Philippines: Market for Concentrated Lemon And Other Citrus Fruit Juice 2024

Market Size for Concentrated Lemon And Other Citrus Fruit Juice in the Philippines

In 2021, the Philippine market for concentrated lemon and other citrus fruit juice decreased by -35.4% to $X, falling for the third year in a row after two years of growth. Overall, consumption continues to indicate a slight contraction. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market failed to regain momentum.

Production of Concentrated Lemon And Other Citrus Fruit Juice in the Philippines

In value terms, production of concentrated lemon and other citrus fruit juice contracted modestly to $X in 2021 estimated in export price. Over the period under review, production, however, showed resilient growth. The growth pace was the most rapid in 2016 when the production volume increased by 31%. Production of peaked at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Exports of Concentrated Lemon And Other Citrus Fruit Juice

Exports from the Philippines

In 2021, approx. X tons of concentrated lemon and other citrus fruit juice were exported from the Philippines; jumping by 327% compared with the year before. Over the period under review, exports saw a buoyant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, exports of concentrated lemon and other citrus fruit juice soared to $X in 2021. In general, exports recorded a significant increase. The growth pace was the most rapid in 2016 with an increase of 325% against the previous year. The exports peaked in 2021 and are likely to see steady growth in the near future.

Exports by Country

China (X tons) was the main destination for exports of concentrated lemon and other citrus fruit juice from the Philippines, accounting for a 59% share of total exports. Moreover, exports of concentrated lemon and other citrus fruit juice to China exceeded the volume sent to the second major destination, the United States (X tons), fivefold. The third position in this ranking was held by Hong Kong SAR (X tons), with a 9.7% share.

From 2012 to 2021, the average annual growth rate of volume to China totaled +48.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+7.6% per year) and Hong Kong SAR (+66.5% per year).

In value terms, China ($X) emerged as the key foreign market for concentrated lemon and other citrus fruit juice exports from the Philippines, comprising 63% of total exports. The second position in the ranking was held by the United States ($X), with a 12% share of total exports. It was followed by Canada, with a 10% share.

From 2012 to 2021, the average annual growth rate of value to China totaled +58.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+12.7% per year) and Canada (+38.8% per year).

Export Prices by Country

In 2021, the average export price for concentrated lemon and other citrus fruit juice amounted to $X per ton, dropping by -12.2% against the previous year. Overall, the export price, however, continues to indicate prominent growth. The pace of growth appeared the most rapid in 2016 when the average export price increased by 41%. Over the period under review, the average export prices hit record highs at $X per ton in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Hong Kong SAR ($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 the United Arab Emirates (+41.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Concentrated Lemon And Other Citrus Fruit Juice

Imports into the Philippines

After two years of growth, supplies from abroad of concentrated lemon and other citrus fruit juice decreased by -55% to X tons in 2021. Overall, imports, however, continue to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2013 when imports increased by 176% against the previous year. Over the period under review, imports of reached the maximum at X tons in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, imports of concentrated lemon and other citrus fruit juice dropped sharply to $X in 2021. Over the period under review, imports, however, showed a resilient increase. The pace of growth appeared the most rapid in 2013 with an increase of 305% against the previous year. Over the period under review, imports of reached the maximum at $X in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, South Korea (X tons) constituted the largest concentrated lemon and other citrus fruit juice supplier to the Philippines, with a 56% share of total imports. Moreover, imports of concentrated lemon and other citrus fruit juice from South Korea exceeded the figures recorded by the second-largest supplier, the United States (X tons), threefold. The UK (X tons) ranked third in terms of total imports with a 9.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from South Korea totaled +15.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-6.6% per year) and the UK (-19.8% per year).

In value terms, the largest concentrated lemon and other citrus fruit juice suppliers to the Philippines were the United States ($X), South Korea ($X) and the UK ($X), with a combined 85% share of total imports.

South Korea, with a CAGR of +35.6%, recorded the highest rates of growth with regard to 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

The average import price for concentrated lemon and other citrus fruit juice stood at $X per ton in 2021, jumping by 48% against the previous year. Over the period under review, import price indicated notable growth from 2012 to 2021: its price increased at an average annual rate of +4.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+19.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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