The proliferation of business development programmes in meals and soups that prompt partnerships between manufacturers and retailers will continue, as is seen in non-alcoholic beverages. The efforts of major players such as Fly Ace Corp, Manila Bambi Foods Co, and Purefoods-Hormel Co Inc will support acceleration of foodservice sales for shelf stable soup and various other products across the category.
Though leading players will remain focused on convenience and cost-containment measures, meals and soups will see increasing influence from health-conscious consumers who want more cleaner and healthier options. For growth to be sustainable in ready meals and soups, company-driven innovations must augment the nutritional values of products offered.
With the anticipated increase in economic activities in the forecast period, improved mobility and greater disposable income may unlock higher demand for frozen ready meals. Local consumers’ increasingly hectic lifestyles offer opportunities for players to offer frozen ready meals that are easily reheated.
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Understand the latest market trends and future growth opportunities for the Meals and Soups industry in Philippines with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
Data and analysis in this report provides further detailed coverage dedicated to a comprehensive range of core packaged food categories.
If you're in the Meals and Soups industry in Philippines, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Meals and Soups
This is the aggregation of ready meals, pizza, food kits, prepared salads, and soup. Includes: These are products that have had recipe 'skills' added to them by the manufacturer, resulting in a high degree of readiness, completion and convenience. Food kits is an exception where typically the extent of preparation is much shorter than other meal products; includes meal kits where consumers are to put together pre-portioned ingredients and cook with the guidance of recipe cards. Ready meals are generally accepted to be complete meals that require few or no extra ingredients. However, in the case of shelf stable ready meals, the term also encompasses meal 'centres’; for food kits, they do require a degree of cooking and preparation. As such, some meals may require cooking (ready-to-cook); others may simply need reheating, prior to serving (ready-to-eat). Excludes: Any products sold unpackaged and/or by weight, including food sold from a retail deli counter.
See All of Our DefinitionsThis report originates from Passport, our Meals and Soups research and analysis database.
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