Philippines: Sweet Biscuit Market 2024

Sweet Biscuit Market Size in the Philippines

The Philippine sweet biscuit market rose rapidly to $X in 2022, surging by X% against the previous year. Overall, the total consumption indicated pronounced growth from 2012 to 2022: its value 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, consumption increased by X% against 2019 indices. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market remained at a lower figure.

Sweet Biscuit Production in the Philippines

In value terms, sweet biscuit production totaled $X in 2022 estimated in export price. In general, the total production indicated a mild expansion from 2012 to 2022: its value 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, production increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2017 with an increase of X%. As a result, production attained the peak level of $X. From 2018 to 2022, production growth remained at a somewhat lower figure.

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Sweet Biscuit Exports

Exports from the Philippines

In 2022, shipments abroad of sweet biscuits increased by X% to X tons, rising for the second consecutive year after three years of decline. Overall, exports, however, recorded a perceptible decrease. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. As a result, the exports reached the peak of X tons. From 2018 to 2022, the growth of the exports remained at a lower figure.

In value terms, sweet biscuit exports skyrocketed to $X in 2022. Over the period under review, exports, however, showed a mild descent. The most prominent rate of growth was recorded in 2017 with an increase of X%. As a result, the exports reached the peak of $X. From 2018 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Malaysia (X tons) was the main destination for sweet biscuit exports from the Philippines, with a X% share of total exports. Moreover, sweet biscuit exports to Malaysia exceeded the volume sent to the second major destination, the United Arab Emirates (X tons), twofold. The third position in this ranking was taken by the United States (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Malaysia stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (X% per year) and the United States (X% per year).

In value terms, the largest markets for sweet biscuit exported from the Philippines were Malaysia ($X), the United States ($X) and the United Arab Emirates ($X), together comprising X% of total exports.

Among the main countries of destination, Malaysia, 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 2022, the average sweet biscuit export price amounted to $X per ton, increasing by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, 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 2022, 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.

Sweet Biscuit Imports

Imports into the Philippines

In 2022, approx. X tons of sweet biscuits were imported into the Philippines; rising by X% compared with 2021. Overall, imports recorded a significant increase. The growth pace was the most rapid in 2017 with an increase of X%. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the near future.

In value terms, sweet biscuit imports skyrocketed to $X in 2022. In general, imports enjoyed significant growth. The pace of growth was the most pronounced in 2017 with an increase of X%. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, Indonesia (X tons) constituted the largest supplier of sweet biscuit to the Philippines, with a X% share of total imports. Moreover, sweet biscuit imports from Indonesia exceeded the figures recorded by the second-largest supplier, Thailand (X tons), fivefold. The United States (X tons) ranked third in terms of total imports with a X% share.

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

In value terms, Indonesia ($X) constituted the largest supplier of sweet biscuits to the Philippines, comprising X% of total imports. The second position in the ranking was held by Thailand ($X), with a X% share of total imports. It was followed by Malaysia, with a X% share.

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

Import Prices by Country

The average sweet biscuit import price stood at $X per ton in 2022, surging by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2015 an increase of X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2016 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Singapore ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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