Philippines Bakery Market

Philippines Bakery Market Overview:

The Philippines bakery market is projected to exhibit a growth rate (CAGR) of 4.60% during 2024-2032. Rapid urbanization, inflating disposable incomes, changing consumer preferences towards convenience foods, the expanding retail networks, and the growing popularity of Western-style baked goods and healthier, artisanal bakery products are some of the key factors bolstering the market growth.

Philippines Bakery Market Trends:

Increasing demand for convenience foods

As urbanization gains momentum and lifestyles become busier, consumers are seeking quick and easy meal solutions. Baked goods such as bread, pastries, and cakes fit this need perfectly, offering a range of options for breakfast, snacks, and even main meals. The convenience of baked products, combined with their long shelf life and portability, makes them a staple in many households. Reflecting this trend, the Philippine baking industry’s retail sales are expected to grow 5% annually, reaching $2.5 billion by 2027, according to the US Department of Agriculture (USDA). The rise of modern retail formats, including supermarkets and convenience stores, further supports this market growth by providing easy access to a variety of bakery products.

The growing popularity of Western-style baked goods

The market is further influenced by global culinary trends and increasing exposure to international cuisines, as consumers are developing a taste for Western bakery items such as croissants, bagels, donuts, and artisanal breads. This change in consumer preferences is pushing international chains and local bakeries to expand their product offerings by including more options in the Western style. The appeal of these items is not only in their taste but also in their perceived premium quality and novelty. In confluence with this, bakeries are innovating and introducing new products that cater to the evolving tastes of consumers, which is further contributing to the market expansion.

Increasing focus on health and wellness

As consumers become more health-conscious, there is a growing demand for healthier bakery options. This includes products made with whole grains, organic ingredients, and natural sweeteners, as well as those that are low in sugar, fat, and calories. Additionally, there is an increasing interest in gluten-free, vegan, and allergen-free baked goods, catering to specific dietary needs and preferences. Bakeries are responding to this trend by reformulating traditional recipes to make them healthier and by introducing entirely new product lines that meet these health-focused criteria. This trend is also reflected in the rise of artisanal and craft bakeries that emphasize the use of high-quality, natural ingredients and traditional baking methods, which appeal to health-conscious consumers, thus strengthening the market demand.

Philippines Bakery Market News:

• In April 2024, SPC Group announced the launch of its first Paris Baguette store in the Philippines. Located on the first floor of Manila's SM Mall of Asia, the largest shopping center in the country, the new branch features wooden interiors to create a premium European bakery ambiance and offers 90 seats for customers.
• In August 2023, Berjaya Food (International) Sdn Bhd, a subsidiary of Berjaya Food Bhd (BFood), partnered with Middle Trade Inc and Paris Baguette Singapore to bring Paris Baguette to the Philippines.
   

Philippines Bakery Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for 2024-2032. Our report has categorized the market based on product type and distribution channel.

Product Type Insights:

• Biscuits
  • Cookies
  • Cream Biscuits
  • Glucose Biscuits
  • Marie Biscuits
  • Non-Salt Cracker Biscuits
  • Salt Cracker Biscuits
  • Milk Biscuits
  • Others
• Bread and Rolls
  • Sandwich Breads
  • Hamburgers
  • Croissants
  • Others
• Cakes and Pastries
  • Packed Cupcakes
  • Pastries
  • Muffins
  • Layer Cakes
  • Donuts
  • Swiss Roll
  • Others
• Rusks
   

The report has provided a detailed breakup and analysis of the market based on the product type. This includes biscuits (cookies, cream biscuits, glucose biscuits, marie biscuits, non-salt cracker biscuits, salt cracker biscuits, milk biscuits, and others), bread and rolls (sandwich breads, hamburgers, croissants, and others), cakes and pastries (packed cupcakes, pastries, muffins, layer cakes, donuts, swiss roll, and others), and rusks.

Distribution Channel Insights:

• Convenience Stores
• Supermarkets and Hypermarkets
• Independent Retailers
• Artisanal Bakeries
• Online Stores
• Others
   

A detailed breakup and analysis of the market based on the distribution channel have also been provided in the report. This includes convenience stores, supermarkets and hypermarkets, independent retailers, artisanal bakeries, online stores, and others.

Regional Insights:

• Luzon
• Visayas
• Mindanao
   

The report has also provided a comprehensive analysis of all the major regional markets, which include Luzon, Visayas, and Mindanao.  

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

Philippines Bakery Market Report Coverage:

Key Questions Answered in This Report:

• How has the Philippines bakery market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the Philippines bakery market?
• What is the breakup of the Philippines bakery market on the basis of product type?
• What is the breakup of the Philippines bakery market on the basis of distribution channel?
• What are the various stages in the value chain of the Philippines bakery market? 
• What are the key driving factors and challenges in the Philippines bakery?
• What is the structure of the Philippines bakery market and who are the key players?
• What is the degree of competition in the Philippines bakery market? 

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the Philippines bakery market from 2018-2032.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the Philippines bakery market.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the Philippines bakery industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.