The Philippines' culinary tourism market is estimated to reach USD 5405 Million in 2022 and is projected to surpass USD 21,302.47 Million by 2032. As per the report, the demand for culinary tourism in the Philippines is forecasted to increase at a CAGR of 14.7% from 2022 to 2032. Total sales in the Philippines culinary tourism market represent 3%-7 % of the global culinary tourism market.
| Attribute | Details |
|---|---|
| Philippines Culinary Tourism Market Estimated Size (2022) | USD 5405 Million |
| Philippines Culinary Tourism Market Value-based CAGR (2022 to 2032) | 14.7% |
| Philippines Culinary Tourism Market Top Players Share in 2021. | 2%-7% |
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The historical value of the Philippines' culinary tourism market was diminishing due to a lack of awareness about the exquisite tourist destinations in the Philippines, a lack of government initiatives, and so on. However, now that the government has turned its emphasis to improving culinary tourism in the Philippines, queries such as What is the tourism policy in the Philippines are being answered.
Thanks to the unique location, hospitality, cultural heritage, and the presence of popular food destinations in the Philippines, the demand for culinary tourism in the Philippines is expected to grow significantly. Cooking, or the ability to prepare, taste, or eat delicious food, is one of many aspects positively impacting the Philippines' culinary tourism market outlook.
As a result, the value of the Filipino cuisine business has increased in recent years. In the field of cooking, visitors can visit different places and taste and enjoy different foods and drinks from other places. The adoption of culinary tourism in the Philippines is expected to grow as people all around the world travel to the Philippines to study their food culture. Furthermore, increased exposure to various social media sites has increased people's knowledge of numerous trends propelling the Philippines' culinary tourism market growth.
Social media is rapidly serving as a virtual travel agency which is another factor boosting the demand for culinary tourism in the Philippines. Customers are increasingly choosing travel services and products based on recommendations from others and making reference to reviews and insights found on numerous social networking platforms. This factor is anticipated to offer growth opportunities to key players in the Philippines' culinary tourism market.
The surge in the number of travellers choosing unique and exotic holiday destinations to escape their busy everyday lives and gain worthwhile experiences might be ascribed to the growing demand for culinary tourism in the Philippines.
People are opting for culinary tourism in the Philippines as it is a peaceful and exotic region with a rich food culture. Tourists also chose the Philippines as their top preference with a wide choice of tasty foods and beverages.
Tourists experience family bonds by dining in indigenous homes or cooking together at local eateries and culinary tours. Its goal is to directly promote food and cultural customs. As the adoption of culinary tourism in the Philippines grows, guests are more likely to get to know the food culture by sharing a home-cooked meal with the locals. Key players are shifting from globalisation to localism, favouring local things that reflect their culture over global trends in the culinary tourism market.
Cooking classes are becoming increasingly popular in the Philippines' culinary tourism market. While eating at a diner allows visitors to sample local cuisine, watching and participating in food production allows them to have a deeper understanding of the Philippines' gastronomy.
The demand for culinary tourism in the Philippines is anticipated to rise as cooking training is becoming popular amongst younger people. Furthermore, households with younger children and unmarried tourists are taking this opportunity to fulfil and interact with new people, such as locals and global tourists. This factor is anticipated to propel the Philippines' culinary tourism market share during the forecast period.
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The food festival category accounted for a considerable part of the market in 2021, based on activity type. This trend is anticipated to maintain at some stage in the forecast period. The increase in this phase can be due to the developing affinity of vacationers for distinct meals and drinks.
In addition, culinary experiments permit tourists to make the maximum in their holiday time, exploring extraordinary towns in a brief quantity of time and experiencing extraordinary flavors in a single area. Therefore, the demand for culinary tourism in the Philippines is rising as tourists experience the great cultures in an extraordinarily brief time.
