Philippines: Market for Frozen Fruits And Vegetables 2024

Market Size for Frozen Fruits And Vegetables in the Philippines

The Philippine frozen fruits and vegetables market expanded remarkably to $X in 2022, with an increase of X% against the previous year. Over the period under review, consumption continues to indicate prominent growth. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in years to come.

Production of Frozen Fruits And Vegetables in the Philippines

In value terms, frozen fruits and vegetables production reached $X in 2022 estimated in export price. Overall, production continues to indicate a resilient expansion. The pace of growth appeared the most rapid in 2019 with an increase of X%. Frozen fruits and vegetables production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

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Exports of Frozen Fruits And Vegetables

Exports from the Philippines

In 2022, shipments abroad of frozen fruits and vegetables increased by X% to X tons, rising for the third year in a row after two years of decline. Over the period under review, exports enjoyed resilient growth. The pace of growth appeared the most rapid in 2017 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, frozen fruits and vegetables exports surged to $X in 2022. In general, exports showed a strong expansion. The most prominent rate of growth was recorded in 2017 when exports increased by X%. Over the period under review, the exports reached the maximum in 2022 and are likely to see gradual growth in the near future.

Exports by Country

Japan (X tons), the United States (X tons) and Canada (X tons) were the main destinations of frozen fruits and vegetables exports from the Philippines, together accounting for X% of total exports. The UK, Thailand, China, Australia, Hong Kong SAR, South Korea, the Netherlands, the United Arab Emirates and Singapore lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for Thailand (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) emerged as the key foreign market for frozen fruits and vegetables exports from the Philippines, comprising X% of total exports. The second position in the ranking was taken by the United States ($X), with a X% share of total exports. It was followed by Canada, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Japan totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Canada (X% per year).

Export Prices by Country

The average frozen fruits and vegetables export price stood at $X per ton in 2022, increasing by X% against the previous year. Over the period under review, export price indicated a notable expansion from 2012 to 2022: its price 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, frozen fruits and vegetables export price increased by X% against 2016 indices. The most prominent rate of growth was recorded in 2019 an increase of X%. Over the period under review, the average export prices reached the maximum in 2022 and is likely to continue growth in the immediate term.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the countries with the highest prices were China ($X per ton) and the Netherlands ($X per ton), while the average price for exports to the United States ($X per ton) and Canada ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Thailand (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Frozen Fruits And Vegetables

Imports into the Philippines

In 2022, frozen fruits and vegetables imports into the Philippines skyrocketed to X tons, rising by X% against the previous year's figure. In general, imports saw buoyant growth. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the near future.

In value terms, frozen fruits and vegetables imports surged to $X in 2022. Overall, imports saw a resilient increase. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in years to come.

Imports by Country

The United States (X tons), China (X tons) and India (X tons) were the main suppliers of frozen fruits and vegetables imports to the Philippines, with a combined X% share of total imports.

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

In value terms, the largest frozen fruits and vegetables suppliers to the Philippines were the United States ($X), China ($X) and India ($X), with a combined X% share of total imports.

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

Import Prices by Country

In 2022, the average frozen fruits and vegetables import price amounted to $X per ton, surging by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were New Zealand ($X per ton) and the United States ($X per ton), while the price for China ($X per ton) and Belgium ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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