Note: This report includes forecasting data that is based on baseline historical data.
Executive summary
The Philippines, a significant fishing nation and the world's second-largest archipelagic state, ranked 11th globally in fish production in 2022 (Food and Agriculture Organization (FAO), 2024). Seafood is a dietary staple, contributing 42.2% of animal protein and 18.3% of total protein intake. However, seafood consumption has declined, particularly among low-income groups, due to rising food prices, population growth, unsustainable development, natural disasters, and pandemic impacts (MRAG Asia Pacific, 2022).
In 2023, the Philippines imported US$892.7 million worth of fish and seafood, ranking 11th in the Indo-Pacific region. Top imports included frozen skipjack, mackerel, and anchovies, primarily from China, Vietnam, and Indonesia. Canada, although a smaller supplier, saw significant growth in its exports to the Philippines, particularly frozen lobsters.
The Philippines was Canada's 13th largest export market for fish and seafood the Indo-Pacific region in 2023, to which Canada exported US$2.9 million, accounting for 0.2% of Canada's fish and seafood exports in the region. Canada's fish and seafood exports to the Philippines expanded by a compound annual growth rate (CAGR) of 66.1% between 2019 and 2023. The dominant product category was frozen lobsters. Frozen pacific salmon emerged as a new export category in 2023.
The retail sales value of fish and seafood grew from US$5.6 billion in 2019 to US$8.4 billion in 2023 (CAGR of 10.6%). Fresh fish and seafood led this growth, with crustaceans showing the highest growth rate. Despite a traditional preference for fresh food, the pandemic increased the acceptance of frozen options. Consumers are also more informed about premium and sustainable foods, driven by social media and a desire to replicate restaurant experiences at home.
Canada aims to strengthen its position in the Philippine market through various programs and the establishment of an Indo-Pacific Agriculture and Agri-Food Office in Manila. Negotiations for a free trade agreement are ongoing, which could further enhance trade opportunities.
The competitive landscape is consolidating, with Century Pacific Food Inc dominating the processed seafood market. Smaller brands have seen declines, while some maintain stable shares. From 2019 to 2023, 407 new packaged fish and seafood products were launched, emphasizing natural ingredients and convenience.
Market trends
With more than 7,100 islands, the Philippines is a major fishing nation and the world's second-largest archipelagic state (FAO, 2024). In 2022, the Philippines ranked 11th globally in fish production. Fish and seafood products are a staple in Filipino diets, second only to rice. Seafood makes up 42.2% of animal protein and 18.3% of total protein intake, with the highest consumption in the Zamboanga Peninsula, Western Visayas, and Caraga (MRAG Asia Pacific, 2022).
The Philippines' seafood consumption has been declining, with the poorest Filipinos consuming the least. Decreasing food security and fish consumption, particularly among low-income and rural households, is due to rising food prices, population growth, unsustainable development, natural disasters, and pandemic effects (MRAG Asia Pacific, 2022). On average, each Filipino consumes approximately 93.90 grams of fish and seafood products daily, constituting 11.68% of their total food intake. This consumption is notably higher than that of meat and meat products by 63.3% and poultry by 205.86% (Philippine Department of Agriculture Bureau of Fisheries and Aquatic Resources, 2023). In 2021, the average Filipino consumed 34.28 kilograms of fish and seafood products per year, including 23.34 kilograms of fresh fish, 2.86 kilograms of dried fish, 3.89 kilograms of processed fish, 2.88 kilograms of crustaceans and mollusks, and 1.31 kilograms of other types (The Southeast Asian Fisheries Development Center, 2022).
From 2019 to 2023, fish and seafood consumption in the Philippines increased from US$124.7 to US$157.0 per capita, reflecting a CAGR of 5.9%. This growth outpaced the overall rise in food consumption, which had a CAGR of 5.8%. Looking ahead, from 2023 to 2028, fish and seafood consumption is expected to continue its upward trend, growing at a CAGR of 6.8% and reaching US$218.0 per capita. This projected growth rate is slightly higher than the overall food consumption CAGR of 6.7% for the same period. These trends indicate a robust and increasing demand for fish and seafood in the Philippines, driven by rising disposable incomes and a growing preference for these products within the diet.
| Category | 2019 | 2023 | CAGR* % 2019-2023 | 2024 | 2028 | CAGR* % 2023-2028 |
|---|---|---|---|---|---|---|
| Food | 769.8 | 963.5 | 5.8 | 1,021.1 | 1,330.0 | 6.7 |
| Meat | 142.8 | 182.0 | 6.3 | 192.8 | 252.1 | 6.7 |
| Fish and Seafood | 124.7 | 157.0 | 5.9 | 166.6 | 218.0 | 6.8 |
| Disposable Income | 2,534.2 | 2,740.2 | 2.0 | 2,956.5 | 3,983.1 | 7.8 |
|
Source: Euromonitor International, 2024 *CAGR: Compound Annual Growth Rate |
||||||
Filipino consumers prefer fresh fish and seafood products, leading to a predominantly fresh and chilled fish market, with some offerings available in frozen forms. Additionally, fish and seafood products are diversified into value-added forms such as dried, smoked, and canned/bottled variants. In the Philippines, milkfish and tilapia are prominent staples in the domestic market, with both species experiencing high daily sales in wet markets nationwide. Milkfish is predominantly sold in fresh chilled form, while tilapia is marketed as whole fish in live, fresh, or frozen forms, with some processed variants available. Despite being less popular, shrimps are marketed fresh or in various processed forms, primarily supplied to restaurants and food services. Tuna, another common fish, is sold fresh, as specialty cuts, and canned, with a significant portion processed. While tilapia and tuna are largely consumed locally, shrimps show a slight decrease in supply but an increasing percentage share in the domestic market (Philippine Department of Agriculture Bureau of Fisheries and Aquatic Resources, 2021).
