PROSPECTS AND OPPORTUNITIES
Ongoing consumer preference for imported fine wines over local options
The Philippines faces some climate-based challenges when it comes to being a producer of local wine. For example, heat surges negatively affect grape production, leading to lower quantities being able to be produced, and lower quality in the final product in general – when compared to high-end international wines.
Collaborations expected between fine wines/champagne and spirits and hospitality giants
As seen in experiential luxury, and in line with the ongoing developments seen in high-end resorts and casinos in the Philippines, we also expect collaborations between fine wines/champagne and spirits brands and hospitality giants. For example, as seen with Solaire Resort partnering with Finestra Italian Steakhouse, featuring Michelin star Italian chef Andrea Spagoni.
Ongoing trend for celebratory events will continue to support sales
As noted, the resumption of celebratory events and special occasions will continue to support sales of fine wines/champagne and spirits. This will be further supported by the ongoing urbanisation trends, the rise of the middle-class, and consumers re-embracing life after the era of pandemic restrictions.
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Overview:
Understand the latest market trends and future growth opportunities for the Fine Wines/Champagne and Spirits industry in Philippines with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Fine Wines/Champagne and Spirits industry in Philippines, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Fine Wines/Champagne and Spirits in Philippines report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Fine Wines/Champagne and Spirits in Philippines?
- Which are the leading brands in Fine Wines/Champagne and Spirits in Philippines?
- How are products distributed in Fine Wines/Champagne and Spirits in Philippines?
- How important is tourism in evaluating demand for Fine Wines/Champagne and Spirits in Philippines?
- How is the rise of e-commerce changing the retail and competitive landscape?
- How has COVID-19 and global recession impacted demand for luxury goods? What are the opportunities amidst the adversity?
- Where is future growth expected to be most dynamic?
Fine Wines/Champagne and Spirits in the Philippines - Category analysis
KEY DATA FINDINGS
Fine wines/champagne and spirits benefit from rebound in the hospitality sector
Perception of wine as a “healthier” drink boosts demand
Conventions and events help to educate consumers about wine varieties and attract further interest
Ongoing consumer preference for imported fine wines over local options
Collaborations expected between fine wines/champagne and spirits and hospitality giants
Ongoing trend for celebratory events will continue to support sales
Luxury Goods in the Philippines - Industry Overview
Luxury goods in 2024: The big picture
2024 key trends
Competitive landscape
Retailing developments
What next for luxury goods?
DISCLAIMER
The following categories and subcategories are included:
Fine Wines/Champagne and Spirits
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- Fine Champagne
- Other Fine Wine
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- Luxury Brandy and Cognac
- Luxury Whiskies
- Other Luxury Spirits
Fine Wines/Champagne and Spirits
This is the aggregation of fine wines and luxury spirits.
See all of our definitionsWhy buy this report?
- 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
This report originates from Passport, our Fine Wines/Champagne and Spirits research and analysis database.
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