Philippines: Shelf-Stable and Frozen Ready Meals Market Brief

Amidst government warnings to stay home, food service players moved their business off-premises and with the help of food delivery companies, made it easier for consumers to purchase meals. Retailers are also reporting brisk sales in ready meals, growing 12 percent in 2020 to $81 million. Industry contacts forecast sales of meals from the overall food service and retail channels will increase five percent in 2021 to $6.6 billion, as companies introduce higher-quality products and make improvements in e-commerce and delivery services. U.S. suppliers can grab a share of this market by introducing shelf-stable and frozen ready meals. With changing consumer habits, Post sees 5 to 8 percent annual growth over the next five years even after lockdown restrictions have eased and more people dine in restaurants.