Consumer foodservice reports better performance in 2013
The Philippines’ vibrant economic performance and the high consumer confidence in 2013 stimulated the growth of consumer foodservice. Dining out continues to become an important aspect of Filipinos’ family bonding, relaxation, self-reward and indulgence. The proliferation of more shopping centres and chained modern grocery retailing channels is helping in the expansion of the industry’s network of outlets. Meanwhile, value meals encouraged consumers to dine out more often.
Local competitive landscape welcomes more foreign entrants
The growing affluence in urban areas encouraged the entry of more foreign brands into the Philippines. Diners’ exposure to well-known global consumer foodservice brands through their travels abroad and social media made them familiar with certain brand names and open to new concepts. More Filipinos notably prefer “authentic” food offerings, which is giving positive opportunities to Asian and Western brands. Among the most popular entrants in 2013 are IHOP, Slappy Cakes, Chef Noodles, and Ramen Nagi, among others.
Jollibee Foods Corp dominates consumer foodservice
Jollibee Foods Corp remains the undisputed branded leader in the consumer foodservice industry in the Philippines, with its wide portfolio of fast food brands which account for strong value shares within their respective categories. In value terms, the company leads in pizza fast food, chicken fast food, bakery products fast food, and is ranked second in burger fast food and Asian fast food. During 2013, Jollibee Foods Corp’s growth was supported by its aggressive expansion scheme, advertising campaigns, and focus on value meals in its bid to boost transaction numbers. Meanwhile, the company is also seeking to expand sales through opening more drive-through outlets.
Fast food reports the most vibrant performance
Fast food surpassed value growth in all consumer foodservice categories in 2013. Fast food continues to attract more middle-income consumers with its wide range of highly-affordable products, quick service, and clean and comfortable ambiance. The aggressive advertising campaigns of major players, together with their promotional campaigns and focus on value-orientated dining contributed to the increase in consumer demand. The opening up of shopping centres and other retail locations in provincial areas provided fast food operators with high potential locations for their newly-opened outlets.
Consumer foodservice faces better prospects in the medium term
The local consumer foodservice industry is expected to benefit from the positive economic prospects over the forecast period. Euromonitor International projects that the country’s real GDP is expected to experience annual growth of 5.8% from 2014 to 2018. This is expected to stimulate the trend towards dining out among middle-income and more affluent consumers. Young professionals, as well as the families of OFWs (Overseas Filipino Workers) in the Philippines will drive growth in transactions.
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The Consumer Foodservice in Philippines market research report includes:
- Analysis of key supply-side and demand trends
- Historic volumes and values, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent market research methodology, conducted in-country
Our market research reports answer questions such as:
- What is the market size of Consumer Foodservice in Philippines?
- What are the major brands in Philippines?
- How are economic or demographic factors impacting the foodservice industry in #Country»?
- How are multinational and local operators expanding in #Country»?
- How have consumer lifestyle trends and eating habits influenced foodservice in #Country»?
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This industry report originates from Passport, our Consumer Foodservice market research database.