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BAKED GOODS IN THE

PHILIPPINES
Euromonitor International
October 2015

BAKED GOODS IN THE PHILIPPINES

LIST OF CONTENTS AND TABLES


Headlines ..................................................................................................................................... 1
Trends .......................................................................................................................................... 1
Competitive Landscape ................................................................................................................ 2
Prospects ..................................................................................................................................... 3
Category Data .............................................................................................................................. 4
Table 1
Table 2
Table 3
Table 4
Table 5
Table 6
Table 7
Table 8
Table 9
Table 10
Table 11

Sales of Baked Goods by Category: Volume 2010-2015 ............................. 4


Sales of Baked Goods by Category: Value 2010-2015 ................................ 5
Sales of Baked Goods by Category: % Volume Growth 2010-2015 ............ 5
Sales of Baked Goods by Category: % Value Growth 2010-2015 ............... 5
NBO Company Shares of Baked Goods: % Value 2011-2015 ..................... 6
LBN Brand Shares of Baked Goods: % Value 2012-2015 ........................... 6
Distribution of Baked Goods by Format: % Value 2010-2015 ...................... 7
Forecast Sales of Baked Goods by Category: Volume 2015-2020 .............. 8
Forecast Sales of Baked Goods by Category: Value 2015-2020 ................. 8
Forecast Sales of Baked Goods by Category: % Volume Growth
2015-2020 .................................................................................................... 8
Forecast Sales of Baked Goods by Category: % Value Growth 20152020 ............................................................................................................. 9

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BAKED GOODS IN THE PHILIPPINES


HEADLINES
Baked goods improves by 5% in current value and 2% in volume in 2015 reaching Ps41
billion and volume sales of 238,000 tonnes
Continuous innovation by local players is met by new offerings from foreign brands
Packaged pastries records the highest current value growth of 9% in 2015
Unit price of baked goods increases by 3% in 2015
Gardenia Philippines Inc is the biggest player in baked goods with value share of 11% in 2015
Baked goods is predicted to register a value CAGR of 2% at constant 2015 prices over the
forecast period to reach Ps46 billion in 2020

TRENDS
Key players remained committed to keeping consumers interested in their brands through the
continuous launch of new products. Recent launches included Gardenias Cheese Cream
Roll, Mondes Belgian Waffles, Le Coeur de Frances Chocolat Almondine croissant and
Blueberry Crme Croissant and Julies Bakeshops flavoured pan de sal (local bread roll)
available in ube (purple yam), strawberry, buko (coconut) pandan, chocolate and mocha.
RFM Corp, on the other hand, expanded the dessert mixes of White King to include the new
Belgian Chocolate Chip Cookie Mix and Moist Chocolate Cake Mix. All these are set to
compete with new product offerings of foreign franchises such as Uncle Tetsu and Kumori
Bakery, both of which are famous for their Japanese cheesecakes, and the Danish Bar.
Japanese brand, Pablo, is also set to open in the middle of 2015 amidst the rising popularity
of Japanese cheesecakes in the country.
Baked goods grew by 5% in current value and 2% in retail volume terms in 2015, which were
both marginally faster than in 2014. The improvements will stem from the growing preference
by busy urban dwellers for bread for breakfast. While some Filipinos are expected to continue
to remain partial to rice even for breakfast since it is more filling, time-constrained individuals
will drive the growth of baked goods as their convenient option for breakfast.
Packaged pastries maintained its vibrant performance to record current value growth of 9% in
2015. Contributing to the favourable performance of packaged pastries is the continuous
expansion in outlets of major brands, Goldilocks and Red Ribbon. Since their products are not
available through grocery retailers, the spreading out of its store outlets to more locations is
their main avenue to improve their customer reach. In addition, most pastries are more
flavourful than bread but not as sweet as most cakes, giving it just the right taste profile that
consumers eat not only for breakfast but also during snack time.
The unit price of baked goods is predicted to rise by 3%, which is minimally higher than in
2014. The fluctuation in the price of raw materials is one source for the increase in unit price.
For instance, the anti-dumping duty on imported Turkish Flour provisionally imposed in 2014
was anticipated to take its full effect in 2015. Furthermore, players anticipate an upward trend
in the price of wheat as it increased by 6% in December 2014 in the global market due to the
lower harvest of hard wheat. Companies, meanwhile, addressed this by looking for alternate
suppliers for their other raw materials that allow some community bakeries to offer marginally
lower prices. The unit price also remained stable in 2015 due to promotions such as the
selling of baked goods at half the price or for a discount towards the end of the day by some
bakeries to minimise wastage.

