ASEAN: Wine Market 2024

Wine Market Size in ASEAN

The ASEAN wine market soared to $X in 2021, jumping by 74% against the previous year. The total consumption indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +8.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Wine Production in ASEAN

In value terms, wine production reduced notably to $X in 2021 estimated in export price. The total production indicated noticeable growth from 2012 to 2021: its value increased at an average annual rate of +3.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +47.1% against 2017 indices. The growth pace was the most rapid in 2018 with an increase of 65% against the previous year. Over the period under review, production hit record highs at $X in 2020, and then reduced remarkably in the following year.

Wine Exports

Exports in ASEAN

After two years of decline, overseas shipments of wine increased by 29% to X litres in 2021. The total export volume increased at an average annual rate of +3.6% 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 exports reached the peak figure at X litres in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, wine exports soared to $X in 2021. The total export value increased at an average annual rate of +3.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Singapore (X litres) and Thailand (X litres) dominates exports structure, together comprising 96% of total exports. Malaysia (X litres) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Malaysia (with a CAGR of +18.2%), while the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X) remains the largest wine supplier in ASEAN, comprising 91% of total exports. The second position in the ranking was taken by Thailand ($X), with a 7.6% share of total exports.

In Singapore, wine exports expanded at an average annual rate of +3.7% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Thailand (+7.6% per year) and Malaysia (+16.8% per year).

Export Prices by Country

In 2021, the export price in ASEAN amounted to $X per litre, increasing by 22% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the export price increased by 26%. The level of export peaked at $X per litre in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, 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 2021, the most notable rate of growth in terms of prices was attained by Singapore (+3.0%), while the other leaders experienced a decline in the export price figures.

Wine Imports

Imports in ASEAN

In 2021, imports of wine in ASEAN surged to X litres, rising by 43% on 2020 figures. The total import volume increased at an average annual rate of +2.2% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, imports hit record highs at X litres in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, wine imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +5.6% from 2012 to 2021; 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.

Imports by Country

Singapore was the major importer of wine in ASEAN, with the volume of imports accounting for X litres, which was near 51% of total imports in 2021. Malaysia (X litres) held the second position in the ranking, followed by the Philippines (X litres), Vietnam (X litres) and Thailand (X litres). All these countries together held near 43% share of total imports. Myanmar (X litres) and Indonesia (X litres) followed a long way behind the leaders.

Imports into Singapore increased at an average annual rate of +7.9% from 2012 to 2021. At the same time, Indonesia (+35.9%), Myanmar (+23.5%) and Vietnam (+5.9%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing importer imported in ASEAN, with a CAGR of +35.9% from 2012-2021. By contrast, Malaysia (-3.4%), the Philippines (-3.5%) and Thailand (-6.1%) illustrated a downward trend over the same period. While the share of Singapore (+20 p.p.), Vietnam (+3 p.p.), Myanmar (+2.2 p.p.) and Indonesia (+2.1 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of the Philippines (-7.4 p.p.), Malaysia (-8.6 p.p.) and Thailand (-9.4 p.p.) displayed negative dynamics.

In value terms, Singapore ($X) constitutes the largest market for imported wine in ASEAN, comprising 80% of total imports. The second position in the ranking was taken by Malaysia ($X), with a 7.8% share of total imports. It was followed by Thailand, with a 4.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Singapore totaled +6.7%. The remaining importing countries recorded the following average annual rates of imports growth: Malaysia (+0.2% per year) and Thailand (+1.1% per year).

Import Prices by Country

In 2021, the import price in ASEAN amounted to $X per litre, increasing by 4.2% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.3%. The most prominent rate of growth was recorded in 2020 when the import price increased by 25%. Over the period under review, import prices hit record highs in 2021 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2021, 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 2021, the most notable rate of growth in terms of prices was attained by Thailand (+7.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform