Demand for Canola and Blended Oils in Philippines is Expected to Rise in near Future: Ken Research Analysis REQUEST FOR SAMPLE REPORT Buy Now Request For sample Report × Report Title Name Email Designation Phone No Comapny Name Comapny URL Country -- Please Select Your Country -- Afganistan Africa Albania Algeria Andorra Angola Anguilla Antigua and Barbuda Argentina Armenia Aruba Asia Australasia Australia Austria Azerbaijan Bahamas Bahrain Bangladesh Barbados Belarus Belgium Belize Benin Bermuda Bhutan Bolivia Bonaire Bosnia Herzegovina Botswana Brazil BRICS British Virgin Islands Brunei Darussalam Bulgaria Burkina Faso Cambodia Cameroon Canada Cape Verde Cayman Islands Central African Republic Central and South America Chad Chile China Colombia Comoros Congo Costa Rica Cote d'Ivoire Croatia Cuba Curacao Cyprus Czech Republic Denmark Djibouti Dominica Dominican Republic Ecuador Egypt El Salvador Equatorial Guinea Eritrea Estonia Ethiopia Europe European Union Falkland Islands Faroe Islands Fiji Finland France French Guiana French Polynesia Gabon Gambia Georgia Germany Ghana Gibraltar Global Great Britain Greece Greenland Grenada Guadeloupe Guam Guatemala Guerney & Alderney Guinea Guinea-Bissau Guyana Haiti Honduras Hong Kong Hungary Iceland India Indonesia Iran Iraq Ireland Isle of Man Israel Italy Ivory Coast Jamaica Japan Jersey Jordan Kazakhstan Kenya Kiribati Kosovo Kuwait Kyrgyzstan Laos Latvia Lebanon Lesotho Liberia Libyan Arab Jamahiriya Liechtenstein Lithuania Luxembourg Macao Macau Macedonia Madagascar Malawi Malaysia Maldives Mali Malta Man (Island of) Marshall Islands Martinique Mauritania Mauritius Mayotte Mexico Micronesia Middle East Minnesota Moldova Monaco Mongolia Monserrat Montenegro Morocco Morroco Mozambique Myanmar Namibia Nepal Netherlands New Caledonia New Zealand Nicaragua Niger Nigeria Niue North America North Korea Norway Oman Pakistan Palau Palestine Panama Papua New Guinea Paraguay Peru Philippines Poland Portugal Puerto Rico Qatar Reunion Romania Russia Rwanda Saint Helena Saint Lucia Saint Martin Saint Pierre and Miquelon Saint Vincent and the Grenadines Samoa Samoa (American) San Marino Sao Tome and Principe Saudi Arabia Scandinavia Senegal Serbia Seychelles Sierra Leone Singapore Sint Maarten Slovakia Slovenia Solomon (Islands) Somalia South Africa South Korea South Sudan Spain Sri Lanka Sudan Suriname Svalbard and Jan Mayen Islands Swaziland Sweden Switzerland Syria Taiwan Tajikistan Tanzania Thailand Timor Leste Togo Tonga Trinidad and Tobago Tunisia Turkey Turkmenistan Turks and Caicos Islands Uganda Ukraine United Arab Emirates United Kingdom United States Uruguay Uzbekistan Vanuatu Vatican City Venezuela Vietnam Virgin Islands Western Sahara Yemen Zambia Zimbabwe Requirement Submit As of 2016, Philippines is one of the largest exporters of coconuts and coconut oil in the world. However, coconut oil has now become a more export oriented commodity and is used less for domestic consumption purposes. It is gradually being replaced by palm oil in the recent years. The market for cooking oil in Philippines is still at a growing stage as number of brands in the country is less compared to other Asian countries. Moreover, blended oil segment still remains an untapped market in the space. The different type of cooking oil in the Philippines Cooking Oil market include palm oil, coconut oil, soybean oil, canola oil, corn oil and others. The most important reason for the largest share of palm oil is that it is readily available and reasonably priced (average retail price prevailing in Philippines PHP 30.4 per liter in 2016). Philippines have been one of the largest producers of coconut oil globally but its share in the domestic consumption remains lower to 35.3% during 2016. In the past 5 years the average imports of soybean oil has been over 10,000 tons each year. Canola oil is only preferred by high income customers which are extremely health conscious as it is expensive