The non-centrifugal sugar market size in the Philippines is forecasted to decline from 70 thousand metric tons in 2024 to 62 thousand metric tons in 2028. In 2023, the market stood at 72 thousand metric tons. Over the past two years, this represents a yearly decline of approximately 2.8%. The average annual variation, calculated as the Compound Annual Growth Rate (CAGR) over the last five years, indicates a negative trajectory of approximately -3.0% per year.
Future trends to watch for include:
- Changes in consumer preferences toward healthier alternatives which may further affect demand.
- Government policies and subsidies impacting production and consumption.
- Technological advancements in production methods which could alter market dynamics.
- Global market conditions and trade policies influencing the import-export landscape.
