Northern America: Vermouth Market 2024

Vermouth Market Size in Northern America

After three years of growth, the North American vermouth market decreased by -8.5% to $X in 2022. The total consumption indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2021, and then fell in the following year.

Vermouth Production in Northern America

In value terms, vermouth production rose slightly to $X in 2022 estimated in export price. The total production indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of +2.8% 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 -2.5% against 2020 indices. The most prominent rate of growth was recorded in 2015 with an increase of 39%. Over the period under review, production attained the peak level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Vermouth Exports

Exports in Northern America

In 2022, shipments abroad of vermouth was finally on the rise to reach X litres for the first time since 2017, thus ending a four-year declining trend. In general, exports recorded slight growth. The pace of growth was the most pronounced in 2017 when exports increased by 118% against the previous year. As a result, the exports reached the peak of X litres. From 2018 to 2022, the growth of the exports failed to regain momentum.

In value terms, vermouth exports skyrocketed to $X in 2022. Overall, exports showed a strong expansion. The most prominent rate of growth was recorded in 2017 when exports increased by 74%. As a result, the exports attained the peak of $X. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The United States represented the largest exporter of vermouth in Northern America, with the volume of exports reaching X litres, which was near 85% of total exports in 2022. It was distantly followed by Canada (X litres), committing a 15% share of total exports.

The United States experienced a relatively flat trend pattern with regard to volume of exports of vermouth. At the same time, Canada (+58.4%) displayed positive paces of growth. Moreover, Canada emerged as the fastest-growing exporter exported in Northern America, with a CAGR of +58.4% from 2012-2022. Canada (+15 p.p.) significantly strengthened its position in terms of the total exports, while the United States saw its share reduced by -15.2% from 2012 to 2022, respectively.

In value terms, the United States ($X) remains the largest vermouth supplier in Northern America, comprising 98% of total exports. The second position in the ranking was held by Canada ($X), with a 1.8% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in the United States totaled +11.8%.

Export Prices by Country

The export price in Northern America stood at $X per litre in 2022, which is down by -20.7% against the previous year. Overall, the export price, however, posted prominent growth. The most prominent rate of growth was recorded in 2015 when the export price increased by 88%. The level of export peaked at $X per litre in 2021, and then dropped sharply in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per litre), while Canada amounted to $X per litre.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+12.2%).

Vermouth Imports

Imports in Northern America

In 2022, after ten years of growth, there was significant decline in overseas purchases of vermouth, when their volume decreased by -37.6% to X litres. In general, imports, however, saw a buoyant expansion. The most prominent rate of growth was recorded in 2020 when imports increased by 89% against the previous year. The volume of import peaked at X litres in 2021, and then dropped dramatically in the following year.

In value terms, vermouth imports shrank remarkably to $X in 2022. Overall, imports, however, posted a remarkable increase. The pace of growth appeared the most rapid in 2020 with an increase of 50%. The level of import peaked at $X in 2021, and then declined dramatically in the following year.

Imports by Country

The United States dominates imports structure, amounting to X litres, which was approx. 94% of total imports in 2022. It was distantly followed by Canada (X litres), making up a 5.8% share of total imports.

The United States was also the fastest-growing in terms of the vermouth imports, with a CAGR of +15.2% from 2012 to 2022. Canada (-1.5%) illustrated a downward trend over the same period. The United States (+17 p.p.) significantly strengthened its position in terms of the total imports, while Canada saw its share reduced by -16.9% from 2012 to 2022, respectively.

In value terms, the United States ($X) constitutes the largest market for imported vermouth in Northern America, comprising 93% of total imports. The second position in the ranking was held by Canada ($X), with a 6.6% share of total imports.

In the United States, vermouth imports increased at an average annual rate of +16.0% over the period from 2012-2022.

Import Prices by Country

In 2022, the import price in Northern America amounted to $X per litre, increasing by 10% against the previous year. In general, the import price recorded a relatively flat trend pattern. The level of import peaked at $X per litre in 2019; however, from 2020 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Canada ($X per litre), while the United States amounted to $X per litre.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+1.6%).

Source: IndexBox Platform

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