Asia: Vermouth Market 2024

Vermouth Market Size in Asia

The Asian vermouth market totaled $X in 2022, approximately mirroring the previous year. The market value increased at an average annual rate of +2.5% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. Over the period under review, the market attained the peak level at $X in 2020; afterwards, it flattened through to 2022.

Vermouth Production in Asia

In value terms, vermouth production amounted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.6% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The growth pace was the most rapid in 2014 when the production volume increased by 9.3% against the previous year. Over the period under review, production attained the maximum level at $X in 2020; afterwards, it flattened through to 2022.

Vermouth Exports

Exports in Asia

In 2022, after two years of decline, there was significant growth in shipments abroad of vermouth, when their volume increased by 51% to X litres. In general, exports, however, saw a relatively flat trend pattern. The volume of export peaked at X litres in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, vermouth exports soared to $X in 2022. Total exports indicated a modest expansion from 2012 to 2022: its value increased at an average annual rate of +1.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +91.8% against 2020 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2022, Singapore (X litres), Georgia (X litres), China (X litres) and Thailand (X litres) was the largest exporter of vermouth in Asia, achieving 76% of total export. It was distantly followed by Sri Lanka (X litres), making up a 4.9% share of total exports. The following exporters - Vietnam (X litres) and the United Arab Emirates (X litres) - each resulted at a 7.9% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Sri Lanka (with a CAGR of +32.2%), while the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X), Georgia ($X) and Thailand ($X) were the countries with the highest levels of exports in 2022, with a combined 72% share of total exports. China, Sri Lanka, the United Arab Emirates and Vietnam lagged somewhat behind, together accounting for a further 18%.

In terms of the main exporting countries, Sri Lanka, with a CAGR of +31.1%, saw the highest rates of growth with regard to the value of exports, 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 Asia stood at $X per litre in 2022, with an increase of 4.7% against the previous year. Over the last decade, it increased at an average annual rate of +1.7%. The pace of growth was the most pronounced in 2021 an increase of 31%. The level of export peaked in 2022 and is likely to continue growth in the immediate term.

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 more modest paces of growth.

Vermouth Imports

Imports in Asia

In 2022, imports of vermouth in Asia was estimated at X litres, increasing by 8.4% compared with 2021 figures. Total imports indicated a remarkable increase from 2012 to 2022: its volume increased at an average annual rate of +6.2% 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 +19.4% against 2020 indices. The pace of growth appeared the most rapid in 2014 when imports increased by 34% against the previous year. The volume of import peaked in 2022 and is likely to continue growth in the immediate term.

In value terms, vermouth imports expanded notably to $X in 2022. Total imports indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +6.2% 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 +27.8% against 2020 indices. The pace of growth appeared the most rapid in 2014 when imports increased by 29%. The level of import peaked in 2022 and is likely to see gradual growth in the immediate term.

Imports by Country

The purchases of the six major importers of vermouth, namely Japan, Thailand, Kazakhstan, South Korea, China and Mongolia, represented more than two-thirds of total import. Turkey (X litres), the United Arab Emirates (X litres), Israel (X litres), Macao SAR (X litres), Taiwan (Chinese) (X litres) and Singapore (X litres) followed a long way behind the leaders.

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, Japan ($X), Thailand ($X) and South Korea ($X) constituted the countries with the highest levels of imports in 2022, together accounting for 38% of total imports. China, the United Arab Emirates, Kazakhstan, Singapore, Mongolia, Turkey, Israel, Taiwan (Chinese) and Macao SAR lagged somewhat behind, together accounting for a further 48%.

Macao SAR, with a CAGR of +26.1%, recorded the highest growth rate of the value of imports, in terms of 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 amounted to $X per litre, picking up by 1.8% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 an increase of 8.1%. As a result, import price reached the peak level of $X per litre. From 2014 to 2022, the import prices remained at a somewhat lower figure.

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) :