Philippines: Breakfast Cereal Market 2022

Breakfast Cereal Market Size in the Philippines

The Philippine breakfast cereal market expanded remarkably to $X in 2021, increasing by X% against the previous year. In general, consumption saw a remarkable increase. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Breakfast Cereal Production in the Philippines

In value terms, breakfast cereal production expanded significantly to $X in 2021 estimated in export price. In general, production recorded a strong expansion. The growth pace was the most rapid in 2016 with an increase of X%. As a result, production attained the peak level of $X. From 2017 to 2021, production growth remained at a somewhat lower figure.

Breakfast Cereal Exports

Exports from the Philippines

In 2021, overseas shipments of breakfast cereals increased by X% to X tons for the first time since 2018, thus ending a two-year declining trend. Overall, exports, however, showed a pronounced decline. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, breakfast cereal exports surged to $X in 2021. In general, exports, however, showed a pronounced slump. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Malaysia (X tons) was the main destination for breakfast cereal exports from the Philippines, with a X% share of total exports. Moreover, breakfast cereal exports to Malaysia exceeded the volume sent to the second major destination, Thailand (X tons), twofold. The third position in this ranking was taken by China (X tons), with an X% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Malaysia amounted to -X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (-X% per year) and China (+X% per year).

In value terms, Malaysia ($X) remains the key foreign market for breakfast cereal exports from the Philippines, comprising X% of total exports. The second position in the ranking was taken by Thailand ($X), with an X% share of total exports. It was followed by China, with a X% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Malaysia stood at -X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (-X% per year) and China (+X% per year).

Export Prices by Country

In 2021, the average breakfast cereal export price amounted to $X per ton, declining by -X% against the previous year. Overall, the export price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 an increase of X%. Over the period under review, the average export prices hit record highs at $X per ton in 2016; however, from 2017 to 2021, the export prices remained at a lower figure.

Average prices varied somewhat for the major export markets. In 2021, the highest price was recorded for prices to Canada ($X per ton) and Saudi Arabia ($X per ton), while the average price for exports to Qatar ($X per ton) and Japan ($X per ton) were amongst the lowest.

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

Breakfast Cereal Imports

Imports into the Philippines

In 2021, breakfast cereal imports into the Philippines expanded sharply to X tons, with an increase of X% compared with the previous year. In general, imports saw significant growth. The most prominent rate of growth was recorded in 2017 when imports increased by X%. Imports peaked in 2021 and are expected to retain growth in years to come.

In value terms, breakfast cereal imports rose significantly to $X in 2021. Over the period under review, imports enjoyed a significant increase. The growth pace was the most rapid in 2017 when imports increased by X%. Imports peaked at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Indonesia (X tons) constituted the largest breakfast cereal supplier to the Philippines, with a X% share of total imports. Moreover, breakfast cereal imports from Indonesia exceeded the figures recorded by the second-largest supplier, Thailand (X tons), threefold. Malaysia (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Indonesia amounted to +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+X% per year) and Malaysia (+X% per year).

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

From 2012 to 2021, 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 breakfast cereal import price stood at $X per ton in 2021, waning by -X% against the previous year. Overall, the import price showed a pronounced contraction. The most prominent rate of growth was recorded in 2013 when the average import price increased by X%. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was India ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (-X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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