Baked goods is expected to record a stronger CAGR over the forecast period versus the historic period. It should be noted that the historic period includes the 2021 growth wherein baked goods declined (due to different reasons enumerated above), and this is one reason why the historic period is slower versus the forecast period.
Although community bakeries/small bakeries might be closing down due to the difficult business environment, some big players are venturing into expanding their bakery outlets. One example is seen with Balai ni Fruitas Inc, which was listed on the local stock exchange in June 2022.
Leading player, Gardenia Bakeries (Philippines) Inc, seems to be aware of the intensifying competition in baked goods, and is already making moves to diversify its business – which is very much currently concentrated on baked goods. In January 2022, it invested approximately SGD500,000 in paid-up capital for a newly incorporated, wholly owned subsidiary, Gardenia (Philippines) Trading and Distribution Corp, for it to engage in trade and distribution operations in the country.
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Understand the latest market trends and future growth opportunities for the Baked Goods industry in Philippines with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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Data and analysis in this report provides further detailed coverage dedicated to a comprehensive range of core packaged food categories.
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This is the aggregation of bread, pastries, dessert mixes, frozen baked goods and cakes. Note: Baked goods from in-store bakeries are classified under unpackaged/artisanal, not packaged/industrial. While they may be finished on-site, they are often prepared, then frozen or par-baked, at other locations. Such production models are very important for supermarket in-store bakeries, which have in the past been used to drive traffic and fill stores with appetising aromas, but for which the labour resources required to run a full-service scratch bakery are not always available.See All of Our Definitions
This report originates from Passport, our Baked Goods research and analysis database.
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