Philippines: Frozen Fish Market 2024

Frozen Fish Market Size in the Philippines

The Philippine frozen fish market surged to $X in 2022, with an increase of X% against the previous year. In general, consumption showed prominent growth. Frozen fish consumption peaked in 2022 and is expected to retain growth in the immediate term.

Frozen Fish Production in the Philippines

In value terms, frozen fish production fell to $X in 2022 estimated in export price. Overall, production showed a abrupt setback. The pace of growth appeared the most rapid in 2021 when the production volume increased by X%. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Frozen Fish Exports

Exports from the Philippines

Frozen fish exports from the Philippines was estimated at X tons in 2022, increasing by X% on the year before. Overall, exports posted notable growth. The pace of growth was the most pronounced in 2019 when exports increased by X%. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, frozen fish exports surged to $X in 2022. Over the period under review, exports enjoyed a modest increase. The pace of growth was the most pronounced in 2017 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum at $X in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X tons), Japan (X tons) and Vietnam (X tons) were the main destinations of frozen fish exports from the Philippines, with a combined X% share of total exports.

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

In value terms, Japan ($X), the United States ($X) and Vietnam ($X) were the largest markets for frozen fish exported from the Philippines worldwide, together comprising X% of total exports.

In terms of the main countries of destination, Vietnam, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average frozen fish export price stood at $X per ton in 2022, surging by X% against the previous year. Over the period under review, the export price, however, recorded a perceptible decrease. The pace of growth was the most pronounced in 2021 an increase of X% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to Vietnam ($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 Thailand (X%), while the prices for the other major destinations experienced more modest paces of growth.

Frozen Fish Imports

Imports into the Philippines

In 2022, purchases abroad of frozen fish increased by X% to X tons, rising for the second consecutive year after three years of decline. Overall, total imports indicated a temperate increase 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. Based on 2022 figures, imports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2017 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons. From 2018 to 2022, the growth of imports failed to regain momentum.

In value terms, frozen fish imports skyrocketed to $X in 2022. In general, imports recorded a resilient increase. The pace of growth appeared the most rapid in 2015 when imports increased by X% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

China (X tons), Papua New Guinea (X tons) and Vietnam (X tons) were the main suppliers of frozen fish imports to the Philippines, with a combined X% share of total imports. Taiwan (Chinese), Micronesia, Nauru, South Korea, Japan, Kiribati and the UK lagged somewhat behind, together comprising a further X%.

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

In value terms, the largest frozen fish suppliers to the Philippines were China ($X), Papua New Guinea ($X) and Vietnam ($X), together comprising X% of total imports. Taiwan (Chinese), Micronesia, South Korea, Nauru, Japan, Kiribati and the UK lagged somewhat behind, together comprising a further X%.

In terms of the main suppliers, Nauru, with a CAGR of X%, saw the highest rates of growth with regard to 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 frozen fish import price amounted to $X per ton, surging by X% against the previous year. In general, the import price recorded buoyant growth. The most prominent rate of growth was recorded in 2019 when the average import price increased by X% against the previous year. The import price peaked in 2022 and is likely to continue growth in the immediate term.

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 Vietnam ($X per ton), while the price for the UK ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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