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Market Focus: Trends and Developments in the Confectionery Sector in the Philippines

  • September 2014
  • 37 pages
  • GlobalData
Report ID: 2432300

Summary

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Summary

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

Key Findings

The Confectionery market in the Philippines is forecast to register moderate growth during 2013-2018 providing limited opportunities for manufacturers to innovate and introduce new products in the market.
Gum is the fastest growing category and the overall market is driven by Sugar Confectionery and Chocolate categories.
Increasing income levels and the busy lives of Filipino consumers have led to the growth of Confectionery products. Health and Fun & Enjoyment are the other key trends fuelling demand for Confectionery in the country.
Hypermarkets & Supermarkets continue to be the preferred distribution channel for Confectionery products, followed by Food & Drinks Specialists.
Product innovation, imported brands, and gifting occasions will drive the demand for Confectionery in the Philippines.

Synopsis

The Filipino Confectionery market is mature. However, factors such as a large young population and impulse purchases after a hectic day have kept the demand for Confectionery products growing, albeit at a moderate pace. With a rise in awareness, Health has emerged as a major trend in the country and Confectionery manufacturers have responded by introducing healthy and functional varieties. New product innovations and a growing trend of gifting on important social and religious occasions are expected to shape future demand.

Reasons To Buy

This overview of the consumer and market dynamics of the Filipino Confectionery 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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ref:plp2014

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