Report Update Nov 1, 2024

Philippines - Tea - Market Analysis, Forecast, Size, Trends and Insights

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Philippines: Tea Market 2024

Tea Market Size in the Philippines

The Philippine tea market fell dramatically to $X in 2022, with a decrease of -20.5% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, showed a relatively flat trend pattern. Tea consumption peaked at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Tea Exports

Exports from the Philippines

For the third consecutive year, the Philippines recorded decline in shipments abroad of tea, which decreased by -52.7% to X tons in 2022. Overall, exports faced a significant decline. The most prominent rate of growth was recorded in 2015 with an increase of 125%. The exports peaked at X tons in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, tea exports dropped to $X in 2022. In general, exports showed a precipitous shrinkage. The most prominent rate of growth was recorded in 2015 with an increase of 73% against the previous year. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

Exports by Country

Singapore (X tons) was the main destination for tea exports from the Philippines, with a 63% share of total exports. Moreover, tea exports to Singapore exceeded the volume sent to the second major destination, Canada (X kg), sevenfold. The United States (X kg) ranked third in terms of total exports with an 8.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Singapore amounted to -4.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (-27.2% per year) and the United States (-28.7% per year).

In value terms, the largest markets for tea exported from the Philippines were the United States ($X), Singapore ($X) and Canada ($X), together accounting for 76% of total exports. Bahrain, Bermuda and the Netherlands lagged somewhat behind, together accounting for a further 9%.

The Netherlands, with a CAGR of -2.1%, saw 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 a decline.

Export Prices by Country

The average tea export price stood at $X per ton in 2022, with an increase of 93% against the previous year. In general, the export price enjoyed buoyant growth. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Singapore ($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 Canada (+21.4%), while the prices for the other major destinations experienced more modest paces of growth.

Tea Imports

Imports into the Philippines

In 2022, approx. X tons of tea were imported into the Philippines; shrinking by -49.9% compared with the previous year's figure. Overall, imports recorded a perceptible curtailment. The most prominent rate of growth was recorded in 2019 when imports increased by 94% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, tea imports soared to $X in 2022. Over the period under review, total imports indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +49.7% against 2018 indices. The growth pace was the most rapid in 2016 with an increase of 77%. Over the period under review, imports hit record highs at $X in 2017; however, from 2018 to 2022, imports remained at a lower figure.

Imports by Country

Indonesia (X tons), China (X tons) and India (X tons) were the main suppliers of tea imports to the Philippines, together accounting for 48% of total imports. Sri Lanka, Poland, Taiwan (Chinese), Japan, Vietnam, the United States and Singapore lagged somewhat behind, together accounting for a further 44%.

From 2012 to 2022, the biggest increases were recorded for Poland (with a CAGR of +33.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), Poland ($X) and Japan ($X) constituted the largest tea suppliers to the Philippines, together comprising 59% of total imports.

Among the main suppliers, Poland, with a CAGR of +41.3%, recorded 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

In 2022, the average tea import price amounted to $X per ton, growing by 140% against the previous year. In general, the import price posted strong growth. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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 Japan ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+27.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for tea in the world?

China remains the largest tea consuming country worldwide, comprising approx. 40% of total volume. Moreover, tea consumption in China exceeded the figures recorded by the second-largest consumer, India, twofold. Turkey ranked third in terms of total consumption with a 4% share.

What are the largest producers of tea in the world?

China constituted the country with the largest volume of tea production, accounting for 43% of total volume. Moreover, tea production in China exceeded the figures recorded by the second-largest producer, India, twofold. Kenya ranked third in terms of total production with an 8% share.

What are the leading suppliers of tea to the Philippines?

In value terms, Indonesia constituted the largest supplier of tea to the Philippines, comprising 33% of total imports. The second position in the ranking was occupied by China, with a 12% share of total imports. It was followed by Vietnam, with a 12% share.

What are the leading importers of tea from the Philippines?

In value terms, the United States, Bermuda and Vietnam appeared to be the largest markets for tea exported from the Philippines worldwide, with a combined 59% share of total exports. These countries were followed by the United Arab Emirates, Canada, Singapore, South Korea, Sweden and Ireland, which together accounted for a further 23%.

What is the average export price for tea in the Philippines?

In 2020, the average tea export price amounted to $5,022 per ton, growing by 73% against the previous year.

What is the average import price for tea in the Philippines?

The average tea import price stood at $3,081 per ton in 2020, picking up by 14% against the previous year.

This report provides an in-depth analysis of the tea market in the Philippines. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

FCL 667 - Tea

Country coverage:

Philippines

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in the Philippines
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
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This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
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How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. COUNTRIES WITH TOP YIELDS
4. TOP EXPORTING COUNTRIES
5. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION, HARVESTED AREA AND YIELD
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Yield And Growth
16. Exports And Growth
17. Export Prices And Growth
18. Market Size And Growth
19. Per Capita Consumption
20. Imports And Growth
21. Import Prices
22. Production, In Physical Terms, 2012–2023
23. Production, In Value Terms, 2012–2023
24. Area Harvested, 2012–2023
25. Yield, 2012–2023
26. Imports, In Physical Terms, 2012–2023
27. Imports, In Value Terms, 2012–2023
28. Imports, In Physical Terms, By Country, 2023
29. Imports, In Physical Terms, By Country, 2012–2023
30. Imports, In Value Terms, By Country, 2012–2023
31. Import Prices, By Country Of Origin, 2012–2023
32. Exports, In Physical Terms, 2012–2023
33. Exports, In Value Terms, 2012–2023
34. Exports, In Physical Terms, By Country, 2023
35. Exports, In Physical Terms, By Country, 2012–2023
36. Exports, In Value Terms, By Country, 2012–2023
37. Export Prices, By Country Of Destination, 2012–2023