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Market Focus: Trends and Developments in the Bakery and Cereals sector in the Philippines

  • August 2014
  • -
  • GlobalData
  • -
  • 50 pages

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

Key Findings
- The Bakery and Cereals 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.

- Cookies (Sweet Biscuits) is the fastest-growing category and the overall market is driven by the Cookies (Sweet Biscuits), Cakes, Pastries and Sweet Pies, and Bread and Rolls categories.

- Increasing income levels, urbanization, and the busy lives of Filipino consumers have led to the growth of Bakery and Cereal products.

- Hypermarkets and Supermarkets continue to be the preferred distribution channel for Bakery and Cereal products, followed by Food and drinks specialists.

- Healthy products, convenient pack sizes, and artisanal products will drive the demand for Bakery and Cereals in the Philippines.

Synopsis
The growing economy and a large young population in the Philippines provide significant growth opportunities to manufacturers in the Bakery and Cereals market. Increasing urbanization, greater participation of women in the workforce and the growing busy lives of the middle class is driving growth of the Bakery and Cereals sector in the country. Cookies (Sweet Biscuits) are the leading category by value, followed by Cakes, Pastries and Sweet Pies. On the consumer demand side, health and convenience are the leading motivational factors influencing Bakery and Cereals consumption.

Reasons To Buy
This overview of the consumer and market dynamics of the Filipino Bakery and Cereals 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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