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Packaged bread, cakes and pastries continued to dominate their unpackaged counterparts
with the former accounting for 54% of the total value sales of baked goods in 2015, while the
latter held 46%. One factor allowing packaged baked goods to maintain its lead was the
continuous expansion in outlets of modern grocery retailers resulting in the widening of its
distribution. Although some small bakeries may be adversely affected by this, unpackaged
baked goods is able to trail not too far behind since more upscale bakeries such as the
Danish Bar, Eric Kayser, Paul and St Marc Caf which is famous for its chocolate-filled pastry
called Chococro, are opening up in shopping centres. Unpackaged multi-portion cake is also
more versatile in offering customised designs that are more preferred for occasions such as
weddings or special birthday celebrations.
Packaged bread is comprised mainly of buns, wholewheat and white bread. Among these
packaged bread types, white bread continued to dominate with value share of 45% share of
total packaged bread in 2015. Its significant contribution is due to the popularity of sliced
bread loaf, commonly referred to as tasty, for making sandwiches. Its value share, however,
slowly declined as consumers switched to wholewheat bread as awareness of its health
benefits improved. This drove the steady increase in the value share of wholewheat bread to
sit at 29% in 2015. The share of buns, meanwhile, is expected to remain at 7% contributed by
the occasional purchases of hamburger and hotdog buns.
Homemade baked goods pose a minimal threat to the performance of retail baked goods.
This is because homemade baked goods supplied by stay-at-home mothers or home-based
chefs are mostly composed of cupcakes and multi-portion cakes. Their clients are also
generally limited to friends and acquaintances within the neighbourhood. Some, however, are
able to expand their customer base through social media accounts or group buying sites that
allows them to promote their home-based baked goods to others. They are able to
differentiate their products mainly through unique or customised designs not usually offered
by industrially prepared baked goods.

COMPETITIVE LANDSCAPE
Gardenia Philippines Inc is the biggest company in baked goods. Aside from marketing and
promotional activities, its established reputation for quality and guarantee that none of its
products are handheld also helped propel it to prominence. It also continuously innovates and
expands it distribution, which now includes more provinces in Mindanao. Goldilocks Bake
Shop trailed closely behind with its success driven as well by the introduction of new products
and expansion of its distribution network. It also adequately promotes its brand and for 2015,
it will be present in the new theme park, KidZania, where it will give children a chance to try
out baking.
Artisanal players together accounted for the biggest value share of overall baked goods in
2015 of 43%. The significant value share of artisanal players stems from the presence of
numerous neighbourhood bakeries especially in rural areas. These remain as a major source
of baked goods especially pan de sal (local bread roll) which is popular for breakfast and
preferred freshly baked. Artisanal bakeries in urban areas are also growing in number with the
entry of foreign players that cater to more upscale consumers. Examples of which include
Paul, Eric Kayser and the Danish Bar. Although expensive, they are still patronised by affluent
individuals since their products are perceived as being more superior in quality and taste. In
general, baked goods from artisanal players are preferred when available since their products
are freshly prepared and are usually more differentiated than their industrial counterparts are.
Red Ribbon Bake Shop Inc earned the biggest increase in value sales in 2015 of 9%. One
source of its vibrant performance was its relatively small value share of 3% in 2015, which

