Report Philippines - Fish Fats and Oils - Market Analysis, Forecast, Size, Trends and Insights for 499$
Latest Report Update: Jan 26, 2023

Philippines - Fish Fats and Oils - Market Analysis, Forecast, Size, Trends and Insights

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Philippines: Market for Fish Fats And Oils 2023

Market Size for Fish Fats And Oils in the Philippines

The Philippine fish fat and oil market dropped to $X in 2021, declining by -5.6% against the previous year. Over the period under review, the total consumption indicated a measured increase from 2012 to 2021: its value increased at an average annual rate of +2.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +34.8% against 2017 indices. Over the period under review, the market attained the maximum level at $X in 2020, and then contracted in the following year.

Production of Fish Fats And Oils in the Philippines

In value terms, fish fat and oil production fell to $X in 2021 estimated in export price. Over the period under review, the total production indicated a noticeable expansion from 2012 to 2021: its value increased at an average annual rate of +3.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +41.3% against 2017 indices. The pace of growth was the most pronounced in 2018 with an increase of 33% against the previous year. Over the period under review, production hit record highs at $X in 2020, and then dropped in the following year.

Exports of Fish Fats And Oils

Exports from the Philippines

Fish fat and oil exports from the Philippines shrank rapidly to X tons in 2021, declining by -30.6% on the year before. Overall, exports, however, continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 293% against the previous year. As a result, the exports reached the peak of X tons, and then contracted notably in the following year.

In value terms, fish fat and oil exports rose remarkably to $X in 2021. In general, exports, however, saw significant growth. The pace of growth appeared the most rapid in 2020 when exports increased by 177%. The exports peaked in 2021 and are likely to see steady growth in the immediate term.

Exports by Country

Peru (X tons) was the main destination for fish fat and oil exports from the Philippines, with a 77% share of total exports. Moreover, fish fat and oil exports to Peru exceeded the volume sent to the second major destination, Bangladesh (X tons), fivefold. South Korea (X tons) ranked third in terms of total exports with a 5% share.

From 2012 to 2021, the average annual growth rate of volume to Peru totaled +120.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bangladesh (+101.0% per year) and South Korea (+23.1% per year).

In value terms, Peru ($X) remains the key foreign market for fish fats and oils exports from the Philippines, comprising 84% of total exports. The second position in the ranking was taken by Japan ($X), with a 6.5% share of total exports. It was followed by Bangladesh, with a 5.9% share.

From 2012 to 2021, the average annual growth rate of value to Peru totaled +144.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (-3.0% per year) and Bangladesh (+109.4% per year).

Export Prices by Country

The average fish fat and oil export price stood at $X per ton in 2021, picking up by 60% against the previous year. In general, the export price, however, recorded a abrupt contraction. Over the period under review, the average export prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Japan ($X per ton), while the average price for exports to South Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Peru (+10.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Fish Fats And Oils

Imports into the Philippines

In 2021, after four years of decline, there was significant growth in overseas purchases of fish fats and oils, when their volume increased by 36% to X tons. Over the period under review, imports, however, recorded a abrupt contraction. The most prominent rate of growth was recorded in 2014 when imports increased by 68%. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, fish fat and oil imports soared to $X in 2021. In general, imports recorded prominent growth. The pace of growth appeared the most rapid in 2016 when imports increased by 47% against the previous year. Imports peaked in 2021 and are expected to retain growth in years to come.

Imports by Country

Chile (X tons), Vietnam (X tons) and Japan (X tons) were the main suppliers of fish fat and oil imports to the Philippines, together comprising 91% of total imports. These countries were followed by Switzerland, which accounted for a further 6.9%.

From 2012 to 2021, the biggest increases were recorded for Switzerland (with a CAGR of +103.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest fish fat and oil suppliers to the Philippines were Switzerland ($X), Chile ($X) and Japan ($X), with a combined 83% share of total imports.

Japan, with a CAGR of +117.1%, recorded 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 fish fat and oil import price stood at $X per ton in 2021, remaining constant against the previous year. Overall, the import price showed a prominent expansion. The most prominent rate of growth was recorded in 2013 when the average import price increased by 161% against the previous year. The import price peaked in 2021 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Switzerland ($X per ton), while the price for Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+11.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

Base Year Historical Period Forecast Period Units
2022 2012-2022 2023-2030 US$, Tons

Frequently Asked Questions (FAQ) :

What are the largest markets for fish fats and oils in the world?
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Norway constituted the country with the largest volume of fish fat and oil consumption, accounting for 98% of total volume.
What are the largest producers of fish fats and oils in the world?
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Norway constituted the country with the largest volume of fish fat and oil production, comprising approx. 98% of total volume.
What are the leading suppliers of fish fats and oils to the Philippines?
+
In value terms, Switzerland, Chile and Japan appeared to be the largest fish fat and oil suppliers to the Philippines, together accounting for 83% of total imports.
What are the leading importers of fish fats and oils from the Philippines?
+
In value terms, Peru remains the key foreign market for fish fats and oils exports from the Philippines, comprising 84% of total exports. The second position in the ranking was held by Japan, with a 6.5% share of total exports. It was followed by Bangladesh, with a 5.9% share.
What is the average export price for fish fats and oils in the Philippines?
+
In 2021, the average fish fat and oil export price amounted to $3,101 per ton, increasing by 60% against the previous year.
What is the average import price for fish fats and oils in the Philippines?
+
In 2021, the average fish fat and oil import price amounted to $3,938 per ton, leveling off at the previous year.

