Note: This report includes forecasting data that is based on baseline historical data.
Executive summary
With a population of 115.6 million, the Philippines has been one of the most dynamic economies in the East Asia and Pacific region, rooted in strong consumer demand and supported by a vibrant labor market and robust remittances. The Philippines is the world's 32nd largest economy by nominal gross domestic product (GDP) and 13th largest in Asia.
In 2023, Philippines was a net importer of agri-food and seafood products, with a trade deficit of Can$17.2 billion. Philippine's largest imports were wheat and meslin, oilcake, and milled rice. Philippine's imports of agri-food and seafood products increased by 7.2% annually over 2019 to 2023.
Canada was Philippine's tenth largest supplier of agri-food and seafood products in 2023, with Can$652.3 million (2.5% market share). In 2023. Philippines had a trade deficit with Canada in agri-food and seafood products of Can$489.6 million, increasing 33.9% annually over 2019 to 2023. Top Canadian agri-food and seafood exports to Philippines in 2023 were wheat and meslin and frozen pork.
Packaged food sales increased by 7.8% annually over 2019 to 2023, forecast to grow 7.3% over 2024 to 2028. The best performing categories are meat alternatives, dairy, and savoury snacks.
Country profile
With a population of 115.6 million, the Philippines has been one of the most dynamic economies in the East Asia and Pacific region. With increasing urbanization, a growing middle class, and a large and young population, the Philippines' economic dynamism is rooted in strong consumer demand supported by a vibrant labor market and robust remittances.
In 2023, the Philippines' real GDP growth slowed to 5.2%, which is among the top growth performers in the region, surpassing the Asia Pacific average. The Philippines is the world's 32nd largest economy by nominal GDP and 13th largest in Asia according to the International Monetary Fund. The economy is projected to accelerate in 2024, with a forecast compound annual growth rate of 6.1% over 2023-2028.
Production
In 2022, Philippines' most produced crop was sugar cane, with 584 thousand tonnes produced, followed by pineapples, bananas, and papayas.
| Crops | 2018 | 2019 | 2020 | 2021 | 2022 | CAGR* % 2018-2022 |
|---|---|---|---|---|---|---|
| Sugar cane | 565,268 | 546,318 | 611,370 | 625,311 | 584,354 | 0.8 |
| Pineapples | 412,595 | 416,042 | 404,222 | 426,150 | 430,351 | 1.1 |
| Bananas | 333,485 | 325,432 | 317,450 | 318,686 | 319,147 | −1.1 |
| Papayas | 217,319 | 213,769 | 209,848 | 214,147 | 210,706 | −0.8 |
| Watermelons | 179,886 | 165,958 | 171,413 | 158,960 | 177,432 | −0.3 |
| Potatoes | 155,093 | 154,452 | 157,450 | 157,313 | 162,225 | 1.1 |
| Cabbages | 153,924 | 163,189 | 161,843 | 160,133 | 160,008 | 1.0 |
| Pumpkins | 139,058 | 136,592 | 134,626 | 135,148 | 136,497 | −0.5 |
| Tomatoes | 133,881 | 136,486 | 134,971 | 137,436 | 136,196 | 0.4 |
| Carrots and turnips | 135,327 | 135,154 | 135,548 | 137,404 | 134,122 | −0.2 |
|
Source: FAOSTAT Agricultural Production, 2024 *CAGR: Compound Annual Growth Rate |
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With 1.5 million tonnes in 2022, chicken was the top meat produce for the past five years, growing 1.0% annually since 2016. Pork ranked second, followed by beef, with production of both declining.
| Meat | 2018 | 2019 | 2020 | 2021 | 2022 | CAGR* % 2018-2022 |
|---|---|---|---|---|---|---|
| Chicken | 1,380 | 1,450 | 1,305 | 1,343 | 1,437 | 1.0 |
| Pork | 1,601 | 1,585 | 1,115 | 1,000 | 1,020 | −10.7 |
| Beef and veal | 203 | 202 | 196 | 183 | 183 | −2.6 |
|
Source: FAOSTAT Agricultural Production, 2022 *CAGR: Compound Annual Growth Rate |
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Live chickens was the top livestock production in the Phlippines, reaching 185.1 million heads while live ducks reached 12.0 million heads in 2022.
