Press Release | Axelum Resources Corp. | January 24, 2022
Robust global demand to anchor Axelum growth momentum
Surge in coconut sales abroad boost total Philippine exports in 2021
Axelum Resources Corp. (PSE: AXLM), the country’s leading fully-integrated manufacturer and exporter of world-class premium coconut products, is poised to further strengthen its growth trajectory in 2022.
According to official data, for the period January to November 2021, total Philippine coconut exports was valued at $1.74 billion, up 54% from $1.13 billion, cementing the country’s position as one of the top suppliers of coconuts worldwide. Coconut oil and desiccated coconut led all major segments by registering growth of 54% and 49% respectively.
“We are seeing increasing requirements for coconuts owing to stronger preferences for nutritiously-laden food labels by a thriving health-conscious population. Last year, Axelum catered to a larger customer base and managed to outpace industry growth to accelerate global market leadership,” stated Mr. Henry J. Raperoga, President and Chief Operating Officer of Axelum Resources Corp.
Moreover, based on third-party estimates, the global coconut products market is projected to reach $31.1 billion by 2026, with a CAGR of 14% from 2018. Aside from traditional categories, market drivers include the fast-rising coconut water and coconut milk powder segments. Coconut water is a popular and healthier alternative to sugary and caffeinated drinks while coconut milk powder is an extensively-used universal food ingredient particularly for much-sought all-natural diets.
To meet increasing demand, Axelum has expanded its nut processing and storage capabilities while improving overall manufacturing yields across its core products. Despite various headwinds, Axelum continues to maintain steady raw material supply to consistently service its tier-one clientele composed of prominent international household brands.
For 2022, Axelum is currently incubating multiple food products targeted for the American consumer market, with planned roll-outs scheduled by the second half of the year.
References: Philippine Statistics Authority and Research and Markets
