Philippines: Market for Malt Extract And Food Preparations Of Flour, Meal, And Starch 2024

Market Size for Malt Extract And Food Preparations Of Flour, Meal, And Starch in the Philippines

The Philippine market for malt extract and food preparations of flour, meal, and starches soared to $X in 2022, growing 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 continues to indicate a remarkable increase. Consumption of peaked in 2022 and is expected to retain growth in the near future.

Exports of Malt Extract And Food Preparations Of Flour, Meal, And Starch

Exports from the Philippines

Exports of malt extract and food preparations of flour, meal, and starches from the Philippines shrank significantly to X tons in 2022, which is down by X% compared with the year before. Over the period under review, exports recorded a precipitous decrease. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, exports of malt extract and food preparations of flour, meal, and starches contracted dramatically to $X in 2022. In general, exports continue to indicate a sharp decrease. The pace of growth was the most pronounced in 2021 with an increase of X%. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Indonesia (X tons) was the main destination for exports of malt extract and food preparations of flour, meal, and starches from the Philippines, with a X% share of total exports. Moreover, exports of malt extract and food preparations of flour, meal, and starches to Indonesia exceeded the volume sent to the second major destination, Vietnam (X tons), more than tenfold. South Korea (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Indonesia totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (X% per year) and South Korea (X% per year).

In value terms, Indonesia ($X) remains the key foreign market for malt extract and food preparations of flour, meal, and starches exports from the Philippines, comprising X% of total exports. The second position in the ranking was taken by Vietnam ($X), with a X% share of total exports. It was followed by Qatar, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Indonesia stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (X% per year) and Qatar (X% per year).

Export Prices by Country

In 2022, the average export price for malt extract and food preparations of flour, meal, and starches amounted to $X per ton, with an increase of X% against the previous year. Overall, the export price, however, showed a perceptible setback. The growth pace was the most rapid in 2013 an increase of X% against the previous year. The export price peaked at $X per ton in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

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

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Imports of Malt Extract And Food Preparations Of Flour, Meal, And Starch

Imports into the Philippines

In 2022, the amount of malt extract and food preparations of flour, meal, and starches imported into the Philippines expanded rapidly to X tons, increasing by X% against the previous year's figure. In general, imports saw a temperate increase. The growth pace was the most rapid in 2019 with an increase of X% against the previous year. Over the period under review, imports of hit record highs at X tons in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, imports of malt extract and food preparations of flour, meal, and starches surged to $X in 2022. Over the period under review, imports continue to indicate buoyant growth. The growth pace was the most rapid in 2019 with an increase of X%. Imports peaked in 2022 and are likely to see steady growth in the near future.

Imports by Country

In 2022, Malaysia (X tons) constituted the largest malt extract and food preparations of flour, meal, and starch supplier to the Philippines, with a X% share of total imports. Moreover, imports of malt extract and food preparations of flour, meal, and starches from Malaysia exceeded the figures recorded by the second-largest supplier, Singapore (X tons), ninefold. The third position in this ranking was taken by Australia (X tons), with a X% share.

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

In value terms, the largest malt extract and food preparations of flour, meal, and starch suppliers to the Philippines were Malaysia ($X), Singapore ($X) and Australia ($X), with a combined X% share of total imports. Thailand, France, Belarus and Indonesia lagged somewhat behind, together comprising a further X%.

France, with a CAGR of X%, recorded the highest rates of growth with regard to 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 import price for malt extract and food preparations of flour, meal, and starches amounted to $X per ton, with an increase of X% against the previous year. Over the period under review, import price indicated a measured 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, import price for malt extract and food preparations of flour, meal, and starches increased by X% against 2019 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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 Singapore ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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