SADC: Vermouth Market 2024

Vermouth Market Size in SADC

The SADC vermouth market contracted slightly to $X in 2022, waning by -3.9% against the previous year. The total consumption indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +6.4% 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 +35.4% against 2013 indices. The level of consumption peaked at $X in 2021, and then contracted slightly in the following year.

Vermouth Production in SADC

In value terms, vermouth production contracted slightly to $X in 2022 estimated in export price. The total production indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +7.2% 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 -2.1% against 2019 indices. The pace of growth was the most pronounced in 2013 with an increase of 40%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Vermouth Exports

Exports in SADC

In 2022, after two years of growth, there was significant decline in shipments abroad of vermouth, when their volume decreased by -30.6% to X litres. Over the period under review, exports, however, showed a significant expansion. The pace of growth appeared the most rapid in 2014 when exports increased by 728% against the previous year. Over the period under review, the exports reached the peak figure at X litres in 2021, and then dropped significantly in the following year.

In value terms, vermouth exports contracted sharply to $X in 2022. Overall, exports, however, enjoyed strong growth. The most prominent rate of growth was recorded in 2014 when exports increased by 1,100% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

South Africa (X litres) represented roughly 99% of total exports in 2022.

South Africa was also the fastest-growing in terms of the vermouth exports, with a CAGR of +24.2% from 2012 to 2022. South Africa (+14 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) also remains the largest vermouth supplier in SADC.

In South Africa, vermouth exports expanded at an average annual rate of +15.0% over the period from 2012-2022.

Export Prices by Country

The export price in SADC stood at $X per litre in 2022, which is down by -3% against the previous year. Overall, the export price showed a abrupt downturn. The most prominent rate of growth was recorded in 2014 when the export price increased by 45%. As a result, the export price attained the peak level of $X per litre. From 2015 to 2022, the export prices remained at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for South Africa.

From 2012 to 2022, the rate of growth in terms of prices for South Africa amounted to -7.4% per year.

Vermouth Imports

Imports in SADC

After two years of growth, supplies from abroad of vermouth decreased by -68.3% to X litres in 2022. Over the period under review, imports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when imports increased by 283%. As a result, imports attained the peak of X litres, and then contracted dramatically in the following year.

In value terms, vermouth imports dropped notably to $X in 2022. In general, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 132% against the previous year. As a result, imports reached the peak of $X, and then declined notably in the following year.

Imports by Country

Democratic Republic of the Congo was the largest importer of vermouth in SADC, with the volume of imports finishing at X litres, which was approx. 55% of total imports in 2022. Angola (X litres) took the second position in the ranking, distantly followed by Namibia (X litres) and South Africa (X litres). All these countries together held approx. 38% share of total imports. The following importers - Seychelles (X litres) and Mauritius (X litres) - each finished at a 4.2% share of total imports.

Democratic Republic of the Congo was also the fastest-growing in terms of the vermouth imports, with a CAGR of +12.1% from 2012 to 2022. At the same time, Namibia (+9.2%) displayed positive paces of growth. Mauritius and Seychelles experienced a relatively flat trend pattern. By contrast, South Africa (-4.4%) and Angola (-7.0%) illustrated a downward trend over the same period. Democratic Republic of the Congo (+37 p.p.) and Namibia (+4.3 p.p.) significantly strengthened its position in terms of the total imports, while South Africa and Angola saw its share reduced by -3.7% and -26.9% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Democratic Republic of the Congo ($X), Angola ($X) and South Africa ($X) were the countries with the highest levels of imports in 2022, together comprising 78% of total imports.

Democratic Republic of the Congo, with a CAGR of +12.6%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in SADC stood at $X per litre in 2022, jumping by 54% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The level of import peaked at $X per litre in 2018; however, from 2019 to 2022, 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 Mauritius ($X per litre), while Democratic Republic of the Congo ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mauritius (+3.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform