Indonesia: Vermouth Market 2024

Vermouth Market Size in Indonesia

The Indonesian vermouth market rose notably to $X in 2022, with an increase of 7.4% against the previous year. In general, the total consumption indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -6.4% against 2020 indices. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Vermouth Production in Indonesia

In value terms, vermouth production expanded markedly to $X in 2022 estimated in export price. Overall, the total production indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +5.8% 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 -6.5% against 2020 indices. The most prominent rate of growth was recorded in 2020 with an increase of 35% 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 Indonesia

In 2022, vermouth exports from Indonesia contracted sharply to X litres, with a decrease of -89.7% on the previous year's figure. Overall, exports saw a abrupt descent. The most prominent rate of growth was recorded in 2013 with an increase of 674%. As a result, the exports reached the peak of X litres. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, vermouth exports fell remarkably to $X in 2022. Over the period under review, exports continue to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2021 when exports increased by 555% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Timor-Leste (X litres) was the main destination for vermouth exports from Indonesia, with a approx. 99% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Timor-Leste stood at -18.8%.

In value terms, Timor-Leste ($X) also remains the key foreign market for vermouth exports from Indonesia.

From 2012 to 2022, the average annual rate of growth in terms of value to Timor-Leste stood at -8.1%.

Export Prices by Country

In 2022, the average vermouth export price amounted to $X per litre, approximately reflecting the previous year. In general, the export price continues to indicate a resilient increase. The most prominent rate of growth was recorded in 2018 when the average export price increased by 164% against the previous year. As a result, the export price attained the peak level of $X per litre. From 2019 to 2022, the average export prices remained at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Timor-Leste.

From 2012 to 2022, the rate of growth in terms of prices for Timor-Leste amounted to +13.2% per year.

Vermouth Imports

Imports into Indonesia

In 2022, overseas purchases of vermouth increased by 4.1% to X litres, rising for the third consecutive year after two years of decline. Overall, imports recorded a strong increase. The pace of growth was the most pronounced in 2015 with an increase of 340% against the previous year. Over the period under review, imports attained the maximum at X litres in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, vermouth imports stood at $X in 2022. In general, imports showed a notable increase. The most prominent rate of growth was recorded in 2017 with an increase of 272%. As a result, imports attained the peak of $X. From 2018 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Singapore (X litres), Italy (X litres) and Portugal (X litres) were the main suppliers of vermouth imports to Indonesia, together accounting for 56% of total imports. The United States, Germany, the UK and Malaysia lagged somewhat behind, together comprising a further 11%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Germany (with a CAGR of +95.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest vermouth suppliers to Indonesia were Singapore ($X), Italy ($X) and the United States ($X), with a combined 57% share of total imports. Portugal, Germany, the UK and Malaysia lagged somewhat behind, together comprising a further 9.4%.

Germany, with a CAGR of +90.8%, saw 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, shrinking by -2.9% against the previous year. Overall, the import price saw a perceptible setback. The most prominent rate of growth was recorded in 2014 when the average import price increased by 40% against the previous year. Over the period under review, average import prices reached the maximum at $X per litre in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per litre), while the price for Portugal ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+5.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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