From coconut water to cloud kitchens, the Philippines' food and beverage sector is a booming feast of innovation and tradition, as evidenced by a market valued at USD 32.4 billion in 2023 and growing nearly 7% annually.
Key Takeaways
- In 2023, the Philippine food and beverage market was valued at USD 32.4 billion, reflecting a 6.8% year-on-year growth driven by rising consumer spending.
- The F&B sector contributed 3.2% to the Philippines' GDP in 2022, with projections to reach 3.5% by 2025.
- Beverage market in the Philippines grew by 7.1% in 2023 to USD 12.1 billion, led by non-alcoholic drinks.
- In 2023, the Philippines produced 20.05 million metric tons of palay, with a 4.6% increase from 2022, making it the 8th largest rice producer globally.
- Coconut production reached 14.7 million metric tons in 2023, accounting for 25% of global supply.
- Banana production totaled 9.3 million metric tons in 2022, with Cavendish variety at 80% share.
- In 2023, per capita food consumption in the Philippines was 142 kg annually, with rice at 118 kg.
- Beverage consumption per capita reached 120 liters in 2023, led by soft drinks at 45 liters.
- 65% of Filipinos consumed instant noodles weekly in 2023 survey.
- Philippines imported USD 8.2 billion in food and beverages in 2023, with wheat at 35% share.
- Food exports totaled USD 4.5 billion in 2023, led by coconut products at USD 1.8 billion.
- Banana exports reached 2.3 million metric tons valued at USD 1.4 billion in 2023.
- In 2023, 45% of F&B companies adopted sustainable packaging.
- Plant-based product launches increased 35% in 2023.
- E-commerce penetration in F&B reached 12% in 2023.
The Philippine food and beverage industry is steadily growing, dynamic, and resilient.
Consumption and Retail
- In 2023, per capita food consumption in the Philippines was 142 kg annually, with rice at 118 kg.
- Beverage consumption per capita reached 120 liters in 2023, led by soft drinks at 45 liters.
- 65% of Filipinos consumed instant noodles weekly in 2023 survey.
- Dairy consumption per capita was 18 liters in 2023.
- Snack food consumption grew 9% to 25 kg per capita in 2023.
- Supermarket sales accounted for 42% of F&B retail in 2023, totaling PHP 750 billion.
- 72% of urban consumers purchased packaged water weekly in 2023.
- Ready-to-eat meals consumption rose 22% in 2023 to 15 kg per capita.
- Coffee consumption per capita hit 2.5 kg in 2023.
- Alcoholic drinks consumption was 4.8 liters pure alcohol per capita in 2023.
- 58% of households bought processed meats monthly in 2023.
- Fruit juice intake averaged 12 liters per capita annually in 2023.
- Bakery products consumption reached 35 kg per capita in 2023.
- 45% market share for carbonated soft drinks in non-alcoholic beverages in 2023.
- Plant-based milk consumption grew 28% in 2023 to 3.2 liters per capita.
- Convenience store F&B sales up 18% to PHP 250 billion in 2023.
- 67% of millennials consumed energy drinks monthly in 2023 survey.
- Frozen food household penetration reached 55% in 2023.
- Confectionery consumption per capita 8 kg in 2023.
- Rice remains 40% of daily caloric intake for Filipinos in 2023.
- 76% of consumers preferred local brands in F&B in 2023 poll.
- E-commerce F&B purchases made by 40% of online shoppers in 2023.
- Functional food consumption up 14% to 5 kg per capita in 2023.
- Beer consumption per capita 25 liters in 2023.
- Organic food sales reached PHP 15 billion in retail in 2023.
- Street food expenditure averaged PHP 500 per month per urban household in 2023.
- RTD tea consumption 15 liters per capita in 2023.
Consumption and Retail Interpretation
The Filipino diet in 2023 was a masterclass in expedient contradictions, fueled by a deep-seated loyalty to rice, a mighty thirst for soda, a weekly ritual with instant noodles, and a growing, yet still cautious, curiosity for healthier and more convenient options.
Exports and Imports
- Philippines imported USD 8.2 billion in food and beverages in 2023, with wheat at 35% share.
- Food exports totaled USD 4.5 billion in 2023, led by coconut products at USD 1.8 billion.
- Banana exports reached 2.3 million metric tons valued at USD 1.4 billion in 2023.
- Processed pineapple exports hit USD 450 million in 2023 to key markets like US and Japan.
- Rice imports were 3.5 million metric tons worth USD 1.6 billion in 2023.
- Pork imports totaled 450,000 metric tons valued at USD 1.2 billion in 2023.
- Dairy imports reached USD 1.1 billion in 2023, mainly milk powder from New Zealand.
- Sugar imports were 850,000 metric tons at USD 450 million in 2023.
