Philippines: Market for Chocolate Bars with Cereals, Fruit or Nuts 2025

Market Size for Chocolate Bars with Cereals, Fruit or Nuts in the Philippines

The Philippine market for chocolate bars with cereals, fruit or nuts rose modestly to $X in 2022, picking up by 3.1% against the previous year. Overall, the total consumption indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +40.3% against 2018 indices. Over the period under review, the market reached the maximum level in 2022 and is likely to see steady growth in years to come.

Production of Chocolate Bars with Cereals, Fruit or Nuts in the Philippines

In value terms, production of chocolate bars with cereals, fruit or nuts expanded slightly to $X in 2022 estimated in export price. In general, the total production indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -1.9% against 2020 indices. The growth pace was the most rapid in 2019 with an increase of 37%. Over the period under review, production of reached the maximum level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Exports of Chocolate Bars with Cereals, Fruit or Nuts

Exports from the Philippines

In 2022, the amount of chocolate bars with cereals, fruit or nuts exported from the Philippines declined sharply to X tons, waning by -15.2% compared with 2021. In general, exports recorded a abrupt descent. The pace of growth appeared the most rapid in 2013 when exports increased by 176% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports of remained at a lower figure.

In value terms, exports of chocolate bars with cereals, fruit or nuts rose to $X in 2022. Overall, exports showed a pronounced shrinkage. The growth pace was the most rapid in 2013 when exports increased by 200%. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports of remained at a somewhat lower figure.

Exports by Country

China (X tons) was the main destination for exports of chocolate bars with cereals, fruit or nuts from the Philippines, with a 80% share of total exports. Moreover, exports of chocolate bars with cereals, fruit or nuts to China exceeded the volume sent to the second major destination, Macao SAR (X tons), more than tenfold. Vietnam (X tons) ranked third in terms of total exports with a 3.1% share.

From 2012 to 2022, the average annual growth rate of volume to China totaled +34.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Macao SAR (+80.8% per year) and Vietnam (+59.9% per year).

In value terms, China ($X) remains the key foreign market for chocolate bars with cereals, fruit or nuts exports from the Philippines, comprising 69% of total exports. The second position in the ranking was taken by the Netherlands ($X), with an 8.2% share of total exports. It was followed by Macao SAR, with a 5.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value to China totaled +38.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+38.5% per year) and Macao SAR (+80.7% per year).

Export Prices by Country

In 2022, the average export price for chocolate bars with cereals, fruit or nuts amounted to $X per ton, surging by 20% against the previous year. Over the last decade, it increased at an average annual rate of +3.0%. The pace of growth appeared the most rapid in 2016 an increase of 22%. The export price peaked in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Macao SAR ($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 the Netherlands (+20.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Chocolate Bars with Cereals, Fruit or Nuts

Imports into the Philippines

For the third consecutive year, the Philippines recorded growth in overseas purchases of chocolate bars with cereals, fruit or nuts, which increased by 28% to X tons in 2022. Over the period under review, imports continue to indicate a significant increase. The pace of growth was the most pronounced in 2016 when imports increased by 395% against the previous year. As a result, imports reached the peak of X tons. From 2017 to 2022, the growth of imports of remained at a somewhat lower figure.

In value terms, imports of chocolate bars with cereals, fruit or nuts skyrocketed to $X in 2022. In general, imports posted significant growth. The growth pace was the most rapid in 2016 when imports increased by 355% against the previous year. As a result, imports attained the peak of $X. From 2017 to 2022, the growth of imports of remained at a somewhat lower figure.

Imports by Country

In 2022, Malaysia (X tons) constituted the largest cereal, fruit or nut chocolate bar supplier to the Philippines, with a 43% share of total imports. Moreover, imports of chocolate bars with cereals, fruit or nuts from Malaysia exceeded the figures recorded by the second-largest supplier, Switzerland (X tons), twofold. India (X tons) ranked third in terms of total imports with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Malaysia amounted to +27.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Switzerland (+30.6% per year) and India (+40.2% per year).

In value terms, Malaysia ($X) constituted the largest supplier of chocolate bars with cereals, fruit or nuts to the Philippines, comprising 54% of total imports. The second position in the ranking was taken by Switzerland ($X), with a 19% share of total imports. It was followed by India, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Malaysia amounted to +42.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Switzerland (+39.0% per year) and India (+46.2% per year).

Import Prices by Country

The average import price for chocolate bars with cereals, fruit or nuts stood at $X per ton in 2022, surging by 7.2% against the previous year. Overall, import price indicated a prominent expansion from 2012 to 2022: its price increased at an average annual rate of +9.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for chocolate bars with cereals, fruit or nuts increased by +74.5% against 2017 indices. The most prominent rate of growth was recorded in 2015 when the average import price increased by 38% against the previous year. The import price peaked in 2022 and is likely to continue growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+11.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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