In the Philippines' domestic and international fisheries trade, significant challenges persist. These include limited marketing networks, hindering efficient distribution from high-yield regions to areas with deficient fish supplies, exacerbated by inadequate transportation services resulting in high distribution costs. Additionally, outdated trading facilities further impede streamlined operations. The marketability of fish and seafood products faces hurdles due to limitations in variety, labeling, and packaging, while market prices fluctuate unpredictably. Cumbersome export-import procedures add to operational complexities, compounded by the struggle to meet stringent regulatory standards for food quality and safety, such as those set by HACCP, the US, the EU, and others (Jennifer Viron, 2020). To tackle these obstacles, the Philippines has devised its latest national fisheries development plan to transition its fisheries industry into a high-growth, sustainable, and competitive sector (Philippine Department of Agriculture Bureau of Fisheries and Aquatic Resources, 2021).
Trade overview
The Indo-Pacific region has become a key market for Canadian fish and seafood exporters, driven by its cultural emphasis on seafood and rising middle-class incomes boosting demand for high-quality products (EDC, 2024). Beyond China, key Indo-Pacific markets for Canadian fish and seafood exports include Japan, South Korea, Thailand, Hong Kong, and Vietnam, with emerging opportunities in the Philippines.
In 2023, the Philippines imported fish and seafood worth US$892.7 million, making it the 11th largest importer in the Indo-Pacific region. From 2019 to 2023, Philippine imports grew at a CAGR of 6.3%, accounting for 1.4% of the region's total imports in 2023.
| Region | 2019 | 2020 | 2021 | 2022 | 2023 | CAGR* % 2019-2023 | Share % in 2023 |
|---|---|---|---|---|---|---|---|
| Indo-pacific | 57,494.1 | 50,683.4 | 55,890.6 | 66,603.6 | 63,360.4 | 2.5 | 100.0 |
| China | 18,413.6 | 15,267.6 | 17,760.3 | 23,347.1 | 23,245.8 | 6.0 | 36.7 |
| Japan | 15,564.6 | 13,577.9 | 14,386.4 | 15,432.2 | 13,847.2 | −2.9 | 21.9 |
| South Korea | 5,717.6 | 5,537.8 | 6,039.6 | 6,809.3 | 6,211.6 | 2.1 | 9.8 |
| Thailand | 3,867.6 | 3,741.5 | 3,866.2 | 4,493.7 | 4,139.9 | 1.7 | 6.5 |
| Hong Kong | 3,603.4 | 3,140.5 | 3,771.6 | 3,670.0 | 3,886.0 | 1.9 | 6.1 |
| Vietnam | 2,400.2 | 1,987.3 | 1,925.4 | 2,974.2 | 2,778.4 | 3.7 | 4.4 |
| Taiwan | 1,752.5 | 1,809.9 | 1,836.2 | 2,212.1 | 1,972.5 | 3.0 | 3.1 |
| Australia | 1,609.7 | 1,505.9 | 1,648.3 | 1,981.2 | 1,741.7 | 2.0 | 2.7 |
| Malaysia | 1,151.4 | 1,156.4 | 1,344.0 | 1,608.9 | 1,491.9 | 6.7 | 2.4 |
| Singapore | 1,166.0 | 1,012.7 | 1,135.6 | 1,300.0 | 1,288.9 | 2.5 | 2.0 |
| Philippines | 698.5 | 509.3 | 695.6 | 854.4 | 892.7 | 6.3 | 1.4 |
| Indonesia | 419.4 | 394.9 | 464.9 | 681.1 | 632.0 | 10.8 | 1.0 |
| Macao | 189.5 | 98.4 | 165.9 | 369.9 | 463.1 | 25.0 | 0.7 |
| New Zealand | 255.4 | 259.8 | 259.4 | 269.4 | 273.4 | 1.7 | 0.4 |
| India | 175.9 | 219.5 | 224.7 | 263.8 | 250.5 | 9.3 | 0.4 |
|
Source: Global Trade Tracker, 2024 *CAGR: Compound Annual Growth Rate Note: Canada's Indo-Pacific Strategy comprises 40 countries and economies: Australia, Bangladesh, Bhutan, Brunei, Cambodia, China, India, Indonesia, Japan, Laos, Malaysia, Maldives, Mongolia, Myanmar, Nepal, New Zealand, North Korea, Pakistan, the Philippines, South Korea, Singapore, Sri Lanka, Taiwan, Thailand, Timor Leste, Vietnam and, the Pacific Island Countries (14). |
|||||||
In 2023, global fish and seafood exports to the Philippines were valued at US$1.1 billion, with the top suppliers being China (65.6%), Vietnam (9.5%), and Indonesia (4.4%). Despite an overall slight decline (CAGR −0.8%) from 2019 to 2023, exports to the Philippines from Indonesia (22.2%), Spain (22.3%), and Thailand (14.3%) showed notable growth. Other key suppliers included Chile, Taiwan, Japan, South Korea, and Norway. Canada, although ranked 18th, saw significant growth with a CAGR of 65.6%, reaching US$2.9 million in 2023.
