Philippines: Market for Meat Preparations of Poultry 2024

Market Size for Meat Preparations of Poultry in the Philippines

The Philippine meat preparations of poultry market declined to $X in 2022, with a decrease of X% against the previous year. In general, consumption, however, enjoyed a prominent increase. Meat preparations of poultry consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Production of Meat Preparations of Poultry in the Philippines

In value terms, meat preparations of poultry production declined to $X in 2022 estimated in export price. In general, production, however, recorded a noticeable expansion. The growth pace was the most rapid in 2018 with an increase of X%. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Exports of Meat Preparations of Poultry

Exports from the Philippines

In 2022, shipments abroad of meat preparations of poultry increased by X% to X tons, rising for the second consecutive year after four years of decline. Overall, exports, however, continue to indicate a abrupt setback. The pace of growth appeared the most rapid in 2021 when exports increased by X%. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, meat preparations of poultry exports soared to $X in 2022. Over the period under review, exports, however, showed a abrupt downturn. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Japan (X tons) was the main destination for meat preparations of poultry exports from the Philippines, with a X% share of total exports. Moreover, meat preparations of poultry exports to Japan exceeded the volume sent to the second major destination, Qatar (X tons), tenfold.

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

In value terms, Japan ($X) remains the key foreign market for meat preparations of poultry exports from the Philippines, comprising X% of total exports. The second position in the ranking was held by Qatar ($X), with a X% share of total exports.

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

Export Prices by Country

In 2022, the average meat preparations of poultry export 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%. The growth pace was the most rapid in 2013 an increase of X%. The export price peaked in 2022 and is expected to retain growth in the immediate term.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Qatar ($X per ton), while the average price for exports to Japan ($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 Kuwait (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Meat Preparations of Poultry

Imports into the Philippines

Meat preparations of poultry imports into the Philippines surged to X tons in 2022, picking up by X% against the year before. Over the period under review, imports showed significant growth. The most prominent rate of growth was recorded in 2013 when imports increased by X% against the previous year. Imports peaked in 2022 and are likely to see steady growth in years to come.

In value terms, meat preparations of poultry imports skyrocketed to $X in 2022. In general, imports continue to indicate a significant increase. The pace of growth appeared the most rapid in 2015 with an increase of X% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2022, China (X tons) constituted the largest meat preparations of poultry supplier to the Philippines, with a X% share of total imports. Moreover, meat preparations of poultry imports from China exceeded the figures recorded by the second-largest supplier, Thailand (X tons), fourfold. The third position in this ranking was taken by South Korea (X tons), with a X% share.

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

In value terms, China ($X), Thailand ($X) and South Korea ($X) constituted the largest meat preparations of poultry suppliers to the Philippines, with a combined X% share of total imports.

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

Import Prices by Country

The average meat preparations of poultry import price stood at $X per ton in 2022, picking up by X% against the previous year. Overall, the import price, however, saw a perceptible downturn. The most prominent rate of growth was recorded in 2015 an increase of X%. Over the period under review, average import prices attained the peak figure at $X per ton in 2017; however, from 2018 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 Thailand ($X per ton), while the price for South Korea ($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 mixed trend patterns.

Source: IndexBox Platform

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