Philippines: Food Manufacture Machinery Market 2024

Food Manufacture Machinery Market Size in the Philippines

The Philippine food manufacture machinery market soared to $X in 2022, growing by X% against the previous year. Over the period under review, the total consumption indicated a notable 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 increased by X% against 2015 indices. Food manufacture machinery consumption peaked in 2022 and is expected to retain growth in the immediate term.

Food Manufacture Machinery Production in the Philippines

In value terms, food manufacture machinery production stood at $X in 2022 estimated in export price. Over the period under review, production continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Food Manufacture Machinery Exports

Exports from the Philippines

In 2022, shipments abroad of machinery for the preparation or manufacture of food or drink decreased by X% to X units for the first time since 2017, thus ending a four-year rising trend. Over the period under review, exports, however, continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of X%. Over the period under review, the exports attained the maximum at X units in 2021, and then reduced slightly in the following year.

In value terms, food manufacture machinery exports declined dramatically to $X in 2022. In general, exports, however, showed a significant increase. The most prominent rate of growth was recorded in 2013 when exports increased by X%. The exports peaked at $X in 2021, and then declined significantly in the following year.

Exports by Country

Australia (X units) was the main destination for food manufacture machinery exports from the Philippines, with a X% share of total exports. It was followed by Bangladesh (X units), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Australia amounted to X%.

In value terms, Australia ($X) remains the key foreign market for machinery for the preparation or manufacture of food or drink exports from the Philippines, comprising X% of total exports. The second position in the ranking was taken by Bangladesh ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Australia amounted to X%.

Export Prices by Country

In 2022, the average food manufacture machinery export price amounted to $X per unit, shrinking by X% against the previous year. In general, the export price recorded a perceptible downturn. The pace of growth was the most pronounced in 2014 an increase of X% against the previous year. Over the period under review, the average export prices reached the maximum at $X per unit in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Bangladesh ($X per unit), while the average price for exports to Australia stood at $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Australia (X%).

Food Manufacture Machinery Imports

Imports into the Philippines

Food manufacture machinery imports into the Philippines surged to X units in 2022, growing by X% against the year before. In general, imports continue to indicate significant growth. The pace of growth appeared the most rapid in 2015 when imports increased by X%. Imports peaked in 2022 and are likely to see gradual growth in the immediate term.

In value terms, food manufacture machinery imports skyrocketed to $X in 2022. Overall, imports recorded prominent growth. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, China (X units) constituted the largest food manufacture machinery supplier to the Philippines, with a X% share of total imports. Moreover, food manufacture machinery imports from China exceeded the figures recorded by the second-largest supplier, Australia (X units), tenfold. Italy (X units) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (X% per year) and Italy (X% per year).

In value terms, China ($X), Australia ($X) and the United States ($X) appeared to be the largest food manufacture machinery suppliers to the Philippines, together accounting for X% of total imports. Taiwan (Chinese), India and Italy lagged somewhat behind, together comprising a further X%.

Italy, with a CAGR of X%, 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

In 2022, the average food manufacture machinery import price amounted to $X per unit, declining by X% against the previous year. Overall, the import price showed a deep setback. The pace of growth was the most pronounced in 2019 an increase of X%. Over the period under review, average import prices attained the maximum at $X per unit in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per unit), while the price for China ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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