Philippines: Tobacco Market 2024

Tobacco Market Size in the Philippines

The Philippine tobacco market contracted to $X in 2021, reducing by -5.1% against the previous year. Over the period under review, consumption continues to indicate a drastic downturn. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Tobacco Production in the Philippines

In value terms, tobacco production declined to $X in 2021 estimated in export price. In general, production saw a noticeable decrease. The most prominent rate of growth was recorded in 2014 with an increase of 49%. As a result, production reached the peak level of $X. From 2015 to 2021, production growth failed to regain momentum.

Tobacco Exports

Exports from the Philippines

In 2021, shipments abroad of tobacco (smoking tobacco, chewing tobacco, snuff) was finally on the rise to reach X tons for the first time since 2016, thus ending a four-year declining trend. Over the period under review, exports showed a prominent expansion. The growth pace was the most rapid in 2015 with an increase of 206% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

In value terms, tobacco exports soared to $X in 2021. Overall, exports continue to indicate strong growth. The most prominent rate of growth was recorded in 2015 with an increase of 203%. Over the period under review, the exports reached the peak figure at $X in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

Exports by Country

South Korea (X tons), Thailand (X tons) and India (X tons) were the main destinations of tobacco exports from the Philippines, together comprising 72% of total exports. Cambodia, Taiwan (Chinese), Myanmar, Indonesia, Vietnam and Malaysia lagged somewhat behind, together comprising a further 23%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Cambodia (with a CAGR of +211.0%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for tobacco exported from the Philippines were South Korea ($X), Thailand ($X) and India ($X), together accounting for 75% of total exports. These countries were followed by Cambodia, Myanmar, Taiwan (Chinese), Indonesia, Vietnam and Malaysia, which together accounted for a further 20%.

In terms of the main countries of destination, Cambodia, with a CAGR of +180.8%, recorded the highest rates of growth with regard to 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

The average tobacco export price stood at $X per ton in 2021, surging by 5.8% against the previous year. In general, export price indicated a temperate increase from 2012 to 2021: its price increased at an average annual rate of +4.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, tobacco export price decreased by -5.7% against 2019 indices. The pace of growth appeared the most rapid in 2014 an increase of 68% against the previous year. The export price peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Malaysia ($X per ton), while the average price for exports to Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Thailand (+21.4%), while the prices for the other major destinations experienced more modest paces of growth.

Tobacco Imports

Imports into the Philippines

In 2021, the amount of tobacco (smoking tobacco, chewing tobacco, snuff) imported into the Philippines skyrocketed to X tons, increasing by 72% compared with 2020. In general, imports saw strong growth. The pace of growth appeared the most rapid in 2016 with an increase of 146% against the previous year. Imports peaked in 2021 and are likely to see steady growth in years to come.

In value terms, tobacco imports soared to $X in 2021. Overall, imports continue to indicate a prominent expansion. The growth pace was the most rapid in 2017 when imports increased by 338%. Imports peaked in 2021 and are likely to see gradual growth in years to come.

Imports by Country

Malaysia (X tons), Russia (X tons) and Taiwan (Chinese) (X tons) were the main suppliers of tobacco imports to the Philippines, together accounting for 81% of total imports.

From 2012 to 2021, the biggest increases were recorded for Taiwan (Chinese) (with a CAGR of +182.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest tobacco suppliers to the Philippines were Russia ($X), Taiwan (Chinese) ($X) and Malaysia ($X), with a combined 65% share of total imports.

In terms of the main suppliers, Taiwan (Chinese), with a CAGR of +206.9%, recorded the highest growth rate of 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 tobacco import price stood at $X per ton in 2021, growing by 50% against the previous year. In general, the import price saw a buoyant increase. The growth pace was the most rapid in 2017 an increase of 108%. Over the period under review, average import prices attained the peak figure in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was South Korea ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+14.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :