Philippines

Economic Outlook

The Philippines is a robust, dynamic, growing market for beverages and the ingredients used to make them. Its imports of consumer-oriented, high-value products exceed $1 billion annually. The rising demand for beverages is driven by a large population (84 million growing by 2.3 percent per year). With persons under 30 years of age comprising 64 percent of the population, the Philippines is a youth-oriented market, boosting demand for new and trendy products in attractive packaging.

US Brands
There is strong interest in U.S. culture and trends due largely to the two nations’ long history of close relations, bolstered by a large Filipino-American community that maintains ties to the Philippines. This translates into a preference for U.S. products, which are regarded favorably for their high quality and consistency. However, Filipinos are very price sensitive and insist on value for money, meaning U.S. products must stay price competitive.

Wine Market
The Philippines remains the largest market in Southeast Asia for U.S. wines having surpassed Singapore in 2002 with annual growth averaging more than 30 percent in each of the last four years.