This report provides an in-depth analysis of the market for fish fat and oil in the Philippines. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.


Product coverage:
• Prodcom 10411200 - Fats and oils and their fractions of fish or marine mammals (excluding chemically modified)
Country coverage:
• Philippines

Data coverage:
• Market volume and value
• Per Capita consumption
• Forecast of the market dynamics in the medium term
• Trade (exports and imports) in the Philippines
• Export and import prices
• Market trends, drivers and restraints
• Key market players and their profiles

Reasons to buy this report:
• Take advantage of the latest data
• Find deeper insights into current market developments
• Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:
1. How to diversify your business and benefit from new market opportunities
2. How to load your idle production capacity
3. How to boost your sales on overseas markets
4. How to increase your profit margins
5. How to make your supply chain more sustainable
6. How to reduce your production and supply chain costs
7. How to outsource production to other countries
8. How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business

1.1
REPORT DESCRIPTION
1.2
RESEARCH METHODOLOGY AND AI PLATFORM
1.3
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
1.4
REPORT DESCRIPTION
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance

3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects

3.1
MARKET SIZE
3.2
MARKET STRUCTURE
3.3
TRADE BALANCE
3.4
PER CAPITA CONSUMPTION
3.5
MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business

4.1
TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
4.2
BEST-SELLING PRODUCTS
4.3
MOST CONSUMED PRODUCT
4.4
MOST TRADED PRODUCT
4.5
MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain

5.1
TOP COUNTRIES TO SOURCE YOUR PRODUCT
5.2
TOP PRODUCING COUNTRIES
5.3
TOP EXPORTING COUNTRIES
5.4
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports

6.1
TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
6.2
TOP CONSUMING MARKETS
6.3
UNSATURATED MARKETS
6.4
TOP IMPORTING MARKETS
6.5
MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry

7.1
PRODUCTION VOLUME AND VALUE
8. IMPORTS

The Largest Import Supplying Countries

8.1
IMPORTS FROM 2012–2022
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. EXPORTS

The Largest Destinations for Exports

9.1
EXPORTS FROM 2012–2022
9.2
EXPORTS BY COUNTRY
9.3
EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles

LIST OF TABLES
Table 1:
Key Findings In 2022
Table 2:
Market Volume, In Physical Terms, 2012–2022
Table 3:
Market Value, 2012–2022
Table 4:
Per Capita Consumption In 2007-2022
Table 5:
Imports, In Physical Terms, By Country, 2012–2022
Table 6:
Imports, In Value Terms, By Country, 2012–2022
Table 7:
Import Prices, By Country Of Origin, 2012–2022
Table 8:
Exports, In Physical Terms, By Country, 2012–2022
Table 9:
Exports, In Value Terms, By Country, 2012–2022
Table 10:
Export Prices, By Country Of Destination, 2012–2022
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2012–2022
Figure 2:
Market Value, 2012–2022
Figure 3:
Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2007-2022
Figure 4:
Market Structure – Domestic Supply vs. Imports, In Value Terms, 2007-2022
Figure 5:
Trade Balance, In Physical Terms, 2007-2022
Figure 6:
Trade Balance, In Value Terms, 2007-2022
Figure 7:
Per Capita Consumption, 2007-2022
Figure 8:
Market Forecast To 2030
Figure 9:
Products: Market Size And Growth, By Type
Figure 10:
Products: Average Per Capita Consumption, By Type
Figure 11:
Products: Exports And Growth, By Type
Figure 12:
Products: Export Prices And Growth, By Type
Figure 13:
Production Volume And Growth
Figure 14:
Exports And Growth
Figure 15:
Export Prices And Growth
Figure 16:
Market Size And Growth
Figure 17:
Per Capita Consumption
Figure 18:
Imports And Growth
Figure 19:
Import Prices
Figure 20:
Production, In Physical Terms, 2012–2022
Figure 21:
Production, In Value Terms, 2012–2022
Figure 22:
Imports, In Physical Terms, 2012–2022
Figure 23:
Imports, In Value Terms, 2012–2022
Figure 24:
Imports, In Physical Terms, By Country, 2022
Figure 25:
Imports, In Physical Terms, By Country, 2012–2022
Figure 26:
Imports, In Value Terms, By Country, 2012–2022
Figure 27:
Import Prices, By Country Of Origin, 2012–2022
Figure 28:
Exports, In Physical Terms, 2012–2022
Figure 29:
Exports, In Value Terms, 2012–2022
Figure 30:
Exports, In Physical Terms, By Country, 2022
Figure 31:
Exports, In Physical Terms, By Country, 2012–2022
Figure 32:
Exports, In Value Terms, By Country, 2012–2022
Figure 33:
Export Prices, By Country Of Destination, 2012–2022
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