Staple foods in 2024: The big picture
Retail sales of staple foods in the Philippines are projected to show positive growth in volume terms throughout 2024, despite sustained inflationary pressures that continue to push up food prices. This rise in costs is largely attributable to energy price hikes, unpredictable weather conditions, and a volatile global economy, which together have created a challenging environment for Filipino households.
Key trends in 2024
One key trend in staple foods for 2024 is the growing focus on health and wellness. With more Filipinos becoming conscious of the nutritional impact of the food they consume, brands are responding by emphasising the health benefits of their products and aligning their offerings with healthier lifestyle choices.
Competitive landscape
San Miguel Corporation's subsidiary, Purefoods-Hormel Corp, is poised to maintain its market leadership in 2024, thanks to its extensive and unmatched distribution network. The company’s processed meat products, including Purefoods Corned Beef, are readily available across a variety of channels, from modern retail outlets like hypermarkets and supermarkets to traditional sari-sari stores and community-based markets.
Channel developments
Bricks and mortar outlets are set to continue to dominate retail value sales of staple foods in the Philippines in 2024. However, it is worth noting that e-commerce has steadily increased its share over the review period, as major retailers establish their own online shopping platforms in order to adapt to a growing consumer demand for convenience.
What next for staple foods?
The retail market for staple foods in the Philippines is expected to experience moderate growth in volume terms over the forecast period, driven by a gradual economic recovery. As the job market expands, incumbent players are expected to benefit significantly, provided that they concentrate on optimising their distribution channels and actively pursuing innovation to stay competitive.
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Overview:
Understand the latest market trends and future growth opportunities for the Staple Foods 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 Staple Foods 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 Staple Foods 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 Staple Foods in Philippines?
- Which are the leading brands in Staple Foods in Philippines?
- How are products distributed in Staple Foods 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 Staple Foods?
- 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?
Staple Foods in the Philippines
Staple foods in 2024: The big picture
Key trends in 2024
Competitive landscape
Channel developments
What next for staple foods?
DISCLAIMER
Baked Goods in the Philippines
KEY DATA FINDINGS
Baked goods set to register sustained growth in 2024
Growing interest in better-for-you baked goods
Increase in product variety
Baked goods market will remain resilient, amid expanding distribution
On-the-go formats anticipated to see greater availability
Scope for premiumisation of baked goods
Breakfast Cereals in the Philippines
KEY DATA FINDINGS
Breakfast cereals maintains positive growth trajectory amid hectic lifestyles
Focus on nutritional content
E-commerce emerges as important source of growth
Better economic conditions will lead to increased demand
Greater emphasis on health aspects of cereals
On-the-go formats may see greater visibility
Processed Fruit and Vegetables in the Philippines
KEY DATA FINDINGS
Marketing initiatives create inspiring environment for processed fruit
Continued growth in foodservice, although demand remains below pre-pandemic levels
E-commerce drives consumer engagement
Further expansion expected, driven by convenience and affordability
Foodservice will remain key driver of volume growth
Plant-based diet culture may spur demand for shelf stable beans
Processed Meat, Seafood and Alternatives To Meat in the Philippines
KEY DATA FINDINGS
Market remains resilient despite inflationary pressures
Purefoods-Hormel seeks new growth avenues
Processed seafood and tofu and derivatives seek to leverage health and wellness trend
Retail and foodservice will see positive growth trajectory
Meat alternatives are anticipated to gain traction
Health and wellness trends will benefit processed seafood
Rice, Pasta and Noodles in the Philippines
KEY DATA FINDINGS
Packaged rice remains a staple in Filipino households
Instant noodles experience surge in popularity amid convenience-driven demand
Foodservice remains key channel for dried pasta
Better economic conditions and enhanced domestic supply should boost packaged rice sales
Premiumisation will play greater role
Wellness trends could inform product innovation, but adlai could pose a threat to healthier rice varieties
The following categories and subcategories are included:
Staple Foods
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- Packaged Flat Bread
- Unpackaged Flat Bread
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- Packaged Leavened Bread
- Unpackaged Leavened Bread
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- Packaged Cakes
- Unpackaged Cakes
- Dessert Mixes
- Frozen Baked Goods
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- Packaged Pastries
- Unpackaged Pastries
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- Sweet Pies and Tarts
- Frozen Cakes, Sweet Pies and Tarts
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- Hot Cereals
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- Children's Breakfast Cereals
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- Flakes
- Muesli and Granola
- Other RTE Cereals
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- Shelf Stable Beans
- Shelf Stable Fruit
- Shelf Stable Tomatoes
- Shelf Stable Vegetables
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- Frozen Fruit
- Frozen Processed Potatoes
- Frozen Processed Vegetables
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- Shelf Stable Processed Red Meat
- Shelf Stable Processed Poultry
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- Chilled Processed Red Meat
- Chilled Processed Poultry
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- Frozen Processed Red Meat
- Frozen Processed Poultry
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- Shelf Stable Seafood
- Chilled Processed Seafood
- Frozen Processed Seafood
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- Chilled Meat and Seafood Substitutes
- Frozen Meat and Seafood Substitutes
- Shelf Stable Meat and Seafood Substitutes
- Tofu and Derivatives
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- Chilled Noodles
- Frozen Noodles
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- Instant Noodle Cups
- Instant Noodle Pouches
- Plain Noodles
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- Chilled Pasta
- Dried Pasta
- Rice
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Staple Foods
NOTE: Couscous, polenta and quinoa are excluded from staple foods.
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This report originates from Passport, our Staple Foods research and analysis database.
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