Philippines: Coffee Extract Market 2024

Coffee Extract Market Size in the Philippines

The Philippine coffee extract market expanded remarkably to $X in 2021, picking up by 8.2% 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). Overall, consumption continues to indicate a buoyant expansion. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Coffee Extract Exports

Exports from the Philippines

In 2021, overseas shipments of coffee extracts, essences and concentrates increased by 121% to X tons, rising for the third year in a row after two years of decline. Overall, exports continue to indicate a significant expansion. The growth pace was the most rapid in 2014 when exports increased by 511% against the previous year. The exports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, coffee extract exports surged to $X in 2021. Over the period under review, exports continue to indicate significant growth. The pace of growth was the most pronounced in 2014 when exports increased by 326% against the previous year. The exports peaked in 2021 and are expected to retain growth in the near future.

Exports by Country

Hong Kong SAR (X tons) was the main destination for coffee extract exports from the Philippines, accounting for a 67% share of total exports. Moreover, coffee extract exports to Hong Kong SAR exceeded the volume sent to the second major destination, Nigeria (X tons), fivefold. The third position in this ranking was held by the United Arab Emirates (X tons), with a 3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Hong Kong SAR amounted to +71.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nigeria (+48.3% per year) and the United Arab Emirates (+9.8% per year).

In value terms, Hong Kong SAR ($X) remains the key foreign market for coffee extracts, essences and concentrates exports from the Philippines, comprising 55% of total exports. The second position in the ranking was taken by Canada ($X), with a 6.6% share of total exports. It was followed by Nigeria, with a 5.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Hong Kong SAR amounted to +70.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (+58.6% per year) and Nigeria (+27.3% per year).

Export Prices by Country

The average coffee extract export price stood at $X per ton in 2021, increasing by 3.9% against the previous year. In general, the export price, however, showed a drastic downturn. The most prominent rate of growth was recorded in 2017 an increase of 37% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Canada ($X per ton), while the average price for exports to Nigeria ($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 Canada (+13.5%), while the prices for the other major destinations experienced more modest paces of growth.

Coffee Extract Imports

Imports into the Philippines

In 2021, the amount of coffee extracts, essences and concentrates imported into the Philippines expanded sharply to X tons, surging by 5.4% against the year before. Over the period under review, imports enjoyed strong growth. The pace of growth was the most pronounced in 2016 when imports increased by 88%. Over the period under review, imports attained the maximum at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, coffee extract imports rose remarkably to $X in 2021. In general, imports continue to indicate buoyant growth. The most prominent rate of growth was recorded in 2014 with an increase of 53% against the previous year. Over the period under review, imports reached the peak figure at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Indonesia (X tons) constituted the largest coffee extract supplier to the Philippines, accounting for a 83% share of total imports. Moreover, coffee extract imports from Indonesia exceeded the figures recorded by the second-largest supplier, Vietnam (X tons), sixfold. Thailand (X tons) ranked third in terms of total imports with a 1.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Indonesia amounted to +9.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+84.2% per year) and Thailand (-14.3% per year).

In value terms, Indonesia ($X) constituted the largest supplier of coffee extracts, essences and concentrates to the Philippines, comprising 79% of total imports. The second position in the ranking was held by Vietnam ($X), with a 16% share of total imports. It was followed by Malaysia, with a 1.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Indonesia totaled +15.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+76.6% per year) and Malaysia (-11.1% per year).

Import Prices by Country

The average coffee extract import price stood at $X per ton in 2021, surging by 4.5% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +4.4%. The most prominent rate of growth was recorded in 2013 an increase of 27%. Over the period under review, average import prices reached the maximum in 2021 and is likely to see gradual growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Malaysia ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+6.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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