PH WINE MARKET ‘READY’ FOR MORE FRENCH PLAYERS
MANILA — The French embassy in Manila believes the Philippine wine market is “ready” for more French players.
“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 during the official launch of Tastin’France Manila on October 29.
Last week, a business delegation of 13 French wine producers and exporters arrived in Manila to meet local importers and learn 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 all over the world, organized by Business France, France’s national agency supporting the development of exports and international investment.
Recognizing the potential of the wine market in the Philippines, Business France brings back Tastin’France to Manila for the first time since 2013, with a delegation composed of 13 wine growers and merchants from the major wine regions in France, such as 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 in a news release issued Wednesday.
According to the embassy, wine is traditionally consumed by the older generation, but is rapidly gaining popularity among the younger generations, which represent a potential growth segment as young consumers are becoming better educated, more frequent travelers, and embracing more diversified tastes.
The market for fine wines, champagne, and spirits in the Philippines records a 7-percent current value growth, reaching PHP1.1 billion in 2017.
In the same year, France was the fourth largest wine exporter (after the United States, Australia, and Spain) in terms of value at 3 million euros (USD3.531 million) and sixth in terms of volume at 1.2 million liters to the Philippines. (PR)