Eastern Asia: Market for Cider, Perry, Mead And Other Fermented Beverages 2024

Market Size for Cider, Perry, Mead And Other Fermented Beverages in Eastern Asia

After three years of growth, the East Asian cider, perry and mead market decreased by -9.4% to $X in 2021. The market value increased at an average annual rate of +2.3% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X, and then dropped in the following year.

Production of Cider, Perry, Mead And Other Fermented Beverages in Eastern Asia

In value terms, cider, perry and mead production declined to $X in 2021 estimated in export price. The total production indicated a perceptible increase from 2012 to 2021: its value increased at an average annual rate of +3.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +40.1% against 2017 indices. The most prominent rate of growth was recorded in 2020 with an increase of 21%. As a result, production reached the peak level of $X, and then declined in the following year.

Exports of Cider, Perry, Mead And Other Fermented Beverages

Exports in Eastern Asia

In 2021, shipments abroad of cider, perry, mead and other fermented beverages was finally on the rise to reach X litres after three years of decline. Overall, exports, however, showed a abrupt contraction. The volume of export peaked at X litres in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, cider, perry and mead exports soared to $X in 2021. The total export value increased at an average annual rate of +4.0% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

South Korea represented the key exporter of cider, perry, mead and other fermented beverages in Eastern Asia, with the volume of exports recording X litres, which was near 55% of total exports in 2021. Japan (X litres) held a 31% share (based on physical terms) of total exports, which put it in second place, followed by China (11%). Hong Kong SAR (X litres) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Hong Kong SAR (with a CAGR of +19.4%), while the other leaders experienced mixed trends in the exports figures.

In value terms, Japan ($X) remains the largest cider, perry and mead supplier in Eastern Asia, comprising 76% of total exports. The second position in the ranking was taken by South Korea ($X), with an 11% share of total exports. It was followed by China, with a 6.6% share.

In Japan, cider, perry and mead exports increased at an average annual rate of +13.9% over the period from 2012-2021. In the other countries, the average annual rates were as follows: South Korea (-12.7% per year) and China (-0.5% per year).

Export Prices by Country

In 2021, the export price in Eastern Asia amounted to $X per litre, surging by 31% against the previous year. Over the period under review, the export price showed a strong increase. The most prominent rate of growth was recorded in 2019 an increase of 33% against the previous year. Over the period under review, the export prices reached the maximum in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per litre), while South Korea ($X per litre) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+6.5%), while the other leaders experienced more modest paces of growth.

Imports of Cider, Perry, Mead And Other Fermented Beverages

Imports in Eastern Asia

In 2021, overseas purchases of cider, perry, mead and other fermented beverages increased by 2.9% to X litres, rising for the second consecutive year after two years of decline. Overall, imports, however, saw a deep slump. The pace of growth was the most pronounced in 2020 with an increase of 5%. Over the period under review, imports hit record highs at X litres in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, cider, perry and mead imports surged to $X in 2021. The total import value increased at an average annual rate of +1.2% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Japan (X litres) was the largest importer of cider, perry, mead and other fermented beverages, generating 49% of total imports. It was distantly followed by South Korea (X litres), China (X litres) and Hong Kong SAR (X litres), together constituting a 46% share of total imports. Taiwan (Chinese) (X litres) followed a long way behind the leaders.

Imports into Japan decreased at an average annual rate of -12.5% from 2012 to 2021. At the same time, China (+24.2%), South Korea (+20.5%), Taiwan (Chinese) (+9.8%) and Hong Kong SAR (+6.9%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +24.2% from 2012-2021. While the share of South Korea (+19 p.p.), China (+14 p.p.), Hong Kong SAR (+6.4 p.p.) and Taiwan (Chinese) (+2.9 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Japan (-42.9 p.p.) displayed negative dynamics.

In value terms, the largest cider, perry and mead importing markets in Eastern Asia were China ($X), Hong Kong SAR ($X) and Japan ($X), with a combined 77% share of total imports.

In terms of the main importing countries, China, with a CAGR of +32.1%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Eastern Asia stood at $X per litre in 2021, surging by 22% against the previous year. In general, the import price posted a buoyant expansion. The pace of growth was the most pronounced in 2018 an increase of 27%. Over the period under review, import prices hit record highs in 2021 and is likely to continue growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Hong Kong SAR ($X per litre), while Japan ($X per litre) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+6.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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