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Learn moreApr 2019
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The Philippines faced various policy changes which impacted the economy in 2018, raising uncertainties about Filipinos’ future spending. Filipinos were enjoying higher disposable incomes as a result of a reduction in personal tax, but towards the end of the year, consumers started to see price rises on basic goods, which made them more wary of spending.
With the implementation of the TRAIN (Tax Reform for Acceleration and Inclusion) law at the beginning of the year, Filipinos generally enjoyed higher disposable incomes, which increased their purchasing power, and positive effects were felt by most foodservice players. As the TRAIN law also comes with additional taxes, and due to other macroeconomic factors, inflation rose towards the end of 2018, pushing inflation to an all-time high.
Foodservice players are acting quickly to adapt to the changing needs and demands of Filipinos, who are becoming more sophisticated in their food choices. With increasing outbound travel and exposure to other countries’ cultures, Filipinos now expect to see more options in their own country.
As Filipino communities are scattered across the globe, foodservice players see this as an opportunity to expand to other markets by taking homegrown brands to Filipinos outside the country. Jollibee is the most popular Filipino brand making its global mark.
As demand continues to rise and dining has not been significantly affected by changes in the economy, consumer foodservice is expected to continue to grow steadily in the forecast period. However, a “shrinkation” trend is inevitable, because foodservice players will continue to manage cost pressures internally to avoid increasing prices further, leading to strictly controlled portions.
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Overview
Discover the latest market trends and uncover sources of future market growth for the Consumer Foodservice industry in Philippines with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
If you're in the Consumer Foodservice industry in Philippines, our research will save you time and money while empowering you to make informed, profitable decisions.
When you purchase this report, you also get the data and the content from these category reports in Philippines for free:
The Consumer Foodservice in Philippines market research report includes:
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Why buy this report?
This industry report originates from Passport, our Consumer Foodservice market research database.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.