Philippines: Market for Extracts And Juices Of Meat, Fish, Crustaceans And Molluscs 2024

Market Size for Extracts And Juices Of Meat, Fish, Crustaceans And Molluscs in the Philippines

The Philippine meat and fish extracts market dropped to $X in 2022, reducing 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, the total consumption indicated a pronounced expansion 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, consumption decreased by X% against 2018 indices. Meat and fish extracts consumption peaked at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Exports of Extracts And Juices Of Meat, Fish, Crustaceans And Molluscs

Exports from the Philippines

In 2022, exports of extracts and juices of meat, fish, crustaceans and molluscs from the Philippines soared to X tons, jumping by X% on the year before. In general, exports recorded buoyant growth. The pace of growth appeared the most rapid in 2016 when exports increased by X% against the previous year. As a result, the exports reached the peak of X tons. From 2017 to 2022, the growth of the exports remained at a lower figure.

In value terms, meat and fish extracts exports declined to $X in 2022. Overall, exports, however, saw a abrupt curtailment. The pace of growth appeared the most rapid in 2016 when exports increased by X%. Over the period under review, the exports attained the peak figure at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Japan (X tons), the United States (X tons) and Australia (X tons) were the main destinations of meat and fish extracts exports from the Philippines, together accounting for X% of total exports.

From 2013 to 2022, the biggest increases were recorded for the United States (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for meat and fish extracts exported from the Philippines were Japan ($X), the United States ($X) and Australia ($X), together comprising X% of total exports.

In terms of the main countries of destination, the United States, with a CAGR of X%, recorded the highest rates of growth with regard to 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

In 2022, the average meat and fish extracts export price amounted to $X per ton, reducing by X% against the previous year. Overall, the export price saw a sharp setback. The most prominent rate of growth was recorded in 2019 when the average export price increased by X% against the previous year. The export price peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

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

From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to New Zealand (X%), while the prices for the other major destinations experienced a decline.

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Imports of Extracts And Juices Of Meat, Fish, Crustaceans And Molluscs

Imports into the Philippines

After two years of growth, supplies from abroad of extracts and juices of meat, fish, crustaceans and molluscs decreased by X% to X tons in 2022. Overall, total imports indicated perceptible growth from 2012 to 2022: its volume 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. The most prominent rate of growth was recorded in 2014 when imports increased by X%. Over the period under review, imports attained the maximum at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, meat and fish extracts imports fell slightly to $X in 2022. In general, imports, however, enjoyed resilient growth. The most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Thailand (X tons) was the main meat and fish extracts supplier to the Philippines, accounting for a X% share of total imports. Moreover, meat and fish extracts imports from Thailand exceeded the figures recorded by the second-largest supplier, China (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume from Thailand totaled X%.

In value terms, Thailand ($X) constituted the largest supplier of extracts and juices of meat, fish, crustaceans and molluscs to the Philippines, comprising X% of total imports. The second position in the ranking was held by China ($X), with an X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Thailand totaled X%.

Import Prices by Country

The average meat and fish extracts import price stood at $X per ton in 2022, picking up 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 2019 an increase of X%. The import price peaked in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($X per ton), while the price for Thailand stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%).

Source: IndexBox Platform

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