Africa: Vermouth Market 2024

Vermouth Market Size in Africa

The African vermouth market contracted slightly to $X in 2022, leveling off at the previous year. The total consumption indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +71.2% against 2012 indices. Over the period under review, the market reached the maximum level at $X in 2021, and then declined slightly in the following year.

Vermouth Production in Africa

In value terms, vermouth production shrank modestly to $X in 2022 estimated in export price. The total production indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +6.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -2.0% against 2019 indices. The most prominent rate of growth was recorded in 2016 with an increase of 17% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Vermouth Exports

Exports in Africa

In 2022, overseas shipments of vermouth decreased by -30% to X litres for the first time since 2019, thus ending a two-year rising trend. Overall, exports, however, saw a strong increase. The most prominent rate of growth was recorded in 2014 when exports increased by 471%. The volume of export peaked at X litres in 2021, and then fell markedly in the following year.

In value terms, vermouth exports shrank markedly to $X in 2022. Over the period under review, exports, however, posted buoyant growth. The pace of growth was the most pronounced in 2014 when exports increased by 665% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The shipments of the one major exporters of vermouth, namely South Africa, represented more than two-thirds of total export.

South Africa was also the fastest-growing in terms of the vermouth exports, with a CAGR of +24.2% from 2012 to 2022. From 2012 to 2022, the share of South Africa increased by +35 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) also remains the largest vermouth supplier in Africa.

In South Africa, vermouth exports expanded at an average annual rate of +15.0% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Africa amounted to $X per litre, with a decrease of -3.6% against the previous year. Over the period under review, the export price continues to indicate a abrupt setback. The pace of growth was the most pronounced in 2014 when the export price increased by 34% against the previous year. As a result, the export price reached the peak level of $X per litre. From 2015 to 2022, the export prices remained at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for South Africa.

From 2012 to 2022, the rate of growth in terms of prices for South Africa amounted to -7.4% per year.

Vermouth Imports

Imports in Africa

After three years of growth, overseas purchases of vermouth decreased by -27.7% to X litres in 2022. In general, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 56%. As a result, imports reached the peak of X litres, and then dropped notably in the following year.

In value terms, vermouth imports shrank markedly to $X in 2022. Total imports indicated slight growth from 2012 to 2022: its value increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +73.9% against 2016 indices. The growth pace was the most rapid in 2021 when imports increased by 49% against the previous year. As a result, imports reached the peak of $X, and then dropped notably in the following year.

Imports by Country

Burkina Faso (X litres), Ghana (X litres) and Democratic Republic of the Congo (X litres) represented roughly 43% of total imports in 2022. Nigeria (X litres) ranks next in terms of the total imports with a 7.8% share, followed by Cameroon (6.2%), Cote d'Ivoire (5.4%), Angola (5.3%) and Equatorial Guinea (4.7%). Kenya (X litres), Benin (X litres), Senegal (X litres), Guinea (X litres) and Congo (X litres) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Nigeria (with a CAGR of +52.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest vermouth importing markets in Africa were Democratic Republic of the Congo ($X), Ghana ($X) and Angola ($X), together accounting for 30% of total imports. Nigeria, Burkina Faso, Equatorial Guinea, Cote d'Ivoire, Senegal, Kenya, Cameroon, Benin, Guinea and Congo lagged somewhat behind, together accounting for a further 46%.

Nigeria, with a CAGR of +59.1%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Africa amounted to $X per litre, with an increase of 17% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.1%. The level of import peaked at $X per litre in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Senegal ($X per litre), while Burkina Faso ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (+5.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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