Cider, Perry & Rice Wine - Philippines

The Cider, Perry & Rice Wine market in Philippines has been experiencing significant growth in recent years.

Customer preferences: One of the key factors driving the growth of the Cider, Perry & Rice Wine market in Philippines is the changing preferences of consumers. Filipino consumers are increasingly looking for alternative alcoholic beverages that offer unique flavors and experiences. Cider, Perry & Rice Wine provide a refreshing and distinct taste compared to traditional alcoholic beverages such as beer and spirits. Additionally, these beverages are often perceived as healthier options due to their natural ingredients and lower alcohol content. This appeals to consumers who are conscious about their health and wellness.

Trends in the market: The Cider, Perry & Rice Wine market in Philippines is witnessing a surge in product innovation and variety. Manufacturers are introducing new flavors and blends to cater to the diverse preferences of consumers. This includes fruit-infused ciders, flavored perry, and rice wines with unique ingredients. The introduction of these innovative products has attracted a wider consumer base and contributed to the overall growth of the market. Another trend in the market is the increasing popularity of craft and artisanal Cider, Perry & Rice Wine. Filipino consumers are becoming more interested in locally-produced and small-batch beverages that offer a unique taste and story. Craft producers are capitalizing on this trend by focusing on quality ingredients, traditional production methods, and limited edition releases. This has created a niche market for premium Cider, Perry & Rice Wine that appeals to discerning consumers.

Local special circumstances: The Philippines has a rich agricultural heritage, with a wide variety of fruits and grains grown locally. This abundance of natural resources has played a significant role in the development of the Cider, Perry & Rice Wine market. Local producers have access to a diverse range of ingredients, allowing them to create unique and flavorful products. Additionally, the tropical climate of the Philippines provides ideal conditions for fruit cultivation, resulting in high-quality fruits that are used in the production of Cider and Perry.

Underlying macroeconomic factors: The growing middle class and increasing disposable income in Philippines have also contributed to the growth of the Cider, Perry & Rice Wine market. As consumers have more purchasing power, they are willing to explore new and premium alcoholic beverages. This has created a favorable market environment for Cider, Perry & Rice Wine manufacturers to expand their product offerings and reach a wider consumer base. Furthermore, the tourism industry in Philippines has been booming in recent years. The country attracts a large number of international tourists who are seeking unique experiences and flavors. This has created a demand for local and authentic alcoholic beverages, including Cider, Perry & Rice Wine. Manufacturers are capitalizing on this trend by promoting their products to tourists and incorporating Filipino flavors and ingredients into their offerings. In conclusion, the Cider, Perry & Rice Wine market in Philippines is witnessing significant growth due to changing customer preferences, product innovation, local special circumstances, and underlying macroeconomic factors. With the increasing demand for unique and flavorful alcoholic beverages, the market is expected to continue its growth trajectory in the coming years.

Data coverage:
The data encompasses B2C enterprises. The at-home market covers retail sales via super- and hypermarkets, eCommerce, convenience stores, or similar sales channels. The out-of-home data encompasses all sales to hotels, restaurants, catering, cafés, bars, and similar hospitality service establishments. Combined numbers encompass both the at-home market and the out-of-home market. Both the at-home and the out-of-home market are valued at retail selling prices including all sales and consumption taxes.

Modeling approach:
Market sizes are determined through a Top-Down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending (e.g. consumer spending on alcoholic beverages, consumer spending at Hotels, Restaurants etc.), and price level index. This data helps us estimate the market size for each country individually.

Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Alcoholic Drinks market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:
The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level.