Philippines: Mixes And Doughs Market 2024

Mixes And Doughs Market Size in the Philippines

In 2022, the Philippine mixes and doughs market decreased by -6.5% to $X, falling for the second year in a row after two years of growth. Over the period under review, the total consumption indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -7.0% against 2020 indices. Over the period under review, the market attained the maximum level at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Mixes And Doughs Production in the Philippines

In value terms, mixes and doughs production reached $X in 2022 estimated in export price. Overall, the total production indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -1.1% against 2020 indices. The most prominent rate of growth was recorded in 2017 with an increase of 54%. As a result, production reached the peak level of $X. From 2018 to 2022, production growth remained at a somewhat lower figure.

Mixes And Doughs Exports

Exports from the Philippines

In 2022, overseas shipments of mixes and doughs increased by 54% to X tons, rising for the second consecutive year after two years of decline. Overall, exports enjoyed strong growth. The pace of growth appeared the most rapid in 2021 with an increase of 350% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the near future.

In value terms, mixes and doughs exports soared to $X in 2022. Over the period under review, exports recorded a prominent expansion. The growth pace was the most rapid in 2021 when exports increased by 288% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are likely to continue growth in the near future.

Exports by Country

The United States (X tons), Malaysia (X tons) and the United Arab Emirates (X tons) were the main destinations of mixes and doughs exports from the Philippines, with a combined 66% share of total exports. Canada, Thailand, Saudi Arabia, Brunei Darussalam, Vietnam and Indonesia lagged somewhat behind, together accounting for a further 26%.

From 2012 to 2022, the biggest increases were recorded for Brunei Darussalam (with a CAGR of +68.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X) emerged as the key foreign market for mixes and doughs exports from the Philippines, comprising 50% of total exports. The second position in the ranking was held by the United States ($X), with a 16% share of total exports. It was followed by the United Arab Emirates, with an 8.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Malaysia amounted to +30.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+11.6% per year) and the United Arab Emirates (+5.4% per year).

Export Prices by Country

In 2022, the average mixes and doughs export price amounted to $X per ton, surging by 22% against the previous year. In general, export price indicated a pronounced expansion from 2012 to 2022: its price increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 an increase of 60% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Malaysia ($X per ton), while the average price for exports to the United Arab Emirates ($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 Malaysia (+13.9%), while the prices for the other major destinations experienced more modest paces of growth.

Mixes And Doughs Imports

Imports into the Philippines

In 2022, after seven years of growth, there was significant decline in supplies from abroad of mixes and doughs, when their volume decreased by -52.6% to X tons. Over the period under review, imports, however, enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2019 when imports increased by 66%. Imports peaked at X tons in 2021, and then declined notably in the following year.

In value terms, mixes and doughs imports shrank to $X in 2022. Overall, imports, however, posted buoyant growth. The pace of growth appeared the most rapid in 2015 with an increase of 50%. Imports peaked at $X in 2020; however, from 2021 to 2022, imports remained at a lower figure.

Imports by Country

The United States (X tons), Indonesia (X tons) and China (X tons) were the main suppliers of mixes and doughs imports to the Philippines, together comprising 73% of total imports. Singapore, Thailand, Japan, Belgium, South Korea, Malaysia and France lagged somewhat behind, together comprising a further 19%.

From 2012 to 2022, the biggest increases were recorded for Japan (with a CAGR of +67.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Indonesia ($X) and Thailand ($X) were the largest mixes and doughs suppliers to the Philippines, together accounting for 69% of total imports.

Among the main suppliers, Indonesia, with a CAGR of +59.9%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average mixes and doughs import price stood at $X per ton in 2022, with an increase of 85% against the previous year. Overall, import price indicated a slight increase from 2012 to 2022: its price increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, average import prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Malaysia ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+6.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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