Czech Republic: Vermouth Market 2024

Vermouth Market Size in the Czech Republic

The Czech vermouth market totaled $X in 2022, standing approx. at the previous year. The market value increased at an average annual rate of +1.2% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Vermouth Production in the Czech Republic

In value terms, vermouth production surged to $X in 2022 estimated in export price. Over the period under review, the total production indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of +3.5% 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 -11.6% against 2020 indices. The most prominent rate of growth was recorded in 2020 with an increase of 87% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Vermouth Exports

Exports from the Czech Republic

In 2022, exports of vermouth from the Czech Republic surged to X litres, jumping by 17% against the year before. Over the period under review, exports recorded a resilient expansion. The pace of growth appeared the most rapid in 2013 with an increase of 388% against the previous year. As a result, the exports attained the peak of X litres. From 2014 to 2022, the growth of the exports remained at a lower figure.

In value terms, vermouth exports expanded remarkably to $X in 2022. In general, exports saw strong growth. The growth pace was the most rapid in 2013 with an increase of 456% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Slovakia (X litres), Canada (X litres) and Romania (X litres) were the main destinations of vermouth exports from the Czech Republic, with a combined 62% share of total exports. The United States, Germany, Bulgaria, the Netherlands and Italy lagged somewhat behind, together accounting for a further 27%.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of +88.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for vermouth exported from the Czech Republic were Germany ($X), Canada ($X) and the United States ($X), with a combined 38% share of total exports. Slovakia, the Netherlands, Romania, Italy and Bulgaria lagged somewhat behind, together comprising a further 30%.

The Netherlands, with a CAGR of +84.2%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average vermouth export price stood at $X per litre in 2022, shrinking by -1.7% against the previous year. Overall, export price indicated a remarkable increase from 2012 to 2022: its price increased at an average annual rate of +6.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, vermouth export price increased by +69.6% against 2019 indices. The most prominent rate of growth was recorded in 2020 an increase of 35% against the previous year. Over the period under review, the average export prices attained the maximum at $X per litre in 2021, and then shrank in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Italy ($X per litre), while the average price for exports to Bulgaria ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+27.2%), while the prices for the other major destinations experienced more modest paces of growth.

Vermouth Imports

Imports into the Czech Republic

In 2022, supplies from abroad of vermouth decreased by -15.3% to X litres, falling for the fourth consecutive year after two years of growth. In general, imports showed a noticeable slump. The growth pace was the most rapid in 2018 when imports increased by 43% against the previous year. As a result, imports attained the peak of X litres. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, vermouth imports fell to $X in 2022. Over the period under review, imports showed a noticeable setback. The pace of growth appeared the most rapid in 2018 when imports increased by 26% against the previous year. As a result, imports attained the peak of $X. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Germany (X litres) constituted the largest supplier of vermouth to the Czech Republic, accounting for a 55% share of total imports. Moreover, vermouth imports from Germany exceeded the figures recorded by the second-largest supplier, Italy (X litres), twofold. The third position in this ranking was taken by Spain (X litres), with a 12% share.

From 2012 to 2022, the average annual growth rate of volume from Germany amounted to -1.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-5.0% per year) and Spain (-3.0% per year).

In value terms, Italy ($X), Germany ($X) and Spain ($X) were the largest vermouth suppliers to the Czech Republic, together accounting for 86% of total imports. Hungary lagged somewhat behind, comprising a further 0.7%.

Among the main suppliers, Hungary, with a CAGR of +42.9%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average vermouth import price stood at $X per litre in 2022, growing by 8.3% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2013 an increase of 16%. As a result, import price attained the peak level of $X per litre. From 2014 to 2022, the average import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+0.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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