PH alcoholic drinks industry remains bubbly

Along with the increasing middle class, the opening of more craft bars and the promotion of booze in hotels, restaurants, and other on-trade channels have created a cocktail culture in the country, raising the alcoholic drinks sector to a bubbly state from a slump caused by higher excise tax in 2013.

THE alcoholic drinks industry remains upbeat in Asia Pacific, including the Philippines. Global market research firm Euromonitor International says the sector’s turnover will see double-digit growth in 2016, as the region’s vast population will continue to develop a taste for alcohol. This, the industry think-tank says, should embolden major alcohol producers to build up their capacity.