| Market | 2019 | 2020 | 2021 | 2022 | 2023 | CAGR* % 2019-2023 | Share % in 2023 |
|---|---|---|---|---|---|---|---|
| World | 1,152.0 | 1,074.0 | 1,450.0 | 1,382.8 | 1,116.9 | −0.8 | 100.0 |
| China | 625.5 | 628.5 | 1,016.3 | 998.0 | 733.2 | 4.1 | 65.6 |
| Vietnam | 93.3 | 46.5 | 83.2 | 104.2 | 106.4 | 3.3 | 9.5 |
| Indonesia | 21.8 | 20.4 | 20.7 | 22.5 | 48.6 | 22.2 | 4.4 |
| Chile | 22.6 | 13.4 | 17.7 | 38.2 | 30.7 | 8.0 | 2.7 |
| Thailand | 17.0 | 25.2 | 20.6 | 19.6 | 28.9 | 14.3 | 2.6 |
| Taiwan | 36.9 | 30.4 | 29.1 | 42.9 | 26.0 | −8.4 | 2.3 |
| Japan | 17.4 | 21.0 | 21.7 | 21.8 | 25.9 | 10.4 | 2.3 |
| South Korea | 20.5 | 24.0 | 28.1 | 38.5 | 24.3 | 4.4 | 2.2 |
| Norway | 14.2 | 8.7 | 13.2 | 21.7 | 20.6 | 9.7 | 1.8 |
| Spain | 6.4 | 1.6 | 0.9 | 1.6 | 14.3 | 22.3 | 1.3 |
| Canada (18th) | 0.4 | 0.3 | 0.2 | 0.8 | 2.9 | 65.6 | 0.3 |
|
Source: Global Trade Tracker, 2024 *CAGR: Compound Annual Growth Rate |
|||||||
The Philippines' top 3 fish and seafood imports in 2023
The top five fish and seafood products accounted for 59.7% of the Philippines' total fish and seafood imports in 2023. China, Vietnam, Papua New Guinea, Indonesia, and the Marshall Islands were key suppliers, dominating various segments of the market.
Frozen skipjack
Frozen skipjack was the Philippines' largest fish and seafood import in 2023. The Philippines' imports of the frozen skipjack experienced a CAGR of 5.6% during 2019-2023, reaching US$182.9 million in 2023. Papua New Guinea was the largest supplier. Marshall Islands and Micronesia saw substantial growth.
Frozen mackerel
Frozen mackerel was the Philippines' 2nd largest fish and seafood import in 2023. Frozen mackerel imports showed a CAGR of 17.6%, reaching US$115.7 million in 2023. China dominated the market throughout the period, with substantial growth from 2019 to 2023.
Frozen anchovies
Frozen anchovies was the Philippines' 3rd largest fish and seafood import in 2023. Imports of frozen anchovies reached US$106.5 million in 2023. Vietnam emerged as the top supplier, with substantial growth in market share. China also played a significant role in supplying this product.
| Product / supplier | 2019 | 2020 | 2021 | 2022 | 2023 | CAGR* % 2019-2023 | Share % in 2023 |
|---|---|---|---|---|---|---|---|
| Total fish and seafood imports | 698.5 | 509.3 | 695.6 | 854.4 | 892.7 | 6.3 | 100.0 |
| Frozen skipjack | 147.0 | 149.9 | 169.9 | 186.5 | 182.9 | 5.6 | 20.5 |
| Papua New Guinea | 84.5 | 72.7 | 88.1 | 76.4 | 56.9 | −9.4 | 31.1 |
| Marshall Islands | 4.6 | 5.2 | 3.5 | 2.8 | 26.9 | 56.0 | 14.7 |
| Micronesia | 1.4 | 4.3 | 4.2 | 21.1 | 18.8 | 90.4 | 10.3 |
| Indonesia | 8.3 | 1.3 | 3.4 | 2.1 | 16.9 | 19.3 | 9.2 |
| Spain | 0.6 | 0.5 | 0.0 | 0.0 | 11.6 | 106.8 | 6.4 |
| Frozen mackerel | 60.5 | 44.3 | 50.7 | 94.9 | 115.7 | 17.6 | 13.0 |
| China | 42.5 | 22.0 | 31.4 | 76.8 | 91.3 | 21.1 | 79.0 |
| Japan | 4.3 | 12.1 | 11.4 | 10.0 | 14.3 | 34.6 | 12.3 |
| South Korea | 4.4 | 2.7 | 2.9 | 2.8 | 3.5 | −5.6 | 3.0 |
| New Zealand | 4.0 | 2.9 | 2.6 | 2.2 | 3.2 | −5.1 | 2.8 |
| Viet-Nam | 2.3 | 2.9 | 2.2 | 2.6 | 2.0 | −3.4 | 1.8 |
| Frozen anchovies, etc. | 79.1 | 73.6 | 106.5 | N/C | 11.9 | ||
| Vietnam | 37.1 | 38.6 | 71.9 | N/C | 67.5 | ||
| China | 40.5 | 33.0 | 29.7 | N/C | 27.9 | ||
| Malaysia | 0.5 | 1.1 | 4.0 | N/C | 3.7 | ||
| Indonesia | 0.9 | 0.4 | 0.8 | N/C | 0.8 | ||
| India | 0.0 | 0.0 | 0.1 | N/C | 0.1 | ||
| Cuttle fish and squid, frozen | 70.4 | 69.8 | 66.7 | N/C | 7.5 | ||
| China | 63.2 | 64.0 | 56.6 | N/C | 84.7 | ||
| United States | 2.4 | 2.5 | 5.0 | N/C | 7.6 | ||
| Vietnam | 3.3 | 1.9 | 3.8 | N/C | 5.7 | ||
| Chile | 0.2 | 0.3 | 0.8 | N/C | 1.2 | ||
| Peru | 1.0 | 0.6 | 0.3 | N/C | 0.5 | ||
| Frozen yellowfin tunas | 107.4 | 65.0 | 76.6 | 81.1 | 60.9 | −13.2 | 6.8 |
| Papua New Guinea | 77.5 | 27.5 | 46.8 | 39.7 | 40.4 | −15.0 | 66.3 |
| Nauru | 1.2 | 1.0 | 1.6 | 4.1 | 5.6 | 45.6 | 9.1 |
| Marshall Islands | 2.8 | 0.6 | 5.8 | 0.1 | 2.6 | −1.5 | 4.3 |
| Spain | 0.3 | 0.1 | 0.0 | 0.6 | 2.1 | 67.8 | 3.4 |
| Micronesia | 1.7 | 11.4 | 2.7 | 3.1 | 1.9 | 3.8 | 3.2 |
|
Source: Global Trade Tracker, 2024 *CAGR: Compound Annual Growth Rate N/C: Not calculable |
|||||||
Among the Philippines' top 10 fast-growing fish and seafood imports, significant growth was observed in several categories between 2019 and 2023. Frozen toothfish imports surged with a CAGR of 124.2%, led predominantly by South Korea, which accounted for 64.8% of these imports in 2023.Prepared/preserved sardines also saw a substantial increase, boasting a 105.3% CAGR, with Thailand (60.8%) and Vietnam (34.6%) as primary suppliers. Frozen fillets of tuna and skipjack imports increased at an 85.7% CAGR, with Vietnam being the top supplier, making up 55.1% of the market. Of particular note is the import of frozen lobsters, which expanded with a CAGR of 47.5%, with Canada emerging as the dominant supplier, contributing 65.2% of these imports in 2023.
