Philippines: Tobacco Making Machinery Market 2024

Tobacco Making Machinery Market Size in the Philippines

The Philippine tobacco making machinery market soared to $X in 2022, jumping by 22% 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 recorded prominent growth. Tobacco making machinery consumption peaked at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Tobacco Making Machinery Exports

Exports from the Philippines

Tobacco making machinery exports from the Philippines soared to X units in 2022, growing by 226% against the previous year. In general, exports continue to indicate a significant increase. The pace of growth appeared the most rapid in 2015 with an increase of 242%. Over the period under review, the exports reached the peak figure at X units in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, tobacco making machinery exports soared to $X in 2022. Over the period under review, exports continue to indicate a significant increase. The growth pace was the most rapid in 2018 with an increase of 409% against the previous year. As a result, the exports reached the peak of $X. From 2019 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

The United States (X units), Singapore (X units) and Bangladesh (X units) were the main destinations of tobacco making machinery exports from the Philippines, together accounting for 100% of total exports.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +191.0%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, the United States ($X), Singapore ($X) and Bangladesh ($X) were the largest markets for tobacco making machinery exported from the Philippines worldwide.

In terms of the main countries of destination, the United States, with a CAGR of +195.3%, 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 tobacco making machinery export price amounted to $X per unit, shrinking by -14.1% against the previous year. In general, the export price, however, showed a tangible increase. The most prominent rate of growth was recorded in 2018 when the average export price increased by 176% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2019 to 2022, the average export prices failed to regain momentum.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Singapore ($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 Indonesia (+20.9%), while the prices for the other major destinations experienced more modest paces of growth.

Tobacco Making Machinery Imports

Imports into the Philippines

In 2022, approx. X units of machinery for the preparation or making up of tobacco were imported into the Philippines; growing by 26% compared with the previous year's figure. Overall, imports recorded a remarkable increase. The growth pace was the most rapid in 2021 with an increase of 273%. Over the period under review, imports hit record highs at X units in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, tobacco making machinery imports skyrocketed to $X in 2022. In general, imports enjoyed buoyant growth. The growth pace was the most rapid in 2016 with an increase of 264%. Imports peaked at $X in 2017; however, from 2018 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Bangladesh (X units) constituted the largest supplier of tobacco making machinery to the Philippines, with a 50% share of total imports. Moreover, tobacco making machinery imports from Bangladesh exceeded the figures recorded by the second-largest supplier, Germany (X units), twofold. The Netherlands (X units) ranked third in terms of total imports with an 18% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Bangladesh was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+26.9% per year) and the Netherlands (-3.5% per year).

In value terms, Bangladesh ($X) constituted the largest supplier of machinery for the preparation or making up of tobacco to the Philippines, comprising 50% of total imports. The second position in the ranking was taken by Germany ($X), with a 24% share of total imports. It was followed by the Netherlands, with an 18% share.

From 2012 to 2022, the average annual growth rate of value from Bangladesh was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+29.0% per year) and the Netherlands (-6.5% per year).

Import Prices by Country

In 2022, the average tobacco making machinery import price amounted to $X per unit, waning by -5.9% against the previous year. In general, the import price, however, saw a measured expansion. The pace of growth was the most pronounced in 2017 when the average import price increased by 68% against the previous year. As a result, import price attained the peak level of $X per unit. From 2018 to 2022, the average import prices remained at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Poland ($X per unit) and Hong Kong SAR ($X per unit), while the price for Italy ($X per unit) and Turkey ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+40.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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