Philippines Foodservice Market Size

Philippines Foodservice Market Analysis

The Philippines Foodservice Market size is estimated at 16.12 billion USD in 2024, and is expected to reach 31.47 billion USD by 2029, growing at a CAGR of 14.32% during the forecast period (2024-2029).

Want to share this? Click here to share on social media or embed it on your website.

16.12 Billion

Market Size in 2024 (USD)

31.47 Billion

Market Size in 2029 (USD)

3.31 %

CAGR (2017-2023)

14.32 %

CAGR (2024-2029)

Largest Segment by Foodservice Type

57.63 %

value share, Quick Service Restaurants, 2023

With 50% of the population eating fast food, like burgers and pizzas, at least twice a week and 25% ordering in, online orders are driving the growth in market share of the segment.

Largest Segment by Outlet Type

74.69 %

value share, Independent Outlets, 2023

With an average annual consumption of 3.24 kg of coffee and an expenditure of USD 44 on out-of-home coffee, consumption is driving the growth of independent café outlets.

Fastest-growing segment by Foodservice Type

25.83 %

Projected CAGR, Cloud Kitchen, 2024-2029

By 2021, online food orders were expected to reach 21 million, and more than 1,000 restaurants are using the service; cloud kitchens are gaining popularity in the Philippines.

Fastest-growing segment by Outlet Type

14.43 %

Projected CAGR, Chained Outlets, 2024-2029

QSR chains, such as McDonald's and Jollibee, and local franchises dominate the market, which is primarily driven by the segment's high meat consumption of 29 kg per year.

Leading Market Player

4.19 %

market share, Jollibee Foods Corporation, 2022

The firm runs 17 brands around the nation, including both franchised and company-owned stores, and has prioritized investing hugely in expansion across the nation.

Quick service restaurants held a dominating share in the market owing expansion of franchise outlets and menu innovations

Philippines Foodservice Industry Segmentation

Cafes & Bars, Cloud Kitchen, Full Service Restaurants, Quick Service Restaurants are covered as segments by Foodservice Type. Chained Outlets, Independent Outlets are covered as segments by Outlet. Leisure, Lodging, Retail, Standalone, Travel are covered as segments by Location.

• Quick service restaurants held the largest market share in 2022. The segment is expected to register a CAGR of 15.78% by value during the forecast period. The growth can be attributed to the constant increase in the preference for fast food in the country, which has led to several product launches. Some of the popular quick service restaurants in the Philippines are Jollibee, McDonald’s, Chowking, Greenwich Pizza, and KFC.
• FSRs in the country observed significant growth of 60.64% in sales value from 2020 to 2022. The growth can be attributed to the introduction of vegan, low-sugar, and gluten-free options to traditional Asian dishes by restaurants, owing to the demand for nutritional diets, especially post-pandemic. Asian cuisine, under the FSR segment, held the largest share of the market in 2022, with 42.92%. There is high demand for Japanese cuisines, such as sushi, sashimi, ramen, and donburi, in the country.
• The cloud kitchen segment is the fastest growing among all others and is anticipated to register a CAGR of 26.06% by value during the forecast period. The growth is expected to be aided by increasing online food deliveries through smartphone applications led by platform-to-consumer services, such as Grabfood, Foodpanda, and Pick-A-Roo. The subscriptions to food delivery services, like Grab Food and Foodpanda, increased by 61% in the Philippines in 2020 compared to the previous year. The integration of digital technology enables food delivery services to efficiently accommodate the high volume of orders, which is expected to boost the growth of the segment.