Limited-service restaurants continue to drive Philippine food service growth
The comfort and faster service offered by fast-food restaurants made it the most popular place to dine or buy food outside of home among Filipino consumers, especially for chicken and burger lovers. Accounting for over half the total revenue share, fast-food restaurants generated about 5.72 billion U.S. dollars in revenue in 2022 alone. The quick-service restaurant (QSR) market has since been dominated by local players led by the Jollibee Foods Corporation, which owns and operates Jollibee and other chains such as Mang Inasal, Greenwich, and Chowking. Following by a huge margin was McDonald’s, whose exclusive franchise is held by the Golden Arches Development Corporation. International food chains have also made their way to the Philippines, providing even more variety to Filipino food lovers.Aside from fast-food restaurant chains, stalls and kiosks have been serving Filipino consumers over the years, from students to government workers, and households with the vicinity. In every neighborhood lies carenderias, which are eateries serving affordable home-cooked meals, usually with longer operating hours. Aside from carenderias, street stalls are also popular nationwide, and in 2022, the combined sales of this type of establishments were estimated at 1.58 billion U.S. dollars.
