Eastern Asia: Gin And Geneva Market 2024

Gin And Geneva Market Size in Eastern Asia

In 2022, the East Asian gin and geneva market decreased by -2.2% to $X, falling for the third consecutive year after four years of growth. Over the period under review, consumption, however, showed a resilient expansion. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Gin And Geneva Production in Eastern Asia

In value terms, gin and geneva production declined to $X in 2022 estimated in export price. Overall, production, however, showed a prominent expansion. The pace of growth was the most pronounced in 2013 with an increase of 53%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Gin And Geneva Exports

Exports in Eastern Asia

In 2022, overseas shipments of gin and geneva increased by 25% to X litres, rising for the second year in a row after two years of decline. Over the period under review, exports showed a significant increase. The pace of growth was the most pronounced in 2017 with an increase of 77%. The volume of export peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, gin and geneva exports skyrocketed to $X in 2022. In general, exports posted a significant expansion. The growth pace was the most rapid in 2017 with an increase of 215% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are likely to see steady growth in years to come.

Exports by Country

Japan dominates exports structure, finishing at X litres, which was near 90% of total exports in 2022. It was distantly followed by China (X litres), comprising a 6% share of total exports. South Korea (X litres) followed a long way behind the leaders.

Japan was also the fastest-growing in terms of the gin and geneva exports, with a CAGR of +190.6% from 2012 to 2022. At the same time, China (+73.9%) displayed positive paces of growth. By contrast, South Korea (-11.5%) illustrated a downward trend over the same period. While the share of Japan (+90 p.p.) and China (+5.8 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of South Korea (-89.4 p.p.) displayed negative dynamics.

In value terms, Japan ($X) remains the largest gin and geneva supplier in Eastern Asia, comprising 93% of total exports. The second position in the ranking was taken by China ($X), with a 4.4% share of total exports.

In Japan, gin and geneva exports increased at an average annual rate of +191.8% over the period from 2012-2022. In the other countries, the average annual rates were as follows: China (+61.9% per year) and South Korea (-18.8% per year).

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per litre, dropping by -7.3% against the previous year. Over the period under review, the export price, however, saw a notable increase. The pace of growth appeared the most rapid in 2017 an increase of 78%. Over the period under review, the export prices hit record highs at $X per litre in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per litre), while South Korea ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+0.4%), while the other leaders experienced a decline in the export price figures.

Gin And Geneva Imports

Imports in Eastern Asia

In 2022, gin and geneva imports in Eastern Asia rose markedly to X litres, picking up by 6.9% against 2021. Total imports indicated a buoyant increase from 2012 to 2022: its volume increased at an average annual rate of +6.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +76.4% against 2015 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 17%. Over the period under review, imports reached the peak figure in 2022 and are likely to see steady growth in the immediate term.

In value terms, gin and geneva imports shrank slightly to $X in 2022. Total imports indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +5.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +92.8% against 2015 indices. The most prominent rate of growth was recorded in 2016 with an increase of 21% against the previous year. The level of import peaked at $X in 2021, and then dropped slightly in the following year.

Imports by Country

Japan (X litres) and China (X litres) represented roughly 77% of total imports in 2022. Taiwan (Chinese) (X litres) took the next position in the ranking, followed by South Korea (X litres) and Hong Kong SAR (X litres). All these countries together took approx. 22% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by China (with a CAGR of +15.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest gin and geneva importing markets in Eastern Asia were Japan ($X), China ($X) and Taiwan (Chinese) ($X), with a combined 84% share of total imports.

In terms of the main importing countries, China, with a CAGR of +20.3%, saw the highest rates of growth with regard to 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 2022, falling by -9.6% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the import price increased by 12% against the previous year. The level of import peaked at $X per litre in 2021, and then fell in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Hong Kong SAR ($X per litre), while China ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+4.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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