Sales of frozen desserts are negligible in the Philippines, with ice cream thus accounting for all sales. Following the outbreak of COVID-19 in the country sales of ice cream plummeted.
There has been little change in the competitive landscape in 2021, with Unilever RFM Ice Cream Inc retaining its dominant position. Nonetheless, the leading players in ice cream and frozen desserts responded in various ways to the challenges presented by COVID-19.
Despite the uncertainty created by COVID-19 new players and products continue to appear in ice cream in 2020/2021. For example, Fruitas Holdings Inc, which operates food stalls/kiosks that are located in shopping malls, launched its own range of premium ice cream towards the end of 2020, which is available through the company’s Babot’s Farm and Soy & Bean outlets.
Ice cream is projected to bounce back strongly from 2022 onwards having started on the path to recovery in 2021. The category is receiving a lot of focus in terms of new product development and innovation, from new flavours and formats to products targeting those with special dietary requirements, such as dairy-free ice cream.
Traditionally, major brands such as Selecta, Cornetto, and Magnolia have dominated ice cream, benefiting from their widespread availability through modern grocery retailers, as well as most other distribution channels that stock ice cream. There are signs, however, that this dominance could be challenged moving forward with a growing number of local and artisanal brands establishing a stronger foothold in the market.
The range of dairy-free alternatives is expected to continuously grow in number over the forecast period as people become increasingly familiar with how their diet can affect their health. Creating dairy-free ice cream is seen as one means by which companies will look to improve the appeal of their brands among the growing number of health conscious individuals.
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Understand the latest market trends and future growth opportunities for the Ice Cream and Frozen Desserts industry in Philippines with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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This report originates from Passport, our Ice Cream and Frozen Desserts research and analysis database.
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