- Frozen fish imports USD 800 million in 2023, from China and Norway.
- Vegetable oil imports totaled 2.1 million metric tons valued at USD 2.3 billion in 2023.
- Canned tuna exports achieved USD 650 million in 2023.
- Seaweed exports were 120,000 metric tons worth USD 200 million in 2023.
- Coffee exports reached 35,000 metric tons at USD 120 million in 2023.
- Shrimp exports totaled USD 150 million in 2023 to US and EU.
- Corn imports 5.2 million metric tons USD 1.4 billion in 2023.
- Poultry meat imports 300,000 metric tons USD 650 million in 2023.
- Beef imports 80,000 metric tons valued at USD 350 million in 2023.
- Cocoa products exports USD 50 million in 2023.
- Mango exports hit 45,000 metric tons USD 80 million in 2023.
- Desiccated coconut exports 1.2 million metric tons USD 1.5 billion in 2023.
- Onion imports 250,000 metric tons USD 180 million in 2023.
- Potato imports 120,000 metric tons USD 150 million in 2023.
- Beer exports grew to USD 120 million in 2023, mainly to Middle East.
- Soft drinks exports USD 50 million in 2023 to Pacific islands.
- Processed meat exports USD 200 million in 2023.
- Fruit juice exports reached USD 30 million in 2023.
- Trade balance for F&B was deficit of USD 3.7 billion in 2023.
- Top F&B export destination Japan at 22% share in 2023.
- US imported USD 1.1 billion Philippine F&B in 2023.
- China F&B imports from PH USD 650 million in 2023.
- EU F&B imports USD 450 million from Philippines in 2023.
Exports and Imports Interpretation
While proudly feeding the world with coconuts, bananas, and canned tuna, the Philippines finds itself on a rather expensive international grocery run, importing nearly twice as much food as it exports, especially for staples like wheat and rice, suggesting its agricultural policy might need a serious pantry check.
Market Size and Growth
- In 2023, the Philippine food and beverage market was valued at USD 32.4 billion, reflecting a 6.8% year-on-year growth driven by rising consumer spending.
- The F&B sector contributed 3.2% to the Philippines' GDP in 2022, with projections to reach 3.5% by 2025.
- Beverage market in the Philippines grew by 7.1% in 2023 to USD 12.1 billion, led by non-alcoholic drinks.
- Food processing industry market size hit PHP 2.1 trillion in 2022, up 5.4% from previous year.
- Online F&B sales surged 25% in 2023, accounting for 8% of total market value at USD 2.6 billion.
- The snack food segment of the F&B market reached USD 4.2 billion in 2023, growing at 8.2% CAGR since 2018.
- Dairy products market valued at USD 3.8 billion in 2022, expected to grow to USD 5.1 billion by 2028.
- The overall F&B retail market expanded to PHP 1.8 trillion in 2023, with supermarkets holding 45% share.
- Functional beverages market in Philippines reached USD 1.2 billion in 2023, up 12% YoY.
- Confectionery market size was USD 2.3 billion in 2022, projected CAGR of 6.5% through 2030.
- The Philippine F&B industry saw a 4.7% growth in 2023 despite inflation pressures.
- Bottled water market valued at USD 850 million in 2023, growing 9.3% annually.
- Ready-to-drink tea market hit USD 650 million in 2022, with 10.2% CAGR forecast.
- The F&B e-commerce segment grew 28% to USD 3.1 billion in 2023.
- Overall food market revenue reached USD 28.5 billion in 2024 forecast, category growing 5.9%.
- Alcoholic beverages market size was USD 7.2 billion in 2023, up 4.1%.
- Processed meat market valued at PHP 450 billion in 2022.
- The bakery products sector reached USD 5.6 billion in 2023.
- Soft drinks market grew to USD 4.9 billion in 2023, 7.5% YoY.
- F&B industry employment stood at 4.2 million jobs in 2023, 12% of total workforce.
- Market for plant-based foods reached USD 320 million in 2023, CAGR 15%.
- Instant noodles market size USD 1.1 billion in 2022.
- The F&B wholesale market was PHP 1.2 trillion in 2023.
- Energy drinks segment valued at USD 450 million in 2023.
- Frozen food market hit USD 2.8 billion in 2023, growing 11%.
- Coffee market in Philippines reached USD 1.4 billion in 2023.
- Juice market size USD 980 million in 2022, projected 8% growth.
- The F&B sector attracted USD 1.2 billion FDI in 2023.
- Packaged food market valued at USD 18.7 billion in 2023.
- Beer market alone contributed USD 4.5 billion to F&B in 2023.
Market Size and Growth Interpretation
Despite inflation's unwelcome pinch on the pantry, the Philippine F&B industry is partying like there's no tomorrow, chugging non-alcoholic drinks, clicking 'buy now' online, and snacking its way to a growing slice of the national economy.
