Report Update Nov 1, 2024

Philippines - Lard - Market Analysis, Forecast, Size, Trends and Insights

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Philippines: Lard Market 2024

Lard Market Size in the Philippines

In 2022, the Philippine lard market decreased by -11.2% to $X for the first time since 2019, thus ending a two-year rising trend. Over the period under review, consumption saw a mild setback. Over the period under review, the market attained the peak level at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Lard Production in the Philippines

In value terms, lard production reduced slightly to $X in 2022 estimated in export price. Overall, production recorded a slight curtailment. The pace of growth appeared the most rapid in 2016 when the production volume increased by 24%. Lard production peaked at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

Lard Imports

Imports into the Philippines

In 2022, after five years of growth, there was significant decline in purchases abroad of lard, when their volume decreased by -96.6% to X tons. Overall, imports, however, enjoyed strong growth. The pace of growth was the most pronounced in 2020 with an increase of 485%. Over the period under review, imports hit record highs at X tons in 2021, and then fell notably in the following year.

In value terms, lard imports fell rapidly to $X in 2022. In general, imports, however, saw a significant expansion. The most prominent rate of growth was recorded in 2018 when imports increased by 228% against the previous year. Over the period under review, imports attained the maximum at $X in 2021, and then contracted rapidly in the following year.

Imports by Country

The Netherlands (X tons), Japan (X tons) and Spain (X tons) were the main suppliers of lard imports to the Philippines, with a combined 99.9% share of total imports.

From 2017 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Netherlands (with a CAGR of +0.6%), while imports for the other leaders experienced mixed trend patterns.

In value terms, the Netherlands ($X) constituted the largest supplier of lard to the Philippines, comprising 57% of total imports. The second position in the ranking was taken by Japan ($X), with a 26% share of total imports.

From 2017 to 2022, the average annual growth rate of value from the Netherlands amounted to +20.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+2.4% per year) and Spain (+21.6% per year).

Import Prices by Country

The average lard import price stood at $X per ton in 2022, with an increase of 513% against the previous year. In general, the import price recorded a remarkable increase. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Spain ($X per ton), while the price for Japan ($X per ton) was amongst the lowest.

From 2017 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+21.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for lard in the world?

The country with the largest volume of lard consumption was China, comprising approx. 32% of total volume. Moreover, lard consumption in China exceeded the figures recorded by the second-largest consumer, Germany, fourfold. The third position in this ranking was occupied by Brazil, with an 8.5% share.

What are the largest producers of lard in the world?

China remains the largest lard producing country worldwide, comprising approx. 32% of total volume. Moreover, lard production in China exceeded the figures recorded by the second-largest producer, Germany, fourfold. The third position in this ranking was occupied by Brazil, with an 8.4% share.

What are the leading suppliers of lard to the Philippines?

In value terms, Hong Kong SAR constituted the largest supplier of lard to the Philippines, comprising 86% of total imports. The second position in the ranking was occupied by Spain, with a 3.5% share of total imports.

What are the leading importers of lard from the Philippines?

In value terms, Thailand $91) remains the key foreign market for lard exports from the Philippines.

What is the average export price for lard in the Philippines?

The average lard export price stood at $15,167 per ton in 2021, shrinking by -21.2% against the previous year.

What is the average import price for lard in the Philippines?

In 2021, the average lard import price amounted to $2,508 per ton, picking up by 46% against the previous year.

This report provides an in-depth analysis of the lard market in the Philippines. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

FCL 1043 - Lard

Country coverage:

Philippines

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in the Philippines
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023