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Nestlé is reportedly setting its sights on the coffee and dairy industry in the Philippines. The company sees many opportunities for its business expansion in the country, so aside from the said market categories, it also wants to bring new products to the Philippine market.
One of the added sectors that it may target for its business in the region is nutrition, especially for senior citizens. As per the Philippine Star, Nestlé has new growth plans for its dairy business as well as medical nutrition business.
“As a company we are deeply committed to the Philippine market. It’s a strong and growing market. We are also particularly interested in manufacturing and sourcing more from the Philippines,” Mark Schneider, Nestlé’s global chief executive officer, said in a statement to the press. “For example, sourcing more coffee from the Philippines is a key initiative of ours as we have a wonderful coffee market here.”
He added that they are currently working with local farmers to make sure that they can produce more local coffee so that there will be no need for imports in the Philippines. Schneider further explained that aside from the expansion plans for the coffee business, Nestlé will also consider other areas that it thinks will make good contributions with time.
“And so, in particular, anything related to healthy aging and nutrition for elders and also for vitamins, minerals and supplements, these are products that we intend to introduce to a greater extent into the Philippine market over time,” the company’s global chief said, “We are already here so we intend to do more.”
Meanwhile, Business World reported that Nestlé Philippines’ CEO, Kais Marzouki, shared that they are eyeing a P170-billion turnover this year alone. This is said to be higher than what the company logged last year, which was only P160 billion. He added that they do not have immediate plans to build new factories since Nestlé already has five facilities in the country; thus, they may just increase the production in these plants.
Photo by: inma santiago/Unsplash
