Preserved Asparagus Market in the Philippines
Market Overview
The Philippine preserved asparagus market expanded modestly 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 showed prominent growth. Preserved asparagus consumption peaked at $ in ; however, from to , consumption failed to regain momentum.
In value terms, preserved asparagus production amounted to $ in estimated in export price. In general, production, however, continues to indicate a remarkable increase. The most prominent rate of growth was recorded in 2014 with an increase of % against the previous year. Over the period under review, production hit record highs at $ in ; afterwards, it flattened through 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 showed prominent growth. Preserved asparagus consumption peaked at $ in ; however, from to , consumption failed to regain momentum.In value terms, preserved asparagus production amounted to $
in estimated in export price. In general, production, however, continues to indicate a remarkable increase. The most prominent rate of growth was recorded in 2014 with an increase of % against the previous year. Over the period under review, production hit record highs at $ in ; afterwards, it flattened through to .Consumption
Preserved asparagus consumption in the Philippines amounted to tons in , leveling off at the previous year's figure. The total consumption volume increased at an average annual rate of +% from 2007 to ; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Preserved asparagus consumption peaked at tons in ; afterwards, it flattened through to .
The size of the preserved asparagus market in the Philippines rose 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). Overall, consumption recorded a prominent expansion. Preserved asparagus consumption peaked at $ in ; however, from to , consumption stood at a somewhat lower figure.
tons in , leveling off at the previous year's figure. The total consumption volume increased at an average annual rate of +% from 2007 to ; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Preserved asparagus consumption peaked at tons in ; afterwards, it flattened through to .The size of the preserved asparagus market in the Philippines rose 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). Overall, consumption recorded a prominent expansion. Preserved asparagus consumption peaked at $ in ; however, from to , consumption stood at a somewhat lower figure.Market Forecast
Driven by increasing demand for preserved asparagus in the Philippines, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to decelerate, 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 .Trade Balance
The Philippines remains a net importer of preserved asparagus; 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 $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.
. In , there was a significant trade deficit of tons, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.
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