Demand is expected to improve slightly as volume sales growth inches up in 2014. Local manufacturer Universal Robins leads chocolate confectionery in the Philippines with its portfolio of affordable products which appeal to price-conscious buyers.
In 2013, the company’s market share is estimated to be at 29%. Capitalizing on its competitive pricing scheme, the company battles head-on with multinational companies with its local version of international brands. For instance, Universal Robin’s Nips is the local version of M&M’s, while Hello is its local adaptation of Kit Kate at a more affordable price and in smaller packaging. The category posted a market growth of 3%, which is on a par with the 2% recorded in 2012.
PROSPECTS Despite the efforts of manufacturers to boost demand for chocolate confectionery reduces, growth in retail value sales over the forecast period is expected to be sluggish, with a constant value CARR of 1% anticipated. Sales of chocolate confectionery products are projected to reach SSI 2. 6 billion by the end of 2018. In volume terms, the category is expected to perform better than over the review period, with a total volume CARR of 2% over the forecast period, compared to the CARR of 1% witnessed over the review period.
