietnam and Italy lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Vietnam (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest pasta products suppliers to the Philippines were Indonesia ($X), China ($X) and South Korea ($X), together comprising X% of total imports. Japan, Vietnam, the United Arab Emirates, the United States and Italy lagged somewhat behind, together accounting for a further X%.

Vietnam, with a CAGR of X%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average pasta products import price stood at $X per ton in 2022, growing 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 2019 an increase of X% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2020; afterwards, it flattened through to 2022.

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

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

Source: IndexBox Platform

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