The United States (US) is seeking to leverage the growing appeal of convenient meal products in the Philippines to widen its reach in the packaged soups and ready meals market, further expanding its presence in its 10th-largest export market.

In a May 26 report, the US Department of Agriculture (USDA) said the local market for packaged soups and ready meals reached $176 million in retail sales last year, posting a compound annual growth rate (CAGR) of eight percent from 2020 to 2025.

Citing data from Euromonitor International, the USDA projects that this market will climb to $237 million by 2030, representing a CAGR of six percent from 2026 to 2030.

The international agency attributed the upward momentum to the emergence of busy urban households in need of convenient meal solutions without sacrificing quality or nutrition.

It further noted that the increasing participation of women in the workforce, combined with the rise of dual-income households and a growing population of senior citizens, is fueling demand for packaged soups and ready meals.

“These products serve as complete meals or as components that shorten home cooking time, addressing the time constraints faced by modern Filipino families,” the USDA said.

Against this backdrop, the report noted that US exports are well-positioned to seize opportunities in the Philippine market given the already strong presence of American products there.

The USDA said around 30 percent of the packaged soups and ready meals in the country are imported, of which 20 percent are sourced directly from the US, equivalent to around $11 million in sales.

Despite a relatively strong presence in the market, the agency pointed out that the bulk of these exports consists only of canned soups.

“This indicates substantial untapped potential for US food manufacturers to expand their market share in this growing sector,” the report read.

The USDA said products that put a premium on convenience, quality, health benefits, and familiar American and international flavors show the strongest market potential in the Philippines.

In terms of packaged soup, the USDA said exporters should focus more on dry soup products, which have been the fastest-growing variety over the past five years. For ready meals, the agency said products with clear heating instructions, extended shelf life, and smaller portion sizes are more suited to the local market.

“Given the market’s receptivity to diverse cuisines and growing health consciousness, products that combine authentic flavors with clear nutritional information have significant opportunities to stand out and grow,” it added.

The potential for export growth in the packaged soups and ready meals market comes as the Philippines ended last year as the US’ 10th-largest export destination for agricultural products, reaching $3.41 billion in sales.

The latest ranking marks a decline from the country’s previous designation as the ninth-largest market for US agricultural products in 2024, when sales stood at $3.48 billion.