![Report Philippines - Spices - Market Analysis, Forecast, Size, Trends and Insights for 499$](/landing/img/reports/philippines-spices-market-analysis-forecast-size-trends-and-insights.webp)
Philippines - Spices - Market Analysis, Forecast, Size, Trends and Insights
Get instant access to more than 2 million reports, dashboards, and datasets on the IndexBox Platform.
View PricingPhilippines: Spice Market 2024
Spice Market Size in the Philippines
In 2023, the Philippine spice market was finally on the rise to reach $X after five years of decline. In general, consumption recorded a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2017; however, from 2018 to 2023, consumption stood at a somewhat lower figure.
Spice Production in the Philippines
In value terms, spice production rose remarkably to $X in 2023 estimated in export price. In general, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2023, production growth remained at a lower figure.
In 2023, the average spice yield in the Philippines declined slightly to X tons per ha, therefore, remained relatively stable against the year before. In general, the yield, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. As a result, the yield attained the peak level of X tons per ha. From 2014 to 2023, the growth of the average spice yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.
In 2023, the total area harvested in terms of spices production in the Philippines shrank modestly to X ha, flattening at the previous year's figure. Overall, the harvested area saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the harvested area increased by X% against the previous year. The spice harvested area peaked at X ha in 2012; however, from 2013 to 2023, the harvested area stood at a somewhat lower figure.
Spice Exports
Exports from the Philippines
In 2023, overseas shipments of spices decreased by X% to X tons, falling for the third consecutive year after two years of growth. Over the period under review, exports saw a abrupt descent. The growth pace was the most rapid in 2020 when exports increased by X%. As a result, the exports reached the peak of X tons. From 2021 to 2023, the growth of the exports failed to regain momentum.
In value terms, spice exports shrank dramatically to $X in 2023. In general, exports showed a abrupt slump. The most prominent rate of growth was recorded in 2014 when exports increased by X%. As a result, the exports attained the peak of $X. From 2015 to 2023, the growth of the exports remained at a lower figure.
Exports by Country
Thailand (X tons), the United States (X tons) and the UK (X tons) were the main destinations of spice exports from the Philippines, with a combined X% share of total exports.
From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the UK (with a CAGR of X%), while the other leaders experienced more modest paces of growth.
In value terms, Thailand ($X), the United States ($X) and the UK ($X) appeared to be the largest markets for spice exported from the Philippines worldwide, with a combined X% share of total exports.
The UK, with a CAGR of X%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.
Export Prices by Country
The average spice export price stood at $X per ton in 2023, jumping by X% against the previous year. Overall, the export price enjoyed a modest expansion. The pace of growth was the most pronounced in 2014 an increase of X%. As a result, the export price attained the peak level of $X per ton. From 2015 to 2023, the average export prices failed to regain momentum.
There were significant differences in the average prices for the major foreign markets. In 2023, amid the top suppliers, the country with the highest price was Thailand ($X per ton), while the average price for exports to Bangladesh ($X per ton) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to the UK (X%), while the prices for the other major destinations experienced more modest paces of growth.
Spice Imports
Imports into the Philippines
For the fourth year in a row, the Philippines recorded decline in overseas purchases of spices, which decreased by X% to X tons in 2023. In general, imports, however, enjoyed a temperate expansion. The growth pace was the most rapid in 2019 when imports increased by X%. As a result, imports attained the peak of X tons. From 2020 to 2023, the growth of imports remained at a lower figure.
In value terms, spice imports dropped sharply to $X in 2023. Overall, imports, however, showed a resilient expansion. The growth pace was the most rapid in 2019 with an increase of X%. Over the period under review, imports attained the peak figure at $X in 2021; however, from 2022 to 2023, imports remained at a lower figure.
Imports by Country
In 2023, Vietnam (X tons) constituted the largest spice supplier to the Philippines, with a X% share of total imports. Moreover, spice imports from Vietnam exceeded the figures recorded by the second-largest supplier, India (X tons), fourfold. The third position in this ranking was taken by China (X tons), with a X% share.
From 2012 to 2023, the average annual growth rate of volume from Vietnam totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and China (X% per year).
In value terms, Vietnam ($X) constituted the largest supplier of spices to the Philippines, comprising X% of total imports. The second position in the ranking was held by India ($X), with a X% share of total imports. It was followed by China, with a X% share.
From 2012 to 2023, the average annual growth rate of value from Vietnam stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and China (X% per year).
Import Prices by Country
The average spice import price stood at $X per ton in 2023, rising by X% against the previous year. Overall, import price indicated notable growth from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, spice import price increased by X% against 2019 indices. The pace of growth appeared the most rapid in 2020 an increase of X% against the previous year. The import price peaked in 2023 and is expected to retain growth in the near future.
There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was South Korea ($X per ton), while the price for China ($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.
Source: IndexBox Platform
This report provides an in-depth analysis of the spice 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 687 - Pepper
- FCL 689 - Pimento
- FCL 692 - Vanilla
- FCL 693 - Cinnamon (canella)
- FCL 698 - Cloves
- FCL 702 - Nutmeg, mace, cardamoms
- FCL 711 - Anise, badian, fennel
- FCL 720 - Ginger
- FCL 723 - Spices nes
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
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- 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
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- 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- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- 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- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- COUNTRIES WITH TOP YIELDS
- TOP EXPORTING COUNTRIES
- 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- 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, HARVESTED AREA AND YIELD
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
-
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
-
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
- Yield 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
- Area Harvested, 2012–2023
- Yield, 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
Recommended reports
This report provides an in-depth analysis of the spice market in Asia.
This report provides an in-depth analysis of the spice market in the U.S..
This report provides an in-depth analysis of the spice market in China.
This report provides an in-depth analysis of the spice market in the EU.
This report provides an in-depth analysis of the global spice market.