The Philippines – The Future of Foodservice to 2021

2017-06-30
Price :
Published : Jun-2017
No. of Pages : 131

The Philippines – The Future of Foodservice to 2021

Summary

Philippines’ economy saw strong growth between 2014 and 2016, and incomes are expected to continue rising beyond 2021. Consumer prices are, however, also forecast to increase significantly over the six-year period. The Philippines has a relatively high population growth rate and, on average, a young population. The country is also urbanizing rapidly, opening up new opportunities for foodservice operators.

Revenue in the profit sector within the foodservices industry rose at a CAGR of 4.2% between 2014 and 2016. Value growth is forecast to accelerate to 2021, at a strong CAGR of 5.1%. Growth in the overall profit sector reflects rising incomes, growth in urbanization and increased consumer confidence in the Philippines. Transaction growth is driving value growth in all channels to a greater extent than rising numbers of outlets, although outlet growth is still strong across a number of channels, driven by a buoyant property market.

Quick Service Restaurants (QSR) channel is the largest channel by revenue in the Philippines’ profit sector foodservice market, accounting for approximately 38.0% of total
sector revenue in 2016. The channel has grown rapidly, pushed by rising levels of urbanization and by the country’s growing middle class.

Full Service Restaurants (FSR) channel is the Philippines’ second largest profit sector foodservice channel in terms of sales value, accounting for 21.1% of total sector revenue in 2016. The channel has seen strong growth, driven by rising incomes in Filipino cities.

Branding plays a key role in foodservices restaurants, with consumers willing to seek out, and travel to visit, their favourite branded operator. As smartphones become more embedded in the Philippines, especially among the young and affluent consumers, brand loyalty can be leveraged by launching smartphone-based loyalty schemes, emulating those used in other regional markets, such as Japan and China. Added-value convenience factors, such as free Wi-Fi, are also popular, and drive visits by consumers wishing to utilize the space to work and socialize with colleagues.

The report “The Philippines – The Future of Foodservice to 2021” provides extensive insight and analysis of the Philippines’ foodservice market over the next five years (2016-2021) and acts as a vital point of reference for operators or suppliers.

In particular, this report provides the following analysis –
– Overview of the Philippines’ macro-economic landscape: Detailed analysis of current macro-economic factors and their impact on the 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 Shops and Pubs, Clubs & Bars) within the 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.
– Case Studies: Learn from examples of recent successes and failures within the Filipino foodservice market.

Companies mentioned in this report: Bo’s Coffee, Chooks to Go, Duskin Co., Figaro Coffee, Jollibee Foods Corp., KFC, McDonald’s, Mister Donut, Padi’s Point, Starbucks, The Coffee Bean & Tea Leaf, Yum! Brands.

Scope

– The QSR channel is the largest channel by revenue in the Philippines’ profit sector foodservice market, accounting for approximately 38.0% of total sector revenue in 2016. Although independent operators claimed a 62.5% share of channel revenue in 2016, the top twenty QSR brands in the country, led by Duskin Co.’s Mister Donut, home-grown Jollibee and global giants McDonald’s and KFC, accounted for a combined 29.4% share of the market.
– The FSR channel is the Philippines’ second largest profit sector foodservice channel in terms of sales value, accounting for 21.1% of total sector revenue in 2016. To 2021, the channel will see a rising demand for convenience. Delivery services and a growing presence of FSR outlets in shopping malls will be key to meeting this demand. As incomes rise, health concerns will also drive a growing share of consumers’ foodservice decisions.
– Branding plays a key role in the Filipino coffee & tea shop channel, with consumers willing to seek out, and travel to visit, their favorite branded operator. As smartphones become more embedded in the Philippines, especially among the young and affluent consumers, brand loyalty can be leveraged by launching smartphone-based loyalty schemes. Added-value convenience factors, such as free Wi-Fi, are also popular, and drive visits by consumers wishing to utilize the space to work and socialize with colleagues.

Reasons to buy

– Specific forecasts of the Filipino foodservice market over the next five years (2016-2021) 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 Shops and Pubs, Clubs & Bars) will allow readers understand the wants and needs of their target demographics.
– Relevant case studies will allow readers to learn from and apply lessons discovered by emerging and major players within the Filipino foodservice market.

Filed in: Food & Beverage
Publisher : GlobalData
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