Philippines: Inactive Yeast Market 2024

Inactive Yeast Market Size in the Philippines

In 2021, the Philippine inactive yeast market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. In general, consumption continues to indicate a perceptible increase. As a result, consumption attained the peak level of $X. From 2015 to 2021, the growth of the market failed to regain momentum.

Inactive Yeast Production in the Philippines

In value terms, inactive yeast production totaled $X in 2021 estimated in export price. In general, production showed a mild increase. The pace of growth appeared the most rapid in 2014 with an increase of 188% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2021, production growth remained at a lower figure.

Inactive Yeast Exports

Exports from the Philippines

In 2021, exports of inactive yeasts and other dead single-cell micro-organisms from the Philippines soared to X tons, growing by 364% compared with the previous year. Over the period under review, exports recorded a prominent increase. The most prominent rate of growth was recorded in 2015 with an increase of 4,015% against the previous year. Over the period under review, the exports hit record highs at X tons in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

In value terms, inactive yeast exports surged to $X in 2021. In general, exports, however, showed a noticeable descent. The growth pace was the most rapid in 2015 with an increase of 4,163%. Over the period under review, the exports attained the maximum at $X in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Fiji (X tons) was the main destination for inactive yeast exports from the Philippines, with a 96% share of total exports. Moreover, inactive yeast exports to Fiji exceeded the volume sent to the second major destination, Bahrain (X kg), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume to Fiji was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Bahrain (+17.2% per year) and South Korea (-36.3% per year).

In value terms, Fiji ($X) emerged as the key foreign market for inactive yeasts and other dead single-cell micro-organisms exports from the Philippines, comprising 91% of total exports. The second position in the ranking was taken by Bahrain ($X), with a 5.6% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Fiji was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Bahrain (+3.6% per year) and South Korea (-39.8% per year).

Export Prices by Country

In 2021, the average inactive yeast export price amounted to $X per ton, shrinking by -50.4% against the previous year. In general, the export price continues to indicate a abrupt setback. The pace of growth was the most pronounced in 2013 an increase of 86% against the previous year. The export price peaked at $X per ton in 2015; however, from 2016 to 2021, the export prices failed to regain momentum.

Average prices varied somewhat for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Bahrain ($X per ton), while the average price for exports to South Korea ($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 Malaysia (+82.4%), while the prices for the other major destinations experienced a decline.

Inactive Yeast Imports

Imports into the Philippines

In 2021, inactive yeast imports into the Philippines skyrocketed to X tons, picking up by 56% against the year before. Over the period under review, imports saw a buoyant expansion. The most prominent rate of growth was recorded in 2019 when imports increased by 118% against the previous year. As a result, imports attained the peak of X tons. From 2020 to 2021, the growth of imports remained at a lower figure.

In value terms, inactive yeast imports rose notably to $X in 2021. Overall, imports posted a strong expansion. The pace of growth was the most pronounced in 2017 when imports increased by 112%. Over the period under review, imports reached the peak figure at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, France (X tons) constituted the largest supplier of inactive yeast to the Philippines, accounting for a 16% share of total imports. Moreover, inactive yeast imports from France exceeded the figures recorded by the second-largest supplier, the United States (X tons), threefold. The third position in this ranking was taken by China (X tons), with a 1.8% share.

From 2012 to 2021, the average annual growth rate of volume from France amounted to +42.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+41.8% per year) and China (-26.4% per year).

In value terms, France ($X), the United States ($X) and Finland ($X) appeared to be the largest inactive yeast suppliers to the Philippines, with a combined 45% share of total imports.

The United States, with a CAGR of +51.2%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average inactive yeast import price stood at $X per ton in 2021, waning by -29.6% against the previous year. Over the period under review, the import price, however, enjoyed a slight expansion. The pace of growth was the most pronounced in 2017 an increase of 167% against the previous year. As a result, import price reached the peak level of $X per ton. From 2018 to 2021, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for China ($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 (+9.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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