Top Growth Opportunities: Dairy & Soy Food in the Philippines

2017-08-10
Price :
Published : Aug-2017
No. of Pages : 114

Top Growth Opportunities: Dairy & Soy Food in the Philippines

Summary

Philippines ranks as one of the smallest market in the global Dairy & Soy Food sector in terms of per capita expenditure in US$ terms, though larger than China and Indonesia. Though population rates and disposable income are increasing in the country, the Filipino Dairy & Soy Food market currently does not see a comparatively large average spend. However, favourable conditions in recent years mean that this is now growing.

Philippines’ Dairy market is stable and growing steadily, with a value projection of US$10.2 Billion by 2021. The Philippines imports nearly all of its Dairy products, as domestic production cannot meet the country’s Dairy requirement. Although traditional Filipino cuisine does not have any place for Dairy products, consumption has grown, influenced by the rising health consciousness amongst the burgeoning middle class. Increasingly busy lifestyles will also positively affect the sector. Thanks to rapid urbanisation and rising incomes, the country is consuming Dairy at one of the fastest-growing rates in the world. Since 2015, the government has been promoting school milk consumption.

Off-trade Dairy sector accounts for a higher value in US$ terms than the On-trade, an effect mirroring general moves amongst Filipino consumers towards more consumption within the home. However, both the Off-trade and On-trade Dairy sectors have recorded similar growth rate in US$ terms in the last five years. Increased health consciousness amongst young consumers and their hectic lifestyles are favoring the growth of the Dairy & Soy Food market in the country.

The report “Top Growth Opportunities: Dairy & Soy Food in the Philippines”, provides recommended actions and detailed analysis of how to target the best growth opportunities for dairy and soy food producers and retailers. Readers can understand what categories, channels, companies, and consumers will drive the success of dairy and soy food markets in Philippines.

In depth, this report provides the following analysis –
- Key consumer demographic groups driving consumption within the Philippines market. Improve your consumer targeting by understanding who’s driving the market, what they want, and why.
- A study of market value and volumes over 2011-2016 for Philippines, supplemented with category, brand and packaging analysis that shows the current state of the market, and how it will evolve over the 2016-2021 period.
- White space analysis, to pinpoint attractive spaces in the market and the key actions to take.
- Insight into the implications behind the data, and analysis of how the consumer needs will evolve in the short-to-medium term future.
- Examples of international and regional product innovation targeting key consumer needs.

Companies mentioned in this report: Filipino Seven Corp, Fonterra Co-operative Group, Lawson, Metro Supermarket, Nestle S.A., Pure Gold Jr, Puregold Price Club Inc, Robinsons Supermarket, Royal Friesland Campina N.V, SM Hypermarket and SM Supermarket, Super8 Grocery Warehouse, WalterMart.

Scope

- The Philippines ranks as one of the smallest market in the global Dairy & Soy Food sector in terms of per capita expenditure in US$ terms, though larger than China and Indonesia.
- After a period of strong growth at a CAGR of 6.1% in US Dollar terms between 2011 and 2016, the Philippines’s Dairy market will grow even faster in the five years to 2021, at a CAGR of 9.1%.
- Dairy consumption is centered on younger consumers. Having grown up in the age of globalization and Western influence, they have much more positive perceptions of Dairy products, especially in regards to health benefits.
- Over 2016-2021, Milk will remain the highest value category, while Soymilk & Soy Drinks, the smallest value category, is expected to record the fastest value growth in US$ over the same period.

Reasons to buy

- This report brings together consumer analysis and market data to provide actionable insight into the behavior of Philippines ‘s dairy consumers.
- This is based on GlobalData’s unique consumer data, developed from extensive consumption surveys and consumer group tracking, which quantifies the influence of 20 consumption motivations in the Dairy sector.
- Category, brand, and packaging dynamics are also examined.
- This allows product and marketing strategies to be better aligned with the leading trends in the market.

Filed in: Food & Beverage
Publisher : GlobalData
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