1 EXECUTIVE SUMMARY
1.1 MARKET ATTRACTIVENESS ANALYSIS 15
1.1.1 GLOBAL FLAVORED SPIRITS MARKET, BY PRODUCT TYPE 15
1.1.2 GLOBAL FLAVORED SPIRITS MARKET, BY DISTRIBUTION CHANNEL 16
1.1.3 GLOBAL FLAVORED SPIRITS MARKET, BY REGION 17
2 MARKET INTRODUCTION
2.1 DEFINITION 18
2.2 SCOPE OF THE STUDY 18
2.3 RESEARCH OBJECTIVE 18
2.4 MARKET STRUCTURE 19
2.5 KEY BUYING CRITERIA 19
3 RESEARCH METHODOLOGY
3.1 RESEARCH PROCESS 20
3.2 PRIMARY RESEARCH 21
3.3 SECONDARY RESEARCH 22
3.4 MARKET SIZE ESTIMATION 22
3.5 FORECAST MODEL 24
3.6 LIST OF ASSUMPTIONS & LIMITATIONS 25
4 MARKET INSIGHTS
5 MARKET DYNAMICS
5.1 INTRODUCTION 28
5.2 DRIVERS 29
5.2.1 PRODUCT INNOVATION 29
5.2.2 GROWTH OF THE FOODSERVICE INDUSTRY 29
5.2.3 GROWTH OF THE ORGANIZED RETAIL SECTOR 29
5.2.4 DRIVERS IMPACT ANALYSIS 30
5.3 RESTRAINT 30
5.3.1 SURGING DEMAND FOR NON-ALCOHOLIC BEVERAGES 30
5.3.2 RESTRAINT IMPACT ANALYSIS 31
5.4 OPPORTUNITIES 31
5.4.1 ADOPTION OF GROWTH STRATEGIES 31
6 MARKET FACTOR ANALYSIS
6.1 VALUE CHAIN ANALYSIS 33
6.1.1 RAW MATERIAL PROCUREMENT 34
6.1.2 PROCESSING 35
6.1.3 PACKAGING 35
6.2 SUPPLY CHAIN ANALYSIS 36
6.3 PORTER’S FIVE FORCES MODEL 37
6.3.1 THREAT OF NEW ENTRANTS 37
6.3.2 BARGAINING POWER OF SUPPLIERS 38
6.3.3 THREAT OF SUBSTITUTES 38
6.3.4 BARGAINING POWER OF BUYERS 38
6.3.5 RIVALRY 38
7 IMPACT OF THE COVID-19 OUTBREAK ON THE GLOBAL FLAVORED SPIRITS MARKET
8 GLOBAL FLAVORED SPIRITS MARKET, BY PRODUCT TYPE
8.1 OVERVIEW 41
8.1.1 GLOBAL FLAVORED SPIRITS MARKET ESTIMATES & FORECAST, BY PRODUCT TYPE, 2024-2032 42
8.2 WHISKEY 42
8.2.1 WHISKEY: MARKET ESTIMATES & FORECAST, BY REGION, 2024-2032 42
8.3 RUM 43
8.3.1 RUM: MARKET ESTIMATES & FORECAST, BY REGION, 2024-2032 43
8.4 VODKA 43
8.4.1 VODKA: MARKET ESTIMATES & FORECAST, BY REGION, 2024-2032 44
8.5 GIN 44
8.5.1 GIN: MARKET ESTIMATES & FORECAST, BY REGION, 2024-2032 44
8.6 OTHERS 45
8.6.1 OTHERS: MARKET ESTIMATES & FORECAST, BY REGION, 2024-2032 45
9 GLOBAL FLAVORED SPIRITS MARKET, BY DISTRIBUTION CHANNEL
9.1 OVERVIEW 46
9.1.1 GLOBAL FLAVORED SPIRITS MARKET ESTIMATES & FORECAST, BY DISTRIBUTION CHANNEL, 2024-2032 47
9.2 FOOD RETAIL 47
9.2.1 FOOD RETAIL: MARKET ESTIMATES & FORECAST, BY REGION, 2024-2032 47
9.3 FOODSERVICE 48
9.3.1 FOODSERVICE: MARKET ESTIMATES & FORECAST, BY REGION, 2024-2032 48
10 GLOBAL FLAVORED SPIRITS MARKET, BY REGION
10.1 OVERVIEW 49
10.2 NORTH AMERICA 51
