Philippines: Market for Mineral or Aerated Waters 2024

Market Size for Mineral or Aerated Waters in the Philippines

The Philippine mineral or aerated water market rose slightly to $X in 2022, growing by 3% against the previous year. Overall, consumption saw buoyant growth. Mineral or aerated water consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Production of Mineral or Aerated Waters in the Philippines

In value terms, mineral or aerated water production expanded to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a prominent increase. The growth pace was the most rapid in 2018 when the production volume increased by 57% against the previous year. Mineral or aerated water production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Exports of Mineral or Aerated Waters

Exports from the Philippines

In 2022, exports of mineral or aerated waters from the Philippines was estimated at X tons, increasing by 4% against the previous year's figure. In general, exports, however, faced a deep slump. The most prominent rate of growth was recorded in 2019 when exports increased by 57% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, mineral or aerated water exports expanded notably to $X in 2022. Overall, exports, however, saw a deep contraction. The pace of growth appeared the most rapid in 2018 when exports increased by 130% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Palau (X tons), Northern Mariana Islands (X tons) and Marshall Islands (X tons) were the main destinations of mineral or aerated water exports from the Philippines, with a combined 63% share of total exports. These countries were followed by Micronesia, Macao SAR, Vanuatu, the United States and Hong Kong SAR, which together accounted for a further 34%.

From 2012 to 2022, the biggest increases were recorded for Macao SAR (with a CAGR of +65.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for mineral or aerated water exported from the Philippines were Northern Mariana Islands ($X), Palau ($X) and Micronesia ($X), with a combined 72% share of total exports. These countries were followed by Marshall Islands, Macao SAR, the United States, Vanuatu and Hong Kong SAR, which together accounted for a further 26%.

Among the main countries of destination, Macao SAR, with a CAGR of +55.9%, recorded the highest growth rate of 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 mineral or aerated water export price amounted to $X per ton, with an increase of 6.4% against the previous year. Overall, the export price showed prominent growth. The most prominent rate of growth was recorded in 2018 an increase of 55%. The export price peaked at $X per ton in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Northern Mariana Islands ($X per ton), while the average price for exports to Vanuatu ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to United States Minor Outlying Islands (+14.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Mineral or Aerated Waters

Imports into the Philippines

In 2022, approx. X tons of mineral or aerated waters were imported into the Philippines; surging by 13% compared with 2021 figures. In general, imports continue to indicate significant growth. The pace of growth was the most pronounced in 2017 with an increase of 779% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in the immediate term.

In value terms, mineral or aerated water imports contracted to $X in 2022. Over the period under review, imports showed significant growth. The most prominent rate of growth was recorded in 2017 with an increase of 530% against the previous year. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Indonesia (X tons) was the main supplier of mineral or aerated water to the Philippines, accounting for a 93% share of total imports. Moreover, mineral or aerated water imports from Indonesia exceeded the figures recorded by the second-largest supplier, France (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume from Indonesia amounted to +144.6%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+14.3% per year) and South Korea (+17.7% per year).

In value terms, Indonesia ($X) constituted the largest supplier of mineral or aerated waters to the Philippines, comprising 67% of total imports. The second position in the ranking was held by France ($X), with a 17% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Indonesia totaled +109.9%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+22.5% per year) and South Korea (+21.9% per year).

Import Prices by Country

The average mineral or aerated water import price stood at $X per ton in 2022, waning by -19.5% against the previous year. In general, the import price saw a deep reduction. The most prominent rate of growth was recorded in 2015 when the average import price increased by 13%. As a result, import price reached the peak level of $X per ton. From 2016 to 2022, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was France ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+7.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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