The convenience store market is booming in the Philippines.

Eighteen months ago, there were only two convenience chains in the Philippines – 7-Eleven and Mini Stop. Now there are seven, with the total number of outlets expected to increase to 4000 within four years.

The increasing wealth of urban Filipinos is one of the factors behind the expansion of these operators.

FamilyMart, for example, is aiming to have 500 outlets by 2018 from 130 by the end of this year. The Japanese chain has forged a joint venture with Ayala and Rustan’s Group and opened its first outlet in April 2013.

The company will soon introduce a franchising option to hasten expansion.

Indonesian chain Alfamart has also recently expanded into the country through a partnership with SM Group.

Local chain All Day, owned by former senator Manny Villar, plans to have 100 outlets before the end of 2014.

Japan’s Lawson has also partnered with local retailer Puregold to open 2000 outlets in the long term.

Circle K of the US is also expanding into the Philippines.