minerals, botanicals, carotenoids, cocoa liquor and powder, flavor enhancers, modified flour, PH / controlled salt, Polysaccharides & Oligosaccharides, raising agents and reducing agents collectively captured the remaining revenue share worth ~% in Philippines food ingredients market in the year 2016. In 2016, the average price for food coloring( yellow / red / blue) was observed to be USD ~ per kg approximately; hence termed as affordable in the Philippines. The beverages segment dominated Philippines food colors market with volume share worth ~% of total sales volume in the year 2016 whereas; the packaged foods segment captured the remaining volume share worth ~% of total sales volume in 2016.
Philippines cultures market generated volume share of ~% in 2016 while emulsifiers market generated volume share of ~% in 2016. Philippines botanical extracts market on the other hand generated volume share of ~% in 2016 and carotenoids market generated volume share of ~% in 2016.
By Products Imported and Locally Manufactured
Imports of food ingredients majorly dominated Philippines food ingredients market with revenue share worth ~% in the year 2016. Whereas, locally manufactured food ingredients captured the remaining revenue share worth ~% in the year 2016.
By Food and Beverages
The processed foods segment including meal replacement and packaged foods collectively dominated Philippines food ingredients market with volume share of ~% in the year 2016. Artificial sweeteners, synthetic Trans’ fats, artificial flavors, Monosodium Glutamate( MSG), artificial colors, high-fructose corn syrup and preservatives were majorly used in processed foods in the country. On the other hand, the beverages segment captured the remaining volume share worth ~% in the Philippines food ingredients market in 2016.
Comparative Landscape in Philippines Food Ingredients Market
Philippines food ingredients market is highly concentrated with the presence of manufacturers such as BNC Ingredients Corporation Philippines, TNC Chemicals Philippines Inc, Actron Industries Inc, NECO Chemicals Philippines Inc, Versa Group Philippines Corporation, DU Pont Philippines, New Flavor House Inc, SBS Philippines Corporation, Kerry Food Ingredients Philippines Inc and other players such as Achievers Food & Bakery Ingredients Corp and Applied Food Ingredients. Players operating in the food ingredients market compete on the basis of pricing, brand value, production capacity, domestic manufacturing / import and others. Local tastes and modern interpretations of Filipino dishes has led to growing popularity of Filipino cuisines over the globe, thus, driving the demand for mostly used food ingredients such as food flavors, sweeteners, food colors, preservatives and fragrance.