Philippines Cooking Oil Market is expected to be driven by Rising Number of Hotels and Restaurants and Growing Health Conscious Population: Ken Research

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Philippines Cooking Oil Market is expected to be
driven by Rising Number of Hotels and Restaurants
and Growing Health Conscious Population Ken
Research
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Rising number of households, growing hospitality
sector, and enhancing food products manufacturing
sector have aided the demand for cooking oil in
Philippines. Ken Research in its latest study,
Philippines Cooking Oil Market by Type (Palm,
Coconut, Soyabean, Canola, Corn and Others), by
Region (Luzon, Visayas and Mindanao) - Outlook to
2021 suggests that the Philippines cooking oil
market is expected to grow at a robust CAGR on
the back of the growth of food manufacturing
industry which is expected to reach USD 42
billion by 2021.
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• As of 2016, the Philippines are one of the
  largest exporters of coconuts and coconut oil in
  the world. However, coconut oil has now become a
  more export oriented commodity and is used less
  for domestic consumption purposes. It is
  gradually being replaced by palm oil in the
  recent years. In the observed period 2011-2016,
  there has been a shift in preference from the use
  of coconut oil to palm oil in the country. The
  major reason for the shift in the preference is
  that the coconut has been subject to large scale
  fluctuation in its prices while the price
  fluctuations in the palm are comparatively less.
  Moreover, palm oil is considerably cheaper
  compared to coconut oil.
• Over the past years, traditional markets
  including wet markets have dominated the sales of
  cooking oil in Philippines. But over the past
  five years the share for these traditional
  markets seems declining as the supermarkets
  emerge as the go-to places instead of these
  traditional markets. The main reason for this
  change in trend is the

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• strict government regulations against
  adulteration. The traditional markets sell
  products which are often adulterated with used
  oils and not of the desired quality. Moreover,
  these markets remain very dirty and there is an
  issue of contamination thus these traditional
  markets are losing the market share due to the
  strict government regulations. The government has
  also banned the sale of used oil which further
  discourages the existence of wet markets and
  sari-sari stores. Major retail outlets such as
  Seven-Eleven have been increasing their number of
  outlets at a rapid pace which has considerably
  affected the share of traditional markets in the
  sales of cooking oil.
• Furthermore, an increasing number of health
  conscious consumers in the age bracket 25-45
  years combined with growing awareness about food
  contents with trans-fats, partially hydrogenated
  oils (PHOs), and cholesterol that are responsible
  for various chronic diseases are factors that
  have been fueling demand for cooking oils in
  Philippines.

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• The cooking oil manufacturers are adapting new
  processing technique such as cold pressing and
  new edible oils products are introduced in the
  market, which are healthier and have a balanced
  fatty acid profile. This makes them preferred
  choice of health conscious consumers, in turn
  driving demand for such products. Also, the rise
  in health conscious customers in the year 2016
  has developed consumer preferences for
  health-friendly cooking oils such as olive oil,
  canola oil and palm oil.
• The cooking oil manufacturing companies in the
  country should encourage tie-ups with the major
  chips, snacks and biscuit manufacturers including
  Jack n Jill, WL foods, Irvins and others to
  uplift their cooking oil sale. The large scale
  tourism in the Luzon and Western Visayas region
  has increased the number of hotel chains in the
  country. The cooking oil manufacturers should
  encourage their tie-up with these hotel chains
  and restaurants as they purchase cooking

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• oil in bulk quantities ranging between 15-17 Kilo
  Tins. Moreover, in order to capture such
  customers these manufacturers can provide a 5-6
  discount on bulk purchases and easier payment
  terms with better packaging.
• Key Topics Covered in the Report
• Export Coconut Oil Philippines
• Soybean Oil Exports Philippines
• Cooking Oil Market in Philippines
• Palm Oil Consumption Philippines
• Import Volume Cooking Oil Market
• Best Selling Cooking Oil Philippines
• Philippines Palm Oil Future
• Canola Oil Sales in Philippines
• Baguio Oil Coconut Oil Philippines
• Spring Cooking Oil Brand Philippines
• Coconut Oil Refinery Set up Philippines

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• For more information on the research report,
  refer to below link
• https//www.kenresearch.com/food-beverage-and-toba
  cco/general-food/philippines-cooking-oil-market/14
  2317-11.html
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Contact Ken Research Ankur Gupta, Head
Marketing Communications sales_at_kenresearch.com
91-124-4230204