Philippines: Machinery For Packing Market 2024

Machinery For Packing Market Size in the Philippines

In 2022, the Philippine machinery for packing market increased by 11% to $X, rising for the second consecutive year after two years of decline. Overall, the total consumption indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +29.0% against 2020 indices. Over the period under review, the market attained the maximum level at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Machinery For Packing Exports

Exports from the Philippines

In 2022, the amount of machinery for packing or wrapping exported from the Philippines fell rapidly to X units, waning by -34% on 2021. Over the period under review, exports recorded a perceptible slump. The growth pace was the most rapid in 2019 when exports increased by 3,131%. The exports peaked at X units in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, machinery for packing exports contracted remarkably to $X in 2022. In general, exports, however, posted mild growth. The growth pace was the most rapid in 2019 with an increase of 5,651%. The exports peaked at $X in 2021, and then shrank remarkably in the following year.

Exports by Country

Taiwan (Chinese) (X units), Indonesia (X units) and Bangladesh (X units) were the main destinations of machinery for packing exports from the Philippines, together accounting for 69% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Taiwan (Chinese) (with a CAGR of +19.1%), while the other leaders experienced more modest paces of growth.

In value terms, Taiwan (Chinese) ($X), Indonesia ($X) and Bangladesh ($X) were the largest markets for machinery for packing exported from the Philippines worldwide, together accounting for 69% of total exports.

Among the main countries of destination, Taiwan (Chinese), with a CAGR of +28.8%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average machinery for packing export price amounted to $X per unit, declining by -14.4% against the previous year. In general, the export price, however, recorded prominent growth. The most prominent rate of growth was recorded in 2018 when the average export price increased by 190% against the previous year. Over the period under review, the average export prices attained the maximum at $X per unit in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were the United Arab Emirates ($X per unit) and Australia ($X per unit), while the average price for exports to Thailand ($X per unit) and Bangladesh ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Bangladesh (+11.2%), while the prices for the other major destinations experienced more modest paces of growth.

Machinery For Packing Imports

Imports into the Philippines

In 2022, supplies from abroad of machinery for packing or wrapping increased by 13% to X units, rising for the second year in a row after three years of decline. Over the period under review, imports, however, showed a slight descent. The pace of growth was the most pronounced in 2017 when imports increased by 29%. As a result, imports attained the peak of X units. From 2018 to 2022, the growth of imports remained at a lower figure.

In value terms, machinery for packing imports expanded remarkably to $X in 2022. In general, imports posted buoyant growth. The most prominent rate of growth was recorded in 2015 when imports increased by 42%. Over the period under review, imports attained the peak figure at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Italy (X units), China (X units) and Japan (X units) were the main suppliers of machinery for packing imports to the Philippines, together accounting for 50% of total imports. Germany, Indonesia, South Korea, Malaysia, Singapore, France, Taiwan (Chinese), Switzerland and India lagged somewhat behind, together comprising a further 44%.

From 2012 to 2022, the biggest increases were recorded for South Korea (with a CAGR of +36.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), China ($X) and Japan ($X) constituted the largest machinery for packing suppliers to the Philippines, with a combined 50% share of total imports. Germany, Indonesia, South Korea, Malaysia, Singapore, France, Taiwan (Chinese), Switzerland and India lagged somewhat behind, together comprising a further 44%.

Indonesia, with a CAGR of +43.1%, 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 machinery for packing import price stood at $X per unit in 2022, which is down by -3.7% against the previous year. Overall, the import price, however, enjoyed resilient growth. The pace of growth was the most pronounced in 2018 an increase of 71%. The import price peaked at $X per unit in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were India ($X per unit) and Japan ($X per unit), while the price for Singapore ($X per unit) and Malaysia ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+25.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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