Asia-Pacific: Vermouth Market 2024

Vermouth Market Size in Asia-Pacific

The Asia-Pacific vermouth market totaled $X in 2022, standing approx. at the previous year. The market value increased at an average annual rate of +2.3% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. Over the period under review, the market reached the maximum level at $X in 2018; afterwards, it flattened through to 2022.

Vermouth Production in Asia-Pacific

In value terms, vermouth production reached $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.3% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2014 with an increase of 11% against the previous year. The level of production peaked at $X in 2018; afterwards, it flattened through to 2022.

Vermouth Exports

Exports in Asia-Pacific

In 2022, overseas shipments of vermouth were finally on the rise to reach X litres after two years of decline. In general, exports continue to indicate a remarkable increase. Over the period under review, the exports hit record highs at X litres in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, vermouth exports surged to $X in 2022. Total exports indicated a measured expansion from 2012 to 2022: its value increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 with an increase of 63% against the previous year. As a result, the exports attained the peak of $X. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Australia was the key exporting country with an export of around X litres, which reached 57% of total exports. It was distantly followed by Singapore (X litres), China (X litres) and Thailand (X litres), together achieving a 35% share of total exports. The following exporters - Sri Lanka (X litres) and Vietnam (X litres) - each recorded a 5.7% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to vermouth exports from Australia stood at +24.1%. At the same time, Sri Lanka (+32.2%) and Thailand (+17.4%) displayed positive paces of growth. Moreover, Sri Lanka emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +32.2% from 2012-2022. By contrast, Singapore (-1.5%), Vietnam (-6.0%) and China (-6.4%) illustrated a downward trend over the same period. Australia (+45 p.p.), Thailand (+5.7 p.p.) and Sri Lanka (+2.8 p.p.) significantly strengthened its position in terms of the total exports, while Vietnam, Singapore and China saw its share reduced by -5.9%, -15.6% and -28.2% from 2012 to 2022, respectively.

In value terms, the largest vermouth supplying countries in Asia-Pacific were Australia ($X), Singapore ($X) and Thailand ($X), with a combined 81% share of total exports. China, Sri Lanka and Vietnam lagged somewhat behind, together accounting for a further 13%.

Sri Lanka, with a CAGR of +31.1%, saw the highest rates of growth with regard to the value of exports, among 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

In 2022, the export price in Asia-Pacific amounted to $X per litre, declining by -8.2% against the previous year. In general, the export price recorded a mild downturn. The most prominent rate of growth was recorded in 2015 when the export price increased by 50%. As a result, the export price reached the peak level of $X per litre. From 2016 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 ($X per litre), while Vietnam ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+3.2%), while the other leaders experienced mixed trends in the export price figures.

Vermouth Imports

Imports in Asia-Pacific

In 2022, overseas purchases of vermouth decreased by -1.2% to X litres for the first time since 2019, thus ending a two-year rising trend. Total imports indicated a resilient expansion from 2012 to 2022: its volume increased at an average annual rate of +5.9% 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 +3.5% against 2019 indices. The most prominent rate of growth was recorded in 2014 with an increase of 42% against the previous year. Over the period under review, imports attained the maximum at X litres in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, vermouth imports dropped slightly to $X in 2022. Total imports indicated a strong 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, imports increased by +12.2% against 2020 indices. The pace of growth was the most pronounced in 2013 with an increase of 27%. The level of import peaked at $X in 2021, and then fell in the following year.

Imports by Country

Japan (X litres), Thailand (X litres), South Korea (X litres), China (X litres) and Australia (X litres) represented roughly 78% of total imports in 2022. The following importers - Macao SAR (X litres), Taiwan (Chinese) (X litres), Singapore (X litres), New Zealand (X litres) and the Philippines (X litres) - together made up 14% of total imports.

From 2012 to 2022, the biggest increases were recorded for Macao SAR (with a CAGR of +57.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest vermouth importing markets in Asia-Pacific were Japan ($X), Thailand ($X) and Australia ($X), together accounting for 50% of total imports. South Korea, China, Singapore, Taiwan (Chinese), New Zealand, Macao SAR and the Philippines lagged somewhat behind, together accounting for a further 40%.

Macao SAR, with a CAGR of +26.1%, saw the highest rates of growth with regard to 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 Asia-Pacific amounted to $X per litre, waning by -2.4% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the import price increased by 14%. Over the period under review, import prices attained the maximum at $X per litre in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+8.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :