The import of frozen vegetables to the Philippines stood at an actual value of 6.340 million USD in 2023. Starting from this baseline, the predicted import values for the years 2024 through 2028 show a steady upward trend. From 2024 to 2025, the import value is forecasted to increase by 2.48%, followed by a 2.37% rise in 2026. The year-on-year growth continues with a 2.27% increase in 2027 and a 2.18% rise in 2028.
Over the five-year period from 2024 to 2028, the compound annual growth rate (CAGR) is calculated to be approximately 2.3%, indicating a consistent and stable growth trajectory for frozen vegetable imports.
Future trends to watch for include potential fluctuations in global supply chains, changing consumer preferences towards frozen foods, and potential government policies on imports that could influence market conditions.
