MENA: Vermouth Market 2024

Vermouth Market Size in MENA

The MENA's vermouth market was estimated at $X in 2022, therefore, remained relatively stable against the previous year. The total consumption indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +70.8% against 2014 indices. The level of consumption peaked in 2022 and is likely to see gradual growth in the near future.

Vermouth Production in MENA

In value terms, vermouth production totaled $X in 2022 estimated in export price. The total production indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of +4.0% 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 -0.6% against 2020 indices. The pace of growth appeared the most rapid in 2015 when the production volume increased by 18% against the previous year. Over the period under review, production attained the maximum level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Vermouth Exports

Exports in MENA

After two years of decline, shipments abroad of vermouth increased by 5.8% to X litres in 2022. Over the period under review, exports, however, saw a pronounced shrinkage. The most prominent rate of growth was recorded in 2017 when exports increased by 141%. The volume of export peaked at X litres in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, vermouth exports reduced sharply to $X in 2022. In general, exports, however, continue to indicate a abrupt decrease. The pace of growth was the most pronounced in 2017 when exports increased by 88% against the previous year. The level of export peaked at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, the United Arab Emirates (X litres) was the major exporter of vermouth, constituting 70% of total exports. It was distantly followed by Israel (X litres) and Lebanon (X litres), together creating a 26% share of total exports. Bahrain (X litres) held a relatively small share of total exports.

The United Arab Emirates was also the fastest-growing in terms of the vermouth exports, with a CAGR of +5.9% from 2012 to 2022. At the same time, Bahrain (+5.1%) and Lebanon (+1.5%) displayed positive paces of growth. By contrast, Israel (-2.8%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the United Arab Emirates, Bahrain and Lebanon increased by +39, +3.4 and +3 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) emerged as the largest vermouth supplier in MENA, comprising 64% of total exports. The second position in the ranking was held by Israel ($X), with a 16% share of total exports. It was followed by Lebanon, with a 15% share.

In the United Arab Emirates, vermouth exports decreased by an average annual rate of -2.0% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Israel (-5.2% per year) and Lebanon (+6.7% per year).

Export Prices by Country

In 2022, the export price in MENA amounted to $X per litre, declining by -24% against the previous year. In general, the export price continues to indicate a abrupt setback. The growth pace was the most rapid in 2019 an increase of 20% against the previous year. The level of export peaked at $X per litre in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bahrain (+52.5%), while the other leaders experienced mixed trends in the export price figures.

Vermouth Imports

Imports in MENA

In 2022, approx. X litres of vermouth were imported in MENA; with an increase of 24% on the previous year. In general, imports enjoyed resilient growth. The pace of growth appeared the most rapid in 2021 with an increase of 64% against the previous year. Over the period under review, imports attained the maximum in 2022 and are likely to see gradual growth in the immediate term.

In value terms, vermouth imports skyrocketed to $X in 2022. Over the period under review, imports enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2021 with an increase of 44% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

Imports by Country

The countries with the highest levels of vermouth imports in 2022 were Turkey (X litres), the United Arab Emirates (X litres) and Israel (X litres), together reaching 80% of total import. It was distantly followed by Lebanon (X litres), achieving an 8.7% share of total imports. Egypt (X litres), Morocco (X litres) and Bahrain (X litres) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Bahrain (with a CAGR of +56.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X), Turkey ($X) and Israel ($X) constituted the countries with the highest levels of imports in 2022, with a combined 83% share of total imports. Lebanon, Egypt, Morocco and Bahrain lagged somewhat behind, together accounting for a further 14%.

Among the main importing countries, Bahrain, with a CAGR of +44.1%, 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 import price in MENA amounted to $X per litre, flattening at the previous year. Over the last decade, it increased at an average annual rate of +1.1%. The most prominent rate of growth was recorded in 2020 an increase of 18% against the previous year. As a result, import price reached the peak level of $X per litre. From 2021 to 2022, the import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Egypt ($X per litre), while Lebanon ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Egypt (+4.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform