Inflationary pressures continue in 2023, however, we are seeing an overall resilience in cooking ingredients and meals in the Philippines – in both value and volume terms, variably. Shortages in raw materials continue to affect some categories, such as seen with sunflower oil in edible oils, however, such challenges appear to be stabilising.
There is a positive trajectory across the industry when it comes to foodservice. The return to robust foot traffic in dining establishments, from cafés to full-service restaurants, benefits categories such as edible oils, sauces, dips and condiments, and sweet spreads.
The biggest three players overall are San Pablo Mfg Corp, International Oil Factory, and Unilever Foods Philippines (CMC), being the only names holding double-digit shares in an otherwise fragmented category as a whole. The government owned and controlled organisation, San Pablo Mfg Corp, benefits from its long-standing brand, Minola, which is known for its coconut oil and offers multiple pack sizes which enable consumers with different budgetary constraints to purchase the brand.
While foodservice is growing faster than retail, the latter continues to generate the higher volumes overall. While the resurgence of dining out reflects positive gains in on-trade channels, we note that supermarkets and hypermarkets also remain relevant in trade – especially for smaller traders who wish to purchase smaller quantities than those typically available via wholesale channels.
While there is a positive prospect across the category as a whole, we expect CAGR retail growth to be fastest in meals and soups, followed by sauces, dips, and condiments, and sweet spreads, with edible oils also showing decent CAGR, albeit a little lower. As such, we expect players to target their brands and products to the strongest category trends, while meeting the needs of busy consumers who seek convenient options.
Delivery:
Files are delivered directly into your account soon after payment is received and any tax certification is verified (where applicable).
This report comes in PDF with additional info in Excel included.
Understand the latest market trends and future growth opportunities for the Cooking Ingredients and Meals industry in Philippines with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
Data and analysis in this report provides further detailed coverage dedicated to a comprehensive range of core packaged food categories.
If you're in the Cooking Ingredients and Meals industry in Philippines, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Cooking Ingredients and Meals
This report originates from Passport, our Cooking Ingredients and Meals research and analysis database.
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extraction Free!