Philippines: Artificial Guts Market 2024

Artificial Guts Market Size in the Philippines

The Philippine artificial guts market stood at $X in 2022, picking up by 5.4% against the previous year. The market value increased at an average annual rate of +1.5% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the maximum level at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Artificial Guts Production in the Philippines

In value terms, artificial guts production reached $X in 2022 estimated in export price. Over the period under review, production, however, saw a mild decline. The most prominent rate of growth was recorded in 2017 with an increase of 16% against the previous year. Artificial guts production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Artificial Guts Exports

Exports from the Philippines

In 2022, after two years of growth, there was significant decline in shipments abroad of artificial guts (sausage skins), when their volume decreased by -28.7% to X tons. In general, exports, however, saw a remarkable increase. The growth pace was the most rapid in 2016 when exports increased by 2,307%. Over the period under review, the exports attained the peak figure at X tons in 2021, and then declined sharply in the following year.

In value terms, artificial guts exports reduced dramatically to $X in 2022. Over the period under review, exports, however, posted buoyant growth. The growth pace was the most rapid in 2018 when exports increased by 1,920% against the previous year. The exports peaked at $X in 2021, and then reduced sharply in the following year.

Exports by Country

Thailand (X tons), Indonesia (X tons) and Japan (X tons) were the main destinations of artificial guts exports from the Philippines, together comprising 54% 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 Japan (with a CAGR of +120.7%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for artificial guts exported from the Philippines were Indonesia ($X), Thailand ($X) and Japan ($X), with a combined 63% share of total exports. Malaysia, China, South Korea, Taiwan (Chinese), Mexico, South Africa, India, the United States and Papua New Guinea lagged somewhat behind, together accounting for a further 32%.

Mexico, with a CAGR of +125.4%, recorded 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

In 2022, the average artificial guts export price amounted to $X per ton, with an increase of 18% against the previous year. Over the period under review, the export price recorded resilient growth. The most prominent rate of growth was recorded in 2015 an increase of 1,867%. The export price peaked in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Indonesia ($X per ton), while the average price for exports to the United States ($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 Papua New Guinea (+48.3%), while the prices for the other major destinations experienced more modest paces of growth.

Artificial Guts Imports

Imports into the Philippines

Artificial guts imports into the Philippines contracted slightly to X tons in 2022, leveling off at the previous year's figure. Overall, imports, however, posted a significant increase. The pace of growth appeared the most rapid in 2016 with an increase of 137%. As a result, imports reached the peak of X tons. From 2017 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, artificial guts imports expanded modestly to $X in 2022. Over the period under review, imports, however, continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2016 with an increase of 114%. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

Spain (X tons), the United States (X tons) and France (X tons) were the main suppliers of artificial guts imports to the Philippines, with a combined 79% share of total imports.

From 2012 to 2022, the biggest increases were recorded for France (with a CAGR of +149.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest artificial guts suppliers to the Philippines were Spain ($X), the United States ($X) and France ($X), together comprising 83% of total imports.

France, with a CAGR of +131.3%, recorded the highest growth rate of 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 2022, the average artificial guts import price amounted to $X per ton, growing by 2.8% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.7%. The growth pace was the most rapid in 2014 an increase of 46%. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Spain ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+6.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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