Forecast: Cocoa Beans Demand in Philippines

In 2023, the demand for cocoa beans in the Philippines stood at 6.0 thousand metric tons. The forecast for the years 2024 to 2027 predicts a steady demand of 6.0 thousand metric tons annually. In 2028, the demand is expected to rise to 7.0 thousand metric tons, marking a significant increase.

Year-on-year variation from 2023 to 2024 shows no change. This trend of no variation continues until 2027, where demand is stable. However, from 2027 to 2028, there is a notable increase of approximately 16.7%. When considering the Compound Annual Growth Rate (CAGR) over the five-year period from 2023 to 2028, the average annual growth rate is about 2.6%.

Future trends to watch for include potential shifts in demand due to economic changes, consumption patterns, and the influence of global cocoa market dynamics. Monitoring these factors will be crucial for anticipating further changes in cocoa bean demand in the Philippines.