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gives it many opportunities for growth. Red Ribbon strives to catch up with its closest
competitor, Goldilocks, through the continuous opening of store outlets and expansion of its
product line. Some of its recent product launches include the Cookies and Cream Mamon
(chiffon cake) and Pork Pandesal, which is a pan de sal (local bread roll) with a pork barbecue
filling. It also re-launched its ensaymada (local pastry) which now has more grated cheese on
top.
Universal Robina Corp expanded its presence in baked goods with the launch of Jack n Jill
Cream-O Brownie Crunch towards the end of 2014. It is available in two variants, Peanut
Thins and Choco Chips, and retails for Ps35. It is differentiated from the traditional brownie,
as it is thin and crisp. Another new product is Jack n Jill Mallow Puff, which is priced at
Ps13.50 per box containing two pieces. It is considered as a me-too product of Fibisco Choco
Mallows by Commonwealth Foods Inc. Among its promotional activities is the visit of the Puff
and Post Vendo Machine in different shopping centres in Metro Manila. The machine
dispenses a free box of Mallow Puff in exchange for a Facebook or Instagram post made
through the machine.
New artisanal players in 2015 included the Danish Bar that is an affiliate of the Little Mermaid
Bakery based in Japan. Its first outlet is situated at SM North EDSA. The growing popularity of
Japanese Cheesecake, meanwhile, is encouraging entrepreneurs to bring in Japanese
bakeries in the country. One of them is Kumori Bakery that has outlets at Landmark Makati
and SM Makati with another to be opened at SM North EDSA. The makers of Walter bread,
Walter Co Inc, together with its business partner, Choi Group, meanwhile, are behind the
entry of Uncle Tetsu, which is famous for its Japanese cheesecake priced at Ps299 per piece.
Japanese brand, Pablo, on the other hand, is set to be bought in by Suyen Corp in 2015 and
open outlets in several locations including Robinsons Manila, Bonifacio High Street, Greenbelt
5, UP Town Center and Trinoma. Suyen Corp was also behind the entry of St Marc Caf in
2014. French patisserie, Ladure, famous for its macarons, opened an outlet in August 2015
at Rockwell, Makati City.
The promotional event, The Next Big Sandwich Hit, was conducted by Gardenia Philippines
for the second year in September 2014. Culinary students from 10 universities were pitched
against each other in creating nutritious sandwich creations. The winner received Ps80,000 in
cash and Ps30,00 worth of bread for starting up a business. The winning school, meanwhile,
received Ps50,000 worth of bread, while the teacher received Ps10,000. The final elimination
round for the contest was held during the Happy Bread Day event at SM Mall of Asia in
October 2014. The event, which was also conducted in celebration of the World Bread Day,
gave attendees a chance to participate in various activities and get free product samples. The
celebration, which is on its third year, was also aimed towards improving consumer
awareness on the nutritional value of bread. French Baker, meanwhile, held the Visit Paris in
Summer 2015 raffle promotion in celebration of its 25th anniversary where the winner gets to
visit Paris for 10 days.
Private label is available mainly through the SM Bonus brand by SM Retail Inc. Although its
price is competitive, its product line is limited. As such, although economy brands may lose
some of its share in a category, brands with a wide portfolio can rely on their other products to
make up for the loss.

PROSPECTS
Baked goods is predicted to record a value CAGR of 2% at constant 2015 prices over the
forecast period which will be marginally better compared to its review period performance.
One of the various factors is predicted to be the continuous innovation by companies, which

