| Product Code: ETC385589 | Publication Date: Aug 2022 | Updated Date: Feb 2025 | Product Type: Market Research Report | |
| Publisher: 6Wresearch | Author: Ravi Bhandari | No. of Pages: 75 | No. of Figures: 35 | No. of Tables: 20 |
The Philippines hosts a diverse range of markets within its agricultural and seafood sectors. In the carp market, freshwater fish such as carp play a significant role in the country`s aquaculture industry. Carps are cultivated both for local consumption and export, contributing to the country`s food security and economic growth.
Carp, a popular fish species in the Philippines, contributes significantly to the country`s fisheries sector. The carp market is driven by factors such as its affordability, high nutritional value, and versatility in culinary applications. The market`s growth is supported by both domestic consumption and export opportunities, making carp an important player in the Philippines` seafood industry.
The Philippines carp market encounters challenges related to consumer preferences, market demand, and environmental impacts. Carp is a common fish species in aquaculture, but consumer preferences for other fish species can limit market growth. Balancing carp production with environmental considerations is crucial, as intensive carp farming can lead to water quality issues. Diversifying aquaculture practices, promoting carp consumption, and adopting sustainable production methods are key strategies to overcome these challenges.
The Philippines carp market faced challenges during the COVID-19 pandemic due to disruptions in the supply chain and reduced consumer spending. Lockdowns and restrictions impacted distribution channels and consumer access to markets. Additionally, the closure of restaurants and hotels reduced demand from the foodservice sector. However, there was a potential shift toward increased domestic consumption as people cooked more at home. The market`s recovery was influenced by the easing of restrictions and the adaptation of producers to new distribution methods.
The Philippines carp market involves fish farmers, aquaculture companies, and government agencies. Carp species like tilapia and bangus (milkfish) are commonly farmed in the country. Local fish farms and cooperatives, as well as larger aquaculture companies, contribute to the carp supply. The Department of Agriculture`s BFAR supports carp farming initiatives and provides technical assistance to promote sustainable aquaculture practices.
Export potential enables firms to identify high-growth global markets with greater confidence by combining advanced trade intelligence with a structured quantitative methodology. The framework analyzes emerging demand trends and country-level import patterns while integrating macroeconomic and trade datasets such as GDP and population forecasts, bilateral import–export flows, tariff structures, elasticity differentials between developed and developing economies, geographic distance, and import demand projections. Using weighted trade values from 2020–2024 as the base period to project country-to-country export potential for 2030, these inputs are operationalized through calculated drivers such as gravity model parameters, tariff impact factors, and projected GDP per-capita growth. Through an analysis of hidden potentials, demand hotspots, and market conditions that are most favorable to success, this method enables firms to focus on target countries, maximize returns, and global expansion with data, backed by accuracy.
By factoring in the projected importer demand gap that is currently unmet and could be potential opportunity, it identifies the potential for the Exporter (Country) among 190 countries, against the general trade analysis, which identifies the biggest importer or exporter.
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