Philippines: Confectionery Market 2022

Confectionery Market Size in the Philippines

The philippine confectionery market rose significantly to $X in 2021, with an increase of 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).The market value increased at an average annual rate of +X% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years.Confectionery consumption peaked at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Confectionery Production in the Philippines

In value terms, confectionery production rose sharply to $X in 2021 estimated in export price.The total output value increased at an average annual rate of +X% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period.The growth pace was the most rapid in 2013 with an increase of X% against the previous year.Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Confectionery Exports

Exports from the Philippines

Confectionery exports from the philippines soared to X tons in 2021, picking up by X% against the year before.Overall, exports, however, showed a relatively flat trend pattern.Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, confectionery exports soared to $X in 2021.The total export value increased at an average annual rate of +X% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years.As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

China (X tons), Vietnam (X tons) and Thailand (X tons) were the main destinations of confectionery exports from the Philippines, with a combined X% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by China (with a CAGR of +X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for confectionery exported from the Philippines were China ($X), Vietnam ($X) and Thailand ($X), with a combined X% share of total exports.

Among the main countries of destination, China, with a CAGR of +X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average confectionery export price amounted to $X per ton, rising by X% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +X%. The growth pace was the most rapid in 2013 when the average export price increased by X%. Over the period under review, the average export prices attained the peak figure in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Australia ($X per ton), while the average price for exports to Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+X%), while the prices for the other major destinations experienced more modest paces of growth.

Confectionery Imports

Imports into the Philippines

In 2021, imports of confectionery into the philippines skyrocketed to X tons, rising by X% compared with 2020.In general, total imports indicated a resilient expansion from 2012 to 2021: its volume increased at an average annual rate of +X% over the last nine-year period. the trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. based on 2021 figures, imports decreased by -X% against 2019 indices.The growth pace was the most rapid in 2014 when imports increased by X% against the previous year.Over the period under review, imports reached the maximum at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, confectionery imports soared to $X in 2021.Overall, total imports indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +X% over the last nine years. the trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period.Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

China (X tons), Indonesia (X tons) and Malaysia (X tons) were the main suppliers of confectionery imports to the Philippines, with a combined X% share of total imports. Singapore, vietnam, the united states, australia, germany, thailand, india, switzerland, spain and italy lagged somewhat behind, together comprising a further X 2012 to 2021, the biggest increases were in India (with a CAGR of +X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest confectionery suppliers to the Philippines were Malaysia ($X), Indonesia ($X) and China ($X), with a combined X% share of total imports. These countries were followed by Singapore, the United States, Australia, Vietnam, India, Italy, Switzerland, Spain, Germany and Thailand, which together accounted for a further X, 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 2021, the average confectionery import price amounted to $X per ton, with an increase of X% against the previous year. In general, the import price showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 an increase of X% against the previous year. The import price peaked in 2021 and is likely to continue growth in years to come.

Prices varied noticeably country of origin: the country with the highest price was Italy ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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