10.2.1 US 53
10.2.2 CANADA 54
10.2.3 MEXICO 55
10.3 EUROPE 56
10.3.1 GERMANY 58
10.3.2 UK 59
10.3.3 FRANCE 60
10.3.4 SPAIN 61
10.3.5 ITALY 62
10.3.6 REST OF EUROPE 63
10.4 ASIA-PACIFIC 64
10.4.1 CHINA 66
10.4.2 JAPAN 67
10.4.3 INDIA 68
10.4.4 AUSTRALIA & NEW ZEALAND 69
10.4.5 REST OF ASIA-PACIFIC 70
10.5 REST OF THE WORLD 71
10.5.1 SOUTH AMERICA 73
10.5.2 MIDDLE EAST 74
10.5.3 AFRICA 75
11 COMPETITIVE LANDSCAPE
11.1 INTRODUCTION 76
11.1.1 MARKET STRATEGY ANALYSIS 76
11.2 COMPETITIVE BENCHMARKING 77
11.3 KEY DEVELOPMENTS & GROWTH STRATEGIES 78
11.3.1 PRODUCT LAUNCH 78
11.3.2 EXPANSIONS 79
11.3.3 AGREEMENT 79
11.3.4 PARTNERSHIP 80
11.3.5 ACQUISITION 80
12 COMPANY PROFILES
12.1 BACARDI LIMITED 81
12.1.1 COMPANY OVERVIEW 81
12.1.2 FINANCIAL OVERVIEW 81
12.1.3 PRODUCTS OFFERED 81
12.1.4 KEY DEVELOPMENTS 82
12.1.5 SWOT ANALYSIS 83
12.1.6 KEY STRATEGIES 83
12.2 THE BROWN-FORMAN CORPORATION 84
12.2.1 COMPANY OVERVIEW 84
12.2.2 FINANCIAL OVERVIEW 84
12.2.3 PRODUCTS OFFERED 85
12.2.4 KEY DEVELOPMENTS 85
12.2.5 SWOT ANALYSIS 86
12.2.6 KEY STRATEGIES 86
12.3 PERNOD RICARD 87
12.3.1 COMPANY OVERVIEW 87
12.3.2 FINANCIAL OVERVIEW 87
12.3.3 PRODUCTS OFFERED 88
12.3.4 KEY DEVELOPMENTS 88
12.3.5 SWOT ANALYSIS 89
12.3.6 KEY STRATEGIES 89
12.4 DIAGEO PLC 90
12.4.1 COMPANY OVERVIEW 90
12.4.2 FINANCIAL OVERVIEW 90
12.4.3 PRODUCTS OFFERED 91
12.4.4 KEY DEVELOPMENTS 91
12.4.5 SWOT ANALYSIS 92
12.4.6 KEY STRATEGIES 92
12.5 SUNTORY BEVERAGE AND FOOD LIMITED 93
12.5.1 COMPANY OVERVIEW 93
12.5.2 FINANCIAL OVERVIEW 93
12.5.3 PRODUCTS OFFERED 94
12.5.4 KEY DEVELOPMENTS 94
12.5.5 SWOT ANALYSIS 95
12.5.6 KEY STRATEGIES 95
12.6 CONSTELLATION BRANDS, INC. 96
12.6.1 COMPANY OVERVIEW 96
12.6.2 FINANCIAL OVERVIEW 96
12.6.3 PRODUCTS OFFERED 97
12.6.4 KEY DEVELOPMENTS 97
12.6.5 KEY STRATEGIES 97
12.7 DISTELL GROUP LIMITED 98
12.7.1 COMPANY OVERVIEW 98
12.7.2 FINANCIAL OVERVIEW 98
12.7.3 PRODUCTS OFFERED 99
12.7.4 KEY DEVELOPMENTS 99
12.7.5 KEY STRATEGIES 99
12.8 WILLIAM GRANT & SONS 100
12.8.1 COMPANY OVERVIEW 100
12.8.2 FINANCIAL OVERVIEW 100
12.8.3 PRODUCTS OFFERED 100
12.8.4 KEY DEVELOPMENTS 101
12.8.5 KEY STRATEGIES 101
12.9 ASAHI GROUP HOLDINGS, LTD 102
12.9.1 COMPANY OVERVIEW 102
12.9.2 FINANCIAL OVERVIEW 102
12.9.3 PRODUCTS OFFERED 103
12.9.4 KEY DEVELOPMENTS 103
12.9.5 KEY STRATEGIES 103
12.10 SAN MIGUEL CORPORATION 104
12.10.1 COMPANY OVERVIEW 104
