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Marie Kris Rodriguez
Marie Kris Rodriguez
Consultant at Research and Solutions PH
Published Feb 7, 2024
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The Philippine restaurant market has recovered from the pandemic with the move back-to-school and back-to-office, and is now worth Php 643 billion in 2023 and predicted to reach Php 1 trillion by 2027.
Parts of the regions are seen fast growing and expanding, rising in double digits, such as the Bangsamoro Autonomous Region (58% growth in number of establishments in 2021), Central Luzon (38%), Caraga (38%), Western Visayas (32%) and Northern Mindanao (31%). Other regions in Luzon and Visayas such as Central Visayas, Calabarzon and Bicol Region are also growing double digits. The areas are fast expanding because of rapid urbanization, commercial and residential real estate developments, and the relocation of people moving to other cities from the National Capital Region.
Quick service restaurants are still the most popular type of restaurant with Php 367 billion in value and 58% share of the food service market size, thanks to their tested food quality and taste and offer of fast food and convenience. Full service restaurants have 25% share of the food service market estimated at Php 158 billion in 2023. Global trends are continuing to introduce diverse food choices for the Filipino consumer, while Filipino cuisine remains a mainstay in the Filipino diet.
A PESTEL Analysis discovered that the most important trends in the restaurant industry are the globalization of Asian cuisine and the growth of healthy and vegan food. Meanwhile, e-commerce, digital marketing and artificial intelligence, as well as food delivery apps are technological ways restaurants can reach consumers.
The Philippine restaurant scene is a vibrant mix of successful local players and foreign entrants serving the mass of consumers to specialty foodies at very affordable to premium price rates. The local food scene is truly both Filipino and international in offerings and caters to a range of appetites, from well-loved Filipino comfort food to specialty cuisines and dishes by foreign restaurants. The market will continue to see expansion, even for major players Jollibee and Starbucks who are continuing to build new restaurants in other areas. The National Capital Region and other urban areas continue to have a major share of top restaurants while other provinces are growing from the expansion of successful players.
Competitor Map of Philippine Restaurants
To download the full report, request an order through marie.rodriguez@researchandsolutionsph.com.
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8 Comments
Eager to dig deeper into the finding, can I have a copy? <3
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Arian Bernadette Talag
Sales and Brand marketing marketer that exemplifies in retail and food service industry.
2mo
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Hi! I'm interested to get a copy of this full report. May I know how to access this? :)
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Marlon Plazo
Insights Professional; working towards making food that is better for people and planet.
4mo
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Omg, cue the cravings. My wife and I looked at the logo map and realized we ate in 80% of establishments…
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James Pagasa Latiph
I help solve complex legal problems | Impulsive Innovator|Trial Lawyer | I am Atty. Jamal Hadjiusman
4mo
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The future tastes good!
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John Caro
Chief Marketing Officer | Director | Angel Investor |* FMCG * Electronics* QSR * Sports* Luxury
4mo
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Would love to get my hands on this!
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