Cooking ingredients and meals in 2024: The big picture
While inflationary pressures continue in Philippines in 2024, cooking ingredients and meals overall is seeing sustained growth in both retail and foodservice. Products within edible oils and sauces maintain relevance as key ingredients that Filipino households treat as staples.
Key trends in 2024
At-home cooking is another trend still rising, despite the continued revival of foodservice. The convenience trend has been accelerating for several years.
Competitive landscape
Leading players such as San Pablo Mfg Corp, International Oil Factory, and Unilever Foods Philippines are maintaining their strongholds in 2024, with these three players ranked first, second and third in the industry overall, respectively. The government-owned and controlled organisation, San Pablo Mfg Corp, benefits from its long-standing brand, Minola, which is known for its coconut oil and offers multiple pack sizes which enable consumers with different budgetary constraints to purchase the brand.
Channel developments
Foodservice volume sales within cooking ingredients and meals is posting solid and moderate growth in 2024. Expansion is driven by increased mobility and dining out occasions, as well as the rise in the number of foodservice establishments in the review period.
What next for cooking ingredients and meals?
For cooking ingredients and meals overall, the outlook is positive with further growth anticipated through both retail and foodservice. during the forecast period.
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Overview:
Understand the latest market trends and future growth opportunities for the Cooking Ingredients and Meals industry in Philippines with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
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 Cooking Ingredients and Meals 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.
The Cooking Ingredients and Meals in Philippines report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Cooking Ingredients and Meals in Philippines?
- Which are the leading brands in Cooking Ingredients and Meals in Philippines?
- How are products distributed in Cooking Ingredients and Meals in Philippines?
- How is the rise of e-commerce and/or the expansion of modern grocery retail impacting traditional retail?
- What are the key health and wellness concerns driving, or challenging, sales in Cooking Ingredients and Meals?
- How significant are vegan and vegetarian dietary requirements in determining sales growth in Philippines?
- How has COVID-19 impacted consumer demand? To what extent have lockdown, home seclusion and stockpiling boosted sales? Will the longer term economic repercussions of the pandemic stimulate or suppress future growth?
- Where is future growth expected to be most dynamic?
- How significant will values-based claims, such as sustainability and ethical labelling, be in supporting future growth and brand equity?
Cooking Ingredients and Meals in the Philippines
Cooking ingredients and meals in 2024: The big picture
Key trends in 2024
Competitive landscape
Channel developments
What next for cooking ingredients and meals?
DISCLAIMER
Edible Oils in the Philippines
KEY DATA FINDINGS
Edible oils sees continued demand in 2024, bolstered by accelerating at-home cooking trend
Marketing strategies centre around ‘better-quality’ positioning within a competitive landscape led by Minola
Foodservice records solid gains in 2024
Health and wellness trends to support olive oil’s progress
Shift away from trans fats benefits edible oils, and vegetable and seed oils will remain key category segment
E-commerce to keep on rising though offline stores will remain dominant
Meals and Soups in the Philippines
KEY DATA FINDINGS
Meals and soups rises amid economic uncertainty
Convenience trends bolster soup, while Knorr remains leading brand in overall category
E-commerce sees increased dynamism in 2024
Foodservice growth will continue to accelerate
Health consciousness will continue to impact category development
Frozen ready meals may see greater distribution
Sauces, Dips and Condiments in the Philippines
KEY DATA FINDINGS
Category posts positive gains in 2024, driven by home cooking trend and brand expansion
Health and wellness impact remains strong, with Knorr spearheading education programmes
Foodservice volume sales growth continues to outpace retail in 2024
Positive gains ahead for sauces, dips and condiments
Greater product variety more likely, while mustard will still suffer
Health and wellness trends continue to shape the category
Sweet Spreads in the Philippines
KEY DATA FINDINGS
Increased snacking spurs growth in sweet spreads
Home cooking and health trends propel demand for honey
Premiumisation more pronounced in 2024
Sweet spreads to see further growth during forecast period
Health and wellness trends set to accelerate
E-commerce anticipated to take greater share as packaging options broaden
The following categories and subcategories are included:
Cooking Ingredients and Meals
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- Olive Oil
- Corn Oil
- Palm Oil
- Rapeseed Oil
- Soy Oil
- Sunflower Oil
- Other Edible Oil
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- Dried Ready Meals
- Shelf Stable Ready Meals
- Chilled Ready Meals
- Frozen Ready Meals
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- Dry Soup
- Shelf Stable Soup
- Chilled Soup
- Frozen Soup
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- Chilled Pizza
- Frozen Pizza
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- Meal Kits
- Quick Recipe Kits
- Chilled Lunch Kits
- Prepared Salads
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- Liquid Stocks and Fonds
- Stock Cubes and Powders
- Gravy Cubes, Powders and Pots
- Monosodium Glutamate
- Herbs and Spices
- Tomato Pastes and Purées
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- Liquid Recipe Sauces (excl pasta sauces)
- Dry Recipe Sauces
- Pasta Sauces
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- Barbecue Sauces
- Fish Sauces
- Ketchup
- Mayonnaise
- Mustard
- Oyster Sauces
- Salad Dressings
- Soy Sauces
- Chili Sauces
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- Dips
- Yeast-based Spreads
- Pickled Products
- Other Sauces and Condiments
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- Honey
- Chocolate Spreads
- Jams and Preserves
- Nut and Seed Based Spreads
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 report originates from Passport, our Cooking Ingredients and Meals research and analysis database.
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