| Product / supplier | 2019 | 2020 | 2021 | 2022 | 2023 | CAGR* % 2019-2023 | Share % in 2023 |
|---|---|---|---|---|---|---|---|
| Frozen toothfish | 0.02 | 0.2 | 0.0 | 0.1 | 0.6 | 124.2 | |
| South Korea | 0.4 | N/C | 64.8 | ||||
| United States | 0.2 | N/C | 34.5 | ||||
| Prepared/preserved sardines | 0.7 | 1.3 | 0.8 | 0.6 | 12.2 | 105.3 | |
| Thailand | 0.8 | 0.1 | 7.4 | N/C | 60.8 | ||
| Vietnam | 4.2 | N/C | 34.6 | ||||
| Malaysia | 0.4 | 0.5 | 0.4 | 0.4 | 0.4 | 2.6 | 3.3 |
| Frozen fillets of tuna, skipjack | 1.7 | 0.7 | 7.0 | 9.0 | 19.8 | 85.7 | |
| Vietnam | 1.0 | 0.3 | 3.2 | 4.5 | 10.9 | 81.2 | 55.1 |
| China | 0.4 | 0.1 | 1.3 | 1.6 | 2.7 | 63.1 | 13.6 |
| South Korea | 0.1 | 0.0 | 0.8 | 0.4 | 2.1 | 100.2 | 10.6 |
| Shrimps and prawns, prepared/preserved | 0.1 | 0.0 | 0.2 | 0.3 | 0.9 | 75.8 | |
| China | 0.1 | 0.25 | 0.5 | N/C | 58.3 | ||
| Vietnam | 0.2 | N/C | 23.3 | ||||
| Thailand | 0.09 | 0.08 | 0.06 | 0.16 | 15.5 | 18.7 | |
| Frozen salmonidae | 0.4 | 0.6 | 0.0 | 1.2 | 3.2 | 73.4 | |
| Norway | 0.03 | 0.00 | 1.13 | 3.00 | N/C | 94.2 | |
| Japan | 0.02 | 0.03 | 0.08 | N/C | 2.5 | ||
| Denmark | 0.03 | 0.06 | 18.9 | 1.9 | |||
| Frozen fillets of salmon | 1.1 | 0.8 | 2.6 | 6.2 | 9.7 | 71.7 | |
| Norway | 0.9 | 0.4 | 1.1 | 2.6 | 4.0 | 43.5 | 41.1 |
| United Kingdom | 0.04 | 0.01 | 0.5 | 1.0 | 2.0 | 166.3 | 20.7 |
| Cuttlefish and squid, prepared/preserved | 0.2 | 1.2 | 1.1 | 4.1 | 1.3 | 55.1 | |
| China | 0.1 | 0.9 | 1.1 | 3.7 | 1.1 | 100.0 | 87.8 |
| Thailand | 0.02 | 0.03 | 0.09 | 0.03 | N/C | 2.4 | |
| Prepared/preserved mackerel | 0.63 | 1.60 | 2.07 | 2.96 | 3.65 | 54.9 | |
| China | 0.62 | 1.55 | 2.05 | 2.92 | 3.62 | 55.5 | 99.2 |
| Frozen lobsters | 0.8 | 0.3 | 0.3 | 0.8 | 3.7 | 47.5 | |
| Canada | 0.3 | 0.0 | 0.0 | 0.0 | 2.4 | 76.2 | 65.2 |
| United States | 0.5 | 0.2 | 0.3 | 0.6 | 1.1 | 20.8 | 30.6 |
| Frozen trout | 0.6 | 0.5 | 0.7 | 2.5 | 2.1 | 38.2 | |
| Norway | 0.4 | 0.5 | 0.7 | 1.8 | 2.0 | 50.9 | 96.1 |
| Chile | 0.67 | 0.05 | N/C | 2.4 | |||
|
Source: Global Trade Tracker, 2024 *CAGR: Compound Annual Growth Rate N/C: Not calculable |
|||||||
Canadian performance
The Philippines was Canada's 13th largest export market for fish and seafood the Indo-Pacific region in 2023, to which Canada exported US$2.9 million, accounting for 0.2% of Canada's fish and seafood exports in the region. Canada's fish and seafood exports to the Philippines expanded by a CAGR of 66.1% between 2019 and 2023.