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renews consumers interest in baked goods. Another is the franchising of foreign brands,
which local entrepreneurs increasingly prefer over building their own label. The busy lifestyles
of urban dwellers will also assist the growth of baked goods as they switch from rice in favour
of bread and/or pastries for breakfast.
Bread will continue to be challenged by rice, which is a staple in the Filipino diet. Cakes and
pastries, meanwhile, which are commonly consumed as snacks will continually face
competition from substitutes such as biscuits and salty snacks. In general, baked goods will
be threatened by alternative products, which are likely to remain as the only factor that could
affect its performance over the forecast period.
Packaged bread is expected to outpace other areas as it is predicted to register a value
CAGR of 4% at constant 2015 prices over the forecast period. Unlike cakes and pastries,
which tend to be bought only occasionally, purchases of bread are more frequent as it used
as a substitute for rice for breakfast or salty snacks during break time. Furthermore, the
favourable performance of packaged bread is assisted by the continuous expansion of
modern grocery retailers, especially convenience stores that will allow it to expand its
distribution to more areas closer to consumers homes.
The unit price is expected to remain stable and register minimal increases over the forecast
period. Although prices of raw materials may fluctuate, the supply of affordable alternatives is
ensured through brands such as Pinoy Tasty and PinoyPandesal both of which are a project
of the Department of Trade and Industry and major bakery associations in the country. This
will temper the rise in unit price that fluctuating input costs or the growth of upscale artisanal
bakeries could potentially bring.
Japanese cheesecakes could potentially grow in prominence enough to drive even local
players to create their own version of it. While Japanese bakeries could boast of authenticity,
domestic players are likely to drive sales through a more accessible selling price.
Gardenia Philippines made known its plan to expand its production facility since its current
factory is operating near full capacity. It will allot Ps2 billion for the establishment of a plant in
Laguna and another possibly in the Visayas-Mindanao region. This is also in line with its goal
to improve per capita consumption of bread across all income groups and not just the more
affluent sector. The company aims to improve its penetration of the low-end of the market by
expanding the distribution of Neubake to cover the whole Luzon region instead of being
available only in Metro Manila and major cities. Neubake and other low-priced variants it plans
to produce is set to compete with Pinoy Tasty which is an affordable sliced white bread
subsidised by major bakeries.

CATEGORY DATA
Table 1

Sales of Baked Goods by Category: Volume 2010-2015

'000 tonnes

Bread
- Bread Substitutes
- Packaged Bread
- Unpackaged Bread
Cakes
- Packaged Cakes
- Unpackaged Cakes
Dessert Mixes

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2010

2011

2012

2013

2014

2015

132.0
53.6
78.4
30.4
14.2
16.2
0.4

135.6
56.8
78.8
30.6
14.3
16.3
0.4

139.5
60.2
79.2
30.9
14.5
16.4
0.4

142.2
62.7
79.6
31.2
14.6
16.6
0.4

145.0
65.0
80.0
31.6
14.9
16.7
0.4

147.7
67.2
80.4
32.0
15.1
16.9
0.4

BAKED GOODS IN THE PHILIPPINES

Frozen Baked Goods


Pastries
- Packaged Pastries
- Unpackaged Pastries
Baked Goods
Source:

Passport

8.3
44.2
29.0
15.2
215.2

8.4
44.9
29.6
15.4
219.9

8.5
45.7
30.2
15.5
225.0

8.6
46.5
30.9
15.6
228.9

8.7
47.6
31.9
15.7
233.2

8.8
48.8
32.9
15.9
237.7

Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 2

Sales of Baked Goods by Category: Value 2010-2015

PHP million

Bread
- Bread Substitutes
- Packaged Bread
- Unpackaged Bread
Cakes
- Packaged Cakes
- Unpackaged Cakes
Dessert Mixes
Frozen Baked Goods
Pastries
- Packaged Pastries
- Unpackaged Pastries
Baked Goods
Source:

2010

2011

2012

2013

2014

2015

14,649.2
6,828.4
7,820.7
8,578.2
3,524.1
5,054.1
128.6
2,290.0
6,382.2
4,206.3
2,175.9
32,028.1

15,566.6
7,511.3
8,055.4
8,896.0
3,665.0
5,231.0
135.6
2,324.3
6,720.2
4,500.8
2,219.4
33,642.8

16,618.8
8,187.3
8,431.5
9,202.5
3,836.2
5,366.3
142.4
2,370.8
7,103.6
4,838.3
2,265.3
35,438.2

17,529.2
8,760.4
8,768.8
9,490.9
4,028.0
5,462.9
149.7
2,394.5
7,536.0
5,225.4
2,310.6
37,100.3

18,493.2
9,329.8
9,163.4
9,809.6
4,237.4
5,572.2
159.4
2,442.4
8,031.0
5,669.6
2,361.4
38,935.6

19,483.7
9,889.6
9,594.1
10,165.3
4,470.5
5,694.8
170.1
2,486.4
8,588.9
6,168.5
2,420.5
40,894.4

Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 3

Sales of Baked Goods by Category: % Volume Growth 2010-2015

% volume growth

Bread
- Bread Substitutes
- Packaged Bread
- Unpackaged Bread
Cakes
- Packaged Cakes
- Unpackaged Cakes
Dessert Mixes
Frozen Baked Goods
Pastries
- Packaged Pastries
- Unpackaged Pastries
Baked Goods

2014/15

2010-15 CAGR

2010/15 Total

1.9
3.4
0.6
1.3
1.7
1.0
3.8
0.9
2.6
3.4
1.0
1.9

2.3
4.7
0.5
1.0
1.3
0.8
3.4
1.1
2.0
2.6
0.8
2.0

11.9
25.5
2.6
5.3
6.6
4.3
18.0
5.6
10.4
13.7
4.3
10.4

Source:

Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 4

Sales of Baked Goods by Category: % Value Growth 2010-2015

% current value growth


2014/15

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2010-15 CAGR

2010/15 Total

BAKED GOODS IN THE PHILIPPINES

Passport

Bread
- Bread Substitutes
- Packaged Bread
- Unpackaged Bread
Cakes
- Packaged Cakes
- Unpackaged Cakes
Dessert Mixes
Frozen Baked Goods
Pastries
- Packaged Pastries
- Unpackaged Pastries
Baked Goods
Source:

5.4
6.0
4.7
3.6
5.5
2.2
6.7
1.8
6.9
8.8
2.5
5.0

33.0
44.8
22.7
18.5
26.9
12.7
32.3
8.6
34.6
46.6
11.2
27.7

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store checks, trade interviews, trade sources

Table 5

NBO Company Shares of Baked Goods: % Value 2011-2015

% retail value rsp


Company
Gardenia Philippines Inc
Goldilocks Bake Shop Inc
MLM Foods Inc
Regent Foods Corp
Red Ribbon Bake Shop Inc
Big E Food Products
Suncrest Foods Inc
Bambi Foods Mfg Corp
Universal Robina Corp
SM Retail Inc
LC's Yummies
Village Breadhouse
Boulangerie Francaise Inc
French Baker Inc
Unilever Foods
Philippines (CMC)
Galactica Corp
Sara Lee Bakery Group
European Baker, The
Filia Foods Inc
Honey Bread Bakeshop
Piccadilly Food
Products Inc
Barley's Foods Corp
Artisanal
Others
Total
Source:

5.9
7.7
4.2
3.5
4.9
2.4
5.8
1.7
6.1
8.0
2.2
5.0

2011

2012

2013

2014

2015

9.6
8.5
4.4
2.9
2.4
2.6
2.5
2.6
1.6
1.4
1.3
1.1
0.8
0.6
0.2

9.9
8.8
4.5
2.9
2.4
2.6
2.5
2.6
1.6
1.4
1.3
1.0
0.8
0.6
0.2

10.3
9.2
4.5
2.9
2.5
2.6
2.5
2.5
1.6
1.4
1.3
1.0
0.8
0.7
0.2

10.5
9.5
4.5
2.9
2.6
2.7
2.5
2.5
1.6
1.4
1.2
1.0
0.8
0.7
0.3

10.8
9.8
4.5
2.9
2.7
2.7
2.5
2.4
1.6
1.4
1.2
0.9
0.9
0.7
0.3

0.3
0.2
-

0.3
0.2
-

0.3
0.2
-

0.3
0.1
-

0.2
-

46.1
11.0
100.0

45.3
10.9
100.0

44.6
11.0
100.0

43.9
11.1
100.0

43.3
11.3
100.0

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Table 6

LBN Brand Shares of Baked Goods: % Value 2012-2015

% retail value rsp


Brand

Company

Gardenia

Gardenia Philippines Inc

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2012

2013

2014

2015

9.9

10.3

10.5

10.8

BAKED GOODS IN THE PHILIPPINES

Goldilocks
Fortune
Regent
Red Ribbon
Lemon Square
Bambi
Jack 'n' Jill
SM Bonus
Elsie's
Fudgee Barr
United Village
Breadhouse
Le Coeur de France
Jam Bites
French Baker
Cupp Keyk
Mini Keyk
Alsa
Pan-A-Cup
Sara Lee
Barley's
European Baker
Whammos
Honey Bread
Piccadilly