12.10.2 FINANCIAL OVERVIEW 104
12.10.3 PRODUCTS OFFERED 105
12.10.4 KEY DEVELOPMENTS 105
12.10.5 KEY STRATEGIES 105
13 REFERENCES
14 LIST OF TABLES
TABLE 1 PRIMARY INTERVIEWS 21
TABLE 2 LIST OF ASSUMPTIONS & LIMITATIONS 25
TABLE 3 GLOBAL FLAVORED SPIRITS MARKET ESTIMATES & FORECAST, BY PRODUCT TYPE, 2024-2032 (USD MILLION) 42
TABLE 4 WHISKEY: MARKET ESTIMATES & FORECAST, BY REGION, 2024-2032 (USD MILLION) 42
TABLE 5 RUM: MARKET ESTIMATES & FORECAST, BY REGION, 2024-2032 (USD MILLION) 43
TABLE 6 VODKA: MARKET ESTIMATES & FORECAST, BY REGION, 2024-2032 (USD MILLION) 44
TABLE 7 GIN: MARKET ESTIMATES & FORECAST, BY REGION, 2024-2032 (USD MILLION) 44
TABLE 8 OTHERS: MARKET ESTIMATES & FORECAST, BY REGION, 2024-2032 (USD MILLION) 45
TABLE 9 GLOBAL FLAVORED SPIRITS MARKET ESTIMATES & FORECAST, BY DISTRIBUTION CHANNEL, 2024-2032 (USD MILLION) 47
TABLE 10 FOOD RETAIL: MARKET ESTIMATES & FORECAST, BY REGION, 2024-2032 (USD MILLION) 47
TABLE 11 FOODSERVICE: MARKET ESTIMATES & FORECAST, BY REGION, 2024-2032 (USD MILLION) 48
TABLE 12 GLOBAL FLAVORED SPIRITS MARKET ESTIMATES & FORECAST, BY REGION, 2024-2032 (USD MILLION) 50
TABLE 13 NORTH AMERICA: MARKET ESTIMATES & FORECAST, BY COUNTRY, 2024-2032 (USD MILLION) 51
TABLE 14 NORTH AMERICA: FLAVORED SPIRITS MARKET, BY PRODUCT TYPE, 2024-2032 (USD MILLION) 52
TABLE 15 NORTH AMERICA: FLAVORED SPIRITS MARKET, BY DISTRIBUTION CHANNEL, 2024-2032 (USD MILLION) 52
TABLE 16 US: FLAVORED SPIRITS MARKET, BY PRODUCT TYPE, 2024-2032 (USD MILLION) 53
TABLE 17 US: FLAVORED SPIRITS MARKET, BY DISTRIBUTION CHANNEL, 2024-2032 (USD MILLION) 53
TABLE 18 CANADA: FLAVORED SPIRITS MARKET, BY PRODUCT TYPE, 2024-2032 (USD MILLION) 54
TABLE 19 CANADA: FLAVORED SPIRITS MARKET, BY DISTRIBUTION CHANNEL, 2024-2032 (USD MILLION) 54
TABLE 20 MEXICO: FLAVORED SPIRITS MARKET, BY PRODUCT TYPE, 2024-2032 (USD MILLION) 55
TABLE 21 MEXICO: FLAVORED SPIRITS MARKET, BY DISTRIBUTION CHANNEL, 2024-2032 (USD MILLION) 55
TABLE 22 EUROPE: MARKET ESTIMATES & FORECAST, BY COUNTRY, 2024-2032 (USD MILLION) 56
TABLE 23 EUROPE: FLAVORED SPIRITS MARKET, BY PRODUCT TYPE, 2024-2032 (USD MILLION) 57
TABLE 24 EUROPE: FLAVORED SPIRITS MARKET, BY DISTRIBUTION CHANNEL, 2024-2032 (USD MILLION) 57
TABLE 25 GERMANY: FLAVORED SPIRITS MARKET, BY PRODUCT TYPE, 2024-2032 (USD MILLION) 58
TABLE 26 GERMANY: FLAVORED SPIRITS MARKET, BY DISTRIBUTION CHANNEL, 2024-2032 (USD MILLION) 58
