Philippines: Market for Wine Of Fresh Grapes (Except Sparkling Wine) 2024

Market Size for Wine Of Fresh Grapes (Except Sparkling Wine) in the Philippines

The Philippine wine of fresh grapes market surged to $X in 2022, increasing by 79% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, the total consumption indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +7.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +119.6% against 2020 indices. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Exports of Wine Of Fresh Grapes (Except Sparkling Wine)

Exports from the Philippines

In 2022, the amount of wine of fresh grapes (except sparkling wine) exported from the Philippines contracted notably to X litres, which is down by -65.6% on 2021. Over the period under review, exports, however, continue to indicate resilient growth. The pace of growth was the most pronounced in 2016 with an increase of 731%. As a result, the exports attained the peak of X litres. From 2017 to 2022, the growth of the exports failed to regain momentum.

In value terms, wine of fresh grapes exports soared to $X in 2022. In general, exports, however, showed significant growth. The most prominent rate of growth was recorded in 2016 with an increase of 620% against the previous year. As a result, the exports reached the peak of $X. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The United Arab Emirates (X litres) was the main destination for wine of fresh grapes exports from the Philippines, with a 81% share of total exports. Moreover, wine of fresh grapes exports to the United Arab Emirates exceeded the volume sent to the second major destination, Hong Kong SAR (X litres), fivefold.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United Arab Emirates amounted to +90.4%.

In value terms, Hong Kong SAR ($X) emerged as the key foreign market for wine of fresh grapes (except sparkling wine) exports from the Philippines, comprising 70% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 29% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Hong Kong SAR totaled -11.8%.

Export Prices by Country

In 2022, the average wine of fresh grapes export price amounted to $X per litre, growing by 273% against the previous year. In general, the export price continues to indicate a buoyant increase. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per litre), while the average price for exports to the United Arab Emirates amounted to $X per litre.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Democratic People's Republic of Korea (+76.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Wine Of Fresh Grapes (Except Sparkling Wine)

Imports into the Philippines

Wine of fresh grapes imports into the Philippines surged to X litres in 2022, jumping by 62% on the previous year's figure. In general, total imports indicated a mild expansion from 2012 to 2022: its volume increased at an average annual rate of +1.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +91.8% against 2020 indices. Imports peaked at X litres in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, wine of fresh grapes imports soared to $X in 2022. Overall, imports showed a remarkable increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, the United States (X litres) constituted the largest supplier of wine of fresh grapes to the Philippines, with a 39% share of total imports. Moreover, wine of fresh grapes imports from the United States exceeded the figures recorded by the second-largest supplier, Australia (X litres), twofold. The third position in this ranking was held by Spain (X litres), with a 15% share.

From 2012 to 2022, the average annual growth rate of volume from the United States amounted to +4.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (+6.1% per year) and Spain (-1.3% per year).

In value terms, the largest wine of fresh grapes suppliers to the Philippines were the United States ($X), Australia ($X) and Spain ($X), with a combined 72% share of total imports. France, Chile, Italy, South Africa and Singapore lagged somewhat behind, together comprising a further 22%.

South Africa, with a CAGR of +14.3%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average wine of fresh grapes import price stood at $X per litre in 2022, with an increase of 11% against the previous year. Overall, import price indicated a buoyant expansion from 2012 to 2022: its price increased at an average annual rate of +7.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, wine of fresh grapes import price increased by +83.8% against 2016 indices. The most prominent rate of growth was recorded in 2018 an increase of 37% against the previous year. The import price peaked in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was France ($X per litre), while the price for Singapore ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+10.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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