Philippines: Market for Manufactured Tobacco, Extracts And Essences 2024

Market Size for Manufactured Tobacco, Extracts And Essences in the Philippines

In 2022, the Philippine market for manufactured tobacco, extracts and essences was finally on the rise to reach $X for the first time since 2019, thus ending a two-year declining trend. Over the period under review, consumption saw a abrupt contraction. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Production of Manufactured Tobacco, Extracts And Essences in the Philippines

In value terms, manufactured tobacco, extracts and essences production totaled less than $X in 2022 estimated in export price. Overall, production showed a remarkable increase. The pace of growth appeared the most rapid in 2015 when the production volume increased by X% against the previous year. Over the period under review, production reached the peak level at $X in 2016; however, from 2017 to 2022, production failed to regain momentum.

Join Us at HANNOVER MESSE 2024

Don’t miss your chance to connect with us directly. Schedule a personal meeting to dive deeper into how solutions.
Hall 002, Stand C10. 22 - 26 April 2024 | Hannover, Germany

Book Your Meeting

Exports of Manufactured Tobacco, Extracts And Essences

Exports from the Philippines

In 2022, approx. X tons of manufactured tobacco, extracts and essences were exported from the Philippines; with an increase of X% against the previous year's figure. Overall, exports enjoyed a buoyant expansion. The pace of growth was the most pronounced in 2015 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, manufactured tobacco, extracts and essences exports soared to $X in 2022. In general, exports continue to indicate a significant expansion. The pace of growth was the most pronounced in 2015 with an increase of X% against the previous year. The exports peaked in 2022 and are likely to see steady growth in the near future.

Exports by Country

Thailand (X tons) was the main destination for manufactured tobacco, extracts and essences exports from the Philippines, with a X% share of total exports. Moreover, manufactured tobacco, extracts and essences exports to Thailand exceeded the volume sent to the second major destination, Vietnam (X tons), more than tenfold. The third position in this ranking was held by Cambodia (X tons), with a X% share.

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

In value terms, Thailand ($X) remains the key foreign market for manufactured tobacco, extracts and essences exports from the Philippines, comprising X% of total exports. The second position in the ranking was taken by Vietnam ($X), with a X% share of total exports. It was followed by South Korea, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Thailand amounted to 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).

Export Prices by Country

The average export price for manufactured tobacco, extracts and essences stood at $X per ton in 2022, rising by X% against the previous year. In general, export price indicated moderate growth 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, manufactured tobacco, extracts and essences export price increased by X% against 2019 indices. The growth pace was the most rapid in 2014 an increase of X% against the previous year. Over the period under review, the average export prices reached the maximum in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to Vietnam ($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 Thailand (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Manufactured Tobacco, Extracts And Essences

Imports into the Philippines

Manufactured tobacco, extracts and essences imports into the Philippines amounted to X tons in 2022, growing by X% on the previous year's figure. Over the period under review, imports enjoyed a measured expansion. The pace of growth appeared the most rapid in 2016 when imports increased by X%. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, manufactured tobacco, extracts and essences imports surged to $X in 2022. Overall, imports showed prominent growth. The most prominent rate of growth was recorded in 2017 when imports increased by 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

Malaysia (X tons), Japan (X tons) and Belgium (X tons) were the main suppliers of manufactured tobacco, extracts and essences imports to the Philippines, with a combined X% share of total imports. Russia, South Korea, Germany and Singapore lagged somewhat behind, together accounting for a further X%.

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

In value terms, Japan ($X) constituted the largest supplier of manufactured tobacco, extracts and essences to the Philippines, comprising X% of total imports. The second position in the ranking was held by Malaysia ($X), with a X% share of total imports. It was followed by South Korea, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Japan totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (X% per year) and South Korea (X% per year).

Import Prices by Country

The average import price for manufactured tobacco, extracts and essences stood at $X per ton in 2022, surging by X% against the previous year. Over the period under review, the import price saw a prominent increase. The pace of growth was the most pronounced in 2017 when the average import price increased by X% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in the near future.

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

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :