Philippines: Lactose Market 2024

Lactose Market Size in the Philippines

The Philippine lactose market skyrocketed to $X in 2022, growing by 35% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption posted a tangible expansion. Lactose consumption peaked in 2022 and is likely to see steady growth in years to come.

Lactose Exports

Exports from the Philippines

In 2022, lactose exports from the Philippines contracted rapidly to X tons, which is down by -87.2% against the previous year's figure. In general, exports continue to indicate a dramatic curtailment. The most prominent rate of growth was recorded in 2016 with an increase of 1,619% against the previous year. As a result, the exports attained the peak of X tons. From 2017 to 2022, the growth of the exports remained at a lower figure.

In value terms, lactose exports declined rapidly to $X in 2022. Overall, exports faced a sharp decrease. The pace of growth appeared the most rapid in 2016 when exports increased by 2,185%. As a result, the exports attained the peak of $X. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for lactose exports from the Philippines, with a 86% share of total exports. Moreover, lactose exports to the United States exceeded the volume sent to the second major destination, Bahrain (X kg), sixfold.

From 2012 to 2022, the average annual growth rate of volume to the United States was relatively modest.

In value terms, the United States ($X) emerged as the key foreign market for lactose and lactose syrup exports from the Philippines, comprising 82% of total exports. The second position in the ranking was held by Bahrain ($X), with an 18% share of total exports.

From 2012 to 2022, the average annual growth rate of value to the United States was relatively modest.

Export Prices by Country

In 2022, the average lactose export price amounted to $X per ton, growing by 86% against the previous year. In general, export price indicated a pronounced increase from 2012 to 2022: its price increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Bahrain ($X per ton), while the average price for exports to the United States amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Palau (+14.7%), while the prices for the other major destinations experienced more modest paces of growth.

Lactose Imports

Imports into the Philippines

In 2022, the amount of lactose and lactose syrup imported into the Philippines skyrocketed to X tons, with an increase of 34% on the year before. Overall, imports posted a buoyant increase. The most prominent rate of growth was recorded in 2018 when imports increased by 62% against the previous year. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, lactose imports surged to $X in 2022. In general, imports posted moderate growth. The growth pace was the most rapid in 2019 when imports increased by 47%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, the United States (X tons) constituted the largest supplier of lactose to the Philippines, with a 67% share of total imports. Moreover, lactose imports from the United States exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), sevenfold. Germany (X tons) ranked third in terms of total imports with a 6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States totaled +7.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+8.4% per year) and Germany (+5.6% per year).

In value terms, the United States ($X) constituted the largest supplier of lactose and lactose syrup to the Philippines, comprising 64% of total imports. The second position in the ranking was held by the Netherlands ($X), with a 10% share of total imports. It was followed by Germany, with a 7.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States totaled +4.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+6.7% per year) and Germany (+6.7% per year).

Import Prices by Country

In 2022, the average lactose import price amounted to $X per ton, with an increase of 1.6% against the previous year. In general, the import price, however, showed a pronounced reduction. The most prominent rate of growth was recorded in 2019 when the average import price increased by 28%. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Germany ($X per ton) and Denmark ($X per ton), while the price for the United States ($X per ton) and New Zealand ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+1.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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