Updated Nov 13, 2022 09:24

Albumins And Albuminates Market in the Philippines

Market Overview
The Philippine albumins and albuminates market dropped notably to $ in , waning 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). Over the period under review, consumption recorded a perceptible slump. Over the period under review, the market attained the peak level at $ in 2016; however, from 2017 to , consumption remained at a lower figure.


Consumption
In , approx. tons of albumins, albuminates and other derivatives (excluding egg albumin) were consumed in the Philippines; jumping by % compared with the previous year. In general, consumption, however, saw a noticeable decline. Albumins and albuminates consumption peaked at tons in 2016; however, from 2017 to , consumption stood at a somewhat lower figure.

The value of the albumins and albuminates market in the Philippines skyrocketed to $ in , picking up 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). Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. Albumins and albuminates consumption peaked at $ in 2016; however, from 2017 to , consumption stood at a somewhat lower figure.


Market Forecast
Driven by rising demand for albumins and albuminates in the Philippines, the market is expected to start an upward consumption trend over the next eight-year period. The performance of the market is forecast to increase slightly, 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 .


Market Structure
Albumins and albuminates market in the Philippines consists almost entirely of imported products. In recent years, import price have increased sharply. Despite the hike in price, the Philippines relies completely on foreign supplies: the volume of domestic output remains insufficient to satiate market demand. In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports decreased moderately (- percentage point) over the period under review.


Trade Balance
The Philippines remains a net importer of albumins and albuminates; 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.