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Spirits continued to see healthy growth in total volume terms in 2019 with sales benefiting from rising disposable income in the country. Not only did volume sales increase in 2019 but consumers were also trading up to premium products as they displayed a greater appreciation of higher quality products.
At the start of the review period brandy was by far the largest category in spirits accounting for almost half of all volume sales; however, by the end of the review period it had seen its total volume sales drop by almost a third. The Philippines has a young population and this has had a negative impact on sales of brandy which is seen as an old fashioned drink by many consumers in the country.
Domestic companies Ginebra San Miguel Inc, Emperador Distillers Inc and Tanduay Distillers Inc dominate volume sales in spirits, thanks to their control over the key categories of brandy, gin and rum. These players benefit from strong distribution and low pricing which makes it hard for imported brands of spirits to compete.
On-trade volume sales of spirits are expected to fall by 27% in 2020 in light of the impact of COVID-19. This compares to an expected 2% rise forecast for 2020 during research conducted in May 2019, ie before the spread of COVID-19.
Sales of all spirits are expected to be significantly lower in 2020 compared to 2019. Some products which were on trend prior to COVID-19, such as gin and Irish whiskey, should continue to see solid growth through the off-trade, with consumers still keen to have their favourite drinks as a way to relax.
Unlike other areas of alcoholic drinks, it is not expected that total volume sales of spirits will return to pre-COVID-19 levels before the end of the forecast period. The on-trade should see strong growth in the early part of the review period with consumers keen to start socialising again, but by the end of the forecast period growth is likely to become more modest as the financial implications of COVID-19 are felt.
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Overview
Discover the latest market trends and uncover sources of future market growth for the Spirits industry in Philippines with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
If you're in the Spirits industry in Philippines, our research will save you time and money while empowering you to make informed, profitable decisions.
The Spirits in Philippines market research report includes:
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This industry report originates from Passport, our Alcoholic Drinks market research database.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.