Executive Summary

Nov 2019
PROSPECTS
Shelf-stable ready meals keeps driving growth, offering the widest number of options

Ready meals recorded faster value growth in 2019 versus 2018, as it addressed consumer demand for convenience and players in the major shelf-ready and frozen ready meals categories introduced more and also a greater variety of new products. Shelf-stable ready meals, the largest category, was the key growth driver with its nearly double-digit increase in value sales over the year, as it offers the widest number of brand options among significant categories in ready meals and is also affordable and within reach of the low-income group.

Ready meals offer expands significantly in 2018-2019

The ready meals offer within the country saw significant expansion in 2018-2019. From start-ups came Auntie Arnie’s line of gourmet frozen ready meals, which only require reheating.

Ready meals remains relatively undeveloped, but new brands and products keep breaking out

Ready meals remains relatively underdeveloped in the Philippines, with only a handful of brand options available in most categories, such as frozen pizza and dried ready meals. In frozen ready meals, and until recently, the only brands that have broken out and gained some traction are largely those that offer Chinese culinary snacks such as dumplings and other types of dim sum.

COMPETITIVE LANDSCAPE
Purefoods-Hormel maintains its lead with strong distribution and ability to tailor products to suit local tastes

The Purefoods-Hormel Co maintained its clear leadership in 2019 despite value share gains made at its expense by its closest competitors over the review period. Holding the lead in both frozen ready meals and shelf-stable ready meals, it derives strength from its extensive distribution reach.

Top two companies in ready meals are domestic players that operate in processed meat and seafood

The top two companies (The Purefoods-Hormel Co and Pacific Meat) in ready meals are domestic players that also operate in processed meat and seafood. It is easy for companies in processed meat and seafood to enter ready meals, especially shelf-stable ready meals, and it serves as a way for them to offer more value-added products to consumers.

With a new manufacturing plant becoming operational, San Miguel set to launch more ready meals options over the forecast period

San Miguel Corp/The Purefoods-Hormel Co is expected to launch more ready meals options over the forecast period once its new manufacturing plant for ready-to-eat products in Laguna becomes fully operational. Phase 1 of the ready-to-eat manufacturing plant was scheduled to start production in March 2019.

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Ready Meals in the Philippines

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Overview

Discover the latest market trends and uncover sources of future market growth for the Ready meals 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 Ready meals industry in Philippines, our research will save you time and money while empowering you to make informed, profitable decisions.

The Ready meals in Philippines market research report includes:

  • Analysis of key supply-side and demand trends
  • Detailed segmentation of international and local products
  • Historic volumes and values, company and brand market shares
  • Five year forecasts of market trends and market growth
  • Robust and transparent market research methodology, conducted in-country

Our market research reports answer questions such as:

  • What is the market size of Ready meals in Philippines?
  • What are the major brands in Philippines?
  • Will retail sales suffer as economic prospects improve and consumers move back to eating out rather than eating at home?
  • How are manufacturers leveraging popular restaurant chains to help more austere consumers recreate a restaurant experience at home?
  • How much are consumers willing to pay for convenience?

Why buy this report?

  • 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

This industry report originates from Passport, our Packaged Food market research database.

Ready Meals in the Philippines - Category analysis

HEADLINES

PROSPECTS

Shelf-stable ready meals keeps driving growth, offering the widest number of options
Ready meals offer expands significantly in 2018-2019
Ready meals remains relatively undeveloped, but new brands and products keep breaking out

COMPETITIVE LANDSCAPE

Purefoods-Hormel maintains its lead with strong distribution and ability to tailor products to suit local tastes
Top two companies in ready meals are domestic players that operate in processed meat and seafood
With a new manufacturing plant becoming operational, San Miguel set to launch more ready meals options over the forecast period

