Preserved Peas Market in the Philippines
Market Overview
The Philippine preserved peas market expanded remarkably to $
in , surging by % 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). In general, consumption saw resilient growth. As a result, consumption attained the peak level of $. From 2015 to , the growth of the market remained at a somewhat lower figure.
In value terms, preserved peas production expanded rapidly to $ in estimated in export price. Over the period under review, production continues to indicate a prominent increase. The most prominent rate of growth was recorded in 2014 when the production volume increased by % against the previous year. As a result, production reached the peak level of $. From 2015 to , production growth remained at a lower figure.
in , surging by % 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). In general, consumption saw resilient growth. As a result, consumption attained the peak level of $. From 2015 to , the growth of the market remained at a somewhat lower figure.In value terms, preserved peas production expanded rapidly to $
in estimated in export price. Over the period under review, production continues to indicate a prominent increase. The most prominent rate of growth was recorded in 2014 when the production volume increased by % against the previous year. As a result, production reached the peak level of $. From 2015 to , production growth remained at a lower figure.Consumption
In , preserved peas consumption in the Philippines expanded modestly to tons, growing by % against . Overall, the total consumption indicated tangible growth from 2007 to : its volume increased at an average annual rate of +% over the last fifteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, consumption increased by +% against 2019 indices. As a result, consumption attained the peak volume of tons. From 2015 to , the growth of the consumption remained at a somewhat lower figure.
The revenue of the preserved peas market in the Philippines rose sharply to $ in , with an increase of % 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). In general, consumption continues to indicate a prominent expansion. As a result, consumption reached the peak level of $. From 2015 to , the growth of the market failed to regain momentum.
, preserved peas consumption in the Philippines expanded modestly to tons, growing by % against . Overall, the total consumption indicated tangible growth from 2007 to : its volume increased at an average annual rate of +% over the last fifteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, consumption increased by +% against 2019 indices. As a result, consumption attained the peak volume of tons. From 2015 to , the growth of the consumption remained at a somewhat lower figure.The revenue of the preserved peas market in the Philippines rose sharply to $
in , with an increase of % 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). In general, consumption continues to indicate a prominent expansion. As a result, consumption reached the peak level of $. From 2015 to , the growth of the market failed to regain momentum.Market Forecast
Driven by increasing demand for preserved peas in the Philippines, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +% for the period from to , which is projected to bring the market volume to tons by the end of .
In value terms, the market is forecast to increase with an anticipated CAGR of +% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .
% for the period from to , which is projected to bring the market volume to tons by the end of .In value terms, the market is forecast to increase with an anticipated CAGR of +
% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .Market Structure
Over the period under review, imports of preserved peas in the Philippines were negligibly small compared to the production volumes. Therefore, the share of imports in the total market was practically nonexistent, both in volume and in value terms. This situation has remained constant over the period under review, which means that domestic producers entirely meet the domestic demand for preserved peas. In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports increased moderately ( percentage point) over the period under review.
, the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports increased moderately ( percentage point) over the period under review.Trade Balance
The Philippines remains a net importer of preserved peas; in physical and value terms, imports consistently exceeded exports from 2007 to . In , there was a significant trade deficit of tons, which was equal to $.
. In , there was a significant trade deficit of tons, which was equal to $.
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