Market research on consumer products, commercial industries, demo...
Market research on consumer products, commercial industries, demographics trends and consumer lifestyles in the Philippines. Includes comprehensive data and analysis, tables and charts, with five-year forecasts.
Retail value sales of luxury goods in the Philippines rose by 16% in 2023 in current terms to stand at PHP340.4 billion. The revival of shopping in person and the resurgence of travel and tourism presented favourable opportunities for consumers to…
Retail current value sales of fine wines/champagne and spirits grew by 16% in 2023 to total PHP66.8 billion, as a result of consumers’ desire to make the most of freedoms and open society after the Coronavirus (COVID-19) pandemic. Enjoying a drink…
Despite macroeconomic adversity on a global scale, tourist demand in 2023 was on the rise, with a growing number of visitors taking their holidays in the Philippines. This represents an improvement on 2021 and 2022, when restrictions related to…
Yoghurt and sour milk products continued to record robust growth in retail volume terms in 2023. Sales are almost entirely made up of drinking yoghurt, and Yakult in particular, which benefits from local production. During the pandemic, the brand…
Soy drinks remained the only significant subcategory within plant-based dairy in 2023. Retail volume sales of soy drinks declined sharply during the COVID-19 pandemic in 2020 and 2021, due to decreased incidence of impulse purchases through…
The home cooking trend continued as a key driver for growth for other dairy in 2023, despite an increase in consumer mobility, as many workers returned to their pre-COVID-19 routines. This tendency took off during the pandemic, when facing extended…
Drinking milk products represented the largest category within dairy products and alternatives, having accounted for more than 40% of retail volume sales in 2023. The market is characterised by the strong appeal of shelf stable milk, largely due to…
Retail sales of dairy products and alternatives recorded slightly accelerated growth in volume terms in 2023, when compared to the previous year. This was partly due to easing inflationary pressures, as energy and food prices posted lower increases,…
Despite continued inflationary pressures, cheese continued to exhibit a robust performance in retail volume terms in 2023. As the cost of cheese was prohibitive for some consumers, economy-priced spreadable and processed offerings, such as Cheese…
Butter and spreads saw accelerated growth in retail volume terms in 2023, thanks to the continuation of the home cooking and baking boom, which took off during the pandemic and which showed no signs of abating, despite that fact that consumers spent…