Market Insights Consumer Food Dairy Products & Eggs

Milk - Philippines

Philippines

Revenue in the Milk market amounts to €3.10bn in 2024. The market is expected to grow annually by 9.81% (CAGR 2024-2029).
In global comparison, most revenue is generated in India (€66bn in 2024).
In relation to total population figures, per person revenues of €26.02 are generated in 2024.
In the Milk market, volume is expected to amount to 1.80bn kg by 2029. The Milk market is expected to show a volume growth of 5.2% in 2025.
The average volume per person in the Milk market is expected to amount to 11.7kg in 2024.

Key regions: Russia, India, Canada, Japan, South Korea

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Analyst Opinion

The Milk Market in the Philippines is facing subdued growth due to various factors, including limited consumer awareness and rising competition from alternative products. Despite this, the market is expected to experience modest growth driven by increasing demand for dairy products in the country.

Customer preferences: There has been a growing trend of health-conscious consumers in the Philippines, leading to an increase in demand for plant-based milk alternatives. This shift is driven by a growing awareness of the health benefits of plant-based diets and a rise in vegan and vegetarian lifestyles. This also aligns with the cultural preference for natural and traditional food sources in the country. Additionally, the rise of lactose intolerance and dairy allergies among Filipinos has also contributed to the growth of the plant-based milk market in the Philippines.

Trends in the market: In the Philippines, the Milk Market of the Dairy Products & Eggs Market within The Food market is experiencing a growing demand for organic and plant-based milk products. This trend is driven by the increasing health consciousness among consumers and their preference for sustainable and ethical food choices. Market players are responding to this trend by introducing new products and expanding their organic and plant-based milk offerings. This trajectory is expected to continue, with potential implications including a shift towards more environmentally-friendly farming practices and a diversification of products in the market.

Local special circumstances: In the Philippines, the Milk Market of the Dairy Products & Eggs Market within The Food market is influenced by the country's tropical climate and agricultural landscape. The production of dairy products is heavily reliant on imported raw materials, resulting in higher prices for consumers. Additionally, the country's large Catholic population has led to a strong demand for dairy products, particularly during religious holidays and celebrations. These factors contribute to the unique dynamics of the milk market in the Philippines, setting it apart from other markets in the region.

Underlying macroeconomic factors: The Milk Market of the Dairy Products & Eggs Market within The Food market in the Philippines is influenced by various macroeconomic factors. The national economic health of the country plays a crucial role in shaping the market, with factors such as GDP growth, inflation rate, and consumer confidence impacting consumer spending on dairy products. Fiscal policies, such as taxes and subsidies, also have a significant influence on the market. Additionally, global economic trends, such as trade agreements and geopolitical events, can affect the supply and demand of dairy products in the Philippines. Furthermore, factors like population growth and changing dietary preferences also impact the market's performance.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).

Modeling approach:

Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.