Market Research Reports - Ken Research Cooking Oil Market in Philippines

Philippines Cooking Oil Consumption is Expected to Reach over 2,700 Thousand Tons by 2021:
Ken Research
Philippines Cooking Oil Market by regions (Luzon, Visayas and Mindanao), by Distribution
Channels (Traditional Markets, Direct Sales, Supermarkets and Hypermarkets and Online), by
End User (Food Products Manufactures, Hotels and Restaurants, Street Food and Hawkers and
Residential), by Type of Cooking Oil (Palm Oil, Coconut Oil, Soybean Oil, Canola Oil, Corn Oil and
Others), Company Profile of Major Players including Malabon Soap And Oil Industrial, San Pablo
MGF Corp, Marca Leon, Magic Fry, International Oil Factory, UFC Philippines, AD Gothong
Manufacturing Corporation, Fly Ace Corporation)
The Philippines Cooking Oil market has seen number of international brands entering the
market. However, the local brands still dominate the industry
Philippines Cooking Oil market has shown an impressive growth rate over the past five years
owing to growth in number of households, enhancing food processing sector, rapid rise in
tourism and hospitality sector.
Coconut oil is being replaced by palm oil in terms of domestic consumption. Canola oil and
soybean oil are the upcoming cooking oils in Philippines
The future for Philippines Cooking Oil industry is compelling with anticipated future CAGR of
9.7% from 2016-2021. The Philippines Cooking Oil market will be driven by rising population,
changing lifestyles, expanding tourism and anticipated hospitality boom. The market is
expected to witness growing preference for healthier oils such as Canola oil as the health
conscious people in the country incline in future.
There is a positive outlook in the retail category where supermarkets are gradually eating up
the market share of traditional markets. The increase in the total import of cooking oil will also
fuel the cooking oil market in Philippines. The increasing tourism in Luzon, Western Visayas and
Mindanao will further uplift the number of hotel chains and restaurants sector in the country.
The rising hotel chains & restaurants will boost the demand for cooking oil in the country.
The Cargill Oil Mills plans to develop coconut farming industry in the Rural Philippines which
will improve the cooking oil market in the period 2017-2019 as the ageing coconut trees in the
country will be replaced leading to better productivity. The major growth in the Philippines
food manufacturing industry in the period 2019-2021 will aid Philippines cooking oil market.
Moreover, Philippines cooking oil consumption patterns are expected to further shift from
using coconut oil to palm oil on account of the anticipated future price fluctuation in the
coconut oil prices. Furthermore, it is also anticipated that Philippines will become the 5th
largest supermarket industry in the world. The growth of supermarket industry will further