Philippines Retail Foods 2020

Country:
Philippines

Report Highlights:
The Philippine food retail sector has grown 25 percent over the past five years, reaching approximately $50 billion in 2019. Since the start of the COVID-19 outbreak, consumers have been increasingly cooking food at home, driving a surge in purchases of local and imported food and beverage products from supermarkets and online portals. This unprecedented shift from food service to food retail has created opportunities for more U.S. food and beverage grocery products to enter the market. FAS Manila forecasts food retail sales in 2020 will reach $60 billion, up 20 percent from the previous year.

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