Indonesia: Whisky Market 2024

Whisky Market Size in Indonesia

The Indonesian whisky market contracted to $X in 2022, with a decrease of -8.1% against the previous year. Over the period under review, consumption, however, posted a perceptible expansion. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Whisky Production in Indonesia

In value terms, whisky production dropped to $X in 2022 estimated in export price. Over the period under review, production, however, showed measured growth. The most prominent rate of growth was recorded in 2018 with an increase of 68% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

Whisky Exports

Exports from Indonesia

In 2022, shipments abroad of whisky increased by 80% to X litres for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports, however, showed a significant curtailment. The most prominent rate of growth was recorded in 2019 with an increase of 3,484%. The exports peaked at X litres in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, whisky exports skyrocketed to $X in 2022. Overall, exports, however, saw a deep reduction. The pace of growth was the most pronounced in 2019 with an increase of 3,383%. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Timor-Leste (X litres), Lao People's Democratic Republic (X litres) and Singapore (X litres) were the main destinations of whisky exports from Indonesia, with a combined 92% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Timor-Leste (with a CAGR of +48.1%), while the other leaders experienced mixed trend patterns.

In value terms, Vietnam ($X) remains the key foreign market for whisky exports from Indonesia, comprising 59% of total exports. The second position in the ranking was held by Lao People's Democratic Republic ($X), with a 24% share of total exports. It was followed by Singapore, with an 8.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Vietnam stood at +21.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lao People's Democratic Republic (+0.7% per year) and Singapore (-30.8% per year).

Export Prices by Country

In 2022, the average whisky export price amounted to $X per litre, rising by 12% against the previous year. Over the last decade, it increased at an average annual rate of +2.0%. The pace of growth appeared the most rapid in 2013 an increase of 49%. Over the period under review, the average export prices attained the peak figure at $X per litre in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Vietnam ($X per litre), while the average price for exports to Timor-Leste ($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 Vietnam (+61.9%), while the prices for the other major destinations experienced a decline.

Whisky Imports

Imports into Indonesia

In 2022, purchases abroad of whisky increased by 91% to X litres for the first time since 2018, thus ending a three-year declining trend. In general, imports, however, showed a perceptible setback. The growth pace was the most rapid in 2016 when imports increased by 118%. Imports peaked at X litres in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, whisky imports expanded notably to $X in 2022. Over the period under review, imports, however, continue to indicate a deep contraction. The most prominent rate of growth was recorded in 2016 with an increase of 75%. Imports peaked at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Ireland (X litres) constituted the largest whisky supplier to Indonesia, accounting for a 19% share of total imports. Moreover, whisky imports from Ireland exceeded the figures recorded by the second-largest supplier, Singapore (X litres), threefold. The UK (X litres) ranked third in terms of total imports with a 5.9% share.

From 2012 to 2022, the average annual growth rate of volume from Ireland amounted to +34.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (-13.3% per year) and the UK (-17.2% per year).

In value terms, the largest whisky suppliers to Indonesia were Hong Kong SAR ($X), Ireland ($X) and the UK ($X), with a combined 51% share of total imports.

Ireland, with a CAGR of +27.6%, 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 whisky import price amounted to $X per litre, with a decrease of -43.2% against the previous year. In general, the import price showed a deep downturn. The most prominent rate of growth was recorded in 2014 an increase of 37%. As a result, import price attained the peak level of $X per litre. From 2015 to 2022, the average import prices remained at a lower figure.

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 Hong Kong SAR ($X per litre), while the price for the United States ($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 Netherlands (+5.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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