Philippines: Market for Processed cheese (excluding grated or powdered) 2021

Market Size for Processed cheese (excluding grated or powdered) in the Philippines

The Philippine market for processed cheese (excluding grated or powdered) declined slightly to $X in 2020, almost unchanged from the previous year. Over the period under review, consumption saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2008 when the market value increased by X% y-o-y. Consumption peaked at $X in 2011; however, from 2012 to 2020, consumption failed to regain the momentum.

Production of Processed cheese (excluding grated or powdered) in the Philippines

In value terms, production of processed cheese (excluding grated or powdered) rose rapidly to $X in 2020 estimated in export prices. Overall, production saw a relatively flat trend pattern. The growth pace was the most rapid in 2008 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2009 to 2020, production growth remained at a somewhat lower figure.

Exports of Processed cheese (excluding grated or powdered)

Exports from the Philippines

In 2020, the amount of processed cheese (excluding grated or powdered) exported from the Philippines reduced slightly to X tons, waning by -X% compared with the previous year. Over the period under review, exports showed a deep reduction. The most prominent rate of growth was recorded in 2009 when exports increased by X% y-o-y. Exports peaked at X tons in 2013; however, from 2014 to 2020, exports remained at a lower figure.

In value terms, exports of processed cheese (excluding grated or powdered) contracted to $X in 2020. In general, exports showed a abrupt downturn. The pace of growth was the most pronounced in 2013 when exports increased by X% against the previous year. As a result, exports reached the peak of $X. From 2014 to 2020, the growth of exports remained at a somewhat lower figure.

Exports by Country

Indonesia (X tons) was the main destination for exports of processed cheese (excluding grated or powdered) from the Philippines, accounting for a X% share of total exports. Moreover, exports of processed cheese (excluding grated or powdered) to Indonesia exceeded the volume sent to the second major destination, the United Arab Emirates (X tons), fourfold. The third position in this ranking was occupied by Canada (X tons), with a X% share.

From 2007 to 2020, the average annual rate of growth in terms of volume to Indonesia stood at -X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+X% per year) and Canada (+X% per year).

In value terms, Indonesia ($X) remains the key foreign market for processed cheese (excluding grated or powdered) exports from the Philippines, comprising X% of total exports. The second position in the ranking was occupied by the United Arab Emirates ($X), with a X% share of total exports. It was followed by Canada, with a X% share.

From 2007 to 2020, the average annual rate of growth in terms of value to Indonesia amounted to -X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+X% per year) and Canada (+X% per year).

Export Prices by Country

The average export price for processed cheese (excluding grated or powdered) stood at $X per ton in 2020, waning by -X% against the previous year. Overall, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the average export price increased by X% y-o-y. The export price peaked at $X per ton in 2008; however, from 2009 to 2020, export prices failed to regain the momentum.

There were significant differences in the average prices for the major external markets. In 2020, the country with the highest price was Singapore ($X per ton), while the average price for exports to Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Singapore, while the prices for the other major destinations experienced more modest paces of growth.

Imports of Processed cheese (excluding grated or powdered)

Imports into the Philippines

In 2020, after two years of growth, there was significant decline in overseas purchases of processed cheese (excluding grated or powdered), when their volume decreased by -X% to X tons. In general, imports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2010 with an increase of X% against the previous year. Imports peaked at X tons in 2019, and then dropped markedly in the following year.

In value terms, imports of processed cheese (excluding grated or powdered) shrank significantly to $X in 2020. Overall, imports, however, continue to indicate a notable increase. The pace of growth appeared the most rapid in 2010 with an increase of X% against the previous year. Over the period under review, imports reached the maximum at $X in 2019, and then contracted significantly in the following year.

Imports by Country

In 2020, New Zealand (X tons) constituted the largest processed cheese (excluding grated or powdered) supplier to the Philippines, with a X% share of total imports. Moreover, imports of processed cheese (excluding grated or powdered) from New Zealand exceeded the figures recorded by the second-largest supplier, Indonesia (X tons), twofold. The third position in this ranking was occupied by the U.S. (X tons), with a X% share.

From 2007 to 2020, the average annual rate of growth in terms of volume from New Zealand totaled -X%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+X% per year) and the U.S. (+X% per year).

In value terms, New Zealand ($X) constituted the largest supplier of processed cheese (excluding grated or powdered) to the Philippines, comprising X% of total imports. The second position in the ranking was occupied by Indonesia ($X), with a X% share of total imports. It was followed by Brazil, with a X% share.

From 2007 to 2020, the average annual growth rate of value from New Zealand was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+X% per year) and Brazil (+X% per year).

Import Prices by Country

In 2020, the average import price for processed cheese (excluding grated or powdered) amounted to $X per ton, rising by X% against the previous year. Over the period from 2007 to 2020, it increased at an average annual rate of +X%. The most prominent rate of growth was recorded in 2008 when the average import price increased by X% y-o-y. Over the period under review, average import prices hit record highs in 2020 and is expected to retain growth in years to come.

Prices varied noticeably by the country of origin; the country with the highest price was Brazil ($X per ton), while the price for Ireland ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Greece, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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