Demand for organic food ingredients in the Philippines is likely to grow owing to rising consumer interest towards healthy and nutritious food items which is evident from their willingness to pay more for organic, sustainably sourced and natural products.
The report titled “Philippines Food Ingredients Market By Type of Food Ingredients (Flavors, Sweeteners, Colors, Preservatives, Fragrance, Acidulants, Cultures, Proteins, Emulsifiers and Co-Emulsifiers, Minerals, Carotenoids and Others) – Outlook to 2021” by Ken Research suggested an expected CAGR of 10.1% in revenue and 3.5% in sales volume of food ingredients in the Philippines for the projected period 2017-2021.
Increasing health awareness in the Philippines has led to a shift of consumers from using artificial and unhealthy food ingredients to natural and organic food ingredients. Rising disposable income in the Philippines has further resulted in the development of health and wellness packaged foods and beverages in the country. Due to increase in GDP and purchasing power, the market of food ingredients is getting popular in the Philippines as the consumers are willing to adopt a lifestyle change, thus buying premium products as well as making health a top priority. Features like sustainable and local sourcing, organic and GMO-Free food ingredients have gained consumer attention, especially millennials. Their willingness to pay more for organic, sustainably sourced and natural products indicates that there is more efforts required towards natural ingredients. Furthermore, attention is given to e-commerce industry by retailers as well as manufacturers. Social networking websites and advertisements were proved as the most effective platform to communicate the consumers in Philippines which has made the consumers adapt to natural / organic products for their betterment. Additionally, people are becoming conscious about their health owing to increasing obesity and cardiovascular diseases in the country. Food ingredient manufacturers in the Philippines are focusing on launching new products with more proportion of natural ingredients as well as importing good quality food ingredients from major countries such as US, UK, Netherlands and others.
Key Topics Covered in the Report
Food Colorants Industry Philippines
Philippines Sweeteners Market
Amino Acids Market in Philippines
Food Anti-Oxidants Market Philippines
Other Food Ingredients in the Philippines
Food ingredients manufacturing Philippines
Philippines Food Color Sales
Philippines Fragrance Market Revenue
Barentz Food ingredients Philippines Market Share
Food Ingredients DuPont Sales
For more information on the research report, refer to below link:
Related Reports by Ken Research
Contact:
Ken Research
Ankur Gupta, Head Marketing & Communications
+91-124-4230204
No comments:
Post a Comment