Philippines Frozen Food Market Report and Forecast 2024-2032

Philippines Frozen Food Market Size

The Philippines frozen food market is projected to grow at a CAGR of 7.5% between 2024 and 2032, aided by the rising demand for quick and nutritious food items and family meals.

Philippines Frozen Food Market Outlook

• Between January-March 2023, the Philippines imported 142.5 million kilos of frozen chicken.

• The Bureau of Animal Industry and the Department of Agriculture are responsible for issuing regulations regarding frozen food shipments.

• In 2023, the Philippines exported USD$1.6 billion worth of agricultural products.

Philippines Frozen Food Market Growth

In 2023, the Philippines’ GDP growth rate surpassed that of Malaysia (3.8%), China (5.2%), and Vietnam (5.0%) at 5.6%. Despite the presence of several economic pressures, household spending remained robust due to the presence of a healthy job market. Moreover, increasing in the inflow of foreign remittances also drove the GDP growth rate over 5% in Q4 of 2023, leading to higher disposable incomes. This is expected to encourage the demand for meal kits and frozen food items, especially among working professionals aged between 25-45 years due to the rising preference for nutritious and quick meal solutions.

As consumers seek to improve their dining experiences at home, the demand for superior ingredients and expertly formulated frozen foods is expected to surge. Increasing innovation in gourmet food options and improvements in product packaging have also enhanced the consumer appeal for frozen foods. Moreover, the emergence of sustainable packaging materials and the use of recycled content in food packaging has made it more appealing for consumer purchases. With the growing demand for healthy frozen snacks, sweet desserts and flavourful quiches are expected to become highly popular among Gen Zs. Unique snack offerings from companies engaged in producing frozen plant-based meals are expected to benefit from the increasing demand for convenience foods.

Philippines Frozen Food Industry Segmentation

Philippines Frozen Food Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:

Market Breakup by Type

• Ready-to-Drink

• Ready-to-Eat

• Ready-to-Cook

• Others

Market Breakup by Product

• Frozen Meals

• Frozen Seafood, Meat and Poultry

• Frozen Fruits and Vegetables

• Frozen Potatoes

• Frozen Soup

• Dairy Products

• Others

Market Breakup by End Use

• Food Service Industry

• Retail

Market Breakup by Distribution Channel

• Hypermarkets/Supermarkets

• Convenience Stores

• Online Channels

• Others

Philippines Frozen Food Market Share

Based on distribution channel, the market is segmented into hypermarkets/supermarkets, convenience stores, and online channels, among others. Over the forecast period, online channels are expected to grow at a CAGR of 10.4% due to rising internet accessibility and smartphone penetration rates.

Leading Companies in the Philippines Frozen Food Market

In 2023, WTH Foods, a plant-based meat producing company in the Philippines, launched a range of plant-based frozen food products, including meatballs, sausages, burgers, tuna, ham, and tapa, among others.

• San Miguel Corporation

• Century Pacific Food Inc.

• Ruiz Foods

• Vitarich Corporation

• Mrs. Garcia's Meatworld International Inc.

• King Sue Ham & Sausage Co., Inc.

• Others

Key Highlights of the Report

Philippines Frozen Food Market Report Snapshots

Philippines Frozen Food Market Size

Philippines Frozen Food Market Growth

Philippines Frozen Food Market Share

Philippines Frozen Food Companies