Philippines: Meat-Preparation Industrial Machinery Market 2024

Meat-Preparation Industrial Machinery Market Size in the Philippines

In 2022, after three years of growth, there was significant decline in the Philippine meat-preparation industrial machinery market, when its value decreased by -55.1% to $X. Overall, consumption, however, continues to indicate a remarkable increase. Meat-preparation industrial machinery consumption peaked at $X in 2021, and then shrank notably in the following year.

Meat-Preparation Industrial Machinery Exports

Exports from the Philippines

For the third consecutive year, the Philippines recorded decline in shipments abroad of industrial machinery for the preparation of meat or poultry, which decreased by 0% to X units in 2022. Over the period under review, exports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 with an increase of 707%. As a result, the exports attained the peak of X units. From 2017 to 2022, the growth of the exports remained at a lower figure.

In value terms, meat-preparation industrial machinery exports stood at $X in 2022. In general, exports showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2019 with an increase of 3,476%. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

Exports by Country

Australia (X units), Indonesia (X units) and Malaysia (X units) were the main destinations of meat-preparation industrial machinery exports from the Philippines, together accounting for 33% of total exports.

From 2012 to 2022, the biggest increases were recorded for Australia (with a CAGR of 0.0%), while shipments for the other leaders experienced more modest paces of growth.

It was followed by India, with a 4.7% share.

From 2012 to 2022, the average annual growth rate of value to the Netherlands amounted to +120.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (-17.5% per year) and India (0.0% per year).

Export Prices by Country

In 2022, the average meat-preparation industrial machinery export price amounted to $X per unit, stabilizing at the previous year. In general, the export price faced a abrupt shrinkage. The growth pace was the most rapid in 2019 when the average export price increased by 450%. As a result, the export price reached the peak level of $X per unit. From 2020 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($X per unit), while the average price for exports to Germany ($X per unit) 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 (+120.1%), while the prices for the other major destinations experienced a decline.

Meat-Preparation Industrial Machinery Imports

Imports into the Philippines

In 2022, supplies from abroad of industrial machinery for the preparation of meat or poultry decreased by -47.6% to X units for the first time since 2018, thus ending a three-year rising trend. Overall, imports, however, saw a significant expansion. The pace of growth was the most pronounced in 2017 with an increase of 298% against the previous year. Imports peaked at X units in 2021, and then dropped significantly in the following year.

In value terms, meat-preparation industrial machinery imports reduced dramatically to $X in 2022. In general, imports, however, recorded strong growth. The most prominent rate of growth was recorded in 2017 when imports increased by 121% against the previous year. As a result, imports reached the peak of $X. From 2018 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest supplier of meat-preparation industrial machinery to the Philippines, with a 59% share of total imports. Moreover, meat-preparation industrial machinery imports from China exceeded the figures recorded by the second-largest supplier, Italy (X units), sixfold. The third position in this ranking was held by Taiwan (Chinese) (X units), with a 9.3% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +34.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+42.7% per year) and Taiwan (Chinese) (+29.8% per year).

In value terms, Germany ($X) constituted the largest supplier of industrial machinery for the preparation of meat or poultry to the Philippines, comprising 27% of total imports. The second position in the ranking was held by China ($X), with a 13% share of total imports. It was followed by South Africa, with an 8.8% share.

From 2012 to 2022, the average annual growth rate of value from Germany totaled +21.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+16.9% per year) and South Africa (-44.2% per year).

Import Prices by Country

In 2022, the average meat-preparation industrial machinery import price amounted to $X per unit, with a decrease of -44.2% against the previous year. Over the period under review, the import price showed a abrupt contraction. The most prominent rate of growth was recorded in 2019 an increase of 77%. Over the period under review, average import prices reached the maximum at $X per unit in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was South Africa ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Africa (+11.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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