05 Apr 2021
Posted in Consumer
Bulk water grew significantly and dairy drinks moderately in Philippines’ beverages market in Q4 2020, says GlobalData
Bulk/HOD volumes grew by 14.8% in Q4 2020, while dairy drinks posted a moderate growth of 2.5% in the Filipino beverages market, says GlobalData, a leading data and analytics company.
GlobalData’s report, ‘Philippines Beverages Consumption Trends and Forecasts Tracker, Q4 2020 (Dairy and Soy Drinks, Alcoholic Drinks, Soft Drinks and Hot Drinks)’ reveals that bulk water and dairy & soy drinks & milk alternatives were the only sectors to see a notable volume rise in Q4 2020.
Soft drink volumes posted a sharp decline of 13.8% in Q4 2020 over the same quarter of the previous year, with several categories registering double digit declines. The juice category posted a strong growth of 7.6%, while nectars and fruit powders also grew in volume in the same period.
Bobby Verghese, Consumer Analyst at GlobalData, says: “The juice category’s healthy halo for its ‘no added sugar’ attribute was able to appeal to consumers who are increasingly inclined to make ‘better for you’ choices when buying food/drinks in the wake of the global pandemic.”
Alcoholic drinks suffered the most, posting the sharpest volume decline among all beverage sectors in Q4 2020. The drop is attributed to the fall in tourism and the resulting decline in ‘on-premise’ sales coupled with restrictions on socialization and business operations as a measure to stop the spread of the COVID-19 virus.
Mr. Verghese concludes: “While categories such as carbonates may continue to suffer from their perceived negative health attributes, the overall beverages industry will recover in 2021. This retrieval is largely helped by the government’s vaccination drive, which is likely to usher in a sense of normalcy and ease restrictions of movement and business operations.”