The report titled “Philippines Cooking Oil Market by Type (Palm, Coconut, Soyabean, Canola, Corn and Others), by Region (Luzon, Visayas and Mindanao) - Outlook to 2021” provides a comprehensive analysis of the cooking oil market in Philippines. The report covers aspects such as the market size of the Philippines Cooking oil market, market segmentation on the basis of major regions, distribution channels and by end users. The report also covers the competitive landscape, government regulations, customer preferences, and value chain analysis of the cooking oil market in Philippines. In addition to this, the report also covers company profiles and product portfolio of major players. This report will help industry consultants, cooking oil manufacturers and traders, distributors, potential entrants and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
Philippines Cooking Oil Market Introduction
As of 2016, Philippines are one of the largest exporters of coconuts and coconut oil in the world. However, coconut oil has now become a more export oriented commodity and is used less for domestic consumption purposes. It is gradually being replaced by palm oil in the recent years. The cooking oil market in Philippines has increased from ~ Thousand Tons in 2011 to ~ Thousand Tons in 2016 on account of increase in food demand by growing number of households and expanding health conscious middle class in the country.
Philippines Cooking Oil Market Segmentation
By Regions: The Luzon region in Philippines has gathered the largest share of ~% in terms of total consumption volume of cooking oil. The major reason behind this has been that this region comprises of highest number of hotels, guest houses and households in Philippines. As of 4th December 2017, there are ~hotels, ~ guest houses, ~ specialty lodging and ~ holiday rental units. Visayas and Mindanao on the other hand have gathered a consumption share of ~% and ~% in 2016 respectively.
By Type of Cooking Oil: The different type of cooking oil in the Philippines cooking oil market include palm oil, coconut oil, soybean oil, canola oil, corn oil and others. The palm oil has gathered the largest share of ~% in the Philippines Cooking oil Market with a consumption of ~ Thousand Metric Tons in 2016. It has largest share as it is readily available and is reasonably priced (average retail price prevailing in Philippines PHP ~ per liter in 2016). Philippines have been one of the largest producers of coconut oil globally but its share in the domestic consumption remains lower to around ~% during 2016. In the past 5 years the average imports of soybean oil has been over ~ tons each year. Soybean oil has accounted for a consumption volume share of ~% in 2016. Canola oil is only preferred by high income customers which are extremely health conscious as it is expensive than other oils. Canola oil and corn oil have captured a consumption volume share of ~% and ~% respectively during 2016.
By End Users: The end-users in the Philippines cooking oil market include the commercial and the residential sector. The cooking oil consumption from commercial sector includes the Manufacturers of packaged foods, Hotel Chains and Hawkers. The Commercial Sector has accounted for the lion’s share of in the total consumption volume of cooking oil in Philippines. This has been on account of the bulk purchases made by these entities. The cooking oil consumption from residential sector includes the consumption of the households. The Residential Sector has comprised of a minor share of only ~% in the total consumption volume of cooking oil in Philippines.
By Distribution Channel: The different distribution channels include Traditional markets, Direct Sale by Manufactures/traders & distributors, Supermarkets/hypermarkets and through online websites. The traditional markets in Philippines include the wet markets, sari-sari stores/mom & pop stores. These traditional markets have accounted for the share of ~% in the consumption volume during 2016 as they provide products at lower prices than those in supermarkets. The direct sale by manufacturers/traders and distributors has accounted for the second largest share of ~% in the total volume sales of cooking oil in Philippines. On the other hand, Supermarkets and hypermarkets have gathered a volume share of ~%, they are mostly located inside shopping malls, department stores or within a commercial complex. Online channels have accounted for the lowest share of ~% in the total volume sales in Philippines during 2016. The major online sites through which oil is sold include Lazada, Zalora and others.
Competition Scenario in Philippines Cooking Oil Market
The Philippines Cooking Oil Market is traditionally dominated by the unorganized sector on account of providing the cooking oil at a lower cost than the organized players in the Industry. The major organized players include Minola, Golden Fiesta, Baguio, Marca Leon and others. The organized players face tough competition from the unorganized market entities. These organized players compete majorly on the basis of price, packaging and types of products offered.
Future Outlook and Projections for Philippines Cooking Oil Market
It has been anticipated that the consumption of cooking oil will rise from ~ thousand tons in the year 2017 to ~ Thousand Tons in the year 2019. The expected increase in the demand for cooking oil will be on account of the amplifying number of households in the country. The total number of households are expected to increase from ~ Million 2017 to ~ Million in 2019. In the long term the market for cooking oil in Philippines is anticipated to increase from ~ thousand tons in the year 2019 to ~ thousand tons in the year 2021. The major growth in the Philippines food manufacturing industry in the period 2019-2021 will increase Philippines cooking oil market. The food manufacturing industry is estimated to grow from USD ~ Million in 2019 to USD ~ Million in 2021. Canola oil and blended oils will be the upcoming oils in the country.
Key Topics Covered in the Report:
Philippines Cooking Oil Market Overview
Value Chain in Cooking Oil Market
Philippines Cooking Oil Market Size by Value and Volume, 2011-2016
Philippines Cooking Oil Market Segmentation on the basis of major regions, distribution channel, end users and by type of cooking oil.
Investment Model to set up a Coconut Oil Refinery in Philippines
Company Profile of Major Players in Philippines Cooking Oil Market
Trends, Developments, Growth Drivers, Restraints and Government Regulation in Philippines Cooking Oil Market
Philippines Cooking Oil Market Future outlook and Projections
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
