Report Update May 1, 2025

Philippines - Ghee - Market Analysis, Forecast, Size, Trends and Insights

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Philippines: Ghee Market 2025

Ghee Market Size in the Philippines

The Philippine ghee market contracted to $X in 2022, which is down by -12.6% 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). Over the period under review, consumption, however, continues to indicate a prominent increase. Ghee consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Ghee Exports

Exports from the Philippines

Ghee exports from the Philippines surged to X tons in 2022, increasing by 22% on 2021 figures. Overall, exports posted a significant expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 4,667%. Over the period under review, the exports reached the maximum in 2022 and are likely to see steady growth in the immediate term.

In value terms, ghee exports surged to $X in 2022. Over the period under review, exports showed significant growth. The most prominent rate of growth was recorded in 2021 when exports increased by 5,081% against the previous year. The exports peaked in 2022 and are likely to continue growth in the immediate term.

Exports by Country

Indonesia (X tons) was the main destination for ghee exports from the Philippines, with a 93% share of total exports. Moreover, ghee exports to Indonesia exceeded the volume sent to the second major destination, the United States (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to Indonesia stood at +45.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-5.1% per year) and Australia (+23.0% per year).

In value terms, Indonesia ($X) emerged as the key foreign market for ghee exports from the Philippines, comprising 96% of total exports. The second position in the ranking was taken by Australia ($X), with a 2.5% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Indonesia stood at +54.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (+31.8% per year) and the United States (-1.1% per year).

Export Prices by Country

In 2022, the average ghee export price amounted to $X per ton, with an increase of 24% against the previous year. Overall, the export price posted prominent growth. The growth pace was the most rapid in 2017 when the average export price increased by 247%. Over the period under review, the average export prices hit record highs in 2022 and is likely to see gradual growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Australia ($X per ton), while the average price for exports to the United States ($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 Vietnam (+11.2%), while the prices for the other major destinations experienced more modest paces of growth.

Ghee Imports

Imports into the Philippines

In 2022, purchases abroad of ghee decreased by -26.5% to X tons, falling for the fifth consecutive year after three years of growth. In general, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when imports increased by 56% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, ghee imports fell modestly to $X in 2022. Over the period under review, imports, however, enjoyed buoyant growth. The most prominent rate of growth was recorded in 2017 when imports increased by 71%. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, New Zealand (X tons) was the main ghee supplier to the Philippines, accounting for a approx. 95% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from New Zealand amounted to +1.3%.

In value terms, New Zealand ($X) constituted the largest supplier of ghee to the Philippines.

From 2012 to 2022, the average annual growth rate of value from New Zealand amounted to +10.0%.

Import Prices by Country

In 2022, the average ghee import price amounted to $X per ton, increasing by 30% against the previous year. Over the period under review, import price indicated strong growth from 2012 to 2022: its price increased at an average annual rate of +8.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, ghee import price increased by +41.4% against 2020 indices. The most prominent rate of growth was recorded in 2017 an increase of 56% against the previous year. The import price peaked in 2022 and is likely to see steady growth in the immediate term.

As there is only one major supplying country, the average price level is determined by prices for New Zealand.

From 2012 to 2022, the rate of growth in terms of prices for New Zealand amounted to +8.6% per year.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for ghee in the world?

India constituted the country with the largest volume of ghee consumption, comprising approx. 78% of total volume. Moreover, ghee consumption in India exceeded the figures recorded by the second-largest consumer, Pakistan, sevenfold.

What are the largest producers of ghee in the world?

The country with the largest volume of ghee production was India, comprising approx. 78% of total volume. Moreover, ghee production in India exceeded the figures recorded by the second-largest producer, Pakistan, sevenfold. The third position in this ranking was occupied by New Zealand, with a 5.4% share.

What are the leading suppliers of ghee to the Philippines?

In value terms, New Zealand constituted the largest supplier of ghee to the Philippines, comprising 90% of total imports. The second position in the ranking was occupied by Australia, with a 3.9% share of total imports.

What are the leading importers of ghee from the Philippines?

It was followed by Qatar, with a 0.7% share.

What is the average export price for ghee in the Philippines?

In 2021, the average ghee export price amounted to $5,335 per ton, growing by 11% against the previous year.

What is the average import price for ghee in the Philippines?

In 2021, the average ghee import price amounted to $5,746 per ton, increasing by 8.6% against the previous year.

This report provides an in-depth analysis of the ghee 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:

FCL 887 - Ghee from Cow Milk
FCL 953 - Ghee, from Buffalo Milk

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:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

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
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

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. COUNTRIES WITH TOP YIELDS
4. TOP EXPORTING COUNTRIES
5. 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, PRODUCING ANIMALS AND YIELD
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2024
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2024
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 2024
2. Market Volume, In Physical Terms, 2012–2024
3. Market Value, 2012–2024
4. Per Capita Consumption In 2012-2024
5. Imports, In Physical Terms, By Country, 2012–2024
6. Imports, In Value Terms, By Country, 2012–2024
7. Import Prices, By Country Of Origin, 2012–2024
8. Exports, In Physical Terms, By Country, 2012–2024
9. Exports, In Value Terms, By Country, 2012–2024
10. Export Prices, By Country Of Destination, 2012–2024
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2024
2. Market Value, 2012–2024
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2024
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2024
5. Trade Balance, In Physical Terms, 2012-2024
6. Trade Balance, In Value Terms, 2012-2024
7. Per Capita Consumption, 2012-2024
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. Yield And Growth
16. Exports And Growth
17. Export Prices And Growth
18. Market Size And Growth
19. Per Capita Consumption
20. Imports And Growth
21. Import Prices
22. Production, In Physical Terms, 2012–2024
23. Production, In Value Terms, 2012–2024
24. Producing Animals Slaughtered, 2012–2024
25. Yield, 2012–2024
26. Imports, In Physical Terms, 2012–2024
27. Imports, In Value Terms, 2012–2024
28. Imports, In Physical Terms, By Country, 2024
29. Imports, In Physical Terms, By Country, 2012–2024
30. Imports, In Value Terms, By Country, 2012–2024
31. Import Prices, By Country Of Origin, 2012–2024
32. Exports, In Physical Terms, 2012–2024
33. Exports, In Value Terms, 2012–2024
34. Exports, In Physical Terms, By Country, 2024
35. Exports, In Physical Terms, By Country, 2012–2024
36. Exports, In Value Terms, By Country, 2012–2024
37. Export Prices, By Country Of Destination, 2012–2024