Philippines: Animal Feed Market 2024

Animal Feed Market Size in the Philippines

The Philippine animal feed market dropped to $X in 2022, with a decrease of -9.7% against the previous year. In general, consumption, however, showed a resilient increase. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market remained at a lower figure.

Animal Feed Production in the Philippines

In value terms, animal feed production fell to $X in 2022 estimated in export price. Over the period under review, production, however, posted a prominent expansion. The growth pace was the most rapid in 2019 with an increase of 94% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2022, production growth remained at a somewhat lower figure.

Animal Feed Exports

Exports from the Philippines

In 2022, exports of animal and pet feed from the Philippines surged to X tons, with an increase of 94% compared with 2021 figures. Overall, exports enjoyed a prominent increase. The pace of growth appeared the most rapid in 2013 when exports increased by 153% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, animal feed exports soared to $X in 2022. Over the period under review, exports saw a prominent increase. The growth pace was the most rapid in 2013 with an increase of 211%. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Vietnam (X tons) was the main destination for animal feed exports from the Philippines, accounting for a 32% share of total exports. Moreover, animal feed exports to Vietnam exceeded the volume sent to the second major destination, Bangladesh (X tons), twofold. The third position in this ranking was taken by Northern Mariana Islands (X tons), with a 13% share.

From 2012 to 2022, the average annual growth rate of volume to Vietnam stood at +35.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bangladesh (+230.0% per year) and Northern Mariana Islands (+2.5% per year).

In value terms, the largest markets for animal feed exported from the Philippines were Vietnam ($X), Bangladesh ($X) and Northern Mariana Islands ($X), together comprising 68% of total exports.

Bangladesh, with a CAGR of +259.0%, saw the highest rates of growth with regard to 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 animal feed export price stood at $X per ton in 2022, increasing by 9.5% against the previous year. Overall, export price indicated a pronounced expansion from 2012 to 2022: its price increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, animal feed export price decreased by -8.0% against 2019 indices. The most prominent rate of growth was recorded in 2019 an increase of 77% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2020 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Bangladesh ($X per ton), while the average price for exports to Timor-Leste ($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 Japan (+9.3%), while the prices for the other major destinations experienced more modest paces of growth.

Animal Feed Imports

Imports into the Philippines

In 2022, the amount of animal and pet feed imported into the Philippines amounted to X tons, increasing by 14% on the previous year's figure. Overall, total imports indicated a moderate increase from 2012 to 2022: its volume increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by +0.9% against 2019 indices. The most prominent rate of growth was recorded in 2017 with an increase of 39%. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the immediate term.

In value terms, animal feed imports surged to $X in 2022. In general, total imports indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +38.0% against 2020 indices. The most prominent rate of growth was recorded in 2017 with an increase of 35% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

China (X tons), Vietnam (X tons) and the United States (X tons) were the main suppliers of animal feed imports to the Philippines, with a combined 69% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of +34.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest animal feed suppliers to the Philippines were China ($X), the United States ($X) and Vietnam ($X), with a combined 51% share of total imports.

Vietnam, with a CAGR of +39.1%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average animal feed import price stood at $X per ton in 2022, growing by 5.8% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.3%. The pace of growth appeared the most rapid in 2021 when the average import price increased by 9.1%. Over the period under review, average import prices attained the peak figure in 2022 and is expected to retain growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+23.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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