Fast Food in the Philippines - New Study Released

Combining two food items to create a hybrid, a trend popularised by cronuts, a cross between a croissant and doughnut, found its way into other fast food categories in the Philippines towards the end of the review period. Jollibee, for instance, introduced its pancake sandwich in 2014, which involves pancakes being used in place of buns to create breakfast sandwiches. McDonald’s also has its own version of pancake sandwiches called McGriddles, which were sold in selected branches for a limited time during 2014. Wendy’s, meanwhile, combined a pretzel and burger to create the pretzel bacon cheeseburger and KFC has its double down dog in which chicken fillets are used in place of buns to create a hotdog sandwich. American brand Project Pie, meanwhile, made customisation so popular that other brands followed suit in introducing a similar concept including Burger Project and Mad for Pizza.

Full Report Details at
- http://www.fastmr.com/prod/1036385_fast_food_philippines.aspx?afid=301

Competitive Landscape

Various franchisees remain the largest presence in fast food in 2014 with a combined value share of 34%. Among the owners of chained brands, Jollibee Foods Corp maintained its lead in 2014 with a value share of 31%. Jollibee’s leadership stems from its wide brand portfolio composed of Jollibee, Mang Inasal, Chowking, Greenwich, Red Ribbon and Burger King. Furthermore, with the exception of Burger King, all of its brands are leaders in their respective categories. Its different brands are highly patronised by consumers as their product offerings are tailored to suit the local taste preferences. These brands also continuously offer new menu items and are adequately promoted, which allows them to sustain consumer loyalty to their brands.

Industry Prospects

Fast food is expected to increase in value at a CAGR of 3% at constant 2014 prices over the forecast period, which is a slower rate of growth than the value CAGR of 5% recorded at constant 2014 prices over the review period. The slowdown in growth is indicative of the category’s maturity, which limits its prospects for sustained increases in growth rates. Another factor is the Philippines’ growing middle class, many of whom are likely to trade up to affordable full-service restaurants at the expense of fast food. Sales per outlet, however, are expected to improve over the forecast period, rising at a marginally positive CAGR at constant 2014 prices. Although low, this is better than the -1% CAGR recorded in this measure or over the review period. This improvement is set to be driven partly by the entry of foreign brands. Stiffer competition, meanwhile, is likely to result in the creation of more premium offerings, which is also set to boost sales per outlet in fast food over the forecast period.

Report Overview

About Fast Market Research

Fast Market Research is a leading distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff is always available to help you find the right research to fit your requirements and your budget.

For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156 (1.413.485.7001 Int'l)

You may also be interested in these related reports:

- Fast Food in Turkey
- Fast Food in France
- Fast Food in Egypt
- Fast Food in Ukraine
- Fast Food in Japan