ASEAN: Wine Market 2024

Wine Market Size in ASEAN

The ASEAN wine market declined to $X in 2022, dropping by X% against the previous year. In general, consumption saw a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market failed to regain momentum.

Wine Production in ASEAN

In value terms, wine production reduced modestly to $X in 2022 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a somewhat lower figure.

Wine Exports

Exports in ASEAN

In 2022, shipments abroad of wine and grape must increased by X% to X litres, rising for the second consecutive year after two years of decline. The total export volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of X%. The volume of export peaked in 2022 and is expected to retain growth in the near future.

In value terms, wine exports stood at $X in 2022. The total export value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of X%. Over the period under review, the exports attained the peak figure in 2022 and are likely to see steady growth in the immediate term.

Exports by Country

Singapore (X litres) and Thailand (X litres) dominates exports structure, together mixing up X% of total exports. Malaysia (X litres) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Thailand (with a CAGR of X%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, Singapore ($X) remains the largest wine supplier in ASEAN, comprising X% of total exports. The second position in the ranking was held by Thailand ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Singapore totaled X%. The remaining exporting countries recorded the following average annual rates of exports growth: Thailand (X% per year) and Malaysia (X% per year).

Export Prices by Country

The export price in ASEAN stood at $X per litre in 2022, waning by X% against the previous year. Overall, the export price recorded a mild shrinkage. The most prominent rate of growth was recorded in 2019 when the export price increased by X%. Over the period under review, the export prices reached the maximum at $X per litre in 2021, and then shrank rapidly in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per litre), while Thailand ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (X%), while the other leaders experienced mixed trends in the export price figures.

Wine Imports

Imports in ASEAN

In 2022, purchases abroad of wine and grape must increased by X% to X litres, rising for the second consecutive year after three years of decline. The total import volume increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, wine imports rose sharply to $X in 2022. Total imports indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

Imports by Country

Singapore (X litres) and Malaysia (X litres) were the largest importers of wine and grape must in 2022, resulting at near X% and X% of total imports, respectively. Thailand (X litres) took the next position in the ranking, followed by the Philippines (X litres), Vietnam (X litres) and Lao People's Democratic Republic (X litres). All these countries together held approx. X% share of total imports. The following importers - Myanmar (X litres) and Indonesia (X litres) - each amounted to a X% share of total imports.

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

In value terms, Singapore ($X) constitutes the largest market for imported wine and grape must in ASEAN, comprising X% of total imports. The second position in the ranking was taken by Malaysia ($X), with an X% share of total imports. It was followed by Thailand, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Singapore stood at X%. In the other countries, the average annual rates were as follows: Malaysia (X% per year) and Thailand (X% per year).

Import Prices by Country

In 2022, the import price in ASEAN amounted to $X per litre, dropping by X% against the previous year. Import price indicated a moderate expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, wine import price increased by X% against 2016 indices. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. As a result, import price reached the peak level of $X per litre, and then shrank significantly in the following year.

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

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

Source: IndexBox Platform