The online booking segment is anticipated to dominate the Philippines' culinary tourism market. This is due to swift features made available through internet channels. Furthermore, the adoption of culinary tourism in the Philippines is growing due to the simple, hassle-free digital money transfer, live monitoring, and increased security offered by online booking and mobile application platforms. Online booking is becoming increasingly popular all around the world since visitors can use the internet to research and compare information on trip destinations, hotels, restaurants, and other factors.
In 2021, package tours dominated the global culinary tourism industry. In the packaging, cooking experiences are noted in a variety of ways. The expansion of the Philippines' culinary tourism market is likely to be fuelled by the pairing of cooking classes with language lessons, sightseeing, scuba diving, exploring various islands, etc.
Vibrant Philippines Culture is Driving the Demand for Culinary Tourism in the Philippines
The Philippines' culinary tourism market is predicted to develop due to the presence of many conventional grocery stores. In addition, spices, curries, and Philippine dishes of diverse flavors are continually treated as artwork. This artwork draws overseas site visitors to Philippines cuisine.
In addition, another factor propelling the adoption of the culinary tourism market in the Philippines is the preference to research the Philippines' lifestyle, subculture, and traditions. This is predicted to boost the culinary tourism market size over the forecast period.
Digitalization is Expected to Boost the Culinary Tourism Market in the Philippines
Apps are increasingly being utilized by hoteliers to control the offerings they offer to their visitors, and they are able to now manipulate many regions of the traveler cycle and experience. Since 2020, the fashion closer to digitized and contactless offerings is grown exponentially. As a result of this factor, the Philippines' culinary tourism market is set to witness exponential growth throughout the forecast period.
Additional offerings which include virtual check-in, contactless cards, voice recognition, and fingerprints have become a makeover due to the developing use of innovative solutions. Users' awareness about the use of facial and fingerprint verification to get entry privileges to their mobile phones and laptops is anticipated to boost the adoption of culinary tourism in the Philippines. Unfortunately, the fee of adopting and retaining those enhancements can be prohibitive for companies participating in the market.
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Leading players in the Philippines culinary tourism market are estimated to account for approximately 2%-7% of the total market share.
International and domestic players all around the world target visitors through memberships and by offering a variety of services in a restricted number of packages. Furthermore, through various internet channels, these players encourage travelers to participate in seasonal and festival culinary excursions.
In order to obtain a competitive advantage in the Philippines' culinary tourism market, the major companies are concentrating on organic and inorganic growth strategies such as acquisitions, mergers, and partnerships.
| Attribute | Details |
|---|---|
| Forecast Period | 2022 to 2032 |
| Historical Data Available for | 2017 to 2021 |
| Market Analysis | USD Million for Value |
| Key Region Covered | Asia |
| Key Countries Covered | Philippines |
| Key Segments Covered | Activity Type, Booking Channel, Tourist Type, Tour Type, Customer Orientation, Age Group, and Region. |
| Key Companies Profiled | Rio Travel and Tour; Viator travelers; Tripadvisor travelers; Leisure Pro Journeys; Yolo Travel Philippines; Blue Horizons Travel and Tours, Inc; Rio Travel and Tour; CTPH TOUR; Saferide Car Rental; Traveling Spoon; Royal Island Resort and Watersports; Explore Manila Tours; Sebastien Chamaret and Michelle Africa; World Holiday Travel and Tours Palawan; Poochie's Kitchen; Joner Germina |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, Drivers, Restraints, Opportunities and Threats Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The Philippines' culinary tourism market is expected to reach a valuation of USD 5405 Million in 2022.
The demand for culinary tourism in the Philippines is forecasted to increase at a CAGR of 14.7% from 2022 to 2032.
The online Booking segment is anticipated to dominate the Philippine culinary tourism market.
The Philippine's culinary tourism market is estimated to reach USD 21,302.47 Million by 2032
1. Executive Summary 1.1. Market Outlook 1.1.1. Who Is Travelling? 1.1.2. How Much Do They Spend? 1.1.3. Direct Contribution of Tourism To GDP 1.1.4. Direct Contribution of Tourism To Employment 1.2. Culinary Tourism Evolution Analysis 1.3. FMI Analysis and Recommendations 2. Market Introduction 2.1. Total Spending (USD Million) and Forecast (2022 to 2032) 2.2. Number of Tourists (Million) and Forecast (2022 to 2032) 2.3. Total Spending Y-o-Y Growth Projections (2022 to 2032) 2.4. Number of Tourists Y-o-Y Growth Projections 3. Culinary Tourism Industry Analysis 3.1. Culinary Tourism Industry Overview 3.1.1. Culinary Tourism Industry Contribution to Philippines GDP 3.1.2. Culinary Tourism Sector Contribution to India’s Overall Employment 3.1.3. Impact of Covid-19 3.1.4. Others 4. Market Dynamics 4.1. Market Drivers & Opportunities 4.1.1. The culinary tourism market is fueled by the rise of home cooking and shared dining 4.1.2. The growing tendency to learn cooking is affecting the culinary tourism market 4.1.3. Others (during course study) 5. Market Background 5.1. Macro-Economic Factors 5.1.1. Philippines GDP Growth Outlook 5.1.2. Philippines Industry Value Added 5.1.3. Consumer Spending Outlook 5.1.4. Philippines Direct Contribution of Culinary Tourism to GDP 5.1.5. Internet Penetration Rates 5.1.6. Capital Investment in Culinary Tourism 5.2. Forecast Factors - Relevance & Impact 6. Categorizing of Market, 2021 6.1. Introduction/ Key Findings 6.2. Current Market Analysis by Activity Type 6.2.1. Culinary Trials 6.2.2. Cooking Classes 6.2.3. Restaurants 6.2.4. Food Festivals 6.2.5. Others 6.3. Current Market Analysis by Tour Type 6.3.1. Independent Traveller 6.3.2. Tour Group 6.3.3. Package Traveller 6.4. Current Market Analysis by Consumer Orientation 6.4.1. Men 6.4.2. Women 6.4.3. Children 6.5. Current Market Analysis by Age Group 6.5.1. 15-25 Years 6.5.2. 26-35 Years 6.5.3. 36-45 Years 6.5.4. 46-55 Years 6.5.5. 66-75 Years 6.6. Current Market Analysis by Booking Channel 6.6.1. Phone Booking 6.6.2. Online Booking 6.6.3. In-Person Booking 7. Social Media Sentimental Analysis 7.1. Social Media Platforms Preferred 7.1.1. Facebook 7.1.2. YouTube 7.1.3. Instagram 7.1.4. Twitter 7.1.5. LinkedIn 7.1.6. Pinterest 7.1.7. Google+ 7.1.8. Others 7.2. Consumer Perception for Destinations On Social Media Platforms - Positive and Negative Mentions 7.3. Trending #Hashtags 7.4. Social Media Platform Mentions (% of Total Mentions) 7.5. Region-Wise Social Media Mentions (% of Total Mentions) 7.6. Trending Subject Titles 8. Competition Analysis 8.1. Rio Travel and Tour 8.2. Viator Travelers 8.3. Tripadvisor Travelers 8.4. Leisure Pro Journeys 8.5. Yolo Travel Philippines 8.6. Blue Horizons Travel and Tours, Inc. 8.7. Rio Travel and Tour 8.8. CTPH Tour 8.9. Saferide Car Rental 8.10. Traveling Spoon 8.11. Royal Island Resort and Watersports 8.12. Explore Manila Tours 8.13. Sebastien Chamaret and Michelle Africa 8.14. World Holiday Travel and Tours Palawan 8.15. Poochie's Kitchen 8.16. Joner Germina 9. Assumptions and Acronyms Used 10. Research Methodology
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Philippines Culinary Tourism Market
