Executive Summary

Nov 2019
PROSPECTS
Soup struggles to gain traction in a country that traditionally prefers rice over soup for daily consumption

In 2018, the inflation rate rose significantly in the Philippines, and in times of high inflation where a household budget can buy fewer goods, consumers are likely to forego purchasing discretionary items such as soup. As such, 2018 growth was slower than it was in 2017.

Lack of innovation in soup is likely to constrain the category’s potential

Soup is relatively underdeveloped. Only two categories – shelf-stable soup and dehydrated soup – are significant in the Philippines.

Growing from a small base, dehydrated soup sees higher growth, but brand options remain limited, leaving it up to Knorr to create interest with new products

Value growth of dehydrated soup has outpaced that of shelf-stable soup for several years. It saw higher growth in 2019 and its growth rate is expected to continually exceed that of shelf-stable soup over the forecast period.

COMPETITIVE LANDSCAPE
Campbell Soup maintains its dominance on the strength of its strong line of shelf-stable soup, the largest soup category

Campbell Soup continued to dominate sales of soup, as its wide portfolio accounted for more than three quarters of the total value sales of shelf-stable soup in 2019, despite its local distributor not undertaking many promotional activities. Campbell’s is still able to drive sales through its presence in grocery retailers and because of the high brand equity of its shelf-stable soup, which is the largest soup category in the Philippines.

Lack of interest in soup is reflected in lack of company or brand activity in the category

There is not much company or brand activity in soup. There seems to be low interest among companies to enter the category or actively innovate, partly due to its discretionary nature.

Cagayan Valley Research Center produces a line of mung bean products, including soup, in an effort to support the region’s mung bean farmers

In recent years, the Department of Agriculture – Cagayan Valley Research Center has been developing different products from monggo (mung bean) in an effort to support the region’s mung bean producers. Cagayan Valley is one of the country’s top mung bean producers, contributing approximately a quarter of the total output.

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Soup in the Philippines

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Overview

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

The Soup 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 Soup 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?
  • Are consumers moving from traditionally canned and dehydrated variants to more innovative chilled, frozen and UHT formats?

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.

Soup in the Philippines - Category analysis

HEADLINES

PROSPECTS

Soup struggles to gain traction in a country that traditionally prefers rice over soup for daily consumption
Lack of innovation in soup is likely to constrain the category’s potential
Growing from a small base, dehydrated soup sees higher growth, but brand options remain limited, leaving it up to Knorr to create interest with new products

COMPETITIVE LANDSCAPE

Campbell Soup maintains its dominance on the strength of its strong line of shelf-stable soup, the largest soup category
Lack of interest in soup is reflected in lack of company or brand activity in the category
Cagayan Valley Research Center produces a line of mung bean products, including soup, in an effort to support the region’s mung bean farmers

CATEGORY DATA

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