The Philippines market accounts for nearly 1% of the Asian still wine market size. The market registered a compound annual growth rate (CAGR) of 0.3% during 2017-22 and 5% growth over 2021. According to GlobalData’s deep-dive analysis report, the Philippines still wine market databook, red wine accounted for a notable share of 81% among various still wine segments in the market in 2022, followed by white wine. The report also provides in-depth analysis and market forecast to 2027. Buy the report here.
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According to GlobalData’s company and brand analysis, E. & J. Gallo Winery, Bel Mondo Italia and Wine Group held significant shares in the Philippines still wine market in 2022. Concurrently, Carlo Rossi, Novellino and Maria Clara led in terms of brand market share. E. & J. Gallo Winery had the leading market share by volume in 2022. Companies operating in the Philippines still wine market continue to use innovation to target gaps in product offering. Continuous tracking of market size and company performance is important to help competitors capture and maximize profits.
GlobalData’s channel analysis reveals that hypermarkets & supermarkets were the key channel of purchase for still wine, along with convenience stores. Also, food & drinks specialists recorded a notable growth during the COVID-19 pandemic, as consumers were forced to stay at home due to restricted movement opportunities.
Hypermarkets & supermarkets constituted the highest market share by volume in 2022. Consumers preferred this channel for its product assortment and competitive pricing. Convenience stores was the next preferred channel in the Philippines market.
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Among the top Asian markets, China accounted for the highest volume share in 2022, followed by Malaysia, Hong Kong, South Korea, Singapore, Thailand, Japan, the Philippines, and India.
With a growing number of consumers seeking to experiment with novel products, manufacturers and brands need to constantly innovate their flavours and formulations to remain relevant and competitive. Additionally, the popularity of e-commerce has made it easier for shoppers to compare product features and offerings across different brands.
To further understand and explore GlobalData’s insight into the still wine category and market forecast to 2027, buy the report here.
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