Philippines: Food Processing Ingredients
The Philippines’ rapidly expanding production of processed food and beverage (F&B) presents robust opportunities for U.S. exporters of agricultural raw materials and high-value ingredients. In 2015, the F&B processing industry’s gross value-added output increased three percent over the previous year and reached $27.8 billion. Roughly 90 percent of the Philippine F&B processing industry’s output is consumed domestically, with excellent growth prospects stemming from the country’s resilient economy and strong consumer base. In addition, as quality and efficiency continue to improve, the Philippines will be in a position to exploit export opportunities due to its strategic location and membership in various free trade agreements, such as the ASEAN Free Trade Area and the EFTA-Philippines Free Trade.
