UNITED KINGDOM, London. Fuelled by increasing disposable income due to growing employment levels, the meat sector in the Philippines is expected to grow at a compound annual growth rate (CAGR) of 5.2% from $ 3.9 bn. in 2018 to $ 4.8 bn. by 2023, says GlobalData, a leading data and analytics company.
GlobalData’s report, ‘Country Profile: Meat in Philippines’, reveals that fresh meat available in retail counters held the largest value share of 43.6%, followed by the frozen meat category, which accounted for a value share of 30.8% in 2018.
In 2018, San Miguel Corporation, Cdo Foodsphere, Inc. and Jaro Development Corporation were the leading market players while Monterey, Cdo, and Jdc were the top brands in the country. Hypermarkets and supermarkets was the dominant distribution channel for the sales of meat products while private label products accounted for a value share of 7.9% in 2018.