Key Takeaways
- In 2023, the total revenue of the Philippines restaurant industry reached PHP 850 billion, marking a 12% year-on-year growth driven by post-pandemic recovery.
- The foodservice market in the Philippines is projected to grow at a CAGR of 8.5% from 2024 to 2028, reaching USD 15.2 billion by 2028.
- Full-service restaurants accounted for 35% of the total Philippines restaurant revenue in 2022, generating PHP 250 billion.
- In 2023, 62% of Filipinos aged 18-35 dined out at least twice weekly, preferring QSR chains like Jollibee.
- 78% of urban Filipinos used food delivery apps for restaurant orders in 2023.
- Average annual spend per capita on restaurants in Philippines was PHP 8,500 in 2023.
- The Philippines restaurant industry employed 1.2 million workers directly in 2023.
- Average monthly wage for restaurant servers in Philippines was PHP 15,200 in 2023.
- 45% of restaurant workforce were aged 18-24 in 2022 census.
- Average profit margin for Philippines restaurants was 8.2% in 2023.
- Food cost percentage averaged 35% of revenues in QSRs 2023.
- Average rent as % of sales was 12% for Metro Manila outlets in 2023.
- Metro Manila had 25,000 restaurant outlets, 40% of national total in 2023.
- Cebu province QSR chains numbered 1,200 with 15% growth in 2023.
- Davao region's fine dining establishments reached 450 in 2023.
Philippines' restaurant industry grew robustly post-pandemic, driven by increasing consumer demand.
Consumer Behavior and Trends
Consumer Behavior and Trends Interpretation
Employment and Workforce
Employment and Workforce Interpretation
Market Size and Growth
Market Size and Growth Interpretation
Operational and Financial Metrics
Operational and Financial Metrics Interpretation
Regional and Segment Analysis
Regional and Segment Analysis Interpretation
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