| Market | 2019 | 2020 | 2021 | 2022 | 2023 | CAGR* % 2019-2023 | Share % in 2023 |
|---|---|---|---|---|---|---|---|
| Indo-pacific | 1,650.5 | 1,234.8 | 1,497.4 | 1,645.4 | 1,541.0 | −1.7 | 100.0 |
| China | 989.0 | 778.9 | 930.0 | 995.4 | 1,071.2 | 2.0 | 69.5 |
| Hong Kong | 189.2 | 101.2 | 138.7 | 131.5 | 143.4 | −6.7 | 9.3 |
| Japan | 215.3 | 164.4 | 204.5 | 194.7 | 140.2 | −10.2 | 9.1 |
| South Korea | 91.9 | 79.4 | 103.6 | 112.0 | 70.0 | −6.6 | 4.5 |
| Vietnam | 53.4 | 39.2 | 35.2 | 71.5 | 36.3 | −9.2 | 2.4 |
| Taiwan | 28.8 | 25.9 | 33.0 | 33.3 | 23.3 | −5.1 | 1.5 |
| Indonesia | 32.4 | 9.6 | 19.1 | 54.1 | 18.2 | −13.5 | 1.2 |
| Singapore | 13.7 | 8.2 | 10.0 | 18.2 | 13.9 | 0.4 | 0.9 |
| Thailand | 12.9 | 13.0 | 10.5 | 14.2 | 6.9 | −14.6 | 0.4 |
| Australia | 11.6 | 8.8 | 9.3 | 11.9 | 5.2 | −18.1 | 0.3 |
| Macao | 6.2 | 0.8 | 0.4 | 0.4 | 3.0 | −16.9 | 0.2 |
| Philippines | 0.4 | 0.3 | 0.2 | 0.8 | 2.9 | 66.1 | 0.2 |
| Myanmar | 0.5 | 0.2 | 0.3 | 0.9 | 1.7 | 33.2 | 0.1 |
| New Zealand | 1.8 | 1.1 | 0.3 | 1.5 | 1.6 | −2.9 | 0.1 |
| Malaysia | 1.9 | 1.5 | 0.4 | 3.8 | 1.2 | −10.9 | 0.1 |
|
Source: Global Trade Tracker, 2024 *CAGR: Compound Annual Growth Rate Note: Canada's Indo-Pacific Strategy comprises 40 countries and economies: Australia, Bangladesh, Bhutan, Brunei, Cambodia, China, India, Indonesia, Japan, Laos, Malaysia, Maldives, Mongolia, Myanmar, Nepal, New Zealand, North Korea, Pakistan, the Philippines, South Korea, Singapore, Sri Lanka, Taiwan, Thailand, Timor Leste, Vietnam and, the Pacific Island Countries (14). |
|||||||
Between 2019 and 2023, Canada's fish and seafood exports to the Philippines saw significant growth, with total exports increasing from $0.38 million to $2.90 million, reflecting a CAGR of 66.2%. The dominant product category was frozen lobsters, which grew from $0.22 million in 2019 to $2.60 million in 2023, achieving a CAGR of 85.4% and comprising 89.7% of total fish and seafood exports to the Philippines in 2023. Live, fresh, or chilled lobsters also showed steady growth with a CAGR of 65.5%, reaching $0.15 million and accounting for 5.2% of the total exports in 2023. Frozen pacific salmon emerged as a new export category in 2023, contributing $0.08 million or 2.8% of the total.
| Description | 2019 | 2020 | 2021 | 2022 | 2023 | CAGR* % 2019-2023 | Share % in 2023 |
|---|---|---|---|---|---|---|---|
| Fish and seafood total | 0.38 | 0.28 | 0.20 | 0.81 | 2.90 | 66.2 | 100.0 |
| Frozen lobsters | 0.22 | 0.00 | 0.00 | 0.70 | 2.60 | 85.4 | 89.7 |
| Lobsters, live, fresh or chilled | 0.02 | 0.04 | 0.03 | 0.08 | 0.15 | 65.5 | 5.2 |
| Frozen pacific salmon | 0.08 | N/C | 2.8 | ||||
| Frozen fish | 0.00 | 0.00 | 0.00 | 0.03 | 0.02 | −33.3 | 0.7 |
| Fresh or chilled pacific salmon | 0.00 | 0.00 | 0.00 | 0.00 | 0.02 | N/C | 0.7 |
|
Source: Global Trade Tracker, 2024 *CAGR: Compound Annual Growth Rate N/C: Not calculable |
|||||||
Canada and the Philippines are currently negotiating a free trade agreement in the context of the Canada-ASEAN FTA negotiation. Since Canada is not a free trade agreement partner of the Philippines, Canadian fish and seafood products are subject to the Most Favored Nation (MFN) tariff duty. According to FAO 195 (1999) "Rules and Regulations Governing Importation of Fishery Products," retail importation of fish and seafood products is allowed only when certified necessary by the Secretary of Agriculture for food security, considering public welfare and safety (USDA, 2022). The Secretary issues a Certificate of Necessity to Import (CNI) based on recommendations from the Bureau of Fisheries and Aquatic Resources, in coordination with the Food and Drug Administration Philippines, and after consulting with industry stakeholders. For more details, visit the Canadian Food Inspection Agency website.
Canada opened in February 2024 an Indo-Pacific Agriculture and Agri-Food Office (IPAAO) in Manila, Philippines, underscoring Canada's long-term commitment to the region. This office highlights the importance placed on building Canada's reputation as a stable and trusted supplier of fish and seafood products. Canadian exporters are also encouraged to leverage the following programs and services to expand their seafood business in the Philippines:
- Canada Brand
- AgriMarketing Program
- Trade Commissioner Service
- Agriculture and Food Trade Show Service
- Single Window for Agri-Food Trade Services
- Agri-food international market intelligence service
- Funding Programs (Global Affairs Canada)
- Solutions for Canadian exporters (Export Development Canada)
Market size
Between 2019 and 2023, the total retail sales value of fish and seafood in the Philippines grew from US$5.6 billion to US$8.4 billion (CAGR of 10.6%). Fresh fish and seafood led this growth, reaching US$7.4 billion in 2023 (CAGR of 10.8%) and are expected to grow to US$8.4 million by 2028 (CAGR of 2.6%). Crustaceans had the highest growth rate at 17.2%, projected to slow to 0.8% by 2028. Fish sales grew at a CAGR of 4.2% and are expected to increase to 3.9% through 2028. Molluscs and cephalopods, with a CAGR of 8.4%, are projected to grow at 5.3%. Processed seafood categories, including shelf-stable and frozen products, also saw robust growth and are expected to continue strong growth through 2028.
