Philippines Dairy Market Report and Forecast 2024-2032

Philippines Dairy Market Report and Forecast 2024-2032

Philippines Dairy Market Report and Forecast 2024-2032

Market Outlook

According to the report by Expert Market Research (EMR), the Philippines dairy market size reached a value of USD 3.22 billion in 2023. Aided by the shifting consumer preferences, technological advancements, and evolving market dynamics, the market is projected to further grow at a CAGR of 6.8% between 2024 and 2032 to reach a value of USD 5.84 billion by 2032.

Dairy products play an integral role in the Filipino diet, encompassing a wide range of products such as milk, cheese, yoghurt, and butter. With a growing population and rising disposable incomes, the demand for dairy products in the Philippines continues to rise, driven by factors such as urbanisation, changing dietary habits, and increasing awareness of the nutritional benefits of dairy consumption.

The growing awareness of the health benefits associated with dairy consumption is driving Philippines dairy market growth. Dairy products are valued for their rich nutritional content, including calcium, protein, vitamins, and minerals, which are essential for bone health, muscle development, and overall well-being. As consumers become increasingly health-conscious, there is a growing preference for fortified and functional dairy products that offer additional health benefits.

Urbanisation and changing lifestyles are influencing consumption patterns in the Philippines which also propels the Philippines dairy market expansion, leading to increased demand for convenient and on-the-go dairy products. Ready-to-drink milk, single-serve yoghurts, and snack-sized cheese portions are gaining popularity among urban consumers who seek convenience, portability, and versatility in their dietary choices. Moreover, the growing popularity of Western-style diets and culinary trends is driving demand for cheese, cream, and speciality dairy products in urban areas.

As per the Philippines dairy market analysis, dairy manufacturers in the Philippines are focusing on innovation and product diversification to cater to evolving consumer preferences and market trends. From lactose-free and plant-based dairy alternatives to artisanal cheeses and flavoured yoghurts, companies are introducing a diverse range of products to capture niche segments and meet the demands of discerning consumers. Additionally, the introduction of value-added dairy products such as probiotic yoghurts, functional beverages, and high-protein milkshakes is driving growth and differentiation in the market.

The rapid growth of e-commerce platforms and digitalisation is reshaping the retail landscape in the dairy market in the Philippines. Online grocery platforms, food delivery services, and direct-to-consumer channels are gaining traction as consumers seek convenient and contactless shopping experiences. Dairy companies are leveraging digital marketing, e-commerce platforms, and mobile applications to reach consumers directly, promote their products, and drive online sales, facilitating greater accessibility and reach in the market.

The growing popularity of plant-based diets and lactose intolerance awareness is driving demand for plant-based dairy alternatives in the Philippines. As per the Philippines dairy market outlook, almond milk, soy milk, coconut milk, and oat milk are increasingly favoured by consumers seeking dairy-free options that are lower in cholesterol, lactose-free, and environmentally sustainable. Dairy manufacturers are expanding their product portfolios to include plant-based alternatives and innovating with new ingredients and formulations to cater to the growing demand for dairy-free options.

Sustainability and ethical sourcing practices are gaining importance in the market, driven by consumer concerns about environmental impact, animal welfare, and ethical farming practices. Dairy companies are adopting sustainable farming methods, investing in animal welfare initiatives, and implementing eco-friendly packaging solutions to minimise their carbon footprint and promote responsible consumption, which contributes to the Philippines dairy market share.

Premiumisation and artisanal offerings are gaining traction in the market as consumers seek high-quality, gourmet, and indulgent dairy products. Artisanal cheeses, speciality yoghurts, and premium ice creams made from locally sourced ingredients and traditional production methods are resonating with discerning consumers looking for unique flavour profiles, authenticity, and craftsmanship.

Market Segmentation

The market can be divided based on product.

Market Breakup by Product

• Fluid/UHT/Flavoured Milk
• Cream
• Butter
• Anhydrous Milk Fat (AMF)
• Skimmed Milk Powder/Non-Fat Dry Milk
• Whole Milk Powder
• Whey Protein (Powder and Concentrate)
• Lactose
• Casein
• Cheese
• Yoghurt
• Ice-Cream
• Probiotic Dairy Products

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the Philippines dairy market. Some of the major players explored in the report by Expert Market Research are as follows:

• Nestlé Philippines
• Alaska Milk Corporation
• Yakult Philippines Incorporated
• San Miguel Food and Beverage, Inc.
• Century Pacific Food Incorporated
• Mondelez International
• Fonterra Co-operative Group Limited
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.