Philippines Canned Food Market Size, Share, Opportunities, And Trends By Type (Canned Fish/Seafood, Canned Meat Products, Canned Vegetables, Canned Fruits, Other Canned Foods), By Distribution Channel (Online, Offline (Supermarkets/Hypermarkets, Convenience Stores, Others)), And By Province - Forecasts From 2023 To 2028

The Philippines canned food market is projected to witness a compound annual growth rate of 8.37% to grow to US$2,401.084 million by 2028, from US$1,367.954 million in 2021.

Canned food refers to food that is semi-prepared or prepared and is stored in cans with the help of preservatives or other chemicals, to be consumed on the opening of the tin or lead.

Growth Drivers of the market

The rising disposable income and growing urbanization are driving the canned food market in the Philippines.  In addition, the growing urban population, especially the age group between 16 to 30 years are reliant on canned food owing to busy work schedule and convenience. The rapid expansion of the offline and online grocery retail sector has further aided market growth. According to the USDA Report called “Retail Foods” in July 2021, the food and beverage retail sales in the country were expected to witness a 10 percent growth in 2021. Furthermore, as per the report, hypermarkets hold 13% of the market share for food sales, whereas supermarkets lead the industry by having 42% market share.

Further, the capacity of households to store frozen canned meals has been increasing, according to a USDA report from May 2021 titled "Shelf-Stable and Frozen Ready Meals Market Brief." A refrigerator was owned by 45 percent of households in 2020, an increase of 11%, over the previous five years. Additionally, the US Department of Agriculture estimates that the Philippines' seafood supply was worth $970 million in 2021. The demand for canned fish meals, notably tuna and sardines, is rising in the Philippines.

This is expected to aid the growth of the canned food market in the Philippines. Straight-from-the-box food has gained prevalence in the country. Rising imports from the United States and other countries have increased the country’s domestic consumption and have created an opportunity for local players by employing thousands of people in the canned food sector, propelling the local economy.

Growing Working Population And Hectic Lifestyle

The demand for ready-to-eat foods including canned foods is expected to surge in the coming years owing to the changing consumption preference of consumers toward time-saving and easy-to-prepare foods attributed to their busy work schedules.

According to the Commission on Population and Development (POPCOM), the working-age population, of Filipinos between 15 and 64 years old, experienced the largest increase among population categories in 2021. The country's population is altering in terms of its age distribution as a result of the rise in the working-age population. The demand for canned food in the Philippines is most likely to be influenced by the growing working-class population in the country.

The Philippines Statistics Authority reports that of 75.30 million people in the country who are 15 years of age and older, 47.70 million were in the labor force as per preliminary results of the 2021 Annual Labor Market Statistics. The total number of people who were employed in 2021 was 43.99 million. Out of the 47.70 million Filipinos that were in the labor force, this represented 92.2 percent were employed or had a job. The working population having less time to cook and yet demanding a fulfilling meal will be pumping the overall consumption of canned food in the nation. Increasing innovation in the area of organic food will fuel the market during the forecast period.

Growing Popularity Of Ready-To-Eat Seafood Products

The growing popularity of ready-to-eat seafood products with improvement in distribution infrastructure is expected to drive the segment’s growth during the forecast period. The canned seafood market is expanding due to increased awareness of the health benefits provided by canned seafood products. It contains a high concentration of beneficial omega-3 fatty acids, which are essential for overall health and well-being. Furthermore, increased participation in the country through new product launches and investments is expected to boost the canned food market in the coming years.

Rising Imports Of Seafood Products

The rising imports of seafood products like fish and related products in the country is another determinant in pushing the overall canned fish/seafood segment in the country. For instance, as per the Philippine Fisheries Profile 2021 Report by the Bureau of Fisheries and Aquatic Resources, the import volume of fish and fish products to the Philippines increased from 405,570 metric tons in 2020 to 533,240 metric tons in 2021. In addition, the CIF value also increased from US$592.370 million to US$746.450 million during the same period.

Furthermore, the source also added that Filipinos consume fish and fishery products the most after rice products which constitutes 11.68% of the total food intake and amounts to 93.90 grams per day which is 63% higher than meat and meat products and 205.86% higher than poultry.

The major consumption of seafood as compared to other kinds of foods is another factor behind the overall sales and market growth of canned fish/seafood segment in the country.

The effectiveness of the online sales channel in the Philippines

Distribution of canned food products through e-commerce channels has increased as a result of consumers' busy schedules and preferences for convenient lifestyles. Increasing health concerns are leading consumers to spend more on organic food products, which offers opportunities for manufacturers of organic canned food products.

Manufacturers provide canned food products that combine high quality, taste, and nutritional value to maintain their position in the competitive market and these products are easily available in online retail stores. According to the International Trade Administration, 73 million monthly active users contributed significantly to the $17 billion e-commerce industry sales in the Philippines in 2021.  Through 2025, this is anticipated to expand at a 17% annual rate to reach $24 billion.

More Filipinos are working from home and shopping online after the COVID-19 epidemic which is fueling the sales of canned food through online stores in the Philippines. Many online platforms sell goods from Asia-Pacific nations that have free trade agreements with the Philippines, and the most popular product category is food and beverage, especially canned foods. 

Key Developments

• In March 2021, The Pacific Pork Company was purchased by Century Pacific Food, a Philippines-based producer of canned fish, pork, and dairy products, for PHP650m (US$13.3m). In the Philippines, Century Pacific Food sells a variety of goods, including Century tuna flakes. The product comes in tuna with calamari, tuna with hot and spicy sauce, and tuna with vegetable oil.
• In January 2022, Century Pacific Food (CNPF), the Philippines' leading tuna canner, has acquired Ligo, a local legacy brand of canned sardines and other marine products. Ligo is one of the most well-known sardine brands in the Philippines, having been in business for over 60 years. Its shelf-stable sardines are popular among locals due to their high protein and calcium content.

Philippines Canned Food Market Scope:

Segmentation:

• By Type
  • Canned Fish/Seafood
  • Canned Meat Products
  • Canned Vegetables
  • Canned Fruits
  • Other Canned Foods
• By Distribution Channel
  • Online
  • Offline
    • Supermarkets/Hypermarketss
    • Convenience Stores
    • Others
• By Province
  • Palawan
  • Isabela
  • Cebu
  • Metro Manila
  • Others