The household consumption of food and non-alcoholic beverages in the Philippines stood at 5.4 trillion Philippine Pesos in 2023. Forecast data indicates a consistent year-on-year increase from 2024 to 2028. The values are predicted to rise from 5.4154 trillion PHP in 2024 to 5.9693 trillion PHP by 2028, showing a steady growth trajectory. The average compounded annual growth rate (CAGR) over this five-year period remains positive, suggesting a robust increase in spending on these core household categories.
Future trends to watch for include the impact of inflation on household budgets, changes in consumer behavior influenced by economic conditions, and potential shifts towards healthier and more sustainable food consumption driven by global wellness trends.
