Philippines Confectionery Market

Philippines Confectionery Market Overview:

The Philippines confectionery market size reached USD 862.14 Million in 2024. Looking forward, IMARC Group expects the market to reach USD 1,105.39 Million by 2033, exhibiting a growth rate (CAGR) of 2.80% during 2025-2033. The Philippines confectionery market share is expanding, driven by the rising popularity of foreign brands, which is encouraging local manufacturers to develop and introduce innovative and flavorful products, along with the expansion of retail channels and online marketplaces that assist in making confectionery items more accessible and improving their sales in the country.

Philippines Confectionery Market Trends:

Growing foreign brand influence

The rising foreign brand influence is offering a favorable Philippines confectionery market outlook. Imported sweets, especially chocolates and candies from big brands are hugely popular and often seen as a premium choice. Filipinos are drawn to these international brands because of their reputation for quality and unique flavors. Many people associate these foreign brands with a special treat or gift, which drives the demand for confectionery items during holidays or special occasions. As international brands expand into the Philippines, they bring new trends and products that entice Filipinos, ranging from novelty snacks to limited-edition flavors. In November 2024, Venchi, the Italian chocolatier and gelato producer, launched its initial store in Bonifacio Global City (BGC), Philippines, as it sought to meet the rising user demand. Venchi's stores in the Philippines intended to offer its chocolate bars along with more than 12 varieties of its gelato. Apart from this, social media platforms also help develop the preference for these products, with influencers and online ads introducing the latest imported treats. Moreover, the popularity of these foreign brands encourages local confectionery companies to innovate and create new and competitive items.

Expansion of retail and e-commerce stores

The expansion of retail and e-commerce stores is impelling the Philippines confectionery market growth. In September 2024, Roberto Claudio, the President of the Philippine Retailers Association (PRA), informed reporters during the National Retail Conference and Export 2024 event, which ended on August 30, that the retail sector's contribution to the nation’s GDP could rise to 20% in 2024 or by early 2025, above from 18.6% in 2022. With more convenience stores, supermarkets, and specialty shops opening up, people can easily buy chocolates, candies, and other sweet treats anytime they want. These stores play an important role in keeping confectionery products within reach for daily snacking. At the same time, online shopping platforms make it easier to purchase sweets without leaving home. Many brands offer exclusive online deals, discounts, and bundle promos, encouraging more people to shop digitally. The rise of cashless payments and fast delivery services also make online purchases more convenient. Social media ads and influencer promotions further increase sales by creating trends around new and imported confectionery items. Moreover, small and local confectionery businesses benefit since they can sell their products nationwide without needing a physical store. As both physical and online retail spaces continue to broaden, the variety of available confectionery items grows, giving individuals more choices and making sweets a bigger part of everyday life in the Philippines.

Philippines Confectionery Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the regional level for 2025-2033. Our report has categorized the market based on product type, age group, price point, and distribution channel.

Product Type Insights:

• Hard-boiled Sweets
• Mints
• Gums and Jellies
• Chocolate
• Caramels and Toffees
• Medicated Confectionery
• Fine Bakery Wares
• Others

The report has provided a detailed breakup and analysis of the market based on the product types. This includes hard-boiled sweets, mints, gums and jellies, chocolate, caramels and toffees, medicated confectionery, fine bakery wares, and others.

Age group Insights:

• Children
• Adult
• Geriatric

A detailed breakup and analysis of the market based on the age groups have also been provided in the report. This includes children, adult, and geriatric.

Price Point Insights:

• Economy
• Mid-range
• Luxury

The report has provided a detailed breakup and analysis of the market based on the price points. This includes economy, mid-range, and luxury.

Distribution Channel Insights:

• Supermarkets and Hypermarkets
• Convenience Stores
• Pharmaceutical and Drug Stores
• Online Stores
• Others

A detailed breakup and analysis of the market based on the distribution channels have also been provided in the report. This includes supermarkets and hypermarkets, convenience stores, pharmaceutical and drug stores, 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 Confectionery Market News:

• In July 2024, the Hershey Company launched Hershey's Choco Balls in the Philippines. These creamy chocolates filled with crunchy cookie pieces were crafted to attract snack enthusiasts nationwide. They come in two varieties, ‘Cookies N Crème (white)’ and ‘Cookies N Chocolate (milk) with enhanced flavors.
• In June 2024, GLOBAL BRAND Glico, based in Osaka, aimed to expand sales of its confectionery and health food products beyond its home country, Japan. In the Philippines, where Glico operates an office, the company planned to introduce a broader selection of items under the Almond Koka brand in June.

Philippines Confectionery Market Report Coverage:

Key Questions Answered in This Report:

• How has the Philippines confectionery market performed so far and how will it perform in the coming years?
• What is the breakup of the Philippines confectionery market on the basis of product type?
• What is the breakup of the Philippines confectionery market on the basis of age group?
• What is the breakup of the Philippines confectionery market on the basis of price point?
• What is the breakup of the Philippines confectionery market on the basis of distribution channel?
• What are the various stages in the value chain of the Philippines confectionery market? 
• What are the key driving factors and challenges in the Philippines confectionery market?
• What is the structure of the Philippines confectionery market and who are the key players?
• What is the degree of competition in the Philippines confectionery 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 confectionery market from 2019-2033.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the Philippines confectionery 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 confectionery 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.