than other oils. The different distribution channels in the market include traditional markets, direct Sale by manufactures/traders & distributors, Supermarkets/hypermarkets and through online websites. The traditional markets in Philippines include the wet markets and sari-sari stores/mom & pop stores. The Luzon region in Philippines has gathered the largest share in terms of total consumption volume of cooking oil. The major reason behind this has been that this region comprises of highest number of hotels, guest houses and households in Philippines. In the observed period 2011-2016, there has been a shift in preference from the use of coconut oil to palm oil in the country. The major reason for the shift in the preference is that the coconut has been subject to large scale fluctuation in its prices while the price fluctuations in the palm are comparatively less. Moreover, it has also been observed in the recent years that the share for the traditional markets seems to be declining as the supermarkets emerge as the go-to places instead of these traditional markets. The main reason for this change in trend is the strict government regulations against adulteration. Another trend that has been observed in this market is the increase in the number of health conscious consumers and growth in the awareness about food contents with trans-fats, partially hydrogenated oils (PHOs), and cholesterol that are responsible for various chronic diseases. The major organized players include Minola, Golden Fiesta, Baguio, Marca Leon and others. The organized players face tough competition from the unorganized market entities selling products at cheap prices. These organized players compete majorly on the basis of price, packaging and types of products offered. The expected increase in the demand for cooking oil will be on account of the amplifying number of households in the country. The total number of households are expected to increase from 24.1 Million 2017 to 25.4 million in 2019. The major growth in the Philippines food manufacturing industry in the period 2019-2021 will increase Philippines cooking oil market. The food manufacturing industry is estimated to grow from USD 33,985.3 Million in 2019 to USD 42,951.8 Million in 2021. For more information on the market research report please refer to the below link: https://www.kenresearch.com/food-beverage-and-tobacco/general-food/philippines-cooking-oil-market/142317-11.html Related Reports by Ken Research: https://www.kenresearch.com/food-beverage-and-tobacco/non-alcoholic-beverages/india-packaged-fruit-drinks-market-research-report/643-11.html https://www.kenresearch.com/food-beverage-and-tobacco/non-alcoholic-beverages/japan-energy-and-sports-drink-market-research-report/432-11.html https://www.kenresearch.com/food-beverage-and-tobacco/dairy-products/uganda-dairy-market-report/60307-11.html Contact Us: Ken Research Ankur Gupta, Head Marketing & Communications Ankur@kenresearch.com 0124-4230204 Tags: Baguio Oil Coconut Oil Philippines, Best Selling Cooking Oil Philippines, Canola Oil Future Sales Philippines, Canola Oil Sales in Philippines, Coconut Oil Refinery Set up Philippines, Commercial Cooking Oil Sales Philippines, Competition Cooking Oil Philippines, Cooking Oil Market in Philippines, Corn Oil Export from Philippines, Corn Oil Market Consumption Philippines, Edible Oil Market Philippines, Export Coconut Oil Philippines, Golden Fiesta Production Capacity Philippines, Import Volume Cooking Oil Market, Magic Fry Cooking Oil Philippines, Marca Leon Market Share Philippines, Minola Cooking Oil Revenue Philippines, Palm Oil Consumption Philippines, Philippines Cooking Oil Market Size, Philippines Palm Oil Future, Retail sales Cooking Oil Philippines, Soybean Oil Exports Philippines, Spring Cooking Oil Brand Philippines, Trends Edible Oil Philippines, Trends Soyabean Oil Market Philippines, Value Chain Philippines Cooking Oil Market, Wet Market Sales Edible Oil