ASEAN: Market for Spirits, Liqueurs And Other Spirituous Beverages 2024

Market Size for Spirits, Liqueurs And Other Spirituous Beverages in ASEAN

The ASEAN market for spirits, liqueurs and other spirituous beverages amounted to $X in 2022, picking up by 2.1% against the previous year. The total consumption indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +6.3% 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 +8.0% against 2020 indices. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Production of Spirits, Liqueurs And Other Spirituous Beverages in ASEAN

In value terms, production of spirits, liqueurs and other spirituous beverages declined slightly to $X in 2022 estimated in export price. In general, production, however, showed a strong increase. The most prominent rate of growth was recorded in 2015 with an increase of 70%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Exports of Spirits, Liqueurs And Other Spirituous Beverages

Exports in ASEAN

In 2022, exports of spirits, liqueurs and other spirituous beverages in ASEAN contracted to X litres, waning by -10.5% on the previous year's figure. In general, exports continue to indicate a noticeable contraction. The pace of growth appeared the most rapid in 2019 when exports increased by 17% against the previous year. Over the period under review, the exports of hit record highs at X litres in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, exports of spirits, liqueurs and other spirituous beverages declined notably to $X in 2022. Over the period under review, exports showed a deep downturn. The most prominent rate of growth was recorded in 2013 with an increase of 18% against the previous year. Over the period under review, the exports of attained the maximum at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Vietnam (X litres) and Thailand (X litres) dominates beverages structure, together making up 90% of total exports. It was distantly followed by Singapore (X litres), committing a 6.5% share of total exports. Indonesia (X litres) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Indonesia (with a CAGR of +44.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest spirits, liqueurs and other spirituous beverages supplying countries in ASEAN were Thailand ($X), Vietnam ($X) and Singapore ($X), with a combined 98% share of total exports. These countries were followed by Indonesia, which accounted for a further 1.6%.

Indonesia, with a CAGR of +43.8%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in ASEAN stood at $X per litre in 2022, which is down by -51.8% against the previous year. In general, the export price saw a slight decline. The pace of growth appeared the most rapid in 2013 when the export price increased by 49% against the previous year. The level of export peaked at $X per litre in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Singapore ($X per litre), while Indonesia ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+13.3%), while the other leaders experienced more modest paces of growth.

Imports of Spirits, Liqueurs And Other Spirituous Beverages

Imports in ASEAN

Imports of spirits, liqueurs and other spirituous beverages soared to X litres in 2022, rising by 53% on 2021. The total import volume increased at an average annual rate of +3.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, imports of spirits, liqueurs and other spirituous beverages rose markedly to $X in 2022. The total import value increased at an average annual rate of +2.0% from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The growth pace was the most rapid in 2014 with an increase of 14% against the previous year. Over the period under review, imports of reached the peak figure in 2022 and are likely to see gradual growth in the near future.

Imports by Country

In 2022, Singapore (X litres) and Vietnam (X litres) represented the key importers of spirits, liqueurs and other spirituous beverages in ASEAN, together finishing at approx. 52% of total imports. It was distantly followed by the Philippines (X litres), Thailand (X litres), Cambodia (X litres) and Malaysia (X litres), together committing a 44% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Cambodia (with a CAGR of +37.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X) constitutes the largest market for imported spirits, liqueurs and other spirituous beverages in ASEAN, comprising 47% of total imports. The second position in the ranking was held by Thailand ($X), with a 17% share of total imports. It was followed by Vietnam, with a 13% share.

In Singapore, imports of spirits, liqueurs and other spirituous beverages remained relatively stable over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Thailand (+8.7% per year) and Vietnam (+13.0% per year).

Import Prices by Country

In 2022, the import price in ASEAN amounted to $X per litre, which is down by -26.7% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the import price increased by 22%. The level of import peaked at $X per litre in 2021, and then dropped remarkably in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+10.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform