ASEAN: Soft Drink Market 2024

Soft Drink Market Size in ASEAN

The ASEAN soft drink market expanded markedly to $X in 2021, increasing by 8.3% against the previous year. The market value increased at an average annual rate of +2.8% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Soft Drink Production in ASEAN

In value terms, soft drink production expanded rapidly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2018 with an increase of 24% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Soft Drink Exports

Exports in ASEAN

After two years of growth, overseas shipments of soft drinks decreased by -18.9% to X litres in 2021. Overall, exports, however, posted a prominent expansion. The pace of growth was the most pronounced in 2014 with an increase of 36% against the previous year. The volume of export peaked at X litres in 2020, and then contracted notably in the following year.

In value terms, soft drink exports reached $X in 2021. Total exports indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +8.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -3.8% against 2019 indices. The pace of growth was the most pronounced in 2014 when exports increased by 22%. The level of export peaked at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Thailand was the main exporter of soft drinks in ASEAN, with the volume of exports reaching X litres, which was approx. 64% of total exports in 2021. Malaysia (X litres) ranks second in terms of the total exports with a 17% share, followed by Lao People's Democratic Republic (9.2%). The following exporters - Vietnam (X litres), Indonesia (X litres) and Singapore (X litres) - together made up 8.5% of total exports.

From 2012 to 2021, average annual rates of growth with regard to soft drink exports from Thailand stood at +14.0%. At the same time, Lao People's Democratic Republic (+30.5%), Vietnam (+11.9%), Indonesia (+6.1%) and Malaysia (+3.5%) displayed positive paces of growth. Moreover, Lao People's Democratic Republic emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +30.5% from 2012-2021. By contrast, Singapore (-7.5%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Thailand and Lao People's Democratic Republic increased by +16 and +7.1 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X) remains the largest soft drink supplier in ASEAN, comprising 67% of total exports. The second position in the ranking was taken by Malaysia ($X), with a 13% share of total exports. It was followed by Lao People's Democratic Republic, with a 9.3% share.

In Thailand, soft drink exports increased at an average annual rate of +10.2% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Malaysia (+0.4% per year) and Lao People's Democratic Republic (+23.9% per year).

Export Prices by Country

In 2021, the export price in ASEAN amounted to $X per litre, with an increase of 26% against the previous year. In general, the export price, however, showed a pronounced setback. The pace of growth appeared the most rapid in 2018 an increase of 29%. Over the period under review, the export prices hit record highs at $X per litre in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Singapore ($X per litre), while Malaysia ($X per litre) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+2.7%), while the other leaders experienced mixed trends in the export price figures.

Soft Drink Imports

Imports in ASEAN

In 2021, after two years of decline, there was significant growth in supplies from abroad of soft drinks, when their volume increased by 51% to X litres. Overall, imports continue to indicate a resilient expansion. The most prominent rate of growth was recorded in 2017 when imports increased by 62%. Over the period under review, imports reached the peak figure in 2021 and are expected to retain growth in the immediate term.

In value terms, soft drink imports surged to $X in 2021. In general, imports saw a strong expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

The countries with the highest levels of soft drink imports in 2021 were Vietnam (X litres), Cambodia (X litres) and Singapore (X litres), together recording 72% of total import. Indonesia (X litres) held a 6.4% share (based on physical terms) of total imports, which put it in second place, followed by the Philippines (5.7%) and Lao People's Democratic Republic (5.1%). Myanmar (X litres) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Vietnam (with a CAGR of +49.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X), Cambodia ($X) and Singapore ($X) constituted the countries with the highest levels of imports in 2021, together comprising 75% of total imports.

In terms of the main importing countries, Vietnam, with a CAGR of +49.8%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in ASEAN amounted to $X per litre, growing by 14% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.2%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Cambodia ($X per litre), while Singapore ($X per litre) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cambodia (+5.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform