Philippines: Vegetable Puree Market 2024

Vegetable Puree Market Size in the Philippines

The Philippine vegetable puree market shrank sharply to $X in 2022, which is down 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, consumption, however, enjoyed a notable expansion. Vegetable puree consumption peaked at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Vegetable Puree Exports

Exports from the Philippines

After five years of growth, shipments abroad of vegetable puree decreased by X% to X tons in 2022. Overall, exports, however, showed a perceptible expansion. The most prominent rate of growth was recorded in 2014 with an increase of X%. Over the period under review, the exports hit record highs at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, vegetable puree exports shrank dramatically to $X in 2022. Over the period under review, exports, however, posted resilient growth. The most prominent rate of growth was recorded in 2014 when exports increased by X%. Over the period under review, the exports attained the peak figure at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

The Netherlands (X tons) was the main destination for vegetable puree exports from the Philippines, with a X% share of total exports. Moreover, vegetable puree exports to the Netherlands exceeded the volume sent to the second major destination, Switzerland (X kg), more than tenfold. Austria (X kg) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the Netherlands amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Switzerland (X% per year) and Austria (X% per year).

In value terms, the Netherlands ($X) remains the key foreign market for vegetable puree exports from the Philippines, comprising X% of total exports. The second position in the ranking was held by Switzerland ($X), with a X% share of total exports. It was followed by Finland, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the Netherlands stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Switzerland (X% per year) and Finland (X% per year).

Export Prices by Country

In 2022, the average vegetable puree export price amounted to $X per ton, growing by X% against the previous year. Over the period under review, export price indicated a slight increase 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, vegetable puree export price increased by X% against 2020 indices. Over the period under review, the average export prices attained the peak figure at $X per ton in 2017; afterwards, it flattened through to 2022.

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

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Vegetable Puree Imports

Imports into the Philippines

In 2022, the amount of vegetable puree imported into the Philippines contracted notably to X tons, with a decrease of X% on the year before. Over the period under review, imports, however, continue to indicate mild growth. The pace of growth was the most pronounced in 2013 when imports increased by X%. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, vegetable puree imports dropped rapidly to $X in 2022. In general, imports, however, continue to indicate a notable increase. The growth pace was the most rapid in 2013 when imports increased by X%. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Poland (X tons), China (X tons) and South Korea (X tons) were the main suppliers of vegetable puree imports to the Philippines, together accounting for X% of total imports.

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

In value terms, Poland ($X) constituted the largest supplier of vegetable puree to the Philippines, comprising X% of total imports. The second position in the ranking was taken by China ($X), with a X% share of total imports. It was followed by Pakistan, with a X% share.

From 2012 to 2022, the average annual growth rate of value from Poland amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Pakistan (X% per year).

Import Prices by Country

In 2022, the average vegetable puree import price amounted to $X per ton, 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 growth pace was the most rapid in 2020 an increase of X%. The import price peaked in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Poland ($X per ton), while the price for China ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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