Russian Federation: Vermouth Market 2024

Vermouth Market Size in the Russian Federation

In 2022, the Russian vermouth market was finally on the rise to reach $X for the first time since 2019, thus ending a two-year declining trend. Over the period under review, consumption, however, recorded a deep slump. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Vermouth Exports

Exports from the Russian Federation

After three years of growth, shipments abroad of vermouth decreased by -31.2% to X litres in 2021. In general, exports, however, saw a significant expansion. The most prominent rate of growth was recorded in 2016 with an increase of 364% against the previous year. Over the period under review, the exports hit record highs at X litres in 2020, and then reduced dramatically in the following year.

In value terms, vermouth exports reduced notably to $X in 2021. Over the period under review, exports, however, continue to indicate buoyant growth. The most prominent rate of growth was recorded in 2016 with an increase of 137% against the previous year. Over the period under review, the exports reached the maximum at $X in 2020, and then dropped sharply in the following year.

Exports by Country

Kazakhstan (X litres) was the main destination for vermouth exports from Russia, accounting for a 65% share of total exports. Moreover, vermouth exports to Kazakhstan exceeded the volume sent to the second major destination, Ukraine (X litres), twofold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Kazakhstan totaled +25.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ukraine (+40.3% per year) and Latvia (+19.4% per year).

In value terms, Kazakhstan ($X), Ukraine ($X) and Latvia ($X) were the largest markets for vermouth exported from Russia worldwide, together accounting for 99% of total exports.

Ukraine, with a CAGR of +40.6%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average vermouth export price amounted to $X per litre, rising by 17% against the previous year. Over the period under review, the export price, however, saw a deep setback. The most prominent rate of growth was recorded in 2020 when the average export price increased by 39% against the previous year. The export price peaked at $X per litre in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Latvia ($X per litre), while the average price for exports to Kazakhstan ($X per litre) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Kazakhstan (+1.2%), while the prices for the other major destinations experienced mixed trend patterns.

Vermouth Imports

Imports into the Russian Federation

In 2022, overseas purchases of vermouth were finally on the rise to reach X litres for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports, however, recorded a deep downturn. The pace of growth was the most pronounced in 2019 with an increase of 100%. Imports peaked at X litres in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, vermouth imports fell modestly to $X in 2022. In general, imports, however, recorded a abrupt contraction. The most prominent rate of growth was recorded in 2017 with an increase of 45% against the previous year. Over the period under review, imports attained the peak figure at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Italy (X litres) constituted the largest supplier of vermouth to Russia, with a 87% share of total imports. Moreover, vermouth imports from Italy exceeded the figures recorded by the second-largest supplier, Serbia (X litres), eightfold. The third position in this ranking was held by Spain (X litres), with a 2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Italy stood at -8.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Serbia (+17.9% per year) and Spain (-10.2% per year).

In value terms, Italy ($X) constituted the largest supplier of vermouth to Russia, comprising 90% of total imports. The second position in the ranking was taken by Serbia ($X), with a 7.9% share of total imports. It was followed by Spain, with a 1.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Italy amounted to -6.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Serbia (+18.8% per year) and Spain (-0.5% per year).

Import Prices by Country

The average vermouth import price stood at $X per litre in 2022, which is down by -2.9% against the previous year. Over the last decade, it increased at an average annual rate of +3.1%. The most prominent rate of growth was recorded in 2020 an increase of 44% against the previous year. Over the period under review, average import prices hit record highs at $X per litre in 2018; however, from 2019 to 2022, 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 Germany ($X per litre), while the price for Spain ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+14.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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