Philippines: Tomato Ketchup Market 2024

Tomato Ketchup Market Size in the Philippines

The Philippine tomato ketchup market rose remarkably to $X in 2022, growing by 5.8% against the previous year. Overall, the total consumption indicated perceptible growth 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, consumption decreased by -4.2% against 2020 indices. Tomato ketchup consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Tomato Ketchup Production in the Philippines

In value terms, tomato ketchup production rose significantly to $X in 2022 estimated in export price. In general, the total production indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +5.1% 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 -4.8% against 2020 indices. The most prominent rate of growth was recorded in 2017 with an increase of 61% against the previous year. Tomato ketchup production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Tomato Ketchup Exports

Exports from the Philippines

In 2022, tomato ketchup exports from the Philippines surged to X tons, jumping by 153% against the year before. Over the period under review, exports enjoyed strong growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, tomato ketchup exports soared to $X in 2022. Overall, exports posted strong growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X tons), the United Arab Emirates (X tons) and Singapore (X tons) were the main destinations of tomato ketchup exports from the Philippines, with a combined 59% share of total exports. Canada, Australia, New Zealand, Qatar, Saudi Arabia, Guam and China lagged somewhat behind, together comprising a further 32%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by China (with a CAGR of +61.5%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for tomato ketchup exported from the Philippines were Singapore ($X), the United States ($X) and the United Arab Emirates ($X), with a combined 63% share of total exports. Canada, Australia, New Zealand, Qatar, Saudi Arabia, China and Guam lagged somewhat behind, together accounting for a further 28%.

Among the main countries of destination, China, with a CAGR of +63.8%, saw the highest growth rate of 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

In 2022, the average tomato ketchup export price amounted to $X per ton, increasing by 13% against the previous year. Overall, export price indicated a tangible increase from 2012 to 2022: its price increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, tomato ketchup export price decreased by -0.1% against 2017 indices. The most prominent rate of growth was recorded in 2017 when the average export price increased by 51% against the previous year. As a result, the export price attained the peak level of $X per ton; afterwards, it flattened through to 2022.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while the average price for exports to Guam ($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 Singapore (+10.3%), while the prices for the other major destinations experienced more modest paces of growth.

Tomato Ketchup Imports

Imports into the Philippines

In 2022, supplies from abroad of tomato ketchup and tomato sauces was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Overall, imports, however, recorded a relatively flat trend pattern. Over the period under review, imports hit record highs at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, tomato ketchup imports surged to $X in 2022. Over the period under review, imports saw a relatively flat trend pattern. Imports peaked at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, the United States (X tons) constituted the largest supplier of tomato ketchup to the Philippines, accounting for a 45% share of total imports. Moreover, tomato ketchup imports from the United States exceeded the figures recorded by the second-largest supplier, India (X tons), fourfold. Mexico (X tons) ranked third in terms of total imports with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States totaled +8.4%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+49.3% per year) and Mexico (+44.8% per year).

In value terms, the United States ($X) constituted the largest supplier of tomato ketchup and tomato sauces to the Philippines, comprising 39% of total imports. The second position in the ranking was taken by Mexico ($X), with a 19% share of total imports. It was followed by India, with a 13% share.

From 2012 to 2022, the average annual growth rate of value from the United States amounted to +6.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (+49.7% per year) and India (+50.5% per year).

Import Prices by Country

The average tomato ketchup import price stood at $X per ton in 2022, rising by 5.3% against the previous year. Over the last decade, it increased at an average annual rate of +1.5%. The pace of growth appeared the most rapid in 2020 an increase of 16%. As a result, import price reached the peak level of $X per ton. From 2021 to 2022, the average import prices remained at a lower figure.

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 Mexico ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+5.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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