Philippines Cooking Oil Consumption is Expected to Reach over 2,700 Thousand Tons by 2021: Ken Research

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Philippines Cooking Oil Consumption is Expected
to Reach over 2,700 Thousand Tons by 2021 Ken
Research
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Philippines Cooking Oil Market by regions (Luzon,
Visayas and Mindanao), by Distribution Channels
(Traditional Markets, Direct Sales, Supermarkets
and Hypermarkets and Online), by End User (Food
Products Manufactures, Hotels and Restaurants,
Street Food and Hawkers and Residential), by Type
of Cooking Oil (Palm Oil, Coconut Oil, Soybean
Oil, Canola Oil, Corn Oil and Others), Company
Profile of Major Players including Malabon Soap
And Oil Industrial, San Pablo MGF Corp, Marca
Leon, Magic Fry, International Oil Factory, UFC
Philippines, AD Gothong Manufacturing
Corporation, Fly Ace Corporation) The
Philippines Cooking Oil market has seen number of
international brands entering the market.
However, the local brands still dominate the
industry Philippines Cooking Oil market has
shown an impressive growth rate over the past
five years owing to growth in number of
households, enhancing food processing sector,
rapid rise in tourism and hospitality sector.
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Coconut oil is being replaced by palm oil in
terms of domestic consumption. Canola oil and
soybean oil are the upcoming cooking oils in
Philippines The future for Philippines Cooking
Oil industry is compelling with anticipated
future CAGR of 9.7 from 2016-2021. The
Philippines Cooking Oil market will be driven by
rising population, changing lifestyles, expanding
tourism and anticipated hospitality boom. The
market is expected to witness growing preference
for healthier oils such as Canola oil as the
health conscious people in the country incline in
future. There is a positive outlook in the
retail category where supermarkets are gradually
eating up the market share of traditional
markets. The increase in the total import of
cooking oil will also fuel the cooking oil market
in Philippines. The increasing tourism in Luzon,
Western Visayas and Mindanao will further uplift
the number of hotel chains and restaurants sector
in the country. The rising hotel chains
restaurants will boost the demand for cooking oil
in the country.
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The Cargill Oil Mills plans to develop coconut
farming industry in the Rural Philippines which
will improve the cooking oil market in the period
2017-2019 as the ageing coconut trees in the
country will be replaced leading to better
productivity. The major growth in the Philippines
food manufacturing industry in the period
2019-2021 will aid Philippines cooking oil
market. Moreover, Philippines cooking oil
consumption patterns are expected to further
shift from using coconut oil to palm oil on
account of the anticipated future price
fluctuation in the coconut oil prices.
Furthermore, it is also anticipated that
Philippines will become the 5th largest
supermarket industry in the world. The growth of
supermarket industry will further reduce the
share of traditional markets in selling cooking
oils by the year 2021. Olive oil blended with
sunflower oil has been expected to generate
significant demand over the coming years as
number of health conscious people rise.
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Ken Research in its latest study, Philippines
Cooking Oil Market by Type (Palm, Coconut,
Soyabean, Canola, Corn and Others), by Region
(Luzon, Visayas and Mindanao) - Outlook to 2021
suggests that Minola, Baguio, Spring Cooking Oil,
Golden Fiesta and Marca Leon will remain the
major players in this space. However, these major
players will witness rising competition from
other smaller brands. Rising tourism, growing
hospitality industry, changing consumer
preferences and increase in number of households
is expected to drive the Philippines Cooking Oil
Market in the future. The report provides
information on market size of the Philippines
Cooking Oil Market, market segmentation on the
basis of major regions, distribution channels,
end users and type of cooking oil. Key Topics
Covered in the Report Soybean Oil Exports
Philippines Cooking Oil Market in
Philippines Palm Oil Consumption
Philippines Baguio Oil Coconut Oil
Philippines Philippines Palm Oil Future Edible
Oil Market Philippines Export Coconut Oil
Philippines
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For more information on the research report,
refer to below link https//www.kenresearch.com/f
ood-beverage-and-tobacco/general-food/philippines-
cooking-oil-market/142317-11.html Related
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eport/60307-11.html Contact Ken Research
Ankur Gupta, Head Marketing Communications sale
s_at_kenresearch.com 91-124-4230204