THE MARKET for imported spirits in the Philippines has been estimated at up to P50 billion at retail prices by 2025, The Keepers Holdings, Inc. (KEEPRS) said, citing a global report.
The trend would imply a market share for imported spirits segment of about 35%, and a 14.9% compound annual growth rate (CAGR) between 2021 and 2025.
IWSR Drinks Market Analysis Ltd. expects the overall consumption of spirits in the Philippines to grow 5.2% on a CAGR basis during the period, while domestic spirits growth was estimated at 1.3%, KEEPRS said in a statement Thursday.
By retail value, consumption of spirits has grown to P116.3 billion in 2020 from P91.7 billion in 2017.
Spirits retail sales in 2020 rose 1.9%, while the overall alcohol beverage market declined 6.3%.
KEEPRS accounts for 74% of imported spirits by volume, and 66.9% by retail sales value.
“KEEPR anticipates that the forecasted growth in the imported spirits segment translates to direct growth opportunities for its business and operations,” the company said.
The largest distributor of imported spirits in the Philippines, KEEPRS said last month that it was keen on expanding its imported spirits portfolio.
Previously known as Da Vinci Capital Holdings, the Securities and Exchange Commission recently approved the name change for the Lucio L. Co-controlled company to The Keepers Holdings, Inc.
KEEPRS was formed after the acquisition of Montosco, Inc., Meritus Prime Distributions, Inc., and Premier Wine and Spirits, Inc. through a share-swap deal with Mr. Co’s other company, Cosco Capital, Inc. — Jenina P. Ibañez