Philippines: Dairy Produce Market 2024

Dairy Produce Market Size in the Philippines

The Philippine dairy produce market skyrocketed to $X in 2022, rising by X% against the previous year. Over the period under review, the total consumption indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2019 indices. Over the period under review, the market reached the peak level in 2022 and is likely to continue growth in years to come.

Dairy Produce Production in the Philippines

In value terms, dairy produce production rose to $X in 2022 estimated in export price. In general, production, however, recorded a perceptible downturn. The most prominent rate of growth was recorded in 2014 with an increase of X%. Over the period under review, production hit record highs at $X in 2015; however, from 2016 to 2022, production stood at a somewhat lower figure.

Dairy Produce Exports

Exports from the Philippines

In 2022, approx. X tons of dairy produce were exported from the Philippines; declining by X% on 2021 figures. Over the period under review, exports recorded a abrupt slump. The pace of growth appeared the most rapid in 2015 when exports increased by X%. The exports peaked at X tons in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, dairy produce exports totaled $X in 2022. Overall, exports showed a deep setback. The pace of growth appeared the most rapid in 2015 with an increase of X% against the previous year. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

Exports by Country

Malaysia (X tons), Vietnam (X tons) and Bangladesh (X tons) were the main destinations of dairy produce exports from the Philippines, with a combined X% share of total exports. The United Arab Emirates, Canada, Indonesia, Thailand, the United States, Singapore and Taiwan (Chinese) lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Canada (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X) remains the key foreign market for dairy produce exports from the Philippines, comprising X% of total exports. The second position in the ranking was held by Vietnam ($X), with a X% share of total exports. It was followed by Bangladesh, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Malaysia totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (X% per year) and Bangladesh (X% per year).

Export Prices by Country

The average dairy produce export price stood at $X per ton in 2022, jumping by X% against the previous year. In general, the export price posted modest growth. The growth pace was the most rapid in 2018 when the average export price increased by X% against the previous year. Over the period under review, the average export prices attained the peak figure in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Malaysia ($X per ton), while the average price for exports to the United Arab Emirates ($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 Canada (X%), while the prices for the other major destinations experienced more modest paces of growth.

Dairy Produce Imports

Imports into the Philippines

After two years of decline, overseas purchases of dairy produce increased by X% to X tons in 2022. In general, total imports indicated a resilient expansion from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 with an increase of X%. Imports peaked in 2022 and are likely to see steady growth in years to come.

In value terms, dairy produce imports surged to $X in 2022. Overall, total imports indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2015 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

The United States (X tons), New Zealand (X tons) and Germany (X tons) were the main suppliers of dairy produce imports to the Philippines, together accounting for X% of total imports. Australia, Belgium, Poland, Ireland, Denmark, the Netherlands, Bangladesh, France, Thailand and Malaysia lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Bangladesh (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), New Zealand ($X) and Belgium ($X) constituted the largest dairy produce suppliers to the Philippines, with a combined X% share of total imports. Australia, Germany, Ireland, Poland, Denmark, the Netherlands, France, Thailand, Malaysia and Bangladesh lagged somewhat behind, together accounting for a further X%.

Among the main suppliers, Bangladesh, with a CAGR of X%, recorded the highest growth rate of the value of imports, 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 dairy produce import price amounted to $X per ton, with an increase of X% against the previous year. Overall, import price indicated a mild increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, dairy produce import price increased by X% against 2016 indices. The most prominent rate of growth was recorded in 2017 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, 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 the United States ($X per ton), while the price for Bangladesh ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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