CIS: Vermouth Market 2024

Vermouth Market Size in CIS

The CIS vermouth market amounted to $X in 2022, surging by 3.8% against the previous year. Overall, consumption, however, saw a mild downturn. The most prominent rate of growth was recorded in 2017 with an increase of 9.7% against the previous year. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Vermouth Production in CIS

In value terms, vermouth production shrank slightly to $X in 2022 estimated in export price. In general, production, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 with an increase of 46% against the previous year. The level of production peaked at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Vermouth Exports

Exports in CIS

Vermouth exports dropped significantly to X litres in 2022, shrinking by -21.5% on the previous year's figure. Over the period under review, exports, however, saw a resilient increase. The growth pace was the most rapid in 2014 with an increase of 95%. The volume of export peaked at X litres in 2021, and then dropped notably in the following year.

In value terms, vermouth exports fell to $X in 2022. In general, exports, however, recorded strong growth. The most prominent rate of growth was recorded in 2014 when exports increased by 78% against the previous year. The level of export peaked at $X in 2021, and then dropped in the following year.

Exports by Country

In 2022, Moldova (X litres) was the largest exporter of vermouth, mixing up 79% of total exports. It was distantly followed by Belarus (X litres) and Uzbekistan (X litres), together constituting a 16% share of total exports. Kazakhstan (X litres) held a little share of total exports.

Exports from Moldova increased at an average annual rate of +7.8% from 2012 to 2022. At the same time, Kazakhstan (+18.9%) and Belarus (+12.8%) displayed positive paces of growth. Moreover, Kazakhstan emerged as the fastest-growing exporter exported in the CIS, with a CAGR of +18.9% from 2012-2022. By contrast, Uzbekistan (-7.6%) illustrated a downward trend over the same period. Uzbekistan (+4.9 p.p.), Belarus (+3.4 p.p.) and Kazakhstan (+3.4 p.p.) significantly strengthened its position in terms of the total exports, while Moldova saw its share reduced by -6.3% from 2012 to 2022, respectively.

In value terms, the largest vermouth supplying countries in the CIS were Moldova ($X), Belarus ($X) and Kazakhstan ($X), with a combined 96% share of total exports.

Among the main exporting countries, Kazakhstan, with a CAGR of +17.9%, 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 the CIS stood at $X per litre in 2022, increasing by 16% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when the export price increased by 27%. As a result, the export price attained the peak level of $X per litre. From 2017 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 Belarus ($X per litre), while Uzbekistan ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Uzbekistan (+11.9%), while the other leaders experienced mixed trends in the export price figures.

Vermouth Imports

Imports in CIS

In 2022, after two years of decline, there was growth in overseas purchases of vermouth, when their volume increased by 3% to X litres. In general, imports, however, showed a drastic downturn. The most prominent rate of growth was recorded in 2019 when imports increased by 92% against the previous year. Over the period under review, imports reached the maximum at X litres in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, vermouth imports amounted to $X in 2022. Overall, imports, however, recorded a noticeable reduction. The most prominent rate of growth was recorded in 2017 when imports increased by 45%. The level of import peaked at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Russia (X litres) was the largest importer of vermouth, making up 77% of total imports. Kazakhstan (X litres) held a 12% share (based on physical terms) of total imports, which put it in second place, followed by Belarus (9.8%).

Imports into Russia decreased at an average annual rate of -8.9% from 2012 to 2022. At the same time, Belarus (+9.4%) and Kazakhstan (+7.3%) displayed positive paces of growth. Moreover, Belarus emerged as the fastest-growing importer imported in the CIS, with a CAGR of +9.4% from 2012-2022. From 2012 to 2022, the share of Kazakhstan and Belarus increased by +9 and +7.9 percentage points, respectively.

In value terms, Russia ($X) constitutes the largest market for imported vermouth in the CIS, comprising 73% of total imports. The second position in the ranking was taken by Belarus ($X), with a 16% share of total imports.

In Russia, vermouth imports shrank by an average annual rate of -6.1% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Belarus (+7.4% per year) and Kazakhstan (+5.2% per year).

Import Prices by Country

In 2022, the import price in the CIS amounted to $X per litre, standing approx. at the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.1%. The most prominent rate of growth was recorded in 2020 when the import price increased by 33%. The level of import peaked at $X per litre in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Belarus ($X per litre), while Kazakhstan ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (+3.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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