CATEGORY DATA

Table 1 Sales of Ready Meals by Category: Volume 2014-2019
Table 2 Sales of Ready Meals by Category: Value 2014-2019
Table 3 Sales of Ready Meals by Category: % Volume Growth 2014-2019
Table 4 Sales of Ready Meals by Category: % Value Growth 2014-2019
Table 5 Sales of Frozen Ready Meals by Ethnicity: % Value 2014-2019
Table 6 NBO Company Shares of Ready Meals: % Value 2015-2019
Table 7 LBN Brand Shares of Ready Meals: % Value 2016-2019
Table 8 Distribution of Ready Meals by Format: % Value 2014-2019
Table 9 Forecast Sales of Ready Meals by Category: Volume 2019-2024
Table 10 Forecast Sales of Ready Meals by Category: Value 2019-2024
Table 11 Forecast Sales of Ready Meals by Category: % Volume Growth 2019-2024
Table 12 Forecast Sales of Ready Meals by Category: % Value Growth 2019-2024

Packaged Food in the Philippines - Industry Overview

EXECUTIVE SUMMARY

Increased spending power supports faster value growth of packaged food in 2019
Along with other packaged food developments, a plethora of new products are introduced to meet demand for convenient, healthy, interesting and indulgent food
While Universal Robina maintains its overall lead, the competitive landscape sees significant expansion and other new developments in 2018-2019
Distribution developments include new players, acquisitions and some drop-outs, while modern grocery retailers continue to dominate sales
Ongoing demand for healthier, convenient and indulgent food will ensure continued growth for packaged food in the Philippines

FOODSERVICE

Sales to Foodservice
Beyond Meat’s plant-based meat substitutes, currently sold by bulk/wholesale only, are gaining traction in restaurants seeking to capitalise on demand for healthy and environmentally friendly products
Arla Pro, a dairy foodservice concept created for professionals, is launched at a major event featuring renowned chefs from throughout Southeast Asia demonstrating the use and versatility of Arla products
Sysu International hosts Taste Setters workshop to generate interest among foodservice players and food manufacturers in spicy up their menus and products with Tabasco dry mixes
Consumer Foodservice
Despite inflationary environment and related uncertainties, consumers with higher disposable incomes still choose to dine out, as some but not all foodservice operators choose not to raise their prices
Convenience stores limited-services restaurants are performing well, drive by ongoing rollouts of new concept stores, widening selection of ready meals, snacks and other food and increased dining space
Use of food delivery mobile apps continues to drive rapid growth of home delivery
Category Data
Table 13 Foodservice Sales of Packaged Food by Category: Volume 2014-2019
Table 14 Foodservice Sales of Packaged Food by Category: % Volume Growth 2014-2019
Table 15 Forecast Foodservice Sales of Packaged Food by Category: Volume 2019-2024
Table 16 Forecast Foodservice Sales of Packaged Food by Category: % Volume Growth 2019-2024

MARKET DATA

Table 17 Sales of Packaged Food by Category: Volume 2014-2019
Table 18 Sales of Packaged Food by Category: Value 2014-2019
Table 19 Sales of Packaged Food by Category: % Volume Growth 2014-2019
Table 20 Sales of Packaged Food by Category: % Value Growth 2014-2019
Table 21 GBO Company Shares of Packaged Food: % Value 2015-2019
Table 22 NBO Company Shares of Packaged Food: % Value 2015-2019
Table 23 LBN Brand Shares of Packaged Food: % Value 2016-2019
Table 24 Penetration of Private Label by Category: % Value 2014-2019
Table 25 Distribution of Packaged Food by Format: % Value 2014-2019
Table 26 Distribution of Packaged Food by Format and Category: % Value 2019
Table 27 Forecast Sales of Packaged Food by Category: Volume 2019-2024
Table 28 Forecast Sales of Packaged Food by Category: Value 2019-2024
Table 29 Forecast Sales of Packaged Food by Category: % Volume Growth 2019-2024
Table 30 Forecast Sales of Packaged Food by Category: % Value Growth 2019-2024

SOURCES

Summary 1 Research Sources