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Philippines Quick Service Restaurants Market in Emerging Economies will witness a CAGR of 6.9% through 2026

04-13-2020 01:43 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Allied Market Research

Philippines Quick Service Restaurants Market

Philippines Quick Service Restaurants Market

AMR team is working exclusively on COVID-19 impact on various Quick Service Restaurants Market . The COVID-19 update is in progress and our research team is doing primary research activity to find out the revised growth curve of across all the industries at country level. Conducting an exclusive study keeping COVID-19 in mind would help client to interpret the economic impact in near-terms of and long term future. AMR research team is also tracking the changing dynamics of Quick Service Restaurants Market industry along with its immediate impact on the market.

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Quick Service Restaurants Market by Food Type, and Nature: Philippines Opportunity Analysis and Industry Forecast, 2019-2026," The Philippines quick service restaurants market size was valued at $4.6 billion in 2018, and is expected to reach $7.9 billion by 2026, registering a CAGR of 6.9% from 2019 to 2026.The burger/sandwich segment was the highest contributor to the market, with $1.7billion in 2018, and is estimated grow at a CAGR of 6.1% during the forecast period.

The Philippines quick service restaurants market has been continuously improvising in terms of product offerings, number of outlets, hospitality and other perks regarding prices that attracts a higher number of customers. Over the years, the Filipinos, specifically the millennials, have been open to different types of innovative food products due to increase in influence of westernization among the target customers. Considering this customer perception, some of the key players in the Philippines quick service restaurants market have been strategizing on innovating its existing product offerings. For instance, the U.S. fast food giant Kentucky Fried Chicken that specializes in the preparation of fried chicken, added new flavors in Spanish Salpicao, Japanese Teriyaki, and Spicy Gangnam Chicken for its Filipino customers.

Moreover, the quick service restaurants have been strategizing on broadening their menu to offer a wider selection of meals and snacks, owing to varying customer perception and preference for fast food products. Most of these operators offer value for money by facilitating promotional pricings, customer loyalty programs, weekly special, and others. Such increase in product offering from QSR outlets is expected to increase the Philippines quick service restaurants market share during the forecast period.

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Some of the key players in the Philippines quick
service restaurants market have been taking efforts on improvising the overall ambience of its establishments in the view of connecting to the culture and lifestyle of their customers. For instance, Pancake House, one of the key players in the Philippines market, took efforts of introducing interior designs that are attractive as well as alluring for majority Filipino customer visiting them.

Major Players: BonChon Chicken Philippines, ArmyNavy Philippines, Shakey's Pizza Asia Ventures Inc., 3M Pizza Philippines, Chooks-to-go, Goldlocks, Jollibbee, McDonald's, Wendy's, YUM Brands and others.

Key Findings Of The Study

o The Seafood segment is expected to grow at a CAGR of 9.1% during the forecast period.
o Burger/Sandwich segment is anticipated to dominate the Philippines Quick Service Restaurants marketgrowth, registering a CAGR of 6.1% during the forecast period.
o The Independent segment is anticipated to dominate the Philippines Quick Service Restaurants market analysis,with a CAGR of 7.5%during the forecast period.
o The Franchisedsegment is estimated to grow at a CAGR of 6.3%during the Philippines Quick Service Restaurants market forecast period.

In-depth analysis of the COVID-19 impact on the Philippines Quick Service Restaurants Market@ https://www.alliedmarketresearch.com/philippines-quick-service-restaurants-market-A06122

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About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions". AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. The data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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