Philippines Baby Food - Market Assessment and Forecasts to 2029

The number of live births in the Philippines declined by 25.6% during 2017-23, reaching 1.2 million in 2023. This resulted in a baby population of 4 million in 2023. The GDP of the Philippines grew by 5.6% in 2023, while consumer price inflation stood at 6.1%. Overall sales in value terms grew in recent years with the sector registering a CAGR of 0.7% during 2017-23. In volume terms, sales decreased in 2023 registering a negative CAGR of 3.6% during 2017-23. Baby milks remained the largest category in value terms with over 85% of the baby food sector, followed by baby cereals & dry meals. Nestle and Mead Johnson (Reckitt Benckiser) were the top two companies in 2023. Hypermarkets & supermarkets remained the leading distribution channel, accounting for over 80% of overall value sales in 2023. GlobalData estimates that the number of live births will decrease over the forecast period in the Philippines. The market for baby food in the country is expected to decrease in value terms during 2023-29, registering a negative CAGR of 0.7%.

Key Highlights

• Value sales of baby milks grew from PHP45.9 billion ($910.6 million) in 2017 to PHP48.5 billion ($871.4 million) in 2023, recording a CAGR of 0.9% during this period.
• Baby cereals & dry meals volumes decreased from 12.66 million kg in 2017 to 9.97 million kg in 2023, at a negative CAGR of 3.9%.
• Value sales of the baby wet meals & others category rose from PHP114 million ($2.3 million) in 2017 to PHP137.1 million ($2.5 million) in 2023, at a CAGR of 3.1%.
• During 2017-23, per capita consumption of baby finger food increased by 10%.
• During 2017-23, per capita expenditure on baby drinks increased by 47.4% in current price terms, and by 14.4% in constant price terms.

Scope

This report brings together multiple data sources to provide a comprehensive overview of the baby food sector in the Philippines, as part of GlobalData's global coverage of the sector. It includes an analysis of the following -

• Market environment: The report provides a comparative analysis of the value and volume shares of the Philippines against the Asia-Pacific and global baby food sectors. Additionally, the per capita consumption (PCC)* of and per capita expenditure (PCE)* on baby food in the Philippines are compared at regional and global levels.
• Background: Provides an overview of births, consumer trends, sociodemographic trends, working women population, and regulations in the Philippines baby food sector.
• Category coverage and competitive landscape: The report offers an overview of growth at a sector level and provides an analysis of five categories: baby milks, baby cereals & dry meals, baby wet meals & others, baby finger food, and baby drinks. These categories are analyzed by value, volume, and CAGR for the 2017-29 period. The analysis also includes the PCC of and PCE on baby food in the Philippines, by category. The report provides an analysis of leading manufacturers and brands in the Philippines baby food sector in 2023 and their sales shares in each category.
• Production and trade: The report provides an analysis of imports and exports in the Philippines baby food sector.
• Distribution channels: Provides analysis on the leading distribution channels at both sector and category level in 2023.
• Economic background: The report also provides an outlook on macroeconomic indicators in the Philippines, with a snapshot of the economy and labor market.

Reasons to Buy

• Evaluate important changes in consumer behavior and identify profitable markets and areas for product innovation.
• Analyse current and forecast behavior trends in each category to identify the best opportunities to exploit.
• Detailed understanding of consumption by individual product categories in order to align your sales and marketing efforts with the latest trends in the market.
• Investigates which categories are performing the best and how this is changing market dynamics.