Production and Agriculture
- In 2023, the Philippines produced 20.05 million metric tons of palay, with a 4.6% increase from 2022, making it the 8th largest rice producer globally.
- Coconut production reached 14.7 million metric tons in 2023, accounting for 25% of global supply.
- Banana production totaled 9.3 million metric tons in 2022, with Cavendish variety at 80% share.
- Sugarcane harvest yielded 25.1 million metric tons in 2023 cropping year.
- Pineapple production hit 2.75 million metric tons in 2023, led by Mindanao regions.
- Pork production reached 1.62 million metric tons in 2023, recovering 15% post-ASF.
- Chicken production totaled 1.85 million metric tons in 2023.
- Milkfish (bangus) production was 850,000 metric tons from aquaculture in 2023.
- Corn production achieved 7.8 million metric tons in 2023, up 5.2%.
- Coffee bean production reached 60,000 metric tons in 2023, primarily Robusta.
- Cacao production totaled 15,000 metric tons in 2023, with Davao as top region.
- Mango production was 990,000 metric tons in 2023.
- Tilapia aquaculture output hit 220,000 metric tons in 2023.
- Seaweed production reached 1.95 million metric tons fresh weight in 2023.
- Shrimp production totaled 45,000 metric tons in 2023 from aquaculture.
- Vegetable production summed 10.2 million metric tons in 2023, led by cabbage and tomato.
- Egg production reached 18.5 billion pieces in 2023.
- Carabao milk production was 12,000 metric tons in 2023.
- Abaca fiber production hit 85,000 metric tons in 2023.
- Rubber production totaled 320,000 metric tons in 2023.
- Cassava production reached 2.6 million metric tons in 2023.
- Onion production was 310,000 metric tons in 2023.
- Garlic production totaled 8,500 metric tons in 2023.
- Potato production hit 140,000 metric tons in 2023.
- Processed coconut products output was 2.8 million metric tons in 2023.
- Aquaculture contribution to fisheries was 4.9 million metric tons in 2023.
- Commercial fisheries capture 1.2 million metric tons in 2023.
- Municipal fisheries production 1.8 million metric tons in 2023.
- Beef production totaled 65,000 metric tons in 2023.
- Goat production reached 18,000 metric tons in 2023.
Production and Agriculture Interpretation
The Philippines isn't just playing with its food—it's running a full-scale, tropical, agricultural empire where we're the 8th largest rice producer, supply a quarter of the world's coconuts, and are recovering our pork with stubborn determination, all while farming enough seaweed to wrap the planet and producing enough eggs to give every chicken a serious existential crisis.
Trends and Innovations
- In 2023, 45% of F&B companies adopted sustainable packaging.
- Plant-based product launches increased 35% in 2023.
- E-commerce penetration in F&B reached 12% in 2023.
- Health-conscious snacks grew 18% market share in 2023.
- Food delivery apps handled 30% of meals out in urban areas 2023.
- Low/no alcohol beverages sales up 25% in 2023.
- AI in supply chain used by 28% of large F&B firms in 2023.
- Organic F&B sales grew 22% to PHP 20 billion in 2023.
- Ready-to-cook meals surged 40% post-pandemic in 2023.
- Zero-sugar beverages captured 15% soft drink market in 2023.
- Blockchain traceability adopted in 20% coconut exports 2023.
- Female-led F&B startups rose 30% in 2023 funding.
- Ghost kitchens numbered 5,000 in major cities by 2023.
- Premiumization trend boosted confectionery 12% growth 2023.
- Halal-certified F&B products increased 18% in 2023.
- Vertical farming output up 50% in urban areas 2023.
- Personalized nutrition apps used by 10% consumers 2023.
- Biodegradable packaging in 35% beverage bottles 2023.
- Craft beer microbreweries grew to 150 outlets in 2023.
- Food waste reduction initiatives saved 200,000 tons in 2023.
- Vegan product lines launched by 40% major brands 2023.
- QR code nutrition info on 60% packaged foods 2023.
- Subscription meal kits reached 500,000 users 2023.
- Insect protein pilots in snacks by 5 companies 2023.
- Cloud kitchens revenue PHP 50 billion in 2023.
- Fermented foods market grew 16% driven by gut health 2023.
- Digital payments 85% of F&B retail transactions 2023.
- Upcycled food ingredients used in 10% new products 2023.
- Metaverse F&B marketing by 15 brands in 2023.
- Collagen-infused drinks sales up 30% in 2023.
Trends and Innovations Interpretation
It seems the Filipino palate is evolving into a fascinating contradiction: we're meticulously counting calories and scanning QR codes for nutrition while simultaneously letting algorithms plan our meals and ghost kitchens cook them, all washed down with a craft beer that probably came from a blockchain-tracked coconut.
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