By BusinessWorld
The Philippine food retailing industry is expected to grow 7% this year as modern retail outlets continue to expand, according to the US Department of Agriculture (USDA).
Retailers are expanding into rural areas and introducing new food and beverages options, the USDA Foreign Agriculture Service in Manila said in a note to US exporters.
“Some retailers feature promotions of imported products to attract consumers, while others offer private-label products to deliver value for money to price-sensitive consumers.”
“Retail chains of supermarkets, hypermarkets, convenience stores, and warehouse clubs continue expanding in key cities and rural areas, further contributing to food retail sales growth,” it added.
The USDA said the food retail sector provide export opportunities for fruit and vegetable juices, tree nuts, beef, pork and poultry cuts, milk, butter, cheddar, mozzarella, cream cheese, ice cream, and soy milk.
It also cited chewing gum and candy, chocolate, tomato sauces, sausages, hotdogs, luncheon meat, meat loaf, pasta, seasoning, tomato ketchup, raisins, peas, beans, kidney beans, garlic, onions, potatoes, mushroom, cereals, bakery goods, frozen fruit and vegetables, beverages, and pet food.
The report noted that retail stores sell industrial quantities of ingredients for use by restaurants, hotels, and caterers, including dairy products, condiments, sauces, seasonings, and juices.
Popular US brands sold in warehouse clubs and supermarkets have high brand recognition and higher sales compared to competitors, the USDA said.
On the other hand, the report noted that retail chains continue to charge high fees to carry new products or feature products in promotions.
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