Philippines

Although the tax burden is reducing, the Philippines remains ‘mostly unfree’ for economic freedom and geopolitical tensions are growing. Solid remittances helped the economy to outperform peers and infrastructure upgrades could support output…

In 2023, pet care in the Philippines saw a notable slowdown in retail current value growth, indicating a loss of momentum compared with previous years, when the pandemic drove an increase in pet ownership. The slowdown in this year was mainly…

In 2023, in addition to driving up the prices of pet food, inflation also drove up prices for pet products in the Philippines, due to rising manufacturing and distribution costs. This put a strain on pet owners’ budgets. Therefore, although retail…

Soy drinks remained the only significant subcategory within plant-based dairy in 2023. Retail volume sales of soy drinks declined sharply during the COVID-19 pandemic in 2020 and 2021, due to decreased incidence of impulse purchases through…

Earlier in the review period, prior to the pandemic, plant-based milk – the only product in plant-based dairy currently with visible sales – had been seeing strong growth, especially the dominant product type of soy milk, as many Filipinos were…