Philippines - Olive Oil (Virgin) - Market Analysis, Forecast, Size, Trends and Insights
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View PricingPhilippines: Virgin Olive Oil Market 2024
Virgin Olive Oil Market Size in the Philippines
The Philippine virgin olive oil market contracted markedly to $X in 2023, dropping by X% 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). Overall, consumption, however, showed a resilient increase. Virgin olive oil consumption peaked at $X in 2017; however, from 2018 to 2023, consumption failed to regain momentum.
Virgin Olive Oil Exports
Exports from the Philippines
In 2021, approx. X kg of virgin olive oil were exported from the Philippines; stabilizing at 2020. In general, exports faced a precipitous contraction. The pace of growth appeared the most rapid in 2014 with an increase of X%. The exports peaked at X tons in 2015; however, from 2016 to 2021, the exports failed to regain momentum.
In value terms, virgin olive oil exports stood at $X in 2021. Overall, exports saw a significant curtailment. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports failed to regain momentum.
Exports by Country
Singapore (X kg), Canada (X kg) and Saudi Arabia (X kg) were the main destinations of virgin olive oil exports from the Philippines, with a combined X% share of total exports.
From 2013 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Singapore (with a CAGR of X%), while the other leaders experienced mixed trend patterns.
It was followed by Saudi Arabia, with a X% share.
From 2013 to 2021, the average annual rate of growth in terms of value to Singapore amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (X% per year) and Saudi Arabia (X% per year).
Export Prices by Country
The average virgin olive oil export price stood at $X per ton in 2021, stabilizing at the previous year. In general, the export price saw a abrupt downturn. The pace of growth was the most pronounced in 2015 when the average export price decreased by X% against the previous year. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Singapore ($X per ton), while the average price for exports to Switzerland ($X per ton) was amongst the lowest.
From 2013 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (X%), while the prices for the other major destinations experienced mixed trend patterns.
Virgin Olive Oil Imports
Imports into the Philippines
In 2023, the amount of virgin olive oil imported into the Philippines plummeted to X tons, waning by X% on the previous year's figure. In general, imports, however, recorded a prominent increase. The pace of growth appeared the most rapid in 2014 when imports increased by X% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2023, imports remained at a lower figure.
In value terms, virgin olive oil imports contracted dramatically to $X in 2023. Over the period under review, imports, however, saw a prominent increase. The growth pace was the most rapid in 2014 when imports increased by X%. Over the period under review, imports hit record highs at $X in 2017; however, from 2018 to 2023, imports stood at a somewhat lower figure.
Imports by Country
Spain (X tons), Italy (X tons) and Turkey (X tons) were the main suppliers of virgin olive oil imports to the Philippines, together comprising X% of total imports. Japan and South Korea lagged somewhat behind, together accounting for a further X%.
From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Japan (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.
In value terms, Spain ($X), Italy ($X) and Turkey ($X) appeared to be the largest virgin olive oil suppliers to the Philippines, with a combined X% share of total imports. South Korea and Japan lagged somewhat behind, together accounting for a further X%.
Japan, with a CAGR of X%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.
Import Prices by Country
In 2023, the average virgin olive oil import price amounted to $X per ton, picking up by X% against the previous year. In general, import price indicated a prominent increase from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, virgin olive oil import price increased by X% against 2016 indices. The most prominent rate of growth was recorded in 2022 when the average import price increased by X% against the previous year. The import price peaked in 2023 and is expected to retain growth in the immediate term.
There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Italy ($X per ton), while the price for Japan ($X per ton) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was attained by South Korea (X%), while the prices for the other major suppliers experienced more modest paces of growth.
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This report provides an in-depth analysis of the virgin olive oil 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 261 - Oil of Olives, Virgin
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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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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- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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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
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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