Philippines Ready to Eat Food Market (2022-2028) | Revenue, Size, Share, Growth, Industry, Outlook, Forecast, Analysis, Trends, Value, Segmentation & COVID-19 IMPACT

Market Forecast By Product Types (Instant Breakfast/Cereals, Instant Soups and Snacks, Ready Meals, Baked Goods, Meat Products & Others), By Distribution Channels (Hypermarkets/Supermarkets, Online Retail Stores, Convenience Stores & Others) and competitive landscape

Product Code: ETC003356 Publication Date: Feb 2023 Updated Date: Feb 2024 Product Type: Report
Publisher: 6Wresearch No. of Pages: 70 No. of Figures: 35 No. of Tables: 5

Philippines Ready to Eat Food Market Competition 2023


Philippines Export Potential Assessment For Ready to Eat Food Market (USD Values in Thousand)


Latest 2023 Developments of Philippines Ready To Eat Food Market

The Philippines Ready To Eat Food Market is predicted to experience significant growth backed by various latest development in the industry. The demand for convenience food is growing due to busy and hectic lifestyles. This trend is driving the growth of the ready-to-eat food industry in the Philippines. The expansion of retail chains such as supermarkets, hypermarkets, and convenience stores is driving the growth of the ready-to-eat food market in the Philippines. The popularity of online grocery shopping is also propelling the demand for ready-to-eat food as more and more consumers are opting for online shopping.

Moreover, the government is taking several initiatives to promote the market by proving support to local manufacturers and promoting the export of local food products. In addition, companies in the ready-to-eat food market are investing in product innovation and development to meet the changing consumer preferences and demands. The growing packaging industry in the country is projected to drive the demand for ready-to-eat food, as more and more consumers are looking for convenient, easy-to-store food options. The Philippines Ready To Eat Food Industry is expected to grow significantly in the coming years, driven by factors such as rising demand for expansion of retail chains, convenience food, and a growing focus on health and wellness.

Philippines Ready To Eat Food Market Synopsis

One of the main reasons for this growth is that there is a growing population and an ageing population in the Philippines, which means that there are more people who are looking for convenience foods. In addition, the country has a very high level of urbanization, which means that more people are living in cities and have access to restaurants and grocery stores. The Philippines Ready To Eat Food Market is a part of Asia Pacific (APAC) Ready To Eat Food Market and the global Ready to Eat Food Market

According to 6Wresearch, the Philippines Ready To Eat Food Market size is likely to witness growth during 2022-28. The main drivers of this market are increasing urbanization, rising disposable incomes, and growing health consciousness among Filipinos. The increase in affluence and population growth are the major factors fueling this market. Rising disposable incomes, increasing health consciousness among people, and preference for convenience over time are some of the key reasons for the growth of this market. Additionally, there is a growing demand for ready to eat food products as they are perceived as healthier options compared to pre-prepared food items. Moreover, consumers are increasingly looking for brands that offer quality food products at affordable prices. This is driving the Ready To Eat Food market in the Philippines.

Market Analysis By Product Type

In terms of product type, the market is categorized into Instant Breakfast/Cereals, Instant Soups And Snacks, Ready Meals, Baked Goods and Meat Products & Others. Ready meals hold the highest market share. The Ready To Eat Food Market in the Philippines is expected to reach USD 2,023.2 Million by 2028. Rapid urbanization and increasing affluence are some of the key factors fueling the growth of this market.

Market Analysis By Competitive Landscape

There are a number of food companies that are active in the ready to eat food market in the Philippines. These companies include Jollibee, McDonald's, and KFC. In 2014, Jollibee was the fastest-growing company in the Philippines with a revenue growth of 27%. The company currently operates 339 restaurants across the country. McDonald's is also a major player in the Philippine ready to eat food market with over 1,000 restaurants across the country. It has a presence in both urban and rural areas and offers a wide range of cuisine options including burgers, fries, desserts, and shakes. KFC is another well-known player in the Philippine ready to eat food market with over 400 restaurants operational. The company offers classic chicken dishes such as chicken joys and double Downers along with speciality items such as Kentucky fried chicken with gravy and garlic mashed potatoes.

