Philippines: Frozen Cuttlefishes Market 2025

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

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