MANILA — The Philippine wine market is “ready” for more French players, according to the French embassy in Manila.
“While the Philippine market is relatively small compared to its other Asian neighbors, with the growing interest for fine wines and the Filipino wine drinker’s evolving and more discerning palate, I am positive that the steadily growing market is ready for even more French players,” French Ambassador Nicolas Galey said.
The French ambassador was at the official launch of Tastin’France Manila held on October 29.
Last month, a business delegation of 13 French wine producers and exporters arrived in Manila to meet local importers. They want to know more about the Philippines’ growing market for wines and spirits.
The business mission is part of Tastin’France, a series of global professional wine tasting events that take place in more than 65 cities worldwide. Business France, France’s national agency supporting the development of exports and international investment, organized this event.
Recognizing the potential of the wine market in the Philippines, Business France brings back Tastin’France to Manila for the first time since 2013. Thirteen winegrowers and merchants from the major wine regions in France include Champagne, Loire Valley, Rhône Valley, Languedoc, South West, Bordeaux, and Spirits.
“It is our hope that these 13 wine, champagne and cognac makers will be able to introduce more French products into the Philippine market through strong partnerships, and with the invaluable guidance of potential Filipino importers,” Galey said.
According to the embassy, wine is rapidly gaining popularity among the younger generations. It represents a potential growth segment as young consumers are becoming better educated, more frequent travelers, and embracing more diversified tastes. The older generations are the traditionally the main consumer market.
The market for fine wines, champagne, and spirits in the Philippines records a 7-percent current value growth, reaching PHP1.1 billion in 2017.
France was the fourth largest wine exporter to the Philippines last yearin terms of value at 3 million euros (USD3.531 million). The other top wine exporters were the United States, Australia, and Spain. In terms of volume at 1.2 million liters, France placed sixth.
Source: PNA
