Meals and soups is expected to record a slower retail volume CAGR over the forecast period than that seen over 2017-2022, a period that included the height of the COVID-19 crisis and the spike in sales resulting from the shift away from foodservice channels in favour of retail. With the forecast period expected to be characterised by a gradual consumer openness to going out, the category’s performance is expected to be more sluggish than during the review period during which consumers remained predominantly homebound in 2020 and 2021.
Soup is expected to see a more sluggish performance than ready meals over the forecast period, since the preparation of a separate soup dish is not customary amongst typical Philippine households. As a result, consumption of soup is expected to remain occasional over the forecast period and soup is set to be prepared mostly to add variety to a household’s daily meals.
In the final quarter of 2021, plant-based options started to become available in ready meals. Ulalammm Plus which is a shelf stable ready meal, was re-introduced in the last quarter of 2021, and now offers a plant protein option alongside an option containing meat.
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Understand the latest market trends and future growth opportunities for the Meals and Soups 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.
If you're in the Meals and Soups industry in Philippines, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Meals and Soups
This is the aggregation of ready meals, pizza, food kits, prepared salads, and soup. Includes: These are products that have had recipe 'skills' added to them by the manufacturer, resulting in a high degree of readiness, completion and convenience. Food kits is an exception where typically the extent of preparation is much shorter than other meal products; includes meal kits where consumers are to put together pre-portioned ingredients and cook with the guidance of recipe cards. Ready meals are generally accepted to be complete meals that require few or no extra ingredients. However, in the case of shelf stable ready meals, the term also encompasses meal 'centres’; for food kits, they do require a degree of cooking and preparation. As such, some meals may require cooking (ready-to-cook); others may simply need reheating, prior to serving (ready-to-eat). Excludes: Any products sold unpackaged and/or by weight, including food sold from a retail deli counter.See All of Our Definitions
This report originates from Passport, our Meals and Soups research and analysis database.
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