Denmark: Vermouth Market 2024

Vermouth Market Size in Denmark

The Danish vermouth market fell to $X in 2022, shrinking by -8% against the previous year. Over the period under review, consumption, however, saw a abrupt decline. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Vermouth Production in Denmark

In value terms, vermouth production contracted notably to $X in 2022 estimated in export price. Over the period under review, production faced a dramatic contraction. The pace of growth appeared the most rapid in 2016 when the production volume increased by 261% against the previous year. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Vermouth Exports

Exports from Denmark

In 2022, shipments abroad of vermouth increased by 24% to X litres, rising for the second year in a row after two years of decline. Overall, exports, however, showed a precipitous contraction. The growth pace was the most rapid in 2021 with an increase of 30% against the previous year. The exports peaked at X litres in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, vermouth exports soared to $X in 2022. In general, exports, however, saw a sharp curtailment. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Germany (X litres), the Czech Republic (X litres) and Poland (X litres) were the main destinations of vermouth exports from Denmark, with a combined 87% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Poland (with a CAGR of +142.1%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, Poland ($X) emerged as the key foreign market for vermouth exports from Denmark, comprising 53% of total exports. The second position in the ranking was taken by Germany ($X), with a 19% share of total exports. It was followed by the Czech Republic, with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Poland amounted to +167.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-14.0% per year) and the Czech Republic (+33.1% per year).

Export Prices by Country

In 2022, the average vermouth export price amounted to $X per litre, rising by 50% against the previous year. In general, export price indicated strong growth from 2012 to 2022: its price increased at an average annual rate of +5.0% 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 +62.0% against 2019 indices. The pace of growth appeared the most rapid in 2016 when the average export price increased by 53%. The export price peaked in 2022 and is likely to see steady growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Poland ($X per litre), while the average price for exports to Norway ($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 the Czech Republic (+26.5%), while the prices for the other major destinations experienced more modest paces of growth.

Vermouth Imports

Imports into Denmark

In 2022, overseas purchases of vermouth increased by 17% to X litres, rising for the second consecutive year after two years of decline. Over the period under review, imports, however, showed a abrupt slump. The pace of growth was the most pronounced in 2018 with an increase of 33% against the previous year. Over the period under review, imports attained the peak figure at X litres in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, vermouth imports reduced to $X in 2022. Overall, imports, however, recorded a perceptible decline. The most prominent rate of growth was recorded in 2018 with an increase of 43% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Italy (X litres), Spain (X litres) and France (X litres) were the main suppliers of vermouth imports to Denmark, with a combined 80% share of total imports. Poland, Sweden, Germany and Finland lagged somewhat behind, together comprising a further 19%.

From 2012 to 2022, the biggest increases were recorded for Poland (with a CAGR of +141.7%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, Italy ($X), France ($X) and Spain ($X) appeared to be the largest vermouth suppliers to Denmark, with a combined 66% share of total imports. Finland, Poland, Sweden and Germany lagged somewhat behind, together accounting for a further 30%.

Poland, with a CAGR of +148.0%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average vermouth import price amounted to $X per litre, dropping by -18.2% against the previous year. Overall, import price indicated moderate growth from 2012 to 2022: its price increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when the average import price increased by 18% against the previous year. Over the period under review, average import prices attained the peak figure at $X per litre in 2021, and then dropped notably in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Finland (+29.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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