Inebriated market

The “premiumization” of the liquor market has had an underlying effect on the performance of key spirits producers and distributors.

Keepers Holdings Inc. continues to dominate the imported spirits distribution segment in the Philippines, backed by a strong performance across product segments.

Keepers reported robust growth in its consolidated net sales for the first nine months of 2024, reaching P11.7 billion, representing a 14.6-percent growth from the year before driven by an 18-percent rise in total cases sold.

The brandy category exhibited a strong performance with a 25-percent growth in value and volume.

Recent household consumption prints reflected recovering consumer spending and confidence rising to 5.1 percent.

More importantly, consumer preference was shifting to premium brands.

To take advantage of the trend, Keepers acquired 100 percent of the outstanding shares of the largest imported beer distributor, Booze On-line. The investment should enable Keepers to increase its product offerings while strengthening its position in the industry.

Yet, manufacturer Emperador Inc. recorded a net income of P4.9 billion, despite an eight-percent drop in revenues to P43.2 billion as global demand for brandy and whisky softened due to downtrading — where buyers opt for smaller unit packs or lower-end brands instead of premium or larger products.

As a result, the preferences of the liquor market remain divided.