Home to a population of 110 million with a rapidly growing middle-class, health food company Forbidden Foods (ASX: FFF) has entered the lucrative Philippines market via a distribution deal for their toddler nutrition brand FUNCH and plant-based food brand Sensory Mill.
The exclusive distribution deal has been inked with Manila-based Moshi Wellness who have been quick to launch FUNCH and Sensory Mill products on the Philippines two largest eCommerce platforms – Lazada and Shopee. With 92 million monthly visitors, the two sites generate more traffic than Amazon and eBay in the Philippines.
Offline distribution will also take place across Moshi’s channels for FUNCH and Sensory Mill products to be stocked by major supermarkets All Day, SM Supermarket, Rustan’s and Robinsons.
“We are pleased to make further headway with our Asian strategy through our exclusive sales and distribution partnership with Moshi Wellness in the Philippines for our full range of FUNCH and Sensory Mill products,” Forbidden Foods Co-founder and COO, Jarrod Milani.
“There are over 10,000 modern food retailers/supermarkets in the Philippines and the food and non-alcoholic drinks category is set to be valued at A$164 billion in 2021, accounting for 37 per cent of essential spending of disposable income1 in the country.”
Specialising in health and beauty products, Moshi has one of the biggest networks in the Philippines for natural products, including distribution rights to fast-growing brands, such as Goli Nutrition, Eu Natural and Hum Nutrition.
The addition of the Philippines to their existing distribution across China, Vietnam and Malaysia continues Forbidden Foods strategy to target populous nations with a rising middle class.
This demographic possesses higher incomes and are expected to increase demand for premium food and beverage offerings in the retail and food service sector, especially for imported products.
“Not only do Forbidden Food’s products align with our own ethos for natural and healthy products, the Philippines is currently an underserved market when it comes to kids and family friendly food options, creating multiple synergies between our teams,” said Moshi Wellness CEO, Takako Sasamori
“We look forward to growing the Forbidden Food brands through our online to offline, with the encouraging early results.”
Alfred Chan is an Analyst at Emerald Financial, specialising in ASX-listed small cap companies.
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