NEW YORK, The “Retail Market In The Philippines by Product (Food and beverages, Personal and household care, Apparel and footwear, Electrical and electronics, and Others) and Distribution Channel (Offline and Online) – Forecast and Analysis 2022-2026” report has been added to Technavio’s offerings.
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The potential growth difference for the retail market in the Philippines between 2021 and 2026 is USD 70.67 bn. To get the exact yearly growth variance and the Y-O-Y growth rate, Talk to our analyst.
Key Market Dynamics:
Market Driver Market Challenges
The growing demand for convenience food products is one of the key market drivers. The hectic lifestyles and a rise in the number of working women have propelled the growth of the market. The preference for convenience food products, including processed meat and poultry products, is increasing. Other factors such as the rise in disposable income of the middle-class population will further fuel the growth of the market in focus during the forecast period.
However, factors such as the threat from counterfeit products will challenge market growth. The easy availability and increasing sales of numerous counterfeit products will make the optimum market penetration challenging for key players. This is driving the influx of fake products, especially through online/e-commerce platforms. These factors are adversely impacting the sales of major vendors and hampering the goodwill and image of genuine manufacturers. Counterfeit products cost less and are made up of low-quality raw materials that can be harmful to the health of consumers. Such factors are expected to negatively impact the growth of the market in focus during the forecast period.
Market Segmentation
Based on product, the retail market in the Philippines is segmented into food and beverages, personal and household care, apparel and footwear, electrical and electronics, and others. The food and beverages segment will have significant market share growth during the forecast period. The growth will be fueled by the rise in prices of commodities and an increase in the purchasing power of people in regions such as Manila and Calabarzon. The Philippines is experiencing a rise in interest of consumers in imported goods, especially processed foods. This is expected to witness the highest growth rate during the forecast period
Based on distribution channel, the retail market in the Philippines is segmented into offline and online. The offline segment will have significant market share growth during the forecast period. The offline distribution segment is considered the most effective mode of distribution as it offers the touch-and-feel experience to consumers, considered the most influential means of marketing.
Some Companies Mentioned
Amazon.com Inc. Cosco Capital Inc. Fast Retailing Co. Ltd. Mercury Drug Corp. Metro Retail Stores Group Inc. New City Commercial Corp Robinsons Retail Holding Inc. Seven and i Holdings Co. Ltd. SM Investments Corp SSI Group Inc.To gain access to more vendor profiles with their key offerings available with Technavio, Click Here
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Retail Market In The Philippines Scope
Report Coverage
Details
Page number
120
Base year
2021
Forecast period
2022-2026
Growth momentum & CAGR
Accelerate at a CAGR of 11.68%
Market growth 2022-2026
USD 70.67 billion
Market structure
Fragmented
YoY growth (%)
10.42
Regional analysis
The Philippines
Performing market contribution
The Philippines at 100%
Key consumer countries
The Philippines
Competitive landscape
Leading companies, competitive strategies, consumer engagement scope
Companies profiled
Amazon.com Inc., Cosco Capital Inc., Fast Retailing Co. Ltd., Mercury Drug Corp., Metro Retail Stores Group Inc., New City Commercial Corp, Robinsons Retail Holding Inc., Seven and i Holdings Co. Ltd., SM Investments Corp, and SSI Group Inc.
Market Dynamics
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for forecast period.
Customization purview
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
Key Topics Covered:
Executive Summary Market Landscape Market Sizing Five Forces Analysis Market Segmentation Customer landscape Vendor Landscape Vendor Analysis Appendix
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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