Philippines: Frozen Whole Fish Market 2025

Frozen Whole Fish Market Size in the Philippines

After three years of decline, the Philippine frozen whole fish market increased by 56% to $X in 2021. Overall, consumption enjoyed a resilient expansion. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Frozen Whole Fish Production in the Philippines

In value terms, frozen whole fish production surged to $X in 2021 estimated in export price. Over the period under review, production, however, showed a deep reduction. Frozen whole fish production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Frozen Whole Fish Exports

Exports from the Philippines

In 2021, after two years of growth, there was significant decline in shipments abroad of frozen whole fish, when their volume decreased by -68.7% to X tons. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 82% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2020, and then shrank remarkably in the following year.

In value terms, frozen whole fish exports fell significantly to $X in 2021. In general, exports showed a abrupt decrease. The pace of growth was the most pronounced in 2017 when exports increased by 71% against the previous year. Over the period under review, the exports reached the maximum at $X in 2020, and then declined rapidly in the following year.

Exports by Country

The United States (X tons) was the main destination for frozen whole fish exports from the Philippines, accounting for a 46% share of total exports. Moreover, frozen whole fish exports to the United States exceeded the volume sent to the second major destination, Thailand (X tons), threefold. Japan (X tons) ranked third in terms of total exports with a 9.7% share.

From 2012 to 2021, the average annual growth rate of volume to the United States amounted to +7.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (+23.5% per year) and Japan (-1.4% per year).

In value terms, the United States ($X) remains the key foreign market for frozen whole fish exports from the Philippines, comprising 49% of total exports. The second position in the ranking was held by Thailand ($X), with a 12% share of total exports. It was followed by Japan, with an 8% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States amounted to -6.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (+20.4% per year) and Japan (-11.0% per year).

Export Prices by Country

In 2021, the average frozen whole fish export price amounted to $X per ton, with an increase of 30% against the previous year. In general, the export price, however, recorded a abrupt curtailment. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, 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 Canada ($X per ton), while the average price for exports to Spain ($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 China (+3.0%), while the prices for the other major destinations experienced a decline.

Frozen Whole Fish Imports

Imports into the Philippines

In 2021, after three years of decline, there was growth in purchases abroad of frozen whole fish, when their volume increased by 3.4% to X tons. In general, total imports indicated a mild expansion from 2012 to 2021: its volume increased at an average annual rate of +1.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -39.0% against 2017 indices. The pace of growth was the most pronounced in 2015 with an increase of 33% against the previous year. Over the period under review, imports hit record highs at X tons in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, frozen whole fish imports skyrocketed to $X in 2021. Overall, imports showed a remarkable increase. The pace of growth appeared the most rapid in 2015 with an increase of 57%. Imports peaked in 2021 and are likely to see gradual growth in the near future.

Imports by Country

Papua New Guinea (X tons), China (X tons) and Vietnam (X tons) were the main suppliers of frozen whole fish imports to the Philippines, together accounting for 63% of total imports. Taiwan (Chinese), Nauru, Japan and South Korea lagged somewhat behind, together accounting for a further 21%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Nauru (with a CAGR of +183.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Papua New Guinea ($X), China ($X) and Vietnam ($X) appeared to be the largest frozen whole fish suppliers to the Philippines, with a combined 64% share of total imports. Taiwan (Chinese), Nauru, Japan and South Korea lagged somewhat behind, together comprising a further 17%.

Among the main suppliers, Nauru, with a CAGR of +172.7%, recorded the highest growth rate of 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

The average frozen whole fish import price stood at $X per ton in 2021, jumping by 18% against the previous year. Overall, the import price saw a prominent expansion. The pace of growth appeared the most rapid in 2019 an increase of 45%. Over the period under review, average import prices reached the maximum in 2021 and is likely to see steady growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($X per ton), while the price for Nauru ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+21.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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