COVID-19 Influence on the Philippines Ready To Eat Food Market 

The occurrence of the Covid-19 pandemic has resulted in a slump in market growth. However, Retail stores account for the largest share of the market, followed by food service establishments and home-based businesses. In terms of retail stores, these are mainly located in major malls and shopping centres across the country. Foodservice establishments are prevalent in high-end restaurants and hotels, while home-based businesses account for a majority of the market share in rural areas. 

Key Attractiveness of the Report

  • COVID-19 Influence on the Market Dynamics.
  • 10 Years of Market Data.
  • Historical Numbers from 2018 to 2021.
  • Base Year: 2021
  • Market Forecast Data Until 2028
  • Key Performance Indicators Influencing the Market.
  • Key Developments and Projects.

Key Highlights of the Report

  • Philippines Ready to Eat Food Market Overview
  • Philippines Ready to Eat Food Market Outlook
  • Philippines Ready to Eat Food Market Forecast
  • Philippines Ready to Eat Food Market Size and Philippines Ready to Eat Food Market Forecast until 2028
  • Philippines Ready to Eat Food Market Share, By Types
  • Philippines Ready to Eat Food Market Share, By Product
  • Philippines Ready to Eat Food Market Share, By Distribution Channels
  • Philippines Ready to Eat Food Market Share, By Region
  • Historical Data of Philippines Ready to Eat Food Market Revenues and Volume for the period, 2018-2028
  • Market size and Forecast of Philippines Ready to Eat Food Market Revenues and Volume until 2028
  • Historical Data of Philippines Ready to Eat Food Market Revenues and Volume, By Product Types, for the Period 2018-2028
  • Market size and Forecast of Philippines Ready to Eat Food Market Revenues and Volume, By Product Types, until 2028
  • Historical Data of Philippines Ready to Eat Food Market Revenues and Volume, By Distribution Channels, for the Period 2018-2028
  • Market size and forecast of Philippines Ready to Eat Food Market Revenues and Volume, By Distribution Channels, until 2028
  • Historical Data of Philippines Ready to Eat Food Market Revenues and Volume, By Region, for the Period 2018-2028
  • Market size and Forecast of Philippines Ready to Eat Food Market Revenues and Volume, By Region, until 2028
  • Philippines Ready to Eat Food Market Drivers and Restraints
  • Philippines Ready to Eat Food Market Trends and Industry Life Cycle
  • Porter’s Five Force Analysis
  • Philippines Ready to Eat Food Market Opportunity Assessment
  • Philippines Ready to Eat Food Market Revenue Share, By Company
  • Philippines Ready to Eat Food Market Overview on Competitive Benchmarking
  • Company Profiles
  • Key Strategic Recommendations

Markets Covered

The report delivers a widespread study of the subsequent market segments:

By Product Type

  • Instant Breakfast/Cereals
  • Instant Soups And Snacks
  • Ready Meals
  • Baked Goods
  • Meat Products & Others