Passport

Goldilocks Bake Shop Inc


MLM Foods Inc
Regent Foods Corp
Red Ribbon Bake Shop Inc
Big E Food Products
Bambi Foods Mfg Corp
Universal Robina Corp
SM Retail Inc
LC's Yummies
Suncrest Foods Inc
Village Breadhouse

8.8
4.5
2.9
2.4
2.6
2.6
1.6
1.4
1.3
0.9
1.0

9.2
4.5
2.9
2.5
2.6
2.5
1.6
1.4
1.3
0.9
1.0

9.5
4.5
2.9
2.6
2.7
2.5
1.6
1.4
1.2
0.9
1.0

9.8
4.5
2.9
2.7
2.7
2.4
1.6
1.4
1.2
1.0
0.9

Boulangerie Francaise Inc


Suncrest Foods Inc
French Baker Inc
Suncrest Foods Inc
Suncrest Foods Inc
Unilever Foods
Philippines (CMC)
Galactica Corp
Sara Lee Bakery Group
Barley's Foods Corp
European Baker, The
Filia Foods Inc
Honey Bread Bakeshop
Piccadilly Food
Products Inc

0.8
0.8
0.6
0.4
0.3
0.2

0.8
0.8
0.7
0.4
0.3
0.2

0.8
0.8
0.7
0.4
0.3
0.3

0.9
0.8
0.7
0.4
0.3
0.3

0.3
0.2
-

0.3
0.2
-

0.3
-

0.2
-

45.3
10.9
100.0

44.6
11.0
100.0

43.9
11.2
100.0

43.3
11.3
100.0

Artisanal
Others
Total
Source:

Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 7

Distribution of Baked Goods by Format: % Value 2010-2015

% retail value rsp

Store-Based Retailing
- Grocery Retailers
-- Modern Grocery
Retailers
--- Convenience Stores
--- Discounters
--- Forecourt Retailers
--- Hypermarkets
--- Supermarkets
-- Traditional Grocery
Retailers
--- Food/drink/tobacco
specialists
--- Independent Small
Grocers
--- Other Grocery
Retailers
- Non-Grocery Specialists
-- Health and Beauty
Specialist Retailers
-- Mixed Retailers

Euromonitor International

2010

2011

2012

2013

2014

2015

100.0
99.5
27.7

100.0
99.6
28.1

100.0
99.6
28.5

100.0
99.6
28.6

100.0
99.7
28.7

100.0
99.7
28.8

0.3
3.0
24.4
71.8

0.3
3.3
24.5
71.5

0.3
3.4
24.8
71.2

0.3
3.5
24.9
71.1

0.3
3.5
24.9
71.0

0.3
3.5
25.0
70.9

49.5

49.6

49.7

49.8

49.9

50.0

4.7

4.5

4.3

4.3

4.3

4.2

17.6

17.4

17.1

17.0

16.8

16.7

0.5
0.5

0.4
0.4

0.4
0.4

0.4
0.4

0.3
0.3

0.3
0.3

BAKED GOODS IN THE PHILIPPINES

-- Other Foods NonGrocery Specialists


Non-Store Retailing
- Vending
- Homeshopping
- Internet Retailing
- Direct Selling
Total

Passport

100.0

100.0

100.0

100.0

100.0

100.0

Source:

Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 8

Forecast Sales of Baked Goods by Category: Volume 2015-2020

'000 tonnes

Bread
- Bread Substitutes
- Packaged Bread
- Unpackaged Bread
Cakes
- Packaged Cakes
- Unpackaged Cakes
Dessert Mixes
Frozen Baked Goods
Pastries
- Packaged Pastries
- Unpackaged Pastries
Baked Goods
Source:

