Philippines: Potato Chips Market 2024

Potato Chips Market Size in the Philippines

The Philippine potato chips market expanded slightly to $X in 2022, surging by 1.6% against the previous year. In general, the total consumption indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +5.2% 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 -0.8% against 2019 indices. Potato chips consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Potato Chips Production in the Philippines

In value terms, potato chips production shrank slightly to $X in 2022 estimated in export price. Overall, the total production indicated a temperate expansion from 2012 to 2022: its value 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. Based on 2022 figures, production decreased by -2.1% against 2019 indices. The most prominent rate of growth was recorded in 2018 with an increase of 18%. Potato chips production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Potato Chips Exports

Exports from the Philippines

In 2022, shipments abroad of potato chips increased by 19% to X tons, rising for the third consecutive year after two years of decline. In general, exports showed a significant expansion. The pace of growth was the most pronounced in 2020 when exports increased by 1,518% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the immediate term.

In value terms, potato chips exports soared to $X in 2022. Overall, exports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2013 when exports increased by 1,145%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the near future.

Exports by Country

The United Arab Emirates (X tons), the United States (X tons) and Canada (X tons) were the main destinations of potato chips exports from the Philippines, with a combined 63% share of total exports.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +203.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X), the United States ($X) and Canada ($X) constituted the largest markets for potato chips exported from the Philippines worldwide, together comprising 65% of total exports. Saudi Arabia, Australia, Qatar, Mongolia, Kuwait, Hong Kong SAR, South Korea and Bahrain lagged somewhat behind, together accounting for a further 28%.

Saudi Arabia, with a CAGR of +119.4%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination 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 potato chips export price amounted to $X per ton, rising by 8.9% against the previous year. In general, the export price posted a pronounced increase. The most prominent rate of growth was recorded in 2019 when the average export price increased by 281% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2020 to 2022, the average export prices remained at a somewhat lower figure.

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 the United States ($X per ton), while the average price for exports to Hong Kong SAR ($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 Hong Kong SAR (+16.6%), while the prices for the other major destinations experienced more modest paces of growth.

Potato Chips Imports

Imports into the Philippines

Potato chips imports into the Philippines skyrocketed to X tons in 2022, with an increase of 56% against the previous year's figure. In general, imports continue to indicate significant growth. The pace of growth was the most pronounced in 2019 when imports increased by 253% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, potato chips imports fell to $X in 2022. Over the period under review, imports enjoyed a significant increase. The most prominent rate of growth was recorded in 2019 when imports increased by 315% against the previous year. Over the period under review, imports reached the maximum at $X in 2021, and then contracted in the following year.

Imports by Country

China (X tons), the United States (X tons) and Singapore (X tons) were the main suppliers of potato chips imports to the Philippines, together comprising 87% of total imports.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +68.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of potato chips to the Philippines, comprising 56% of total imports. The second position in the ranking was held by China ($X), with a 21% share of total imports. It was followed by Thailand, with a 9.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States totaled +41.4%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+73.1% per year) and Thailand (+51.9% per year).

Import Prices by Country

In 2022, the average potato chips import price amounted to $X per ton, dropping by -43.6% against the previous year. Overall, the import price, however, enjoyed a strong increase. The growth pace was the most rapid in 2015 when the average import price increased by 74%. Over the period under review, average import prices reached the maximum at $X per ton in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

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 Thailand ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+13.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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