By Distribution Channel

  • Hypermarkets/Supermarkets
  • Online Retail Stores
  • Convenience Stores
  • Others
Philippines Ready to Eat Food Market: FAQs
Ready meals account for the maximum market share in the Philippines Ready To Eat Food Market.
Yes, the report includes the stimulus of COVID-19.
Supermarkets and hypermarkets are projected to record the highest share in future.
The growth of the market is attributed to increasing urbanization, rising disposable incomes, and growing health consciousness among consumers.
Some of the major companies in the market are Nestle SA, Unilever Nederland BV, Mars Incorporated and General Mills Incorporated.
Yes, we provide customisation as per your requirements. To learn more, feel free to contact us on sales@6wresearch.com
1. Executive Summary
2. Introduction
2.1. Report Description
2.2. Key Highlights of The Report
2.3. Market Scope & Segmentation
2.4. Research Methodology
2.5. Assumptions
3. Philippines Ready to Eat Food Market Overview
3.1. Philippines Ready to Eat Food Market Revenues, 2018-2028F
3.2. Philippines Ready to Eat Food Market Revenue Share, By Product Types, 2021 & 2028F
3.3. Philippines Ready to Eat Food Market Revenue Share, By Distribution Channels, 2021 & 2028F
3.4. Philippines Ready to Eat Food Market Revenue Share, By Countries, 2021 & 2028F
3.5. Philippines Ready to Eat Food Market Industry Life Cycle
3.6. Philippines Ready to Eat Food Market- Porter’s Five Forces
4. Philippines Ready to Eat Food Market Dynamics
4.1. Impact Analysis
4.2. Market Drivers
4.3. Market Restraints
5. Philippines Ready to Eat Food Market Trends
6. Philippines Ready to Eat Food Market Overview, By Product Types
6.1. Philippines Ready to Eat Food Market Revenues, By Instant Breakfast/Cereals, 2018-2028F
6.2. Philippines Ready to Eat Food Market Revenues, By Instant Soups and Snacks, 2018-2028F
6.3. Philippines Ready to Eat Food Market Revenues, By Ready Meals, 2018-2028F
6.4. Philippines Ready to Eat Food Market Revenues, By Baked Goods, 2018-2028F
6.5. Philippines Ready to Eat Food Market Revenues, By Others, 2018-2028F
6.6. Philippines Ready to Eat Food Market Revenues, By Meat Products, 2018-2028F
7. Philippines Ready to Eat Food Market Overview, By Distribution Channels
7.1. Philippines Ready to Eat Food Market Revenues, By Online Retailers, 2018-2028F
7.2. Philippines Ready to Eat Food Market Revenues, By Convenience Stores, 2018-2028F
7.3. Philippines Ready to Eat Food Market Revenues, By Hypermarkets/Supermarkets, 2018-2028F
7.4. Philippines Ready to Eat Food Market Revenues, By Others, 2018-2028F
8. Philippines Ready to Eat Food Market Overview, By Region
8.1. Philippines Ready to Eat Food Market Revenues, By Region, 2018-2028F
8.2. Philippines Ready to Eat Food Market Volume, By Region, 2018-2028F
9. Philippines Ready to Eat Food Market Key Performance Indicators
10. Philippines Ready to Eat Food Market Opportunity Assessment
10.1. Philippines Ready to Eat Food Market, Opportunity Assessment, By Product Types, 2025F
10.2. Philippines Ready to Eat Food Market, Opportunity Assessment, By Region, 2025F
11. Philippines Ready to Eat Food Market Competitive Landscape
11.1. Philippines Ready to Eat Food Market Competitive Benchmarking, By Product
11.2. Philippines Ready to Eat Food Market Revenue Share, By Company, 2021
12. Company Profiles
13. Key Strategic Recommendations
14. Disclaimer
 

Market Forecast By Product Types (Instant Breakfast/Cereals, Instant Soups and Snacks, Ready Meals , Baked Goods, Meat Products & Others), By Distribution Channels (Hypermarkets/Supermarkets, Online Retail Stores , Convenience Stores & Others) and competitive landscape

Product Code: ETC003356 Publication Date: Aug 2020 Product Type: Report
Publisher: 6Wresearch No. of Pages: 70 No. of Figures: 35 No. of Tables: 5

Philippines Ready to Eat Food market is expected to register growth in the coming years on the back of robust economic growth of the country coupled with an increase in the disposable income of the consumers which is leading to the rising need for convenient and less time-consuming cooking options. Also, rising awareness regarding food awareness and safety is anticipated to trigger the potential growth of the Philippines ready to eat food market in the coming years. Further, changing meal patterns of the consumers are also expected to instigate demand for ready to eat foodstuffs in the years to come.

According to 6Wresearch, the Philippines Ready to Eat Food Market is anticipated to witness growth during the forecast period 2020-26F. The spread of COVID-19 is anticipated to spur the sales of Ready to Eat Food across the Philippines owing to the rising involvement of the natives towards the procurement of dry food on the back of hygiene concerns. However, a spur in the rapid demand for packed foods as compared to short supply owing to complete lockdown and suspension of the production activities is anticipated to hinder the growth of the Philippines Ready to Eat Food market during the year 2020. However, since the COVID spread would take time to slow down, increased hygiene concerns in the latter part of 2020 and the beginning of 2021 would offer lucrative growth opportunities to the Philippines Ready to Eat Food market in the coming years.

