Philippines Quick Services Restaurant Market

Product Overview Quick service restaurants are also termed as fast-food restaurants. This type of restaurant aims at fast food service and regulated table service. Take away or take-out possibilities are also provided. The food is usually cooked in mass volume ahead of time and kept warm until supplied. Quick service restaurants are time and again a part of a restaurant chain such as McDonald's or KFC. The food is usually manufactured and served in bags or cartons. The food is normally cooked at a central supply facility and then shipped to individual locations where they are prepared rapidly in response to incoming orders. Pre-cooked items are thoroughly supervised for freshness and holding time. The food products need the application of flavors like salt, sugar, and stabilizers. These manufacturing procedures restrict the nutritional value of the food. To improve speedy delivery, several quick-service food restaurants provide a drive-thru. Wireless programs enable orders to be placed thru speakers. Computer systems and software are used to raise proficiency and offer reports to managers and corporate offices. Market Highlights Philippine's quick services restaurant market is expected to exceed USD 7,900 million by 2030 from USD 4,600 million in 2019 at a CAGR of 6.2% throughout the forecast period i.e. 2020-2030. The market is anticipated to grow on the back of rising food imports from the United States. The impact of westernization amongst the ultimate customers, the increase in the per-capita income, and the rise in many millennial populations have been some of the primary significant aspects that help fuel the overall growth of the foodservice sector in terms of value sales. Among the foodservice sectors, the quick-service restaurants have been experiencing a greater degree of value supply growth owing to a rise in demand for distinct categories of fast food products. Philippines Quick Services Restaurant Market Opportunity Analysis Philippines Quick Services Restaurant Market: Segments The Burger/Sandwich segment to grow with the fastest CAGR of xx% during 2020-2030 Philippines ' quick services restaurant market is segmented by Food Type into Burger/Sandwich, Pizza/Pasta, Chicken, Seafood, and Others. Among these, the burger/sandwich segment is estimated to hold the largest market share of xx% in 2019, based on the increase in demand for products from reputed fast food joints, such as McDonald’s and Burger King. Other than these international brands, various key regional brands, such as the Lusso, The Burger Joint, 8 Cuts Burgers, and Zak’s Burgers are acquiring recognition in the market. By Food Type (in %), Philippines Quick Services Restaurant Market, 2019 Philippines Quick Services Restaurant Market The Franchised segment to boost at fastest CAGR of xx% during 2020-2030 Philippines ' quick services restaurant market is segmented by Network Type into Franchised and Independent. Among these, the franchised segment is witnessed to hold the largest market share of xx% in the year 2019, owing to the segment having relatively bigger customer support, which is reliable to its brand and product contributions. Such franchised quick-service restaurants have the distinctive characteristic that is used for advertising activities as well as for supplying their products. By network Type (in %), Philippines Quick Services Restaurant Market, 2019 Philippines Quick Services Restaurant Market The American Cuisine segment to boost at fastest CAGR of xx% during 2020-2030 Philippines ' quick services restaurant market is segmented by Cuisine Type into American Cuisine, Turkish Cuisine, and Lebanese Cuisine. Among these, the American cuisine segment is witnessed to hold the largest market share of xx% in the year 2019. The segment comprises of restaurants offering a range of burgers, pop-corns, fries, frozen dairy desserts, wraps, doughnuts, toasts, nuggets, sandwiches, sliders, coleslaw, potato wedges, chicken fries, corn dogs, chicken fingers, cinnamon rolls, biscuits, cakes, muffins, and sweet flavored drinks. The manufacturing procedure, fast-paced lifestyle, expansion of franchises, and smoothness in production are some of the aspects having a vigorous part in broadening the opportunity of American cuisine. Philippines Quick Services Restaurant Market Philippines Quick Services Restaurant Market: Market Dynamics Driver Raised Food Imports from the United States The rising urbanization, varying customer preferences, and millennials' inclination towards eating out have primarily promoted the foodservice segment of the region. Various foreign players are eyeing up on this impending region and maneuvering to fuel the market saturation by raising the exports to the region. Philippines continues to be the biggest market for consumer-oriented food and beverage exports from the U.S. to enhance the foodservice sector. A report circulated by USDA mentioned that products such as Condiments & Sauces, Processed Vegetables, Chocolate & Cocoa Products witnessed a substantial growth rate. Driver Rising Emergence of Independent Restaurants Philippine's foodservice market is largely led by independent restaurants. Nevertheless, franchised restaurants are estimated to upsurge at a rapid pace. Independent restaurants in the Philippines are more alluring to the larger part of customers for its rich preferences of dishes at competitive pricing among the franchised restaurants. Primary restaurants which are independent in the country comprise of Goldlocks, YUM Brands, Pizza Hut, McDonald’s, Max’s Group, and Shakey’s. Pizza Asia Ventures Inc., and are, therefore, a key aspect of profit margin for players, particularly in the foodservice market. The quick-service restaurants and foreign food chains such as McDonald's, Yum are acquiring popularity based on the preferences of the rising millennials. Restraint Increasing Inclination towards Fresh and Natural Food Products For several customers, frozen food is considered to be a product that is an inferior alternative to fresh food, which is one of the primary hindrances for this market. There is a view that food manufactured a year or more before it is consumed could not be healthy. Nevertheless, proclamations such as “frozen food can be just as good as the fresh stuff in terms of nutrition” from the Food and Drug Administration (FDA) and the International Food Information Council (IFIC) about the nutrient content of frozen food are altering the consumer insight. Philippines Quick Services Restaurant Market: Key Players Bon Chon Chicken Philippines Company Overview Business Strategy Key Product Offerings Financial Performance Key Performance Indicators Risk Analysis Recent Development Regional Presence SWOT Analysis YUM Brands Army Navy Philippines Wendy’s Shakey’s Pizza Asia Ventures Inc. McDonald’s 3M Pizza Philippines Jollibbee Chooks-to-go Goldlocks The market report on Philippines quick services restaurant also contains the following in-depth analysis: Quick Services Restaurant Market Segments: By Food Type Burger/Sandwich Pizza/Pasta Chicken Seafood Others By Network Type Franchised Independent By Cuisine Type American Cuisine Turkish Cuisine Lebanese Cuisine Quick Services Restaurant Market Dynamics Quick Services Restaurant Market Size Supply & Demand Current Trends/Issues/Challenges Competition & Companies Involved in the Market Value Chain of the Market Market Drivers and Restraints