| Livestock | 2018 | 2019 | 2020 | 2021 | 2022 | CAGR* % 2018-2022 |
|---|---|---|---|---|---|---|
| Chickens | 175.8 | 186.4 | 178.3 | 176.8 | 185.1 | 1.3 |
| Ducks | 11.2 | 11.6 | 11.8 | 12.5 | 12.0 | 1.7 |
| Swine/pigs | 12.6 | 12.7 | 12.8 | 9.9 | 9.4 | −7.1 |
| Goats | 3.7 | 3.8 | 3.8 | 3.9 | 3.9 | 1.3 |
| Buffalo | 2.9 | 2.9 | 2.9 | 2.8 | 2.8 | −0.9 |
|
Source: FAOSTAT Agricultural Production, 2024 *CAGR: Compound Annual Growth Rate |
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Trade
In 2023, Philippines was a net importer of agri-food and seafood products, with a trade deficit of Can$17.2 billion. Philippine's largest imports were wheat and meslin, oilcake, and milled rice. Wheat and frozen pork imports from Canada make up 9.2% and 25.2% of the Philippines total imports of those products.
| HS codes | Commodity | Import value Can$ millions | Top suppliers and market share | Canada's share % | ||
|---|---|---|---|---|---|---|
| 1 | 2 | 3 | ||||
| 100199 | Wheat and meslin | 2,693.8 | Australia: 48.0 | United States: 40.4 | Canada: 9.2 | 9.2 |
| 230400 | Oilcake | 2,243.5 | United States: 83.0 | Argentina 15.8 | India: 0.8 | 0.0 |
| 100630 | Milled rice | 2,020.3 | Vietnam: 81.9 | Thailand: 10.5 | Myanmar: 3.7 | |
| 210690 | Food preparations, nowhere else specified | 1,323.1 | Singapore: 36.5 | Indonesia 10.4 | China: 9.1 | 2.1 |
| 151190 | Palm oil | 1,176.5 | Indonesia: 52.0 | Malaysia: 47.9 | Singapore: 0.0 | |
| 170199 | Cane sugar | 671.8 | Thailand: 86.0 | Malaysia: 7.0 | Vietnam: 5.2 | |
| 040210 | Skim milk powder | 646.8 | United States: 63.8 | New Zealand: 10.1 | Belgium: 7.3 | 1.4 |
| 020714 | Poultry offal | 615.3 | Brazil: 52.2 | United States: 40.5 | Canada: 3.7 | 3.7 |
| 020230 | Frozen beef | 591.4 | Brazil: 39.4 | India: 24.2 | Australia: 18.7 | 0.6 |
| 020329 | Frozen pork | 591.4 | Brazil: 36.1 | Canada: 25.5 | Spain: 8.3 | 25.5 |
| Source: Global Trade Tracker, 2024 | ||||||
The top 5 suppliers of agri-food and seafood products to Philippines were the US (19.8%), Vietnam (10.4%), China (9.4%), Indonesia (9.2%), and Australia (8.1%). Philippine's imports of agri-food and seafood products increased by 7.2% annually over 2019 to 2023.
Canada was Philippine's tenth largest supplier of agri-food and seafood products in 2023, with Can$652.3 million (2.5% market share). In 2023. Philippines had a trade deficit with Canada in agri-food and seafood products of Can$489.6 million, increasing 33.9% annually over 2019 to 2023. Top Canadian agri-food and seafood exports to Philippines in 2023 were wheat and meslin and frozen pork.