On the basis of distribution channels, hypermarkets/supermarkets are expected to register the highest growth rate in the coming years in the overall Philippines ready to eat food market owing to the spacious, clean, and hygienic environment provided by the hypermarkets/supermarkets and is taking away to the interest of the consumers to adopt such shopping methods and would, further benefit the Philippines ready to eat food market capture sound revenues in the coming years.

The Philippines Ready to Eat Food report thoroughly covers the market by Product Types and by Distribution Channels. Philippines Ready to Eat Food outlook report provides an unbiased and detailed analysis of the on-going Philippines Ready to Eat Food trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

Owing to rising obesity rates amongst the youth which is increasing adoption of healthier lifestyles by consumers coupled with rising trends of buying premium confectionery products. Additionally, a rise in disposable income of the consumers coupled with increased investments by international Ready to Eat Food brands in the country’s local market to boost the sales of the product coupled with a strong consumer base for canned fruits, and canned fish is anticipated to boost the market growth of the Philippines Ready to Eat Food market during the projected period. Additionally, increased consumer preference regarding the hygiene concerns to contain the spread of the virus. However, backed by the complete lockdown in the country, consumer spending is likely to be hampered which would restrain the growth of the Philippines ready to eat food market during 2020. But, as the disease outbreak registers downfall, ready to eat food is anticipated to register substantial sales volume by the one doth year 2020 on the back of shelf-piling dry food concerns in the country and reversal of the production cycle. On the basis of products, meat products, and breakfast/cereals are expected to dominate the overall revenues in the overall Philippines ready to eat food market owing to rising consumer preference for the indulgence of healthy alternatives in their meal to ensure necessary health standards coupled with a change in food preferences and lifestyles of the people of the country. Moreover, at the time of festivities, increased demand for ready to eat meat products is witnessed owing to demand for low cooking time food to address important chores of the festival also. 

Key Highlights of the Report:

  • Philippines Ready to Eat Food Market Overview
  • Philippines Ready to Eat Food Market Outlook
  • Philippines Ready to Eat Food Market Forecast
  • Philippines Ready to Eat Food Market Size and Philippines Ready to Eat Food Market Forecast until 2025
  • Philippines Ready to Eat Food Market Share, By Types
  • Philippines Ready to Eat Food Market Share, By Product
  • Philippines Ready to Eat Food Market Share, By Distribution Channels
  • Philippines Ready to Eat Food Market Share, By Region
  • Historical Data of Philippines Ready to Eat Food Market Revenues and Volume for the period, 2015-2018
  • Market size and Forecast of Philippines Ready to Eat Food Market Revenues and Volume until 2025
  • Historical Data of Philippines Ready to Eat Food Market Revenues and Volume, By Product Types, for the Period 2015-2018
  • Market size and Forecast of Philippines Ready to Eat Food Market Revenues and Volume, By Product Types, until 2025
  • Historical Data of Philippines Ready to Eat Food Market Revenues and Volume, By Distribution Channels, for the Period 2015-2018
  • Market size and Forecast of Philippines Ready to Eat Food Market Revenues and Volume, By Distribution Channels, until 2025
  • Historical Data of Philippines Ready to Eat Food Market Revenues and Volume, By Region, for the Period 2015-2018
  • Market size and Forecast of Philippines Ready to Eat Food Market Revenues and Volume, By Region, until 2025
  • Philippines Ready to Eat Food Market Drivers and Restraints
  • Philippines Ready to Eat Food Market Trends and Industry Life Cycle
  • Porter’s Five Force Analysis
  • Philippines Ready to Eat Food Market Opportunity Assessment
  • Philippines Ready to Eat Food Market Revenue Share, By Company
  • Philippines Ready to Eat Food Market Overview on Competitive Benchmarking
  • Company Profiles
  • Key Strategic Recommendations

Markets Covered

The Philippines Ready to Eat Food Market report provides a detailed analysis of the following market segments:

  • By Product
    • Instant Breakfast/Cereals
    • Instant Soups and Snacks
    • Ready Meals
    • Baked Products
    • Meat Products
    • Others

  • By Distribution Channels:
    • Hypermarkets/Supermarkets
    • Online Retail Stores
    • Convenience Stores
    • Others

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