| Category | 2019 | 2023 | CAGR* % 2019-2023 | 2024 | 2028 | CAGR* % 2023-2028 |
|---|---|---|---|---|---|---|
| Fresh fish and seafood | 4,889.7 | 7,358.8 | 10.8 | 7,329.3 | 8,360.6 | 2.6 |
| Crustaceans | 2,010.3 | 3,791.5 | 17.2 | 3,665.0 | 3,942.9 | 0.8 |
| Fish | 2,016.6 | 2,377.5 | 4.2 | 2,453.5 | 2,878.8 | 3.9 |
| Molluscs and cephalopods | 862.9 | 1,189.8 | 8.4 | 1,210.8 | 1,539.0 | 5.3 |
| Processed seafood | 720.8 | 1,037.7 | 9.5 | 1,105.5 | 1,453.5 | 7.0 |
| Shelf stable seafood | 532.3 | 777.6 | 9.9 | 821.3 | 1,082.2 | 6.8 |
| Frozen processed seafood | 188.6 | 260.1 | 8.4 | 284.1 | 371.3 | 7.4 |
| Total | 5,610.5 | 8,396.5 | 10.6 | 8,434.8 | 9,814.1 | 3.2 |
|
Source: Euromonitor International, 2024 *CAGR: Compound Annual Growth Rate |
||||||
In the Philippines, while fresh food is traditionally preferred, the COVID-19 pandemic has led to a growing acceptance of frozen options, especially seafood. Informative campaigns highlighting the freshness and safety of frozen seafood are essential to drive sales. Consumers are also seeking to replicate restaurant experiences at home, becoming more knowledgeable about premium foods and sustainability. Despite relaxed travel restrictions, international travel remains low, prompting consumers to seek foods reminiscent of visited destinations, such as seafood like crabs, lobsters, halibut, and salmon. Social media engagement fuels exploration of new food trends, presenting marketers with opportunities to introduce innovative products. Online, consumers often rely on Google, where seafood vendors like Foodphil, Gerald.ph, and Pacific Bay rank high in search results (USDA, 2022).
Competitive landscape
From 2019 to 2023, Century Pacific Food Inc dominated the processed seafood market in the Philippines, increasing its share from 41.3% to 55.6% with a CAGR of 7.7%. In contrast, New Señorito Frozen Food Co experienced a decline with a CAGR of −1.8%, reducing its share from 8.7% to 8.1%. Similarly, Maunlad Canning Corp and private label also saw declines, with CAGRs of −2.4% and −2.2% respectively. CDO Foodsphere Inc and Superb Catch Inc maintained stable market shares. Overall, the market is trending towards consolidation, with Century Pacific Food Inc strengthening its lead while smaller brands lose ground, and a few brands maintaining a steady but stagnant presence.
| Company | 2019 | 2020 | 2021 | 2022 | 2023 | CAGR* % 2019-2023 |
|---|---|---|---|---|---|---|
| Century Pacific Food Inc | 41.3 | 44.0 | 43.5 | 56.3 | 55.6 | 7.7 |
| New Señorito Frozen Food Co | 8.7 | 8.2 | 8.3 | 8.0 | 8.1 | −1.8 |
| Maunlad Canning Corp | 6.4 | 6.0 | 5.9 | 5.7 | 5.8 | −2.4 |
| CDO Foodsphere Inc | 5.8 | 5.8 | 5.8 | 5.7 | 5.8 | 0.0 |
| Alsons Aquaculture Corp | 4.4 | 4.2 | 4.3 | 4.2 | 4.3 | −0.6 |
| Universal Canning Inc | 3.5 | 3.4 | 3.4 | 3.4 | 3.4 | −0.7 |
| Superb Catch Inc | 1.5 | 1.4 | 1.5 | 1.5 | 1.5 | 0.0 |
| Thong Siek Food Industry Pte Ltd | 0.6 | 0.6 | 0.6 | 0.5 | 0.6 | 0.0 |
| MF Sandoval Trading | 0.4 | 0.3 | 0.3 | 0.3 | 0.3 | −6.9 |
| Liberty Gold Fruit Co Inc | 12.2 | 11.8 | 11.9 | N/C | ||
| Private Label | 2.4 | 2.2 | 2.2 | 2.1 | 2.2 | −2.2 |
| Others | 12.7 | 12.1 | 12.3 | 12.5 | 12.6 | −0.2 |
|
Source: Euromonitor International, 2024 *CAGR: Compound Annual Growth Rate N/C: Not caculable |
||||||
From 2019 to 2023, Century Pacific Food Inc maintained a strong presence in the processed fish and seafood market in the Philippines, with its brands Century, 555, and Ligo holding a total of 55.6% market shares in 2023. New Señorito from New Señorito Frozen Food Co and Young's Town from Maunlad Canning Corp experienced slight declines. San Marino from CDO Foodsphere Inc remained stable, while Sarangani Bay from Alsons Aquaculture Corp and Master from Universal Canning Inc saw marginal decreases. Seaking from Superb Catch Inc and Dodo from Thong Siek Food Industry Pte Ltd maintained consistent shares. Private Label experienced a decline, and the "Others" category saw a significant drop from 25.3% to 12.7%, indicative of market consolidation.
