Other dairy recorded faster sales growth in 2020 than during earlier years of the review period as the category overcame maturity and the economic pressures created by the COVID-19 pandemic to generate a relatively positive performance. Growth rates slowed down during 2021 and although they remain moderate due to the aforementioned maturity of demand in the dominant category of plain condensed milk, the category appears to have benefited from the increased interest in home cooking and, in particular, the baking of traditional snacks and treats at home.
2021 saw Alaska Milk Corp maintain its position as the dominant leader in other dairy, purely by virtue of its dominant position in the key category of condensed milk. The consumer base for Alaska’s condensed milk is not limited to private households and individual consumers, with the company also actively targeting very many small-scale entrepreneurs and independent businesses operating in the consumer food service industry.
The increased interest in other dairy towards the end of the review period inspired many of the leading players in the category to launch new products in the hope of tapping into buoyant demand for condensed milk within the context of the rising interest in home cooking and home baking among the Philippine population. Among the most prominent of these launches is Pascual Pudding, which was launched during September 2020.
Other dairy is expected to continue recording relatively strong sales growth during the forecast period, with the increased demand for condensed milk due to the increased interest in home cooking and home baking set to be central to this trend. Despite the category’s maturity, sales are expected to continue rising at far higher rates than what was being seen prior to the onset of the COVID-19 pandemic, with consumers expected to remain reluctant to dine and socialise outside of the home until at least the end of 2022.
Flavoured condensed milk is currently a negligible category in the Philippines and range of options available in the category in terms of brands and products is still limited. However, with demand for commencement generally set to continue rising, less well-known brands are likely to emerge strongly, driving sales via their stronger presence on the shelves of grocery retailers.
In addition to the flavour innovation mentioned above, there is strong potential for condensed milk to experience strong development during the forecast period via the introduction of plant-based alternatives to traditional dairy-based condensed milk. Although such plant-based alternatives are not currently available via major grocery retailers, the spreading appreciation of plant-based alternatives among the Philippine population makes it increasingly likely that the leading players in condensed milk will look to non-dairy alternatives to expand their customer bases and offer something different which can attract the attention of affluent, health-conscious urban-dwellers in particular.
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Understand the latest market trends and future growth opportunities for the Other Dairy 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 Other Dairy research and analysis database.
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