Soft drinks in the Philippines have continuously been recording healthy performance over the past few years, enjoying high per capita consumption among Asian countries. Soft drink sales are expected to reach 6 Billion Liters in 2008, 23% up over 2005. The consumption of carbonated soft drinks is high, and is fast reaching saturation. So future growth in the Philippine soft drinks market is expected to come from non-carbonated soft drinks, says “Philippines Food and Drinks Market: Emerging Opportunities”, our latest research on the Philippine food and drinks market.
This report says that segments like bottled water and fruit juice will be the most lucrative in the non-carbonated soft drinks market. “Growing health awareness and health safety concerns among Filipinos will be the key deciding factors of this growth”, says an analyst at RNCOS. Other factors, including growing young population, rising income and shifting consumer preference are also likely to add to the growth of health drink market in the country.
It has been seen that many existing players are extending their product portfolio to include health drinks, and the industry is seeing entry of new players. In line with this, San Miguel Corp, a dominant player in Philippine’s food and drinks industry, entered into the non-carbonated health drinks market in 2007 to benefit from the rapidly growing market.
Sales of soft drinks are forecasted to grow at a CAGR of nearly 7% during 2009-2013. And given the strong impact that low prices has on sales of soft drinks in the Philippines, manufacturers will increasingly look to offer consumers more affordable options, states the report.
This report also provides comprehensive study on various food and drinks segments, consumption pattern, past, current and future market trends, challenges, drivers and opportunities critical for the growth of the Philippines food and drinks market.
For more information visit: http://www.foodsectornews.com/Report/IM171.htm |
