Philippines Candy Market (2023-2029) | Growth, Trends, Size, Segmentation, Industry, Share, Value, Analysis, Revenue, Outlook & COVID-19 IMPACT

Philippines Candy Market Synopsis 

Philippines Candy Market is set to witness a robust growth during the forecast period owing to changing consumer preferences, rising disposable incomes, and rapid urbanization in the country. Also, the presence of many local players has also been contributory in driving demand for candy products over the years. The Philippines candy market is highly competitive with many local and international players vying for market share. The competition is intense and companies are constantly innovating to stay ahead of the competition. 

According to 6Wresearch, the Philippines Candy Market is anticipated to grow at a higher growth rate during the 2023-2029. The key factors proliferating the market expansion include the country’s young and growing population. The Philippines has a burgeoning middle class with more disposable income, enabling individuals to indulge themselves in sweet tooth with higher-quality or premium candy products. However, low barriers to entry, high degree of competition, and a relatively small domestic market hinders Philippines Candy Market Growth to a great extent. The Philippine candy market is highly fragmented with numerous local and international players. The population of the Philippines is growing at steady pace, making it a large potential market for candy companies. In general, the individuals living in Philippines have a sweet tooth and love to eat sweets. There is also potential to expand into new channels such as convenience stores and gas stations. The availability of a wide range of products is another factor driving the growth of the Philippines candy market size. 

COVID-19 influence on the Philippines Candy Market

Due to the COVID-19 pandemic, many industries including the candy industry in the Philippines has got adversely impacted, leading to changes in consumer behavior, supply chains, and the overall economy. The candy market has seen a decrease in a decrease in demand due to reduced purchasing power of consumers. With the economic downturn caused by the pandemic, many individuals have had to prioritize essential needs over non-essential items like candy. Furthermore, the pandemic has disrupted the supply chains of the candy industry. This has led to increased costs and delays in production, further affecting the profitability of the market.

Market Analysis by Product Type

Based on product type, the chocolate candy are the most popular type of candy in the Philippines and accounting for a significant share of the market. 

Market Analysis by Distribution Channels

According to Dhaval, Research Head, 6Wresearch, the supermarkets/hypermarkets segment dominates the Philippines candy market share as they offer a wide range of products and brands. Convenience stores are also gaining popularity due to their convenience and accessibility. 

Key attractiveness of the report

• COVID-19 Impact on the Market.
• 10 Years Market Numbers.
• Historical Data Starting from 2019 to 2022.
• Base Year: 2022.
• Forecast Data until 2029.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report:

• Philippines Candy Market Outlook
• Market Size of Philippines Candy Market, 2022
• Forecast of Philippines Candy Market, 2029
• Historical Data and Forecast of Philippines Candy Revenues & Volume for the Period 2019 - 2029
• Philippines Candy Market Trend Evolution
• Philippines Candy Market Drivers and Challenges
• Philippines Candy Price Trends
• Philippines Candy Porter's Five Forces
• Philippines Candy Industry Life Cycle
• Historical Data and Forecast of Philippines Candy Market Revenues & Volume By Product Type for the Period 2019 - 2029
• Historical Data and Forecast of Philippines Candy Market Revenues & Volume By Chocolate Candy for the Period 2019 - 2029
• Historical Data and Forecast of Philippines Candy Market Revenues & Volume By Non-Chocolate Candy for the Period 2019 - 2029
• Historical Data and Forecast of Philippines Candy Market Revenues & Volume By Distribution for the Period 2019 - 2029
• Historical Data and Forecast of Philippines Candy Market Revenues & Volume By Supermarkets and Hypermarkets for the Period 2019 - 2029
• Historical Data and Forecast of Philippines Candy Market Revenues & Volume By Convenience Stores for the Period 2019 - 2029
• Historical Data and Forecast of Philippines Candy Market Revenues & Volume By Specalist Retailers for the Period 2019 - 2029
• Historical Data and Forecast of Philippines Candy Market Revenues & Volume By Online Retail for the Period 2019 - 2029
• Historical Data and Forecast of Philippines Candy Market Revenues & Volume By Others for the Period 2019 - 2029
• Philippines Candy Import Export Trade Statistics
• Market Opportunity Assessment By Product Type
• Market Opportunity Assessment By Distribution
• Philippines Candy Top Companies Market Share
• Philippines Candy Competitive Benchmarking By Technical and Operational Parameters
• Philippines Candy Company Profiles
• Philippines Candy Key Strategic Recommendations

Market Covered

The report offers a comprehensive study of the subsequent market segments:

By Product Type 

• Chocolate Candy
• Non-Chocolate Candy

By Distribution 

• Supermarkets And Hypermarkets
• Convenience Stores
• Specialist Retailers
• Online Retail
• Others