Philippines: Food Processing Ingredients
The Philippines’ rapidly expanding processed food and beverage industry presents robust opportunities for U.S. exporters of agricultural raw materials and high-value ingredients. The industry’s gross value added output amounted to $28.9 billion in 2016. Roughly 90 percent of the industry’s output is consumed domestically. As quality and efficiency continue to improve, the Philippines will be in a position to exploit export opportunities in the region due to its strategic location and membership in various free trade agreements, such as the Association of Southeast Asia Nations Free Trade Agreement (AFTA) and the ASEAN-Australia-New Zealand Free Trade Agreement (AANZFTA).