TABLE 27 UK: FLAVORED SPIRITS MARKET, BY PRODUCT TYPE, 2024-2032 (USD MILLION) 59
TABLE 28 UK: FLAVORED SPIRITS MARKET, BY DISTRIBUTION CHANNEL, 2024-2032 (USD MILLION) 59
TABLE 29 FRANCE: FLAVORED SPIRITS MARKET, BY PRODUCT TYPE, 2024-2032 (USD MILLION) 60
TABLE 30 FRANCE: FLAVORED SPIRITS MARKET, BY DISTRIBUTION CHANNEL, 2024-2032 (USD MILLION) 60
TABLE 31 SPAIN: FLAVORED SPIRITS MARKET, BY PRODUCT TYPE, 2024-2032 (USD MILLION) 61
TABLE 32 SPAIN: FLAVORED SPIRITS MARKET, BY DISTRIBUTION CHANNEL, 2024-2032 (USD MILLION) 61
TABLE 33 ITALY: FLAVORED SPIRITS MARKET, BY PRODUCT TYPE, 2024-2032 (USD MILLION) 62
TABLE 34 ITALY: FLAVORED SPIRITS MARKET, BY DISTRIBUTION CHANNEL, 2024-2032 (USD MILLION) 62
TABLE 35 REST OF EUROPE: FLAVORED SPIRITS MARKET, BY PRODUCT TYPE, 2024-2032 (USD MILLION) 63
TABLE 36 REST OF EUROPE: FLAVORED SPIRITS MARKET, BY DISTRIBUTION CHANNEL, 2024-2032 (USD MILLION) 63
TABLE 37 ASIA-PACIFIC: MARKET ESTIMATES & FORECAST, BY COUNTRY, 2024-2032 (USD MILLION) 64
TABLE 38 ASIA-PACIFIC: FLAVORED SPIRITS MARKET, BY PRODUCT TYPE, 2024-2032 (USD MILLION) 65
TABLE 39 ASIA-PACIFIC: FLAVORED SPIRITS MARKET, BY DISTRIBUTION CHANNEL, 2024-2032 (USD MILLION) 65
TABLE 40 CHINA: FLAVORED SPIRITS MARKET, BY PRODUCT TYPE, 2024-2032 (USD MILLION) 66
TABLE 41 CHINA: FLAVORED SPIRITS MARKET, BY DISTRIBUTION CHANNEL, 2024-2032 (USD MILLION) 66
TABLE 42 JAPAN: FLAVORED SPIRITS MARKET, BY PRODUCT TYPE, 2024-2032 (USD MILLION) 67
TABLE 43 JAPAN: FLAVORED SPIRITS MARKET, BY DISTRIBUTION CHANNEL, 2024-2032 (USD MILLION) 67
TABLE 44 INDIA: FLAVORED SPIRITS MARKET, BY PRODUCT TYPE, 2024-2032 (USD MILLION) 68
TABLE 45 INDIA: FLAVORED SPIRITS MARKET, BY DISTRIBUTION CHANNEL, 2024-2032 (USD MILLION) 68
TABLE 46 AUSTRALIA & NEW ZEALAND: FLAVORED SPIRITS MARKET, BY PRODUCT TYPE, 2024-2032 (USD MILLION) 69
TABLE 47 AUSTRALIA & NEW ZEALAND: FLAVORED SPIRITS MARKET, BY DISTRIBUTION CHANNEL, 2024-2032 (USD MILLION) 69
TABLE 48 REST OF ASIA-PACIFIC: FLAVORED SPIRITS MARKET, BY PRODUCT TYPE, 2024-2032 (USD MILLION) 70
TABLE 49 REST OF ASIA-PACIFIC: FLAVORED SPIRITS MARKET, BY DISTRIBUTION CHANNEL, 2024-2032 (USD MILLION) 70
TABLE 50 REST OF THE WORLD: MARKET ESTIMATES & FORECAST, BY REGION, 2024-2032 (USD MILLION) 71
TABLE 51 REST OF THE WORLD: FLAVORED SPIRITS MARKET, BY PRODUCT TYPE, 2024-2032 (USD MILLION) 72
