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25-12-2024
In 2023, the Philippines imported a total of 566,000 tons of cocoa products, with the majority being chocolate confectioneries and chocolate semi-finished products, which accounted for 66.0% of the total at 566,000 tons. Cocoa powder imports amounted to 268,000 tons, making up 31.3% of the total cocoa product imports.
Where Does the Philippines Import Its Chocolate Confectionery From?
In 2023, the Philippines imported 56,600 tons of chocolate confectionery products, valued at $233.5 million. This marked a 3.2% decline in volume compared to 2022 (-1.9 thousand tons), but the value increased by 8.5% (+$18.3 million). From 2019 to 2023, the average annual growth rate of chocolate confectionery imports by the Philippines was 13.2% in volume and 16.7% in value.
In 2023, Indonesia was the largest supplier of chocolate confectionery products to the Philippines, accounting for 34.2% or 194,000 tons. Malaysia ranked second, contributing 13.6% or 77,000 tons to the Philippines' imports. The United States, one of the top three suppliers, accounted for 8.5% or 48,000 tons. Overall, the top 10 exporting countries made up 88.4% of the total chocolate confectionery imports to the Philippines.
Growth and Decline in Chocolate Confectionery Imports
In 2023, imports of chocolate confectionery products from Singapore increased by 44.6% (+12,000 tons) compared to the previous year. Imports from Turkey surged 2.2 times (+10,000 tons). Meanwhile, imports from Indonesia (-12.6% or -2,800 tons), China (-20.7% or -794 tons), and Australia (-21.7% or -791 tons) decreased.
In terms of value, Indonesia remained the leading supplier of chocolate confectionery products to the Philippines, with an import value of $41.8 million, accounting for 17.9% of the total chocolate confectionery imports. Other major suppliers by value included Malaysia (17.9%) and Switzerland (10.0%). The top 10 suppliers together accounted for 86.5% of the total import value.
Price Trends in Chocolate Confectionery Imports
In 2023, the average import price of chocolate confectionery products rose by 12.1%, reaching $4,128 per ton. The most expensive products came from Switzerland, with an average price of $11,066 per ton, 2.7 times the average price, followed by the Netherlands ($8,163 per ton, 97.8% higher) and India ($8,000 per ton, 93.8% higher). The most competitively priced products came from Turkey ($1,638 per ton, 60.3% below average) and Indonesia ($2,162 per ton, 47.6% below average).
Popular Categories of Chocolate Confectionery in the Philippines
In 2023, the largest segment of the chocolate confectionery market in the Philippines was chocolate bars, which accounted for 62.4% (251,000 tons) of total consumption. Packaged chocolate bars were the second most popular product, with a consumption of 6,100 tons (15.2%). Packaged chocolate confectioneries were also popular, with a demand of 4,700 tons (11.7%). Boxed chocolates accounted for 2,100 tons (5.2%), while chocolate spreads made up 5.0% (2,000 tons) of consumption. Other types of chocolate confectionery products, such as chocolate lollipops and chocolate marshmallows, had a limited presence in the Philippine market.
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