Philippines Baby Food - Market Assessment and Forecasts to 2027

Philippines Baby Food - Market Assessment and Forecasts to 2027

  • April 2022 •
  • 153 pages •
  • Report ID: 6277094 •
  • Format: PDF
Philippines Baby Food - Market Assessment and Forecasts to 2027

Summary
“Philippines Baby Food - Market Assessment and Forecasts to 2027” is an analytical report which provides extensive and highly detailed current and future market trends in the Norwegian market.

The number of live births in the Philippines decreased by 16.2% during 2008-2021, to reach 1.5 million in 2021. This resulted in a baby population of 4.7 million in 2021. However, both the crude birth rate, and total fertility rates, have fallen. The GDP of the Philippines grew by 5.1% in 2021 primarily owing to the successful COVID-19 vaccination campaigns, while consumer price inflation stood at 4.4%. Overall growth in value terms has increased in recent years with the sector registering a CAGR of 2.7% during 2015-2021. However, in volume terms, sales declined in 2021, with the sector contracting marginally at a negative CAGR of 0.6%. Baby milks remained by far the largest category in value terms with nearly 90% of the baby food sector, followed by baby cereals & dry meals. Nestlé and Mead Johnson (Reckitt Benckiser) were the top two companies in 2021. Nestlé retained the top spot in value during 2015-2021 and remained the leader in all the categories except finger foods. Hypermarkets & supermarkets remained the leading distribution channel, accounting for 80.6% of overall value sales in 2021. The analyst estimates that the number of live births will continue to increase over the forecast period in the Philippines. Based on these assumptions, the market for baby food in the country is expected to grow in both value and volume terms, registering a value CAGR of 5.8% and a volume CAGR of 1.9% during 2021-2027.

What else does this report offer?
- Consumption data based upon a unique combination of industry research, fieldwork, market sizing work and our in-house expertise to offer extensive data about the trends and dynamics affecting the industry.
- Detailed profile of the companies operating and new companies considering entry in the industry along with their key focus product sectors.
- Market profile of the various product sectors with the key features & developments, segmentation, per capita trends and the various manufacturers & brands.
- Overview of baby food retailing with a mention of the major retailers in the country along with the distribution channel.
- Future projections considering various trends which are likely to affect the industry.

Scope
- The value of the Philippines’ baby milks category grew from PHP43 billion ($944.5 million) in 2015 to PHP50.8 billion ($1,031.7 million) in 2021, registering a CAGR of 2.7%. In 2021, the baby milks category accounted for the highest value share of the overall baby food sector, at 87.9%.
- In volume terms, the baby cereals & dry meals category declined slightly from 12.46 million kg in 2015 to 11.93 million kg in 2021, contracting at a negative CAGR of 0.7%.
- The baby wet meals category grew from PHP100 million ($2.2 million) in 2015 to PHP141.3 million ($2.9 million) in 2021, recording a CAGR of 5.9%.
- In 2021, per capita expenditure on finger foods in current terms stood at $0.1, down from the $0.09 recorded in 2015.
- In volume terms, the baby drinks category declined from 0.08 million kg in 2015 to 0.06 million kg in 2021, contracting at a negative CAGR of 3.8%.

Reasons to Buy
- Evaluate important changes in consumer behavior and identify profitable markets and areas for product innovation.
- Analyse current and forecast behavior trends in each category to identify the best opportunities to exploit.
- Detailed understanding of consumption by individual product categories in order to align your sales and marketing efforts with the latest trends in the market.
- Investigates which categories are performing the best and how this is changing market dynamics.
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