Philippines: Food Manufacture Machinery Market 2024

Food Manufacture Machinery Market Size in the Philippines

The Philippine food manufacture machinery market was finally on the rise to reach $X in 2021, after two years of decline. Over the period under review, the total consumption indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +6.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -18.0% against 2018 indices. Food manufacture machinery consumption peaked at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Food Manufacture Machinery Production in the Philippines

In value terms, food manufacture machinery production skyrocketed to $X in 2021 estimated in export price. Overall, production, however, recorded a strong expansion. The most prominent rate of growth was recorded in 2017 when the production volume increased by 58% against the previous year. Over the period under review, production reached the maximum level at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Food Manufacture Machinery Exports

Exports from the Philippines

After three years of growth, overseas shipments of machinery for the preparation or manufacture of food or drink decreased by -13.3% to X units in 2021. Overall, exports, however, posted a significant increase. The growth pace was the most rapid in 2020 when exports increased by 2,171%. As a result, the exports attained the peak of X units, and then contracted in the following year.

In value terms, food manufacture machinery exports totaled $X in 2021. In general, exports, however, enjoyed a significant increase. The most prominent rate of growth was recorded in 2013 when exports increased by 1,171% against the previous year. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the near future.

Exports by Country

Australia (X units) was the main destination for food manufacture machinery exports from the Philippines, accounting for a 89% share of total exports. Moreover, food manufacture machinery exports to Australia exceeded the volume sent to the second major destination, Vietnam (X units), tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Australia totaled +90.8%.

In value terms, Australia ($X) remains the key foreign market for machinery for the preparation or manufacture of food or drink exports from the Philippines, comprising 64% of total exports. The second position in the ranking was taken by Vietnam ($X), with a 24% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Australia amounted to +100.6%.

Export Prices by Country

The average food manufacture machinery export price stood at $X per unit in 2021, with an increase of 17% against the previous year. Over the period under review, the export price continues to indicate a strong increase. The pace of growth appeared the most rapid in 2013 when the average export price increased by 226%. The export price peaked at $X per unit in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Vietnam ($X per unit), while the average price for exports to Australia totaled $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (+10.3%), while the prices for the other major destinations experienced more modest paces of growth.

Food Manufacture Machinery Imports

Imports into the Philippines

For the third consecutive year, the Philippines recorded decline in purchases abroad of machinery for the preparation or manufacture of food or drink, which decreased by -17.4% to X units in 2021. In general, imports, however, showed a remarkable increase. The pace of growth appeared the most rapid in 2015 when imports increased by 187%. Over the period under review, imports hit record highs at X units in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, food manufacture machinery imports contracted markedly to $X in 2021. Overall, imports, however, posted a noticeable expansion. The most prominent rate of growth was recorded in 2014 with an increase of 80%. Over the period under review, imports reached the peak figure at $X in 2015; however, from 2016 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X units) constituted the largest supplier of food manufacture machinery to the Philippines, accounting for a 80% share of total imports. Moreover, food manufacture machinery imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X units), more than tenfold. The third position in this ranking was taken by Germany (X units), with a 3.4% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +25.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+2.8% per year) and Germany (+50.3% per year).

In value terms, the largest food manufacture machinery suppliers to the Philippines were China ($X), Germany ($X) and the United States ($X), together accounting for 67% of total imports. Taiwan (Chinese), Italy and Japan lagged somewhat behind, together comprising a further 13%.

Italy, with a CAGR of +41.6%, 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 food manufacture machinery import price stood at $X per unit in 2021, dropping by -14.2% against the previous year. In general, the import price faced a abrupt shrinkage. The pace of growth was the most pronounced in 2019 an increase of 59%. Over the period under review, average import prices reached the maximum at $X per unit in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Germany ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+4.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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