| Brand name | Company name | 2019 | 2020 | 2021 | 2022 | 2023 | CAGR* 2019-2023 |
|---|---|---|---|---|---|---|---|
| Century | Century Pacific Food Inc | 21.3 | 22.8 | 22.6 | 23.1 | 22.4 | 1.3 |
| 555 | Century Pacific Food Inc | 20.1 | 21.1 | 20.9 | 21.4 | 21.2 | 1.3 |
| Ligo | Century Pacific Food Inc | 11.8 | 12.0 | N/C | |||
| New Señorito | New Señorito Frozen Food Co | 8.7 | 8.2 | 8.3 | 8.0 | 8.1 | −1.8 |
| Young's Town | Maunlad Canning Corp | 6.4 | 6.0 | 5.9 | 5.7 | 5.8 | −2.4 |
| San Marino | CDO Foodsphere Inc | 5.8 | 5.8 | 5.8 | 5.7 | 5.8 | 0.0 |
| Sarangani Bay | Alsons Aquaculture Corp | 4.4 | 4.2 | 4.3 | 4.2 | 4.3 | −0.6 |
| Master | Universal Canning Inc | 3.5 | 3.4 | 3.4 | 3.4 | 3.4 | −0.7 |
| Seaking | Superb Catch Inc | 1.5 | 1.4 | 1.5 | 1.5 | 1.5 | 0.0 |
| Dodo | Thong Siek Food Industry Pte Ltd | 0.6 | 0.6 | 0.6 | 0.5 | 0.6 | 0.0 |
| Private Label | 2.4 | 2.2 | 2.2 | 2.1 | 2.2 | −2.2 | |
| Others | 25.3 | 24.3 | 24.5 | 12.6 | 12.7 | −15.8 | |
|
Source: Euromonitor International, 2024 *CAGR: Compound Annual Growth Rate N/C: not calculable |
|||||||
Product launch analysis
Between 2019 and 2023, 407 new packaged fish and seafood products were launched in the Philippines. Most products were priced between US$0.25 and US$4.24, with fewer launches in higher price brackets. Leading claims included suitability, natural ingredients, and convenience, with suitability claims peaking at 60 in 2020. Non-imported products saw a peak of 63 launches in 2020, while imported product launches remained stable. Notable brands were 555 and Fisherfarms Incorporated, though their presence varied yearly. Predominant launch types were new varieties/range extensions and new packaging. Unflavored/plain was the leading flavor each year. Supermarkets were the main retail outlet, consistently ahead of mass merchandise/hypermarkets and online/mail orders.
| Product attributes | Yearly launch count | ||||
|---|---|---|---|---|---|
| 2019 | 2020 | 2021 | 2022 | 2023 | |
| Yearly product launches | 70 | 103 | 77 | 74 | 83 |
| Top five price groups in US dollars | |||||
| 0.25 - 4.24 | 51 | 82 | 67 | 59 | 74 |
| 4.25 - 8.24 | 15 | 19 | 4 | 11 | 8 |
| 8.25 - 12.24 | 3 | 1 | 2 | 3 | 1 |
| 16.25 - 24.00 | 0 | 1 | 1 | 0 | 0 |
| 12.25 - 16.24 | 0 | 0 | 1 | 0 | 0 |
| Top five claim categories | |||||
| Suitable for | 27 | 60 | 41 | 22 | 38 |
| Natural | 16 | 35 | 23 | 21 | 28 |
| Positioning | 19 | 26 | 28 | 21 | 29 |
| Convenience | 14 | 37 | 31 | 14 | 20 |
| Ethical & environmental | 26 | 19 | 24 | 15 | 18 |
| Imported status | |||||
| Not imported | 34 | 63 | 47 | 29 | 47 |
| Imported | 9 | 10 | 12 | 10 | 9 |
| Top five brands | |||||
| 555 | 2 | 10 | 2 | 0 | 7 |
| Fisherfarms Incorporated | 6 | 6 | 2 | 1 | 6 |
| Mega | 3 | 10 | 0 | 5 | 0 |
| Century Tuna | 0 | 1 | 8 | 2 | 4 |
| Ligo | 5 | 6 | 2 | 1 | 1 |
| Top five launch types | |||||
| New Variety/Range Extension | 34 | 44 | 28 | 34 | 40 |
| New Packaging | 28 | 41 | 29 | 19 | 30 |
| New Product | 4 | 8 | 20 | 20 | 8 |
| Relaunch | 4 | 10 | 0 | 1 | 5 |
| Top five flavours (including blend) | |||||
| Unflavoured/Plain | 39 | 34 | 35 | 46 | 36 |
| Tomato | 6 | 5 | 4 | 3 | 6 |
| Hot & Spicy | 2 | 5 | 4 | 4 | 5 |
| Spanish | 3 | 5 | 3 | 1 | 6 |
| Spice/Spicy | 3 | 2 | 2 | 6 | 3 |
| Top store type | |||||
| Supermarket | 52 | 49 | 45 | 51 | 58 |
| Mass Merchandise/Hypermarket | 12 | 31 | 10 | 16 | 14 |
| Internet/Mail Order | 0 | 7 | 14 | 3 | 9 |
| Specialist Retailer | 2 | 2 | 1 | 2 | 2 |
| Traditional Retail Outlet | 2 | 7 | 0 | 0 | 0 |
|
Source: Mintel 2024 |
|||||
Product launch examples
Bangus Milkfish in Hot & Spicy Tomato Sauce
Source: Mintel, 2024
| Company | Superb Catch |
|---|---|
| Brand | SeaKing |
| Store name | SM Supermarket |
| Store type | Supermarket |
| Date published | March 2024 |
| Launch type | New variety / range extension |
| Price in US dollars | 2.93 |
SeaKing Bangus Milkfish in Hot & Spicy Tomato Sauce is now available, and retails in a 220 gram pack. - All natural - No preservatives
Spicy Corned Sardines
Source: Mintel, 2024
| Company | Century Pacific Food |
|---|---|
| Manufacturer | Century Pacific Food |
| Brand | 555 |
| Store name | Metro Market! |
| Store type | Supermarket |
| Date published | March 2024 |
| Launch type | New variety / range extension |
| Price in US dollars | 0.29 |
555 Spicy Corned Sardines are now available, and retail in a 100 gram pack. - No preservatives added - Logos and certifications: Halal, HACCP
Cream Dory Fillet
Source: Mintel, 2024
| Company | Cold Storage Seafood |
|---|---|
| Brand | Cold Storage |
| Store name | Robinsons Supermarket |
| Store type | Supermarket |
| Date published | March 2023 |
| Launch type | New packaging |
| Price in US dollars | 3.47 |
Cold Storage Cream Dory Fillet has been repackaged and retails in a 1 kilogram pack. - Most deep sea fishes contain omega-3 fatty acids, a healthy kind of fat that helps protect from many diseases of the heart and joints - No waste with the same fresh taste - Features thawing and cooking instructions - Logos and certifications: QR code, Facebook, Instagram
Shrimp Cocktail with Mango Sriracha Sauce
Source: Mintel, 2024
| Company | Fisherfarms |
|---|---|
| Brand | Fisherfarms |
| Store name | Marketplace by Rustan's |
| Store type | Supermarket |
| Date published | March 2022 |
| Launch type | New variety / range extension |
| Price in US dollars | 8.25 |
Fisherfarms Shrimp Cocktail with Mango Sriracha Sauce is now available. The product retails in a 400 gram pack containing 300 grams of 36 shrimps and 100 grams sauce, and bearing thawing options.
