Report Update Nov 1, 2024

Philippines - Turkey Meat - Market Analysis, Forecast, Size, Trends and Insights

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Philippines: Turkey Meat Market 2024

Turkey Meat Market Size in the Philippines

The Philippine turkey meat market reduced remarkably to $X in 2022, shrinking by -33.1% against the previous year. Overall, consumption faced a deep slump. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Turkey Meat Production in the Philippines

In value terms, turkey meat production fell modestly to $X in 2022 estimated in export price. Overall, production, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the production volume increased by 8.3% against the previous year. Turkey meat production peaked at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

In 2022, the average yield of turkey meat in the Philippines stood at X kg per head, stabilizing at the previous year. Overall, the yield showed a relatively flat trend pattern. The turkey meat yield peaked in 2022 and is expected to retain growth in the near future.

The number of animals slaughtered for turkey meat production in the Philippines was estimated at X heads in 2022, approximately reflecting 2021. In general, the number of producing animals showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the number of producing animals increased by 1.5%. Over the period under review, this number attained the peak level at X heads in 2018; however, from 2019 to 2022, producing animals remained at a lower figure.

Turkey Meat Imports

Imports into the Philippines

In 2022, imports of turkey meat into the Philippines fell remarkably to X tons, declining by -70.2% on the year before. Over the period under review, imports recorded a precipitous descent. The growth pace was the most rapid in 2021 when imports increased by 69%. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, turkey meat imports reduced rapidly to $X in 2022. In general, imports faced a abrupt contraction. The growth pace was the most rapid in 2015 when imports increased by 46%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Canada (X tons), the United States (X tons) and Turkey (X tons) were the main suppliers of turkey meat imports to the Philippines, with a combined 91% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of +177.9%), while purchases for the other leaders experienced a decline.

In value terms, the United States ($X), Canada ($X) and Turkey ($X) appeared to be the largest turkey meat suppliers to the Philippines, with a combined 94% share of total imports.

Among the main suppliers, Turkey, with a CAGR of +392.5%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average turkey meat import price stood at $X per ton in 2022, rising by 61% against the previous year. Overall, import price indicated a resilient increase from 2012 to 2022: its price increased at an average annual rate of +8.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, turkey meat import price increased by +75.0% against 2019 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Brazil ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+77.2%), 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 turkey meat in the world?

The United States constituted the country with the largest volume of turkey meat consumption, accounting for 40% of total volume. Moreover, turkey meat consumption in the United States exceeded the figures recorded by the second-largest consumer, Brazil, fivefold. Germany ranked third in terms of total consumption with a 7.7% share.

What are the largest producers of turkey meat in the world?

The United States remains the largest turkey meat producing country worldwide, comprising approx. 43% of total volume. Moreover, turkey meat production in the United States exceeded the figures recorded by the second-largest producer, Brazil, fivefold. Germany ranked third in terms of total production with a 7.8% share.

What are the leading suppliers of turkey meat to the Philippines?

In value terms, Canada constituted the largest supplier of turkey meat to the Philippines, comprising 70% of total imports. The second position in the ranking was occupied by the United States, with a 28% share of total imports.

What is the average export price for turkey meat in the Philippines?

The average turkey meat export price stood at $3,600 per ton in 2021, flattening at the previous year.

What is the average import price for turkey meat in the Philippines?

In 2021, the average turkey meat import price amounted to $1,155 per ton, which is down by -4.5% against the previous year.

This report provides an in-depth analysis of the turkey meat 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 1080 - Turkey meat

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
Find deeper insights into current market developments
Discover vital success factors affecting the market

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
How to outsource production to other countries
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, PRODUCING ANIMALS 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. Producing Animals Slaughtered, 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