Over the forecast period, there is anticipated to be a further improvement in the economy in the Philippines, which in turn should improve the growth prospects for chocolate confectionery. While the category is not considered a basic need, the efforts of incumbent players to expand the product variety and to offer products across various price points should improve the growth prospects for chocolate confectionery.
Even though there are no longer any COVID-19 restrictions in place there are some individuals who have grown to appreciate the convenience and price discounts offered through retail e-commerce. As such, there is anticipated to be an expansion of e-commerce as a retail channel for chocolate confectionery as more manufacturers and brands are seeing the value and potential of this channel.
Thanks to the economic recovery that is underway in the Philippines, chocolate confectionery is projected to see healthy growth over the forecast period with both the retail and foodservice channels set to see increased demand. For growth to be sustainable, however, it will be important for brands to have cost-containment strategies as any significant increase in unit prices would likely have a big impact on volume sales given the price sensitivity of many consumers in the Philippines.
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Understand the latest market trends and future growth opportunities for the Chocolate Confectionery 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 tablets, countlines, chocolate pouches and bags, boxed assortments, seasonal chocolate, chocolate with toys, and other chocolate confectionery. Nuts and fruits covered in chocolate are included in this category. Note that chocolate overtly positioned for baking/cooking purposes is excluded from Euromonitor International's confectionery coverage.See All of Our Definitions
This report originates from Passport, our Chocolate Confectionery research and analysis database.
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