TABLE 52 REST OF THE WORLD: FLAVORED SPIRITS MARKET, BY DISTRIBUTION CHANNEL, 2024-2032 (USD MILLION) 72
TABLE 53 SOUTH AMERICA: FLAVORED SPIRITS MARKET, BY PRODUCT TYPE, 2024-2032 (USD MILLION) 73
TABLE 54 SOUTH AMERICA: FLAVORED SPIRITS MARKET, BY DISTRIBUTION CHANNEL, 2024-2032 (USD MILLION) 73
TABLE 55 MIDDLE EAST: FLAVORED SPIRITS MARKET, BY PRODUCT TYPE, 2024-2032 (USD MILLION) 74
TABLE 56 MIDDLE EAST: FLAVORED SPIRITS MARKET, BY DISTRIBUTION CHANNEL, 2024-2032 (USD MILLION) 74
TABLE 57 AFRICA: FLAVORED SPIRITS MARKET, BY PRODUCT TYPE, 2024-2032 (USD MILLION) 75
TABLE 58 AFRICA: FLAVORED SPIRITS MARKET, BY DISTRIBUTION CHANNEL, 2024-2032 (USD MILLION) 75
TABLE 59 PRODUCT LAUNCH 78
TABLE 60 EXPANSIONS 79
TABLE 61 AGREEMENT 79
TABLE 62 PARTNERSHIP 80
TABLE 63 ACQUISITION 80
TABLE 64 BACARDI LIMITED: PRODUCTS OFFERED 81
TABLE 65 BACARDI LIMITED: KEY DEVELOPMENTS 82
TABLE 66 THE BROWN-FORMAN CORPORATION: PRODUCTS OFFERED 85
TABLE 67 THE BROWN-FORMAN CORPORATION: KEY DEVELOPMENTS 85
TABLE 68 PERNOD RICARD: PRODUCTS OFFERED 88
TABLE 69 PERNOD RICARD: PRODUCTS OFFERED 88
TABLE 70 DIAGEO PLC: PRODUCTS OFFERED 91
TABLE 71 DIAGEO PLC: PRODUCTS OFFERED 91
TABLE 72 SUNTORY BEVERAGE AND FOOD LIMITED: PRODUCTS OFFERED 94
TABLE 73 SUNTORY BEVERAGE AND FOOD LIMITED: KEY DEVELOPMENTS 94
TABLE 74 CONSTELLATION BRANDS, INC.: PRODUCTS OFFERED 97
TABLE 75 CONSTELLATION BRANDS, INC.: KEY DEVELOPMENTS 97
TABLE 76 DISTELL GROUP LIMITED: PRODUCTS OFFERED 99
TABLE 77 DISTELL GROUP LIMITED: KEY DEVELOPMENTS 99
TABLE 78 WILLIAM GRANT & SONS: PRODUCTS OFFERED 100
TABLE 79 WILLIAM GRANT & SONS: KEY DEVELOPMENTS 101
TABLE 80 ASAHI GROUP HOLDINGS, LTD: PRODUCTS OFFERED 103
TABLE 81 ASAHI GROUP HOLDINGS, LTD: KEY DEVELOPMENTS 103
TABLE 82 SAN MIGUEL CORPORATION: PRODUCTS OFFERED 105
15 LIST OF FIGURES
FIGURE 1 MARKET SYNOPSIS 14
FIGURE 2 MARKET ATTRACTIVENESS ANALYSIS: GLOBAL FLAVORED SPIRITS MARKET, 2024 15
FIGURE 3 GLOBAL FLAVORED SPIRITS MARKET ANALYSIS, BY PRODUCT TYPE 15
FIGURE 4 GLOBAL FLAVORED SPIRITS MARKET ANALYSIS, BY DISTRIBUTION CHANNEL 16
FIGURE 5 GLOBAL FLAVORED SPIRITS MARKET ANALYSIS, BY REGION, 2024 17
FIGURE 6 GLOBAL FLAVORED SPIRITS MARKET: STRUCTURE 19
FIGURE 7 KEY BUYING CRITERIA FOR FLAVORED SPIRITS 19
FIGURE 8 RESEARCH PROCESS 20
FIGURE 9 TOP-DOWN AND BOTTOM-UP APPROACHES 23
