Eastern Asia: Vermouth Market 2024

Vermouth Market Size in Eastern Asia

The East Asian vermouth market was estimated at $X in 2022, standing approx. at the previous year. The market value increased at an average annual rate of +3.6% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Vermouth Production in Eastern Asia

In value terms, vermouth production reached $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.8% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 when the production volume increased by 19%. The level of production peaked at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Vermouth Exports

Exports in Eastern Asia

In 2022, exports of vermouth in Eastern Asia skyrocketed to X litres, jumping by 46% compared with 2021 figures. In general, exports, however, saw a abrupt curtailment. Over the period under review, the exports attained the maximum at X litres in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, vermouth exports surged to $X in 2022. Overall, exports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when exports increased by 32% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

China dominates exports structure, accounting for X litres, which was approx. 86% of total exports in 2022. It was distantly followed by Japan (X litres), creating a 9.5% share of total exports. The following exporters - South Korea (X litres) and Taiwan (Chinese) (X litres) - each resulted at a 3.5% share of total exports.

Exports from China decreased at an average annual rate of -6.4% from 2012 to 2022. At the same time, Japan (+37.8%) displayed positive paces of growth. Moreover, Japan emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +37.8% from 2012-2022. By contrast, South Korea (-3.4%) and Taiwan (Chinese) (-7.3%) illustrated a downward trend over the same period. Japan (+9.3 p.p.) significantly strengthened its position in terms of the total exports, while China saw its share reduced by -9.1% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest vermouth supplying countries in Eastern Asia were China ($X), Japan ($X) and South Korea ($X), together accounting for 96% of total exports.

Japan, with a CAGR of +41.9%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per litre, with a decrease of -11.7% against the previous year. Export price indicated prominent 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 +34.5% against 2017 indices. The pace of growth appeared the most rapid in 2021 an increase of 43%. As a result, the export price reached the peak level of $X per litre, and then reduced in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Japan ($X per litre), while China ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+11.0%), while the other leaders experienced more modest paces of growth.

Vermouth Imports

Imports in Eastern Asia

In 2022, supplies from abroad of vermouth decreased by -4.2% to X litres, falling for the third year in a row after three years of growth. Total imports indicated a resilient increase from 2012 to 2022: its volume increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -11.6% against 2019 indices. The most prominent rate of growth was recorded in 2014 with an increase of 71%. Over the period under review, imports reached the peak figure at X litres in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, vermouth imports shrank to $X in 2022. Total imports indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -12.0% against 2019 indices. The most prominent rate of growth was recorded in 2014 with an increase of 45% against the previous year. Over the period under review, imports attained the maximum at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

Japan represented the major importing country with an import of about X litres, which resulted at 45% of total imports. It was distantly followed by South Korea (X litres), China (X litres), Macao SAR (X litres) and Taiwan (Chinese) (X litres), together achieving a 55% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Macao SAR (with a CAGR of +57.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) constitutes the largest market for imported vermouth in Eastern Asia, comprising 45% of total imports. The second position in the ranking was held by South Korea ($X), with a 21% share of total imports. It was followed by China, with a 20% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Japan was relatively modest. The remaining importing countries recorded the following average annual rates of imports growth: South Korea (+20.5% per year) and China (+9.8% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per litre in 2022, reducing by -1.5% against the previous year. Over the period under review, the import price saw a mild reduction. The growth pace was the most rapid in 2018 when the import price increased by 8.1% against the previous year. Over the period under review, import prices reached the maximum at $X per litre in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

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 Taiwan (Chinese) ($X per litre), while Macao SAR ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+4.5%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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