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Market Focus: Trends and Developments in the Savory Snacks Sector in the Philippines

  • May 2014
  • -
  • GlobalData
  • -
  • 45 pages

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Summary
This report brings together consumer insight and market data to provide a comprehensive brief of the Philippines' Savory Snacks sector. This allows for the rapid identification of key growth opportunities across major Savory Snacks categories and their packaging.

Key Findings
- The Savory Snacks market in the Philippines is forecast to register moderate growth during 2013-2018, providing opportunities for manufacturers to innovate and introduce new products in the market.
- Meat Snacks is the fastest-growing category although the overall market is driven by the Processed Snacks and Nuts and Seeds categories.
- Increasing income levels, urbanization, and busy lives of Filipino consumers have led to the growth of Savory Snacks.
- Hypermarkets and Supermarkets continue to be the preferred distribution channel for Savory products, followed by Convenience Stores.
- Traditional Snacks and Snacks with innovative ingredients and flavors will drive the demand for Savory Snacks in the Philippines.

Synopsis
The growing economy and a large young population in the Philippines provide significant growth opportunities to manufacturers of Savory Snacks. While increasing urbanization and the rising disposable income of the middle class is driving growth of the Savory Snacks sector in the urban centres in the country, low penetration in the rural areas is holding down the overall growth rate. Processed Snacks is the leading category by value, followed by Nuts and Seeds. In the consumer demand side, Quality and Fun and Enjoyment are the leading motivational factors influencing Savory Snacks consumption.

Reasons To Buy
This overview of the consumer and market dynamics of the Filipino Savory Snacks sector allows new entrants and established companies to gain rapid and comprehensive insight into the current state of the market and identify the key trends that will drive growth in the coming years.

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