FIGURE 10 NORTH AMERICA: FLAVORED SPIRITS MARKET SIZE, BY COUNTRY (2024-2032) 26
FIGURE 11 EUROPE: FLAVORED SPIRITS MARKET SIZE, BY COUNTRY (2024-2032) 26
FIGURE 12 ASIA-PACIFIC: FLAVORED SPIRITS MARKET SIZE, BY COUNTRY (2024-2032) 27
FIGURE 13 REST OF THE WORLD: FLAVORED SPIRITS MARKET SIZE, BY REGION (2024-2032) 27
FIGURE 14 MARKET DYNAMICS OVERVIEW 28
FIGURE 15 DRIVERS IMPACT ANALYSIS: GLOBAL FLAVORED SPIRITS MARKET 30
FIGURE 16 RESTRAINT IMPACT ANALYSIS: GLOBAL FLAVORED SPIRITS MARKET 31
FIGURE 17 VALUE CHAIN: FLAVORED SPIRITS 34
FIGURE 18 GLOBAL FLAVORED SPIRITS MARKET: SUPPLY CHAIN ANALYSIS 36
FIGURE 19 PORTER'S FIVE FORCES ANALYSIS OF THE GLOBAL FLAVORED SPIRITS MARKET 37
FIGURE 20 IMPACT OF THE COVID-19 OUTBREAK ON THE GLOBAL FLAVORED SPIRITS MARKET 39
FIGURE 21 GLOBAL FLAVORED SPIRITS MARKET, BY PRODUCT TYPE, 2024 (% SHARE) 41
FIGURE 22 GLOBAL FLAVORED SPIRITS MARKET, BY PRODUCT TYPE, 2024-2032 (USD MILLION) 41
FIGURE 23 GLOBAL FLAVORED SPIRITS MARKET, BY DISTRIBUTION CHANNEL, 2024 (% SHARE) 46
FIGURE 24 GLOBAL FLAVORED SPIRITS MARKET, BY DISTRIBUTION CHANNEL, 2024-2032 (USD MILLION) 46
FIGURE 25 GLOBAL FLAVORED SPIRITS MARKET, BY REGION, 2024-2032 (USD MILLION) 49
FIGURE 26 GLOBAL FLAVORED SPIRITS MARKET, BY REGION, 2024 (% SHARE) 49
FIGURE 27 NORTH AMERICA: FLAVORED SPIRITS MARKET SHARE, BY COUNTRY, 2024 (% SHARE) 51
FIGURE 28 EUROPE: FLAVORED SPIRITS MARKET SHARE, BY COUNTRY, 2024 (% SHARE) 56
FIGURE 29 ASIA-PACIFIC: FLAVORED SPIRITS MARKET SHARE, BY COUNTRY, 2024 (% SHARE) 64
FIGURE 30 REST OF THE WORLD: FLAVORED SPIRITS MARKET SHARE, BY REGION, 2024 (% SHARE) 71
FIGURE 31 BACARDI & COMPANY LIMITED: SWOT ANALYSIS 83
FIGURE 32 THE BROWN-FORMAN CORPORATION: FINANCIAL OVERVIEW SNAPSHOT 84
FIGURE 33 THE BROWN-FORMAN CORPORATION: SWOT ANALYSIS 86
FIGURE 34 PERNOD RICHARD: FINANCIAL OVERVIEW SNAPSHOT 87
FIGURE 35 PERNOD RICARD: SWOT ANALYSIS 89
FIGURE 36 DIAGEO PLC: FINANCIAL OVERVIEW SNAPSHOT 90
FIGURE 37 DIAGEO PLC: SWOT ANALYSIS 92
FIGURE 38 SUNTORY BEVERAGE AND FOODS LIMITED: FINANCIAL OVERVIEW SNAPSHOT 93
FIGURE 39 SUNTORY BEVERAGE AND FOOD LIMITED: SWOT ANALYSIS 95
FIGURE 40 CONSTELLATION BRANDS, INC.: FINANCIAL OVERVIEW SNAPSHOT 96
FIGURE 41 DISTELL GROUP LIMITED: FINANCIAL OVERVIEW SNAPSHOT 98
FIGURE 42 ASAHI GROUP HOLDINGS, LTD: FINANCIAL OVERVIEW SNAPSHOT 102
FIGURE 43 SAN MIGUEL CORPORATION: FINANCIAL OVERVIEW SNAPSHOT 104