Asia-Pacific: Market for Spirits, Liqueurs And Other Spirituous Beverages 2024

Market Size for Spirits, Liqueurs And Other Spirituous Beverages in Asia-Pacific

The Asia-Pacific market for spirits, liqueurs and other spirituous beverages declined to $X in 2022, falling by -1.9% against the previous year. Overall, consumption showed a strong expansion. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Production of Spirits, Liqueurs And Other Spirituous Beverages in Asia-Pacific

In value terms, production of spirits, liqueurs and other spirituous beverages fell to $X in 2022 estimated in export price. In general, production posted buoyant growth. The growth pace was the most rapid in 2015 when the production volume increased by 45%. Over the period under review, production of attained the peak level 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 Asia-Pacific

In 2022, approx. X litres of spirits, liqueurs and other spirituous beverages were exported in Asia-Pacific; with a decrease of -3% compared with the year before. In general, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by 19%. As a result, the exports reached the peak of X litres, and then contracted in the following year.

In value terms, exports of spirits, liqueurs and other spirituous beverages contracted slightly to $X in 2022. The total export value increased at an average annual rate of +3.4% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2018 when exports increased by 24% against the previous year. Over the period under review, the exports of attained the peak figure at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, South Korea (X litres) was the largest exporter of spirits, liqueurs and other spirituous beverages, constituting 44% of total exports. It was distantly followed by Japan (X litres), China (X litres) and Australia (X litres), together committing a 38% share of total exports. Vietnam (X litres), Thailand (X litres) and New Zealand (X litres) held a little share of total exports.

South Korea experienced a relatively flat trend pattern with regard to volume of exports of spirits, liqueurs and other spirituous beverages. At the same time, Japan (+18.1%) and Vietnam (+8.2%) displayed positive paces of growth. Moreover, Japan emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +18.1% from 2012-2022. Thailand and China experienced a relatively flat trend pattern. By contrast, Australia (-4.2%) and New Zealand (-6.7%) illustrated a downward trend over the same period. Japan (+16 p.p.) and Vietnam (+2 p.p.) significantly strengthened its position in terms of the total exports, while Australia, New Zealand and South Korea saw its share reduced by -3.4%, -3.9% and -4.2% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest spirits, liqueurs and other spirituous beverages supplier in Asia-Pacific, comprising 50% of total exports. The second position in the ranking was taken by South Korea ($X), with an 11% share of total exports. It was followed by Japan, with a 9.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China stood at +7.3%. In the other countries, the average annual rates were as follows: South Korea (-2.2% per year) and Japan (+10.4% per year).

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per litre, growing by 2.1% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.6%. The most prominent rate of growth was recorded in 2015 an increase of 20%. The level of export peaked at $X per litre in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was China ($X per litre), while South Korea ($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 Asia-Pacific

In 2022, the amount of spirits, liqueurs and other spirituous beverages imported in Asia-Pacific rose remarkably to X litres, with an increase of 15% against 2021. The total import volume increased at an average annual rate of +2.5% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor 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, imports of spirits, liqueurs and other spirituous beverages skyrocketed to $X in 2022. Total imports indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of +4.4% 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 +71.0% against 2015 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

The purchases of the five major importers of spirits, liqueurs and other spirituous beverages, namely Japan, Australia, China, South Korea and India, represented more than two-thirds of total import. Singapore (X litres) took a 5.5% share (based on physical terms) of total imports, which put it in second place, followed by Vietnam (4.7%). New Zealand (X litres) held a minor share of total imports.

From 2012 to 2022, the biggest increases were recorded for South Korea (with a CAGR of +16.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Australia ($X), China ($X) and Japan ($X) constituted the countries with the highest levels of imports in 2022, with a combined 44% share of total imports. These countries were followed by Singapore, India, South Korea, New Zealand and Vietnam, which together accounted for a further 27%.

South Korea, with a CAGR of +15.9%, recorded 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

The import price in Asia-Pacific stood at $X per litre in 2022, increasing by 4.4% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.8%. The growth pace was the most rapid in 2018 an increase of 20%. The level of import peaked in 2022 and is expected to retain growth in the near future.

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 ($X per litre), while Vietnam ($X per litre) was amongst the lowest.

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

Source: IndexBox Platform