Report Update Nov 1, 2024

Philippines - Frozen Cuttlefishes - Market Analysis, Forecast, Size, Trends and Insights

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Philippines: Frozen Cuttlefishes Market 2024

Frozen Cuttlefishes Market Size in the Philippines

The Philippine frozen cuttlefishes market totaled $X in 2021, increasing by 7.1% 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). In general, consumption showed a strong expansion. Over the period under review, the market reached the peak level at $X in 2016; however, from 2017 to 2021, consumption remained at a lower figure.

Frozen Cuttlefishes Exports

Exports from the Philippines

In 2021, shipments abroad of frozen cuttlefishes decreased by -1.9% to X tons for the first time since 2018, thus ending a two-year rising trend. In general, exports recorded a pronounced decrease. The pace of growth was the most pronounced in 2016 with an increase of 39%. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, frozen cuttlefishes exports rose modestly to $X in 2021. Over the period under review, exports recorded a mild setback. The most prominent rate of growth was recorded in 2016 with an increase of 45%. The exports peaked at $X in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

China (X tons), Australia (X tons) and Japan (X tons) were the main destinations of frozen cuttlefishes exports from the Philippines, with a combined 97% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Australia (with a CAGR of +109.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Australia ($X) and Japan ($X) appeared to be the largest markets for frozen cuttlefishes exported from the Philippines worldwide, with a combined 95% share of total exports.

Australia, with a CAGR of +123.8%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average frozen cuttlefishes export price amounted to $X per ton, growing by 6% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.5%. The pace of growth was the most pronounced in 2015 when the average export price increased by 14% against the previous year. The export price peaked in 2021 and is likely to continue growth in the near future.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was the United States ($X per ton), while the average price for exports to China ($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 Taiwan (Chinese) (+20.5%), while the prices for the other major destinations experienced more modest paces of growth.

Frozen Cuttlefishes Imports

Imports into the Philippines

Frozen cuttlefishes imports into the Philippines was estimated at X tons in 2021, increasing by 3% against 2020. In general, imports saw prominent growth. The most prominent rate of growth was recorded in 2016 with an increase of 95% against the previous year. As a result, imports reached the peak of X tons. From 2017 to 2021, the growth of imports remained at a lower figure.

In value terms, frozen cuttlefishes imports expanded significantly to $X in 2021. Over the period under review, imports posted a tangible increase. The growth pace was the most rapid in 2014 with an increase of 95% against the previous year. Over the period under review, imports attained the peak figure at $X in 2016; however, from 2017 to 2021, imports remained at a lower figure.

Imports by Country

Vietnam (X tons), China (X tons) and South Korea (X tons) were the main suppliers of frozen cuttlefishes imports to the Philippines, together comprising 99% of total imports.

From 2012 to 2021, the biggest increases were recorded for Vietnam (with a CAGR of +186.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of frozen cuttlefishes to the Philippines, comprising 78% of total imports. The second position in the ranking was taken by Vietnam ($X), with a 19% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +6.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+130.6% per year) and South Korea (-5.4% per year).

Import Prices by Country

In 2021, the average frozen cuttlefishes import price amounted to $X per ton, picking up by 6.2% against the previous year. Overall, the import price, however, continues to indicate a deep setback. The most prominent rate of growth was recorded in 2013 when the average import price increased by 41%. Over the period under review, average import prices reached the maximum at $X per ton in 2015; however, from 2016 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was China ($X per ton), while the price for Vietnam ($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 (-4.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for frozen cuttlefishes in the world?

The countries with the highest volumes of frozen cuttlefishes consumption in 2020 were Peru, Indonesia and India, together accounting for 59% of global consumption. These countries were followed by Spain, Democratic People's Republic of Korea, New Zealand and Thailand, which together accounted for a further 25%.

What are the largest producers of frozen cuttlefishes in the world?

The countries with the highest volumes of frozen cuttlefishes production in 2020 were Peru, Indonesia and India, together comprising 63% of global production.

What are the leading suppliers of frozen cuttlefishes to the Philippines?

In value terms, South Korea constituted the largest supplier of frozen cuttlefishes to the Philippines, comprising 76% of total imports. The second position in the ranking was occupied by China, with a 21% share of total imports.

What are the leading importers of frozen cuttlefishes from the Philippines?

In value terms, China, Hong Kong SAR and the United Arab Emirates were the largest markets for frozen cuttlefishes exported from the Philippines worldwide, together comprising 98% of total exports.

What is the average export price for frozen cuttlefishes in the Philippines?

In 2020, the average frozen cuttlefishes export price amounted to $5,627 per ton, with an increase of 14% against the previous year.

What is the average import price for frozen cuttlefishes in the Philippines?

The average frozen cuttlefishes import price stood at $1,491 per ton in 2020, waning by -64.6% against the previous year.

This report provides an in-depth analysis of the frozen cuttlefishes market in the Philippines. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Country coverage:

Philippines

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in the Philippines
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

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This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
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While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023