Canada: Vermouth Market 2024

Vermouth Market Size in Canada

The Canadian vermouth market dropped slightly to $X in 2022, shrinking by -3.8% against the previous year. In general, the total consumption indicated modest growth from 2012 to 2022: its value increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -8.2% against 2019 indices. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Vermouth Production in Canada

In value terms, vermouth production contracted to $X in 2022 estimated in export price. In general, the total production indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -7.4% against 2019 indices. The growth pace was the most rapid in 2015 when the production volume increased by 85%. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Vermouth Exports

Exports from Canada

In 2022, overseas shipments of vermouth increased by 282% to X litres, rising for the second consecutive year after three years of decline. Overall, exports showed a significant expansion. The pace of growth appeared the most rapid in 2013 when exports increased by 2,169% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.

In value terms, vermouth exports declined notably to $X in 2022. Over the period under review, exports posted a significant increase. The pace of growth was the most pronounced in 2013 with an increase of 1,024% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2021, and then contracted remarkably in the following year.

Exports by Country

Poland (X litres) was the main destination for vermouth exports from Canada, accounting for a 99% share of total exports. It was followed by Japan (X litres), with a 0.1% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Poland amounted to +314.5%.

In value terms, Poland ($X) remains the key foreign market for vermouth exports from Canada, comprising 96% of total exports. The second position in the ranking was held by Japan ($X), with a 0.8% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Poland amounted to -15.1%.

Export Prices by Country

The average vermouth export price stood at $X per litre in 2022, falling by -80.4% against the previous year. Over the period under review, the export price saw a sharp decrease. The growth pace was the most rapid in 2019 an increase of 512%. As a result, the export price reached the peak level of $X per litre. From 2020 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per litre), while the average price for exports to Poland totaled $X per litre.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+80.6%), while the prices for the other major destinations experienced more modest paces of growth.

Vermouth Imports

Imports into Canada

In 2022, the amount of vermouth imported into Canada stood at X litres, remaining stable against the year before. Over the period under review, imports, however, continue to indicate a mild descent. The pace of growth was the most pronounced in 2020 when imports increased by 14% against the previous year. Imports peaked at X litres in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, vermouth imports expanded sharply to $X in 2022. Overall, imports showed a relatively flat trend pattern. The growth pace was the most rapid in 2020 with an increase of 13% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in years to come.

Imports by Country

In 2022, Italy (X litres) constituted the largest supplier of vermouth to Canada, accounting for a 75% share of total imports. Moreover, vermouth imports from Italy exceeded the figures recorded by the second-largest supplier, France (X litres), fivefold. Spain (X litres) ranked third in terms of total imports with a 5.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Italy was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: France (-3.4% per year) and Spain (-5.4% per year).

In value terms, Italy ($X) constituted the largest supplier of vermouth to Canada, comprising 76% of total imports. The second position in the ranking was taken by France ($X), with a 15% share of total imports. It was followed by Spain, with a 4.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Italy totaled +1.6%. The remaining supplying countries recorded the following average annual rates of imports growth: France (-0.9% per year) and Spain (-5.2% per year).

Import Prices by Country

The average vermouth import price stood at $X per litre in 2022, with an increase of 4.8% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.6%. The pace of growth was the most pronounced in 2021 when the average import price increased by 12% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was France ($X per litre), while the price for the Czech Republic ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+2.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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