2015

2016

2017

2018

2019

2020

147.7
67.2
80.4
32.0
15.1
16.9
0.4
8.8
48.8
32.9
15.9
237.7

150.0
69.1
80.9
32.4
15.4
17.1
0.5
8.8
50.0
34.0
16.0
241.7

152.1
70.7
81.3
32.9
15.6
17.3
0.5
8.8
51.2
35.1
16.1
245.5

154.7
72.6
82.1
33.5
15.9
17.5
0.5
8.9
52.7
36.4
16.3
250.3

157.9
74.6
83.3
34.2
16.3
17.9
0.5
9.1
54.4
37.8
16.6
256.0

161.5
76.7
84.8
34.9
16.6
18.2
0.5
9.3
56.3
39.3
17.0
262.5

Euromonitor International from trade associations, trade press, company research, trade interviews,
trade sources

Table 9

Forecast Sales of Baked Goods by Category: Value 2015-2020

PHP million

Bread
- Bread Substitutes
- Packaged Bread
- Unpackaged Bread
Cakes
- Packaged Cakes
- Unpackaged Cakes
Dessert Mixes
Frozen Baked Goods
Pastries
- Packaged Pastries
- Unpackaged Pastries
Baked Goods
Source:

Table 10

2015

2016

2017

2018

2019

2020

19,483.7
9,889.6
9,594.1
10,165.3
4,470.5
5,694.8
170.1
2,486.4
8,588.9
6,168.5
2,420.5
40,894.4

19,976.1
10,260.6
9,715.5
10,297.3
4,569.0
5,728.2
173.7
2,456.1
8,723.0
6,289.8
2,433.2
41,626.2

20,469.6
10,605.9
9,863.8
10,454.6
4,669.9
5,784.6
177.7
2,422.4
8,855.6
6,411.5
2,444.0
42,379.8

21,068.6
10,987.1
10,081.4
10,656.7
4,790.4
5,866.3
182.3
2,405.5
9,027.6
6,559.6
2,468.0
43,340.6

21,763.4
11,400.3
10,363.2
10,878.2
4,917.4
5,960.8
187.3
2,400.5
9,231.8
6,729.0
2,502.8
44,461.3

22,545.6
11,842.1
10,703.5
11,115.5
5,052.4
6,063.1
192.7
2,404.2
9,462.5
6,915.9
2,546.6
45,720.4

Euromonitor International from trade associations, trade press, company research, trade interviews,
trade sources

Forecast Sales of Baked Goods by Category: % Volume Growth 2015-2020

Euromonitor International

BAKED GOODS IN THE PHILIPPINES

Passport

% volume growth

Bread
- Bread Substitutes
- Packaged Bread
- Unpackaged Bread
Cakes
- Packaged Cakes
- Unpackaged Cakes
Dessert Mixes
Frozen Baked Goods
Pastries
- Packaged Pastries
- Unpackaged Pastries
Baked Goods
Source:

Table 11

2015/16

2015-20 CAGR

2015/20 Total

2.3
2.9
1.8
2.2
2.2
2.1
4.6
2.0
3.5
4.1
2.1
2.5

1.8
2.7
1.1
1.8
2.0
1.6
4.2
1.1
2.9
3.6
1.3
2.0

9.3
14.1
5.4
9.1
10.2
8.2
23.0
5.8
15.3
19.4
6.8
10.4

Euromonitor International from trade associations, trade press, company research, trade interviews,
trade sources

Forecast Sales of Baked Goods by Category: % Value Growth 2015-2020

% constant value growth

Bread
- Bread Substitutes
- Packaged Bread
- Unpackaged Bread
Cakes
- Packaged Cakes
- Unpackaged Cakes
Dessert Mixes
Frozen Baked Goods
Pastries
- Packaged Pastries
- Unpackaged Pastries
Baked Goods
Source:

2015/2016

2015-20 CAGR

2015/20 TOTAL

3.6
3.9
3.3
2.2
2.7
1.7
2.9
0.2
2.5
2.8
1.8
2.8

3.0
3.7
2.2
1.8
2.5
1.3
2.5
-0.7
2.0
2.3
1.0
2.3

15.7
19.7
11.6
9.3
13.0
6.5
13.3
-3.3
10.2
12.1
5.2
11.8

Euromonitor International from trade associations, trade press, company research, trade interviews,
trade sources

Euromonitor International

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