Philippines Maize Market – Industry Analysis, Forecasts and Opportunity Assessment (2016-2023)
Report on Philippines Maize Market – Industry Analysis, Forecasts and Opportunity Assessment (2016-2023)
Introduction to Philippines Maize Market
Maize is the second most important food crop in Philippines and major source of income for 1/3rd of farmers. There exists a big market for Maize in the country and the market is expected to expand with rapid economic growth and urbanization. Maize production is a cyclical process as per the weather cycle. The production peaks from July to September and falls down in the month from January to June. The production cycle also affects the market demand and supply. In 2017, total output in Philippines stood at 8.7 Million tonnes which is higher than previous year.
Philippines is a huge market for maize as demand is very high. Maize is the preferred feed-grain by local end-users. With the increase in demand for feed for livestock and poultry, there has been a major push for maize growth in the market. The demand and supply dynamics is dependent of the production efficiency and pricing behavior. Urbanization and market growth are further propelling overall demand. This has led to increased production and hence increased supply in the market.
In 2016, the maize production in the Philippines amounted to 7.22 MMT as opposed to 6.97 MMT in 2011. GDP growth of nearly six percent over the last decade has resulted in increased purchasing power and change in dietary preferences of the Filipino consumer. Domestic marketing and distribution are largely controlled by local traders and price is determined based on market demand and supply. Many players shape the market dynamics such as large feed mills, which enter into supply agreement with local maize producers in exchange for assured prices and technical assistance to ensure adequate feed grain supply.
Maize Market in Philippines can be segmented into two broad categories.
- By Region: In this category, the market can be segmented into Rural and Urban. In Rural area maize is largely as the feed for livestock and poultry. This segment serves as a big market as there has been a sharp increase in the number of livestock and poultry owned by farmers. Urban demand of maize is predominantly for dietary habits. Customers in the segment demand high-quality maize with rich nutrients.
- By type of maize: Various qualities of maize is available in the market to meet the demand of market. Locally produced maize is generally low in quality and are cheap. Primarily used by poor section of the population for consumption and for livestock feed, locally produced maize constitutes a major share of total maize sales. To meet the demand of urban and affluent population, large farms and major feed producers import maize.
Rising maize demand has allowed many players to enter in the market and gain market share. Some of the key players in the market are: Jardine Distribution, Inc., Calata Corporation Pioneer, PhilMaize and Monsanto.
The report contains a comprehensive analysis on:
- Philippines Maize Market Segments
- Philippines Maize Market Drivers, Restraints and Opportunities
- Philippines Maize Market Size & Forecast 2016 to 2022
- Supply & Demand Value Chain
- Philippines Maize Market Current Trends
- Competition & Major Companies
- Technology and R&D Status
- Porters Five Force Analysis
- Strategic and Critical Success Factor Analysis of Key Players
This report is an elaborate aggregation of primary inputs from industry experts and participants across the supply chain. It provides in-depth market segmentation that is derived from extensive product mapping exercises, macroeconomic factors, and other qualitative and quantitative insights. The impact of all such factors is delivered across multiple market segments and geographies.
- Detailed Historical Overview (Market Origins, Product Launch Timeline, etc.)
- Consumer and Pricing Analysis
- Market dynamics of the industry
- In-depth Market Segmentation
- Historical and Projected Market Sizing in terms of volume and value
- Recent market trends and Impact Factors
- R&D Status and Technology Overview
- Extensive Industry Structure Coverage