Albany, NY -- (SBWIRE) -- 11/14/2014 -- Product Synopsis

This report provides a top-level overview and detailed market, channel, and company-specific insights into the operating environment for foodservice companies

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Introduction and Landscape

Why was the report written?
This report is the result of Canadean's extensive market and company research covering the Philippine foodservice industry. It provides detailed analysis of both historic and forecast foodservice industry values at channel level, analysis of the leading companies in the industry, and Philippines's business environment and landscape.

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What is the current market landscape and what is changing?
The country has witnessed a considerable economic growth in the review period. This has contributed to the growth in the foodservice sales across channels.

What are the key drivers behind recent market changes?
The growing disposable income and the increase in the middle class population has contributed to the growth in consumer expenditure on leisure activities such as eating out.

What makes this report unique and essential to read?
Philippine Foodservice: The Future of Foodservice in Philippines to 2016 provides a top-level overview and detailed market, channel, and company-specific insights into the operating environment for foodservice companies. It is an essential tool for companies active across the Philippine foodservice value chain, and for new companies considering entering the market.

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Key Features and Benefits

* This report provides readers with unparalleled levels of detail and insight into the development of the foodservice sector within Philippines.
* This report provides readers with in depth data on the valuation and development of both the profit and cost sectors in the Philippine foodservice market.
* This report provides details on the number of outlets, transactions, average price, foodservice sales, sales per outlet, and transactions per outlet per week across nearly 50 sub-channels.
* This report provides highly granular future forecasts and historic market data to aid market and strategic planning.
* This report will help you to assess the impact of economic recession and recovery on foodservice market growth.

Key Market Issues

* The foodservice sector in Philippines is largely unorganized with several independent restaurants and small food outlets, which form the major part of the foodservice sector
* Despite the increasing number of internet and smartphone subscribers, the foodservice sector has lesser use of the technology. Very few full-service restaurants or QSR chains have used the online media as a way to connect to the consumer.
* The Philippines is a growing economy and it has a large young population with high unemployment rate of 7%. Moreover, the availability of skilled labor is also scarce for the foodservice sector.
* The Philippines has a food law, but the implementation of same is not strict. The country is taking lessons from the developed economies such as the US as far as the food law is concerned.
* Poverty in the Philippines is still widespread as there are 26% of the total population still considered as poor. This impedes the growth of foodservice sales in the country.

Key Highlights

* The Philippine GDP grew at a CAGR of 9.8% between 2005 and 2010. This contributed to the growth of foodservice sector. The economy saw the growth of a few international quick service restaurant chains in the country such as McDonald's, Burger King, Taco Bell, and KFC.
* The service sector contributed 54.4% to the GDP in 2011. However, the major contributors were the information technology (IT) and IT-enabled services (ITES) sectors with contributions from the tourism, retail, and foodservice sectors.
* In 2011, the tourism industry's contribution towards the GDP of the country was 2%, and the contribution is forecast to grow by 9.9% in 2012. With the increase in tourist inflow every year, this growth in tourism, supported by government investment in infrastructure, has boosted foodservice sales in the country.
* The unemployment rate in Philippines decreased from 7.3% in 2010 to 7% in 2011. The employment rate increased over the review period with the highest employment was observed in the service sector, especially the IT and ITES industries
* In 2011, the female working population comprised 46% of the total workforce, which was an increase of 1% from 45% in 2010. The growing population of working women prefers to eat out more frequently rather than prepare meals at home to save on time and effort.

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