Philippines: Baking Ingredients Market Brief

  |   Attaché Report (GAIN)   |   RP2023-0043

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Office of Agricultural Affairs, Manila   |   (011-632) 301-4900

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Philippines: Baking Ingredients Market Brief

In 2022, the Philippine baking industry spent roughly $1.5 billion on ingredients, with 77 percent ($1.2 billion) imported. The United States supplied more than 55 percent or $845 million worth of ingredients, mostly wheat. The baking industry is projected to grow at a compound annual growth rate of five percent and reach $2.5 billion in retail sales by 2027. Traders believe the United States is well-positioned to increase its exports of baking ingredients to the Philippines in the coming years by leveraging the Filipino consumers’ general preference for high-quality U.S.-origin products.

Exporting
East Asia and the Pacific, Philippines

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