Philippines Foodservice Market Size and Trends by Profit and Cost Sector Channels, Consumers, Locations, Key Players and Forecast to 2027

Philippines Foodservice Market Size and Trends by Profit and Cost Sector Channels, Consumers, Locations, Key Players and Forecast to 2027

Summary

“Philippines Foodservice Market Size and Trends by Profit and Cost Sector Channels, Consumers, Locations, Key Players and Forecast to 2027” published by GlobalData provides extensive insight and analysis of the Filipino Foodservice market over the next five years (2022–27) and acts as a vital point of reference for operators or suppliers.

Revenues in the foodservice profit sector totaled PHP568.8 billion ($10.4 billion) in 2022, after decreasing at a negative CAGR of 6.3% during 2017–22. The number of transactions fell at a negative CAGR of 6.5% over this period, while the number of outlets declined at a negative CAGR of 0.1%. The tourism, food, and accommodation sectors were hit hard by closures and operational restrictions amid the COVID-19 pandemic. As a result, businesses have faced significant losses and increased debts in recent years. The Filipino government has taken numerous initiatives to assist struggling micro, small, and medium-sized enterprises (MSMEs). With the help of government support measures, the overall value of the foodservice sector will increase at a robust CAGR of 13.7% during 2022–27, while the number of transactions will rise at a CAGR of 9.9%.

The report includes -

• Overview of the Filipino macro-economic landscape: Detailed analysis of current macro-economic factors and their impact on Filipino foodservice market including GDP per capita, consumer price index, population growth and annual household income distribution.
• Growth dynamics: In-depth data and forecasts of key channels (QSR, FSR, Coffee & Tea Shop, and Pub, Club & bar) within Filipino foodservice market, including the value of the market, number of transactions, number of outlets and average transaction price.
• Customer segmentation: Identify the most important demographic groups, buying habits and motivations that drive out-of-home meal occasions among segments of the Filipino population.
• Key players: Overview of market leaders within the four major channels including business descriptions and number of outlets.

Scope

• The Philippines’ nominal GDP per capita increased by 10.9% annually in 2022. According to the Department of Finance, growth in the Philippines was driven by the services sector, which expanded by 9.1% in 2022. The unemployment rate in the Philippines decreased from 7.8% in 2021 to 5.8% in 2022. The value of the foodservice profit sector decreased at a negative CAGR of 6.3% during 2017–22, to stand at PHP568.8 billion ($10.4 billion) in 2022.
• The number of transactions declined at a negative CAGR of 6.5% during 2017–22, while the number of outlets fell at a negative CAGR of 0.1%. QSR was the largest channel in the sector, accounting for 55.8% of its overall value in 2022.
• The channel has remained popular among consumers because of its convenience, value for money, and secure delivery services. FSR was the second-largest channel in the foodservice profit sector, with a 17.8% share in 2022. It was followed by pub, club & bar, which accounted for a share of 6.9%. With the support of government measures, the overall value of the foodservice sector will increase at a CAGR of 13.7% during 2022–27, while the number of transactions will rise at a CAGR of 9.9%.

Reasons to Buy

• Specific forecasts of the foodservice market over the next five years (2022–27) will give readers the ability to make informed business decisions through identifying emerging/declining markets.
• Consumer segmentation detailing the desires of known consumers among all major foodservice channels (QSR, FSR, Coffee & Tea Shop, and Pub, Club & bar) will allow readers understand the wants and needs of their target demographics.