Philippines: Market for Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs 2025

Market Size for Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs in the Philippines

In 2021, the Philippine seafood meals and pellets market increased by 5% to $X, rising for the third consecutive year after four years of decline. Over the period under review, consumption, however, showed a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Production of Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs in the Philippines

In value terms, seafood meals and pellets production reduced markedly to $X in 2021 estimated in export price. Overall, production saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of 90% against the previous year. Over the period under review, production attained the peak level at $X in 2014; however, from 2015 to 2021, production remained at a lower figure.

Exports of Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs

Exports from the Philippines

In 2021, overseas shipments of flours, meals and pellets of fish or of crustaceans and molluscs increased by 3.3% to X tons, rising for the third year in a row after two years of decline. Overall, exports saw a resilient expansion. The pace of growth appeared the most rapid in 2014 with an increase of 364% against the previous year. Over the period under review, the exports attained the peak figure in 2021 and are likely to see gradual growth in the immediate term.

In value terms, seafood meals and pellets exports rose sharply to $X in 2021. Over the period under review, exports saw a significant increase. The pace of growth was the most pronounced in 2014 with an increase of 416% against the previous year. The exports peaked in 2021 and are expected to retain growth in the immediate term.

Exports by Country

Thailand (X tons) was the main destination for seafood meals and pellets exports from the Philippines, with a 49% share of total exports. Moreover, seafood meals and pellets exports to Thailand exceeded the volume sent to the second major destination, Japan (X tons), twofold. The third position in this ranking was taken by Indonesia (X tons), with a 9.8% share.

From 2012 to 2021, the average annual growth rate of volume to Thailand amounted to +131.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+4.8% per year) and Indonesia (+4.7% per year).

In value terms, Thailand ($X) emerged as the key foreign market for flours, meals and pellets of fish or of crustaceans and molluscs exports from the Philippines, comprising 52% of total exports. The second position in the ranking was held by Japan ($X), with a 19% share of total exports. It was followed by Indonesia, with a 9.8% share.

From 2012 to 2021, the average annual growth rate of value to Thailand amounted to +138.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+8.7% per year) and Indonesia (+30.2% per year).

Export Prices by Country

The average seafood meals and pellets export price stood at $X per ton in 2021, increasing by 5.8% against the previous year. In general, the export price saw a strong increase. The pace of growth was the most pronounced in 2013 an increase of 95%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2015; however, from 2016 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Taiwan (Chinese) ($X per ton), while the average price for exports to Vietnam ($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 Indonesia (+24.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs

Imports into the Philippines

After three years of decline, overseas purchases of flours, meals and pellets of fish or of crustaceans and molluscs increased by 116% to X tons in 2021. Over the period under review, imports recorded a buoyant increase. The pace of growth was the most pronounced in 2017 with an increase of 206% against the previous year. As a result, imports reached the peak of X tons. From 2018 to 2021, the growth of imports failed to regain momentum.

In value terms, seafood meals and pellets imports skyrocketed to $X in 2021. In general, imports continue to indicate a remarkable increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Malaysia (X tons) constituted the largest seafood meals and pellets supplier to the Philippines, accounting for a 47% share of total imports. Moreover, seafood meals and pellets imports from Malaysia exceeded the figures recorded by the second-largest supplier, South Korea (X tons), fivefold. The third position in this ranking was taken by Papua New Guinea (X tons), with a 7.3% share.

From 2012 to 2021, the average annual growth rate of volume from Malaysia amounted to +153.5%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+5.1% per year) and Papua New Guinea (+116.6% per year).

In value terms, Malaysia ($X) constituted the largest supplier of flours, meals and pellets of fish or of crustaceans and molluscs to the Philippines, comprising 38% of total imports. The second position in the ranking was held by South Korea ($X), with an 8.3% share of total imports. It was followed by Denmark, with an 8% share.

From 2012 to 2021, the average annual growth rate of value from Malaysia stood at +168.8%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+8.6% per year) and Denmark (-2.0% per year).

Import Prices by Country

In 2021, the average seafood meals and pellets import price amounted to $X per ton, falling by -6.9% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the average import price increased by 39% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Denmark ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Georgia (+8.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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