Philippines: Fruit-Preparation Industrial Machinery Market 2024

Fruit-Preparation Industrial Machinery Market Size in the Philippines

In 2021, the Philippine fruit-preparation industrial machinery market decreased by -15.1% to $X for the first time since 2018, thus ending a two-year rising trend. Over the period under review, consumption, however, posted a remarkable increase. Fruit-preparation industrial machinery consumption peaked at $X in 2020, and then declined notably in the following year.

Fruit-Preparation Industrial Machinery Production in the Philippines

In value terms, fruit-preparation industrial machinery production declined dramatically to $X in 2021 estimated in export price. Over the period under review, production, however, saw buoyant growth. The most prominent rate of growth was recorded in 2019 with an increase of 257%. Over the period under review, production attained the peak level at $X in 2020, and then shrank remarkably in the following year.

Fruit-Preparation Industrial Machinery Exports

Exports from the Philippines

In 2021, shipments abroad of industrial machinery for the preparation of fruits, nuts or vegetables increased by 80% to X units for the first time since 2018, thus ending a two-year declining trend. Over the period under review, exports enjoyed a remarkable increase. The growth pace was the most rapid in 2017 with an increase of 150% against the previous year. The exports peaked at X units in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, fruit-preparation industrial machinery exports surged to $X in 2021. Overall, exports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2017 when exports increased by 322% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X units) was the main destination for fruit-preparation industrial machinery exports from the Philippines, accounting for a 50% share of total exports. Moreover, fruit-preparation industrial machinery exports to the United States exceeded the volume sent to the second major destination, Vietnam (X units), twofold. The third position in this ranking was held by India (X units), with a 5.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States amounted to +31.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+100.0% per year) and India (0.0% per year).

In value terms, the United States ($X) remains the key foreign market for industrial machinery for the preparation of fruits, nuts or vegetables exports from the Philippines, comprising 63% of total exports. The second position in the ranking was held by India ($X), with a 12% share of total exports. It was followed by Singapore, with a 5.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States stood at +60.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+36.5% per year) and Singapore (+53.3% per year).

Export Prices by Country

The average fruit-preparation industrial machinery export price stood at $X per unit in 2021, jumping by 27% against the previous year. In general, the export price posted a buoyant expansion. The pace of growth was the most pronounced in 2013 an increase of 275% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2017; however, from 2018 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Singapore ($X per unit), while the average price for exports to Palau ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (+37.0%), while the prices for the other major destinations experienced more modest paces of growth.

Fruit-Preparation Industrial Machinery Imports

Imports into the Philippines

In 2021, approx. X units of industrial machinery for the preparation of fruits, nuts or vegetables were imported into the Philippines; with an increase of 94% against the previous year's figure. Overall, imports posted a significant increase. The most prominent rate of growth was recorded in 2016 with an increase of 247% against the previous year. Over the period under review, imports reached the peak figure at X units in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, fruit-preparation industrial machinery imports reduced markedly to $X in 2021. In general, imports showed resilient growth. The pace of growth appeared the most rapid in 2016 when imports increased by 184% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X units) constituted the largest fruit-preparation industrial machinery supplier to the Philippines, accounting for a 81% share of total imports. Moreover, fruit-preparation industrial machinery imports from China exceeded the figures recorded by the second-largest supplier, South Africa (X units), more than tenfold. The third position in this ranking was taken by Switzerland (X units), with a 2.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +32.6%. The remaining supplying countries recorded the following average annual rates of imports growth: South Africa (0.0% per year) and Switzerland (+60.6% per year).

In value terms, the largest fruit-preparation industrial machinery suppliers to the Philippines were China ($X), Malaysia ($X) and Taiwan (Chinese) ($X), together accounting for 48% of total imports.

Malaysia, with a CAGR of +81.7%, 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 fruit-preparation industrial machinery import price stood at $X per unit in 2021, shrinking by -64.7% against the previous year. Over the period under review, the import price continues to indicate a abrupt decrease. The pace of growth was the most pronounced in 2020 an increase of 120% against the previous year. The import price peaked at $X per unit in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+28.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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