Tobacco Market Overview in the Philippines
Market Overview
In 2019, the Philippine tobacco market was finally on the rise to reach $
for the first time since 2013, thus ending a five-year declining trend. In general, consumption recorded a mild descent. Tobacco consumption peaked at $ in 2007; however, from 2008 to 2019, consumption stood at a somewhat lower figure.
In value terms, tobacco production soared to $ in 2019 estimated in export prices. Overall, production showed a mild slump. The pace of growth appeared the most rapid in 2011 with an increase of % against the previous year. Over the period under review, production hit record highs at $ in 2014; however, from 2015 to 2019, production stood at a somewhat lower figure.
for the first time since 2013, thus ending a five-year declining trend. In general, consumption recorded a mild descent. Tobacco consumption peaked at $ in 2007; however, from 2008 to 2019, consumption stood at a somewhat lower figure.In value terms, tobacco production soared to $
in 2019 estimated in export prices. Overall, production showed a mild slump. The pace of growth appeared the most rapid in 2011 with an increase of % against the previous year. Over the period under review, production hit record highs at $ in 2014; however, from 2015 to 2019, production stood at a somewhat lower figure.Consumption
Tobacco consumption in the Philippines reduced to tonnes in 2019, waning by -% against 2018 figures. Over the period under review, consumption showed a mild contraction. The pace of growth was the most pronounced in 2011 when the consumption volume increased by % y-o-y. Over the period under review, consumption reached the peak volume at tonnes in 2007; however, from 2008 to 2019, consumption failed to regain the momentum.
The revenue of the tobacco market in the Philippines surged to $ in 2019, 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). Overall, consumption continues to indicate a mild setback. Tobacco consumption peaked at $ in 2007; however, from 2008 to 2019, consumption stood at a somewhat lower figure.
tonnes in 2019, waning by -% against 2018 figures. Over the period under review, consumption showed a mild contraction. The pace of growth was the most pronounced in 2011 when the consumption volume increased by % y-o-y. Over the period under review, consumption reached the peak volume at tonnes in 2007; however, from 2008 to 2019, consumption failed to regain the momentum.The revenue of the tobacco market in the Philippines surged to $
in 2019, 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). Overall, consumption continues to indicate a mild setback. Tobacco consumption peaked at $ in 2007; however, from 2008 to 2019, consumption stood at a somewhat lower figure.Market Forecast
Depressed by shrinking demand for tobacco in the Philippines, the market is expected to continue its downward consumption trend over the next decade. The performance of the market is forecast to contract with an anticipated CAGR of -% for the period from 2019 to , which is projected to depress the market volume to tonnes by the end of .
% for the period from 2019 to , which is projected to depress the market volume to tonnes by the end of .Market Structure
Driven by a growing demand, the share of imports in total supply in the Philippines increased significantly over the last twelve-year period (from % to %).
% to %).Trade Balance
Those figures reflect the fact that neither imports nor exports don’t dominate the trade balance, and the country may export not only the product manufactured domestically, but also re-export some previously imported goods.
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