Report Overview

2023

Base Year

2018-2023

Historical Year

2024-2032

Forecast Year

Philippines Food Service Market Size

The Philippines food service market reached around USD 10.98 million in 2023. The market is projected to grow at a CAGR of 15.1% between 2024 and 2032 to reach nearly USD 38.93 million by 2032.

 

Philippines Food Service Market Report Summary Description Value
Base Year USD Million 2023
Historical Period USD Million 2018-2023
Forecast Period USD Million 2024-2032
Market Size 2023 USD Million 10.98
Market Size 2032 USD Million 38.93
CAGR 2018-2023 Percentage XX%
CAGR 2024-2032 Percentage 15.1%
CAGR 2024-2032 - Market by Sector Fast Food Restaurants 16.3%
CAGR 2024-2032 - Market by Systems Conventional Foodservice System 16.2%
2023 Market Share by Sector Full-Service Restaurants XX%

 

Philippines Food Service Market Outlook

  • By 2034, the local tourism industry is expected to constitute 22% of the Philippines’ overall economic size.
  • In 2019, overall sales of food service outlets in the Philippines amounted to over USD 13 billion.
  • In 2021, restaurants accounted for 77.2% of all new accommodation and food service establishments.

 

Philippines Food Service Market Report Snapshots

Philippines Food Service Market Size

Philippines Food Service Market Growth

Philippines Food Service Market Share

Philippines Food Service Companies

 

*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*

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Key Questions Answered in the Report

The market reached nearly USD 10.98 million in 2023.

The market is projected to grow at a CAGR of 15.1% between 2024 and 2032.

The market is assessed to witness healthy growth in the forecast period to reach around USD 38.93 million in 2032.

The major sectors in the market include commercial and non-commercial.

The different systems in the market include conventional foodservice system, centralised foodservice system, ready prepared foodservice system, and assembly-serve foodservice system.

The different restaurants in the food service industry include fast food restaurants, full-service restaurants, limited-service restaurants, and special food services restaurants.

The key market players are McDonald’s Corporation, Domino’s Pizza Inc., Yum! Brands, Inc., Burger King Corporation, DD IP Holder LLC (Golden Donuts Inc), Tim Hortons Restaurants International GmbH, and J.CO Donuts & Coffee’s, among others.

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