The official response to the COVID-19 pandemic during 2020, specifically the quarantine lockdowns that were introduced in various parts of the Philippines at different points during the year, supported strong growth in sales of processed meat and seafood throughout the year. In addition to the requirement for consumers to stay indoors for much of the time during the official quarantine knockdown periods, many people were reluctant to spend time outside of the home due to fears of contagion.
Metal food cans remained by far the most popular pack type in processed meat and seafood in 2021, with this being a reflection of the very strong demand for shelf stable meat and shelf stable seafood in the country. Many local consumers prefer processed meat and seafood in shelf stable formats due to the long shelf life of these products, their very reasonable unit prices and the tradition of eating various different types of canned meat and seafood.
For much of the review period, the inflation rate in the Philippines was quite high, which led to steady unit price increases being seen in processed meat and seafood. By the start of 2020, the situation had developed to the point that numerous players in shelf stable seafood, including major names such as Century Pacific Food, were introducing pack sizes such as 95g and 125g, which are considerably smaller than standard sizes, such as 155g and 420g.
In spite of the major spike in demand recorded by the category in 2020, the forecast period is expected to see further positive growth in sales of processed meat and seafood, with these products’ value-four-money image expected to stand them in good stead as the incomes of many local households are expected to remain under pressure due to the adverse and uncertain economic situation that has unfolded due to the COVID-19 pandemic. In particular, shelf stable meat and shelf stable seafood are seen as affordable sources of animal proteins among consumers with lower disposable incomes.
Recent years have seen consumers in the Philippines becoming more environmentally aware, as well as increasingly health-conscious. This trend is expected to accelerate substantially during the forecast period, with the outbreak of the COVID-19 pandemic having sharpened the focus of many Filipinos on their personal health as well as the wider ecological impact of consumer choices.
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Understand the latest market trends and future growth opportunities for the Processed Meat and Seafood Packaging 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 Processed Meat and Seafood Packaging research and analysis database.
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