Philippines Cooking Oil Market by regions (Luzon, Visayas and
Mindanao), by Distribution Channels (Traditional Markets, Direct Sales,
Supermarkets and Hypermarkets and Online), by End User (Food Products
Manufactures, Hotels and Restaurants,
Street Food and Hawkers and Residential), by Type of Cooking Oil (Palm
Oil, Coconut Oil, Soybean Oil, Canola Oil, Corn Oil and Others), Company
Profile of Major Players including Malabon Soap And Oil Industrial, San Pablo
MGF Corp, Marca Leon, Magic Fry, International Oil Factory, UFC Philippines, AD
Gothong Manufacturing Corporation, Fly Ace Corporation)
The Philippines Cooking Oil market has seen number of
international brands entering the market. However, the local brands still
dominate the industry
Philippines Cooking Oil market has shown an impressive growth
rate over the past five years owing to growth in number of households,
enhancing food processing sector, rapid rise in tourism and hospitality sector.
Coconut oil is being replaced by palm oil in terms of
domestic consumption. Canola oil and soybean oil are the upcoming cooking oils
in Philippines
The future for Philippines Cooking Oil industry is compelling
with anticipated future CAGR of 9.7% from 2016-2021. The Philippines Cooking
Oil market will be driven by rising population, changing lifestyles, expanding
tourism and anticipated hospitality boom. The market is expected to witness
growing preference for healthier oils such as Canola oil as the health
conscious people in the country incline in future.
There is a positive outlook in the retail category where
supermarkets are gradually eating up the market share of traditional markets.
The increase in the total import of cooking oil will also fuel the cooking oil
market in Philippines. The increasing tourism in Luzon, Western Visayas and
Mindanao will further uplift the number of hotel chains and restaurants sector
in the country. The rising hotel chains & restaurants will boost the demand
for cooking oil in the country.
The Cargill Oil Mills plans to develop coconut farming
industry in the Rural Philippines which will improve the cooking oil market in
the period 2017-2019 as the ageing coconut trees in the country will be
replaced leading to better productivity. The major growth in the Philippines
food manufacturing industry in the period 2019-2021 will aid Philippines
cooking oil market. Moreover, Philippines cooking oil consumption patterns are
expected to further shift from using coconut oil to palm oil on account of the
anticipated future price fluctuation in the coconut oil prices. Furthermore, it
is also anticipated that Philippines will become the 5th largest supermarket
industry in the world. The growth of supermarket industry will further reduce
the share of traditional markets in selling cooking oils by the year 2021.
Olive oil blended with sunflower oil has been expected to generate significant
demand over the coming years as number of health conscious people rise.
Ken Research in its latest study, Philippines Cooking Oil Market by Type (Palm, Coconut, Soyabean, Canola,
Corn and Others), by Region (Luzon, Visayas and Mindanao) - Outlook to 2021 suggests that Minola,
Baguio, Spring Cooking Oil, Golden Fiesta and Marca Leon will remain the major
players in this space. However, these major players will witness rising
competition from other smaller brands.
Rising tourism, growing hospitality industry, changing
consumer preferences and increase in number of households is expected to drive
the Philippines Cooking Oil Market in the future. The report provides
information on market size of the Philippines Cooking Oil Market, market
segmentation on the basis of major regions, distribution channels, end users
and type of cooking oil.
Key Topics Covered in
the Report:
Soybean Oil Exports Philippines
Cooking Oil Market in Philippines
Palm Oil Consumption Philippines
Baguio Oil Coconut Oil Philippines
Philippines Palm Oil Future
Edible Oil Market Philippines
Export Coconut Oil Philippines
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
