Philippines: Market for Fresh Or Chilled Salmonoids Fillets 2025

Market Size for Fresh Or Chilled Salmonoids Fillets in the Philippines

In 2022, the Philippine market for fresh or chilled salmonoids fillets decreased by 0% to less than $X for the first time since 2019, thus ending a two-year declining trend. Overall, consumption, however, saw a noticeable contraction. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Production of Fresh Or Chilled Salmonoids Fillets in the Philippines

In value terms, fresh or chilled salmonoids fillets production fell slightly to $X in 2022 estimated in export price. In general, production posted a notable increase. The most prominent rate of growth was recorded in 2013 when the production volume increased by 36% against the previous year. Over the period under review, production hit record highs at $X in 2016; however, from 2017 to 2022, production stood at a somewhat lower figure.

Exports of Fresh Or Chilled Salmonoids Fillets

Exports from the Philippines

In 2019, overseas shipments of fresh or chilled salmonoids fillets decreased by -99.1% to X kg, falling for the second year in a row after three years of growth. Over the period under review, exports, however, recorded a prominent increase. The growth pace was the most rapid in 2013 with an increase of 17,265%. The exports peaked at X tons in 2017; however, from 2018 to 2019, the exports stood at a somewhat lower figure.

In value terms, fresh or chilled salmonoids fillets exports reduced remarkably to $X in 2019. In general, exports, however, enjoyed a measured increase. The pace of growth appeared the most rapid in 2013 when exports increased by 8,798% against the previous year. The exports peaked at $X in 2017; however, from 2018 to 2019, the exports remained at a lower figure.

Exports by Country

Canada (X kg) was the main destination for fresh or chilled salmonoids fillets exports from the Philippines, with a 66% share of total exports. Moreover, fresh or chilled salmonoids fillets exports to Canada exceeded the volume sent to the second major destination, the United Arab Emirates (X kg), twofold.

From 2012 to 2019, the average annual growth rate of volume to Canada stood at +29.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+3.0% per year) and Guam (+8.3% per year).

In value terms, Canada ($X), the United Arab Emirates ($X) and Guam ($X) constituted the largest markets for fresh or chilled salmonoids fillets exported from the Philippines worldwide.

In terms of the main countries of destination, Canada, with a CAGR of +17.3%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average export price for fresh or chilled salmonoids fillets stood at $X per ton in 2019, growing by 25% against the previous year. Over the period under review, the export price, however, showed a abrupt decrease. The pace of growth appeared the most rapid in 2018 an increase of 49%. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2019, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2019, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Guam ($X per ton) was amongst the lowest.

From 2012 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to Taiwan (Chinese) (+73.0%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Fresh Or Chilled Salmonoids Fillets

Imports into the Philippines

In 2022, purchases abroad of fresh or chilled salmonoids fillets decreased by 0% to X kg, falling for the second consecutive year after two years of decline. In general, imports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 with an increase of 1,787%. As a result, imports reached the peak of X tons. From 2014 to 2022, the growth of imports remained at a lower figure.

In value terms, fresh or chilled salmonoids fillets imports totaled $X in 2022. Overall, imports continue to indicate a prominent expansion. The most prominent rate of growth was recorded in 2013 with an increase of 1,169% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Singapore (X kg) constituted the largest fresh or chilled salmonoids fillets supplier to the Philippines, with a 80% share of total imports. Moreover, fresh or chilled salmonoids fillets imports from Singapore exceeded the figures recorded by the second-largest supplier, Vietnam (X kg), fourfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Singapore totaled +33.8%.

In value terms, Singapore ($X) constituted the largest supplier of fresh or chilled salmonoids fillets to the Philippines, comprising 80% of total imports. The second position in the ranking was held by Vietnam ($X), with an 11% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Singapore stood at +26.2%.

Import Prices by Country

The average import price for fresh or chilled salmonoids fillets stood at $X per ton in 2022, leveling off at the previous year. In general, the import price enjoyed a resilient expansion. The pace of growth was the most pronounced in 2013 when the average import price decreased by -32.8% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

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 Singapore ($X per ton), while the price for Vietnam stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (-3.5%).

Source: IndexBox Platform

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