Philippines: Food Service - Hotel Restaurant Institutional
Link to report:
While the Philippine food service sector was set to grow eight-plus percent in 2020 to $16 billion, COVID-19 related measures have reduced prospects to less than $7 billion. Food establishments that have attempted to re-open have been forced to adapt to changes in regulatory requirements and consumer preferences while importers have been forced to create new sales channels to offset lost sales. Meanwhile, despite increasing competition and an expectedly less brilliant peak consumption outlook this 2020 holiday season, U.S. consumer-oriented agricultural exports to the Philippines remain on track to set a new record, $1.15 billion, by the year-end.
