Product Code: ETC383369 | Publication Date: Aug 2022 | Updated Date: Feb 2025 | Product Type: Market Research Report | |
Publisher: 6Wresearch | No. of Pages: 75 | No. of Figures: 35 | No. of Tables: 20 | |
Nuts have secured their place in the Philippines` snack and ingredient landscape, contributing to a robust nuts market. A variety of locally grown nuts, such as cashews and pili nuts, cater to the diverse taste preferences of consumers and offer avenues for value addition through processing and packaging.
The Philippines nuts market is experiencing growth due to several key drivers. Nuts are recognized as nutrient-dense snacks, packed with essential fats, proteins, and micronutrients. The increasing awareness of their health benefits, including heart health and weight management, has driven consumer demand. The versatility of nuts as ingredients in both sweet and savory dishes has expanded their culinary applications, boosting their popularity in the local food industry. Moreover, the export potential of nuts has garnered attention, as they are considered a value-added agricultural product that can contribute to the country`s trade revenue. Local initiatives promoting nut consumption for their nutritional value are further propelling the market forward.
The Philippines nuts market encounters challenges related to competition, quality, and market access. Nuts, while being nutritious and versatile, face competition from both domestic and imported varieties. Ensuring consistent quality, addressing issues related to storage and processing, and adhering to safety and hygiene standards are challenges that need attention. Moreover, accessing export markets while complying with international quality and safety regulations is crucial for the growth of the nuts market.
The Philippines nuts market experienced both positive and negative effects from the COVID-19 pandemic. On one hand, the demand for healthy and nutritious snacks like nuts increased as consumers sought to boost their immune systems. On the other hand, the market faced challenges related to supply chain disruptions and limited transportation. The closure of retail outlets and disruptions in international trade impacted both domestic consumption and export opportunities. The recovery of the market depended on the easing of restrictions, consumer behavior, and the ability to adapt to changing market dynamics.
The Philippines nuts market is highly competitive and consists of several key players. The leading players in the Philippine nut industry include Del Monte Pacific Ltd., United Coconut Association of the Philippines, Cargill Incorporated, and San Miguel Corporation. These companies have a strong presence in both local and international markets. They offer an extensive range of products such as coconuts, cashews, peanuts, almonds, walnuts, macadamia nuts etc. Other major producers include FEMSA Comercio Internacional SA de CV from Mexico; Monde Nissin Corporation from the Philippines; Meiji Holdings Co., Ltd. from Japan; Archer Daniels Midland Company from U. S. ; Khao Shong Public Company Limited from Thailand; General Mills Incorporation from U. S. ; Zentis GmbH & Co KG from Germany; ITC Limited India; Carrefour S A France among others.