Retail market size in the Philippines to increase by USD 70.67 billion between 2021 and 2026; Amazon.com Inc., Cosco Capital Inc., among others identified as key vendors - Technavio

NEW YORK, March 14, 2023 /PRNewswire/ -- The retail market size in the Philippines is forecast to grow by USD 70.67 billion between 2021 and 2026, and the growth momentum will be accelerating at a CAGR of 11.68% during the forecast period. The market is segmented by product (food and beverages, personal and household care, apparel and footwear, electrical and electronics, and others) and distribution channel (offline and online). The market will observe significant growth in the food and beverages segment during the forecast period. The increasing interest of consumers in imported goods, especially processed foods is the key factor driving the growth of the segment. The rise in purchasing power is another factor driving the growth of the segment. Some of the key vendors covered in the report include Amazon.com Inc., Cosco Capital Inc., Fast Retailing Co. Ltd., Mercury Drug Corp., Metro Retail Stores Group Inc., New City Commercial Corp, Robinsons Retail Holding Inc., Seven and I Holdings Co. Ltd., SM Investments Corp, and SSI Group Inc. For more insights on the market size (2022 to 2026) – Request a report sample

Company Profiles

The retail market report includes information on the key products and recent developments of leading vendors, including:

• Amazon.com Inc. - The company operates retail business through e-commerce and others.
• Cosco Capital Inc. - The company operates a retail business through its subsidiary, Puregold Price Club Inc.
• Fast Retailing Co. Ltd. - The company operates a retail business through supermarkets, department stores, and others.
• Mercury Drug Corp. - The company operates retail businesses such as online and offline stores.

Market Dynamics

The growth of the market is driven by factors such as the growing demand for convenience food products, the growing popularity of private-label brands, and the rising prominence of in-store bakeries in supermarkets. However, the threat of counterfeit products will hinder the growth of the market.

Major Drivers: - Growing demand for convenience food products is considered one of the key market drivers. Convenience food products require minimal preparation before consumption, and it is a type of processed and ready-to-eat food. 

The growing number of working women and their hectic schedules are increasing the popularity of convenience food products including processed meat and poultry products. As it takes lesser time to prepare in comparison with home-cooked food. 

The men and women are working due to this, they find lesser time to do household chores. Such a condition has further led to a decreased preference for traditional cooking methods and increased consumer preferences for convenience food products. This has also boosted outside eating habits. 

Hence, such factors are expected to increase the demand for convenience meat and poultry products, that are nutrition-rich as well. It is further giving a boost to the retail market growth. 

The retail market in the Philippines is witnessing a major threat from ingenuine products which are easily available in the market. Such availability of fake and ingenuine products is majorly affecting the sales of key retailers and also negatively affecting the brand image of genuine manufacturers. Therefore, the easy availability of fake and ingenuine products will likely badly affect the market growth during the forecast period. For more insights on market dynamics - Download a Sample

Competitive Analysis

The competitive scenario categorizes companies based on various performance indicators. Some of the factors considered include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, and growth in market share among others. Request a Sample

Market Segmentation

• By product, the market is segmented into food and beverages, personal and household care, apparel and footwear, electrical and electronics, and others.
• By distribution channel, the market is segmented into offline and online.

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Related Reports:

• The retail market size in Indonesia is expected to increase by USD 44.13 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 4.6%. The market is segmented by product (food and beverages, electrical and electronics, apparel and footwear, home improvement and household products, and Others) and distribution channel (Offline and Online).
• The retail market size in Mexico is expected to increase by USD 97.29 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 5.48%. The market is segmented by product (PAT, personal and household care, AFA, electrical and electronics, and others) and distribution channel (offline and online).

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What are the key data covered in this retail market in the Philippines report?

• CAGR of the market during the forecast period.
• Detailed information on factors that will drive the growth of the market between 2022 and 2026
• Precise estimation of the size of the retail market in the Philippines and its contribution to the parent market.
• Accurate predictions about upcoming trends and changes in consumer behavior.
• Growth of the market across the Philippines.
• A thorough analysis of the market's competitive landscape and detailed information about vendors.
• Comprehensive analysis of factors that will challenge the growth of retail market vendors in the Philippines. 

Executive Summary

Market Landscape

• Market ecosystem
• Value chain analysis

Market Sizing

• Market definition
• Market segment analysis
• Market size 2021
• Market outlook: Forecast for 2021 - 2026

Five Forces Analysis

• Five forces summary
• Bargaining power of buyers
• Bargaining power of suppliers
• Threat of new entrants
• Threat of substitutes
• Threat of rivalry
• Market condition

Market Segmentation by Product

• Market segments
• Comparison by Product
• Food and beverages - Market size and forecast 2021-2026
• Personal and household care - Market size and forecast 2021-2026
• Apparel and footwear - Market size and forecast 2021-2026
• Electrical and electronics - Market size and forecast 2021-2026
• Others - Market size and forecast 2021-2026
• Market opportunity by Product

Market Segmentation by Distribution channel

• Market segments
• Comparison by Distribution channel
• Offline - Market size and forecast 2021-2026
• Online - Market size and forecast 2021-2026
• Market opportunity by Distribution channel

Customer landscape

• Market drivers
• Market challenges
• Market trends

Vendor Landscape

• Vendor landscape
• Landscape disruption

Vendor Analysis

• Vendors covered
• Market positioning of vendors
• Amazon.com Inc.
• Cosco Capital Inc.
• Fast Retailing Co. Ltd.
• Mercury Drug Corp.
• Metro Retail Stores Group Inc.
• New City Commercial Corp
• Robinsons Retail Holding Inc.
• Seven and i Holdings Co. Ltd.
• SM Investments Corp
• SSI Group Inc.

Appendix

• Scope of the report
• Currency conversion rates for US$
• Research methodology
• List of abbreviations

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SOURCE Technavio