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Market Research Report

Packaged Food in the Philippines

Published by	Euromonitor International
Published	December, 2009	Product code	117072
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Price	US $ 6500 PDF by E-mail (Single User License)

Introduction
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Packaged Food in the Philippines published by Euromonitor International in December, 2009. This report price starts from US $ 6500.

Introduction

Abstract

Euromonitor International' s Packaged Food in the Philippines market report offers a comprehensive guide to the size and shape of the market at a national level. It provides the latest retail sales data, allowing you to identify the sectors driving growth. It identifies the leading companies, the leading brands and offers strategic analysis of key factors influencing the market - be they new product developments, packaging innovations, economic/lifestyle influences, distribution or pricing issues. Forecasts illustrate how the market is set to change.

Why buy this report

Get insight into trends in market performance
Pinpoint growth sectors and identify factors driving change
Identify market and brand leaders and understand the competitive environment

Product coverage

Baby food; Bakery products; Canned/preserved food; Chilled processed food; Confectionery; Dairy products; Dried processed food; Frozen processed food; Ice cream; Impulse and indulgence products; Meal replacement products; Meal solutions; Noodles; Nutrition/staples; Oils and fats; Pasta; Ready meals; Sauces; dressings and condiments; Snack bars; Soup; Spreads; Sweet and savoury snacks

Executive summary

Ongoing current value growth bolstered by inflation

Packaged food saw ongoing current value growth in 2009 over the previous year, with growth slowing only slightly in comparison with the review period CAGR. However, this was largely due to inflation, with constant value sales seeing a marginal decline in the year. High inflation and rising unemployment resulted in many consumers cutting back on their expenditure in packaged food and selecting the cheapest option wherever possible.

Players compete on price

Price competition increased across packaged food towards the end of the review period, as consumers became increasingly price-sensitive. Despite high inflation and rising raw material and fuel costs, players thus sought to keep unit price increases to a minimum. This resulted in eroded unit prices for many product areas in constant value terms towards the end of the review period, with this trend exacerbated by the more frequent use of price promotions across packaged food.

Nestlé leads but faces competition from strong domestic players

Nestle Philippines Inc remained the leading player in packaged food in 2008. However, the company faced strong and growing competition from domestic players, including San Miguel Pure Foods Co Inc, Universal Robina Corp and Alaska Milk Corp. These players offer affordable prices and product ranges carefully tailored to appeal to Filipino consumers. They also supported their range with strong marketing, including less traditional channels. San Miguel Pure Foods Co Inc for example utilised TV show sponsorship and product sampling to attract consumers' attention towards the end of the review period.

Supermarkets/hypermarkets continue to gain share

Supermarkets/hypermarkets continued to steadily gain share in value sales of packaged food towards the end of the review period. This was partly due to the continued expansion of supermarkets/hypermarkets across the country, particularly in less-developed provincial areas. In addition, supermarkets/hypermarkets benefited from offering low prices and frequent price promotions, with low prices and convenience attracting increasingly busy and price-sensitive consumers.

Continuing growth as economy improves

Packaged food is expected to see stronger constant value growth during the forecast period in comparison with that seen during the review period. Growth will be encouraged by economic improvement towards the end of the forecast period. Growth will also be supported by the ongoing expansion of supermarkets/hypermarkets across the country and by ongoing urbanisation. With busier lifestyles, meal solutions are expected to prove particularly successful, with canned/preserved food notably achieving strong growth thanks to its combined appeal of convenience and affordable pricing.