Wild Smoked Sockeye Salmon
Source: Mintel, 2024
| Company | Sundance Seafood |
|---|---|
| Brand | West Coast Select |
| Location of manufacture | Canada |
| Import status | Imported product |
| Store name | S & R |
| Store type | Mass merchandise / hypermarket |
| Date published | October 2022 |
| Launch type | New variety / range extension |
| Price in US dollars | 24.57 |
West Coast Select Wild Smoked Sockeye Salmon is now available, and retails in a 227 gram box. - The original Haida artwork is done by Corey Bullpit - Recipe for Sundance smoked salmon tea sandwiches
Frozen Fresh U.S. Scallop Meat
Source: Mintel, 2024
| Company | MIDA Food Distributors |
|---|---|
| Brand | Pacific Bay Choice Seafood |
| Store name | Robinsons Supermarket |
| Store type | Supermarket |
| Date published | September 2019 |
| Launch type | New packaging |
| Price in US dollars | 20.31 |
Pacific Bay Choice Seafood Frozen Fresh U.S. Scallop Meat has been repackaged in a newly designed 500 gram double pack to lock in freshness. Each sizeable portion of tender white meat is said to bring the flavour of the sea to the plate which takes any meal a notch higher. The high quality seafood is claimed to require little fuss, is meticulously selected, sustainable, of restaurant quality and quick frozen to seal in taste, nutrition and texture.
For more information
The Canadian Trade Commissioner Service:
International Trade Commissioners can provide Canadian industry with on-the-ground expertise regarding market potential, current conditions and local business contacts, and are an excellent point of contact for export advice.
More agri-food market intelligence:
International agri-food market intelligence
Discover global agriculture and food opportunities, the complete library of Global Analysis reports, market trends and forecasts, and information on Canada's free trade agreements.
Agri-food market intelligence service
Canadian agri-food and seafood businesses can take advantage of a customized service of reports and analysis, and join our email subscription service to have the latest reports delivered directly to their inbox.
More on Canada's agriculture and agri-food sectors:
Canada's agriculture sectors
Information on the agriculture industry by sector. Data on international markets. Initiatives to support awareness of the industry in Canada. How the department engages with the industry.
For additional information on World Food Expo 2024 please contact:
Ben Berry, Deputy Director
Trade Show Strategy and Delivery
Agriculture and agri-food Canada
ben.berry@agr.gc.ca
Resources
- Export Development Canada 2024, Canadian seafood exporters: Casting a wider net in the Indo-Pacific
- Philippine Department of Agriculture Bureau of Fisheries and Aquatic Resources, 2021: Comprehensive National Fisheries Industry Development Plan (2021-2025)
- Philippine Department of Agriculture Bureau of Fisheries and Aquatic Resources, 2023: The Philippine Fisheries Profile
- Euromonitor International, database 2024
- Euromonitor International 2023: Fish and Seafood in China
- FAO 2024, Fishery and Aquaculture Country Profiles. Philippines, 2014. Country Profile Fact Sheets. Updated November 28, 2014
- Global Trade Tracker, 2024
- Jennifer Viron, 2020: Country Fisheries Trade: Philippines
- Mintel Global New Products Database, 2024
- MRAG Asia Pacific, 2022: The State of Fish in Nutrition Systems in the Philippines. A report prepared for Oceana
- OECD-FAO, 2023: Agricultural Outlook 2023-2032
- The Southeast Asian Fisheries Development Center, 2022: Fisheries Country Profile: Philippines
- USDA, 2022: Philippines: Fishery Product Import Regulations and Standards
- USDA, 2022: Philippines: Seafood Products Market Brief
Sector Trend Analysis – Fish and seafood trends in the Philippines
Global Analysis Report
Prepared by: Zhi Duo Wang, Market Analyst
© His Majesty the King in Right of Canada, represented by the Minister of Agriculture and Agri-Food (2024).
Photo credits
All photographs reproduced in this publication are used by permission of the rights holders.
All images, unless otherwise noted, are copyright His Majesty the King in Right of Canada.
To join our distribution list or to suggest additional report topics or markets, please contact:
Agriculture and Agri-Food Canada, Global Analysis1341 Baseline Rd, Tower 5, 3rd floor
Ottawa ON K1A 0C5
Canada
Email: aafc.mas-sam.aac@agr.gc.ca
The Government of Canada has prepared this report based on primary and secondary sources of information. Although every effort has been made to ensure that the information is accurate, Agriculture and Agri-Food Canada (AAFC) assumes no liability for any actions taken based on the information contained herein.
Reproduction or redistribution of this document, in whole or in part, must include acknowledgement of agriculture and agri-food Canada as the owner of the copyright in the document, through a reference citing AAFC, the title of the document and the year. Where the reproduction or redistribution includes data from this document, it must also include an acknowledgement of the specific data source(s), as noted in this document.
Agriculture and Agri-Food Canada provides this document and other report services to agriculture and food industry clients free of charge.