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Food service sales seen to reach $14B
The Philippine Star
|December 27, 2024
Food service sales in the country would expand at a double-digit pace next year, surpassing pre-pandemic levels to over $14 billion, driven by industry expansion as more Filipinos are expected to dine out amid a better inflation climate.
The US Department of Agriculture-Foreign Agricultural Service in Manila (USDA-FAS) projected that food service sales nationwide in 2025 would rise by 11 percent to $14.58 billion from $13.13 billion this year.
The latest forecast is even higher than the $14.15 billion recorded sales by the food service industry in 2019, before the COVID-19 pandemic hit.
"FAS Manila sees food service sales increasing in hotels, restaurants, and institutions in 2025," the international agency said in a report.
"As food service chains open more outlets and generate higher sales, the food service industry flourishes amidst back-to-normal consumer spending and lower inflation," it added.
This story is from the December 27, 2024 edition of The Philippine Star.
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