Kenya: Vermouth Market 2024

Vermouth Market Size in Kenya

The Kenyan vermouth market rose sharply to $X in 2022, with an increase of 8.9% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption posted a remarkable increase. Vermouth consumption peaked in 2022 and is expected to retain growth in the immediate term.

Vermouth Exports

Exports from Kenya

In 2022, shipments abroad of vermouth decreased by -3.3% to X litres for the first time since 2017, thus ending a four-year rising trend. Overall, exports, however, showed a temperate expansion. The pace of growth appeared the most rapid in 2020 when exports increased by 159% against the previous year. Over the period under review, the exports hit record highs at X litres in 2021, and then fell modestly in the following year.

In value terms, vermouth exports declined remarkably to $X in 2022. Over the period under review, exports continue to indicate a perceptible contraction. The pace of growth was the most pronounced in 2020 with an increase of 166% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Democratic Republic of the Congo (X litres) was the main destination for vermouth exports from Kenya, accounting for a 67% share of total exports. Moreover, vermouth exports to Democratic Republic of the Congo exceeded the volume sent to the second major destination, Rwanda (X litres), threefold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Democratic Republic of the Congo amounted to +5.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Rwanda (+19.3% per year) and Uganda (-11.7% per year).

In value terms, the largest markets for vermouth exported from Kenya were Democratic Republic of the Congo ($X), Rwanda ($X) and Uganda ($X), together accounting for 85% of total exports.

Among the main countries of destination, Rwanda, with a CAGR of +23.6%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2022, the average vermouth export price amounted to $X per litre, reducing by -15.1% against the previous year. Overall, the export price continues to indicate a deep reduction. The most prominent rate of growth was recorded in 2013 when the average export price increased by 26% against the previous year. As a result, the export price attained the peak level of $X per litre. From 2014 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Rwanda ($X per litre), while the average price for exports to Uganda ($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 Rwanda (+3.7%), while the prices for the other major destinations experienced a decline.

Vermouth Imports

Imports into Kenya

In 2022, vermouth imports into Kenya rose modestly to X litres, growing by 4.5% on 2021. Overall, imports recorded a strong increase. The growth pace was the most rapid in 2021 when imports increased by 122% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in the immediate term.

In value terms, vermouth imports rose rapidly to $X in 2022. In general, imports showed a remarkable increase. The pace of growth was the most pronounced in 2021 when imports increased by 215% against the previous year. Imports peaked in 2022 and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Spain (X litres) constituted the largest vermouth supplier to Kenya, with a 36% share of total imports. Moreover, vermouth imports from Spain exceeded the figures recorded by the second-largest supplier, Ukraine (X litres), fivefold. The third position in this ranking was held by Italy (X litres), with a 5.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Spain was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Ukraine (+374.2% per year) and Italy (-3.5% per year).

In value terms, the largest vermouth suppliers to Kenya were Italy ($X), Spain ($X) and Ukraine ($X), together accounting for 56% of total imports.

Among the main suppliers, Ukraine, with a CAGR of +424.0%, recorded 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

In 2022, the average vermouth import price amounted to $X per litre, rising by 8.8% against the previous year. Over the period under review, the import price saw a modest expansion. The most prominent rate of growth was recorded in 2016 when the average import price increased by 126%. As a result, import price reached the peak level of $X per litre. From 2017 to 2022, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($X per litre), while the price for Spain ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+10.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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