Philippines: Market for Jellyfish, Dried, Salted Or In Brine, Smoked 2024

Market Size for Jellyfish, Dried, Salted Or In Brine, Smoked in the Philippines

The Philippine market for jellyfish, dried, salted or in brine, smoked skyrocketed to $X in 2022, increasing by 87% against the previous year. In general, consumption continues to indicate a significant increase. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Production of Jellyfish, Dried, Salted Or In Brine, Smoked in the Philippines

In value terms, production of jellyfish, dried, salted or in brine, smoked skyrocketed to $X in 2022 estimated in export price. Over the period under review, production, however, saw a abrupt curtailment. Over the period under review, production of attained the peak level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Exports of Jellyfish, Dried, Salted Or In Brine, Smoked

Exports from the Philippines

In 2022, approx. X tons of jellyfish, dried, salted or in brine, smoked were exported from the Philippines; growing by 114% on the previous year's figure. Overall, exports posted a significant expansion. Over the period under review, the exports of attained the maximum at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, exports of jellyfish, dried, salted or in brine, smoked surged to $X in 2022. In general, exports showed significant growth. Over the period under review, the exports of reached the peak figure at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

South Korea (X tons) was the main destination for exports of jellyfish, dried, salted or in brine, smoked from the Philippines, accounting for a 73% share of total exports. Moreover, exports of jellyfish, dried, salted or in brine, smoked to South Korea exceeded the volume sent to the second major destination, Canada (X tons), threefold.

From 2017 to 2022, the average annual rate of growth in terms of volume to South Korea totaled +150.6%.

In value terms, South Korea ($X) remains the key foreign market for jellyfish, dried, salted or in brine, smoked exports from the Philippines, comprising 92% of total exports. The second position in the ranking was held by Canada ($X), with an 8.3% share of total exports.

From 2017 to 2022, the average annual growth rate of value to South Korea amounted to +242.5%.

Export Prices by Country

In 2022, the average export price for jellyfish, dried, salted or in brine, smoked amounted to $X per ton, increasing by 30% against the previous year. Overall, the export price showed a significant expansion. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was South Korea ($X per ton), while the average price for exports to Canada stood at $X per ton.

From 2017 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Thailand (+298.6%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Jellyfish, Dried, Salted Or In Brine, Smoked

Imports into the Philippines

For the third year in a row, the Philippines recorded decline in supplies from abroad of jellyfish, dried, salted or in brine, smoked, which decreased by 0% to X tons in 2022. Over the period under review, imports saw a sharp curtailment. The most prominent rate of growth was recorded in 2019 with an increase of 17%. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, imports of jellyfish, dried, salted or in brine, smoked amounted to $X in 2022. Overall, imports saw a deep downturn. The most prominent rate of growth was recorded in 2019 when imports increased by 128% against the previous year. As a result, imports attained the peak of $X. From 2020 to 2022, the growth of imports of remained at a somewhat lower figure.

Imports by Country

In 2022, Hong Kong SAR (X tons) was the main jellyfish, dried, salted or in brine, smoked supplier to the Philippines, with a 93% share of total imports. Moreover, imports of jellyfish, dried, salted or in brine, smoked from Hong Kong SAR exceeded the figures recorded by the second-largest supplier, South Korea (X kg), more than tenfold.

From 2017 to 2022, the average annual growth rate of volume from Hong Kong SAR totaled +215.5%.

In value terms, Hong Kong SAR ($X) constituted the largest supplier of jellyfish, dried, salted or in brine, smoked to the Philippines, comprising 67% of total imports. The second position in the ranking was taken by South Korea ($X), with a 7.5% share of total imports.

From 2017 to 2022, the average annual growth rate of value from Hong Kong SAR amounted to +378.6%.

Import Prices by Country

The average import price for jellyfish, dried, salted or in brine, smoked stood at $X per ton in 2022, approximately reflecting the previous year. In general, the import price continues to indicate a significant expansion. The most prominent rate of growth was recorded in 2018 an increase of 219% against the previous year. The import price peaked at $X per ton in 2019; however, from 2020 to 2022, import prices stood at a somewhat 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 Korea ($X per ton), while the price for Hong Kong SAR amounted to $X per ton.

From 2017 to 2022, the most notable rate of growth in terms of prices was attained by China (+72.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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