The Filipino bakery & cereals sector is projected to decline from ₱89.1bn (US$1.7bn) in 2019 to ₱80.4bn (US$1.5bn) in 2024 at a declining compound annual growth rate (CAGR) of 2%, says GlobalData, a leading data and analytics company.
GlobalData’s report, ‘Philippines Bakery & Cereals – Market Assessment and Forecasts to 2024’ reveals that cookies (sweet biscuits) was the largest category in value terms in 2019. However, the bread & rolls category is forecast to register the fastest value growth at a CAGR of 0.1%, during 2019–2024.
Sanchi Agarwal, Consumer Analyst at GlobalData, says: “Rising disposable incomes and increasing urbanization prompted the Filipino consumers to opt for …
Filipino bakery & cereals market to reach US$1.5bn in 2024, says GlobalData
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