Philippines: Market for Processed cheese (excluding grated or powdered) 2024

Market Size for Processed cheese (excluding grated or powdered) in the Philippines

The Philippine market for processed cheese (excluding grated or powdered) skyrocketed to $X in 2022, picking up 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). Overall, consumption enjoyed a remarkable increase. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Exports of Processed cheese (excluding grated or powdered)

Exports from the Philippines

For the fourth year in a row, the Philippines recorded growth in overseas shipments of processed cheese (excluding grated or powdered), which increased by X% to X tons in 2022. Overall, exports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 with an increase of X%. Over the period under review, the exports of reached the peak figure at X tons in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, exports of processed cheese (excluding grated or powdered) expanded significantly to $X in 2022. Over the period under review, exports enjoyed a noticeable increase. The most prominent rate of growth was recorded in 2019 with an increase of X%. Over the period under review, the exports of reached the peak figure at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

Canada (X tons), the United States (X tons) and Singapore (X tons) were the main destinations of exports of processed cheese (excluding grated or powdered) from the Philippines, with a combined X% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Canada (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Canada ($X), the United States ($X) and Singapore ($X) were the largest markets for processed cheese (excluding grated or powdered) exported from the Philippines worldwide, with a combined X% share of total exports.

Canada, with a CAGR of X%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for processed cheese (excluding grated or powdered) stood at $X per ton in 2022, surging by X% against the previous year. Overall, export price indicated a temperate 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, export price for processed cheese (excluding grated or powdered) increased by X% against 2016 indices. The most prominent rate of growth was recorded in 2018 an increase of X%. Over the period under review, the average export prices reached the peak figure in 2022 and is expected to retain growth in the near future.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the countries with the highest prices were Saudi Arabia ($X per ton) and Israel ($X per ton), while the average price for exports to Taiwan (Chinese) ($X per ton) and Singapore ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Indonesia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Processed cheese (excluding grated or powdered)

Imports into the Philippines

Imports of processed cheese (excluding grated or powdered) into the Philippines soared to X tons in 2022, growing by X% on the year before. In general, imports continue to indicate a buoyant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, imports of processed cheese (excluding grated or powdered) surged to $X in 2022. Over the period under review, imports posted strong growth. The most prominent rate of growth was recorded in 2019 when imports increased by X%. Over the period under review, imports of reached the peak figure in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, New Zealand (X tons) constituted the largest supplier of processed cheese (excluding grated or powdered) to the Philippines, with a X% share of total imports. Moreover, imports of processed cheese (excluding grated or powdered) from New Zealand exceeded the figures recorded by the second-largest supplier, Indonesia (X tons), twofold. The third position in this ranking was held by Denmark (X tons), with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from New Zealand amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (X% per year) and Denmark (X% per year).

In value terms, New Zealand ($X) constituted the largest supplier of processed cheese (excluding grated or powdered) to the Philippines, comprising X% of total imports. The second position in the ranking was taken by Indonesia ($X), with a X% share of total imports. It was followed by Denmark, with an X% share.

From 2012 to 2022, the average annual growth rate of value from New Zealand stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (X% per year) and Denmark (X% per year).

Import Prices by Country

In 2022, the average import price for processed cheese (excluding grated or powdered) amounted to $X per ton, picking up by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2020 when the average import price increased by X%. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Denmark ($X per ton) and Australia ($X per ton), while the price for Italy ($X per ton) and Germany ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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