The United States Department of Agriculture (USDA) anticipates a 10% increase in food service sales in the Philippines in 2024, surpassing pre-pandemic levels due to recovering tourism and growing consumer numbers. The USDA's Global Agricultural Information Network report forecasts consumer food service sales to reach $14.045 billion, up from $12.768 billion in 2023. Limited-service restaurants, street kiosks, and coffee stores are expanding, creating opportunities for imported ingredients, especially chicken leg quarters. Online deliveries are on the rise, and the food and beverage manufacturing sector is expected to grow, with strong opportunities for wheat, soybeans, dairy products, meat, poultry, and processed vegetables. The Philippines is highlighted as one of the world's fastest-growing markets, providing export opportunities for US food and beverage products. In 2022, US agricultural exports to the Philippines reached a record $3.56 billion, with further prospects in 2023.
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Philippines