| HS code | Products | 2019 | 2020 | 2021 | 2022 | 2023 | CAGR* % 2019-2023 |
|---|---|---|---|---|---|---|---|
| Total | Total | 18,472.9 | 19,152.9 | 22,754.6 | 26,930.4 | 25,239.4 | 8.1 |
| 100199 | Wheat and meslin (excluding seed for sowing, and durum wheat) | 2,041.0 | 1,991.3 | 2,202.2 | 2,848.3 | 2,475.1 | 4.9 |
| 120810 | Soy bean flour | 700.1 | 1,026.6 | 926.7 | 900.4 | 1,521.3 | 21.4 |
| 100630 | Milled rice | 714.0 | 1,116.1 | 1,520.6 | 1,338.0 | 1,437.5 | 19.1 |
| 210690 | Food preparations | 1,056.3 | 1,144.4 | 1,176.3 | 1,336.3 | 1,368.5 | 6.7 |
| 151P90 | Palm oil | 748.6 | 1,010.1 | 1,546.7 | 1,848.6 | 1,062.0 | 9.1 |
| 020329 | Frozen pork | 361.5 | 309.8 | 858.3 | 1,093.1 | 1,030.9 | 30.0 |
| 020230 | Frozen beef | 528.5 | 575.6 | 714.6 | 952.9 | 667.4 | 6.0 |
| 040210 | Milk powder | 512.7 | 650.4 | 672.9 | 885.7 | 553.1 | 1.9 |
| 170199 | Sugar cane | 148.2 | 81.8 | 94.9 | 288.9 | 545.6 | 38.5 |
| 020714 | Frozen edible offal | 328.3 | 287.4 | 490.2 | 701.4 | 535.0 | 13.0 |
|
Source: Global Trade Tracker, 2024 *CAGR: Compound Annual Growth Rate |
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Retail sales
Packaged food sales increased by 7.8% annually over 2019 to 2023, forecast to grow 7.3% over 2024 to 2028. The best performing categories are meat alternatives, dairy, and savoury snacks.
| Categories | 2019 | 2023 | CAGR* % 2019-2023 | 2024 | 2028 | CAGR* % 2024-2028 |
|---|---|---|---|---|---|---|
| Total | 12,770.3 | 17,249.7 | 7.8 | 18,342.3 | 24,315.7 | 7.3 |
| Meat and seafood alternatives | 2,044.4 | 3,257.6 | 12.4 | 3,500.0 | 4,572.9 | 6.9 |
| Dairy | 2,090.1 | 2,941.3 | 8.9 | 3,133.3 | 4,264.8 | 8.0 |
| Savoury snacks | 1,541.4 | 1,848.0 | 4.6 | 1,973.5 | 2,790.9 | 9.1 |
| Rice, pasta and noodles | 1,005.6 | 1,537.9 | 11.2 | 1,638.8 | 2,131.5 | 6.8 |
| Edible oils | 1,046.2 | 1,533.1 | 10.0 | 1,593.0 | 1,925.3 | 4.9 |
| Sauces, dips and condiments | 841.7 | 1,220.5 | 9.7 | 1,310.2 | 1,710.0 | 6.9 |
| Baked goods | 956.4 | 1,195.8 | 5.7 | 1,276.7 | 1,701.6 | 7.4 |
| Baby food | 866.7 | 944.3 | 2.2 | 1,004.5 | 1,274.0 | 6.1 |
| Confectionery | 747.2 | 792.6 | 1.5 | 827.9 | 1,119.3 | 7.8 |
| Sweet biscuits, snack bars and fruit snacks | 685.6 | 771.4 | 3.0 | 790.9 | 1,015.4 | 6.4 |
| Ice cream | 381.6 | 409.3 | 1.8 | 432.4 | 663.0 | 11.3 |
| Processed fruit and vegetables | 227.7 | 341.8 | 10.7 | 369.8 | 496.2 | 7.6 |
| Meals and soups | 114.5 | 173.5 | 10.9 | 187.9 | 250.3 | 7.4 |
| Breakfast cereals | 112.6 | 149.6 | 7.4 | 161.1 | 208.9 | 6.7 |
| Sweet spreads | 58.9 | 88.5 | 10.7 | 95.7 | 126.2 | 7.2 |
| Plant-based dairy | 49.7 | 44.5 | −2.8 | 46.6 | 65.4 | 8.8 |
|
Source: GlobalData, 2024 *CAGR: Compound Annual Growth Rate |
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For more information
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Resources
- Euromonitor international: Economy, Finance and Trade: the Philippines, May 2024
- Global Trade Tracker, 2024
- FAOSTAT Agricultural Production, 2024
Market Overview – The Philippines
Global Analysis Report
Prepared by: Kris Clipsham, Market Analyst
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