South-Eastern Asia: Sparkling Wine Market 2024

Sparkling Wine Market Size in South-Eastern Asia

The Southeast Asian sparkling wine market reduced modestly to $X in 2022, declining by -3% against the previous year. Overall, consumption recorded a abrupt decline. The most prominent rate of growth was recorded in 2021 when the market value increased by 7.4%. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Sparkling Wine Production in South-Eastern Asia

In value terms, sparkling wine production reduced slightly to $X in 2022 estimated in export price. Over the period under review, production showed a deep downturn. The most prominent rate of growth was recorded in 2021 when the production volume increased by 7.1% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Sparkling Wine Exports

Exports in South-Eastern Asia

In 2022, shipments abroad of sparkling wine increased by 23% to X litres, rising for the third year in a row after two years of decline. Total exports indicated a prominent expansion from 2012 to 2022: its volume increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +93.8% against 2019 indices. The pace of growth appeared the most rapid in 2017 when exports increased by 36% against the previous year. The volume of export peaked in 2022 and is likely to continue growth in the near future.

In value terms, sparkling wine exports soared to $X in 2022. Total exports indicated a moderate expansion from 2012 to 2022: its value increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +107.8% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 54% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the near future.

Exports by Country

The shipments of the two major exporters of sparkling wine, namely Singapore and Thailand, represented more than two-thirds of total export.

From 2012 to 2022, the biggest increases were recorded for Thailand (with a CAGR of +36.1%).

In value terms, Singapore ($X) remains the largest sparkling wine supplier in South-Eastern Asia, comprising 98% of total exports. The second position in the ranking was held by Thailand ($X), with a 1.8% share of total exports.

In Singapore, sparkling wine exports expanded at an average annual rate of +5.1% over the period from 2012-2022.

Export Prices by Country

The export price in South-Eastern Asia stood at $X per litre in 2022, with an increase of 9.8% against the previous year. Overall, the export price, however, recorded a slight decline. The growth pace was the most rapid in 2019 when the export price increased by 39% against the previous year. As a result, the export price reached the peak level of $X per litre. From 2020 to 2022, the export prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Singapore ($X per litre), while Thailand totaled $X per litre.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+3.7%).

Sparkling Wine Imports

Imports in South-Eastern Asia

In 2022, overseas purchases of sparkling wine increased by 3.6% to X litres, rising for the second consecutive year after two years of decline. The total import volume increased at an average annual rate of +4.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of 42% against the previous year. Over the period under review, imports attained the maximum in 2022 and are likely to see steady growth in the immediate term.

In value terms, sparkling wine imports surged to $X in 2022. Total imports indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +7.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +92.0% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 48% against the previous year. The level of import peaked in 2022 and is expected to retain growth in years to come.

Imports by Country

In 2022, Singapore (X litres) represented the major importer of sparkling wine, comprising 59% of total imports. Myanmar (X litres) held the second position in the ranking, followed by Vietnam (X litres) and Thailand (X litres). All these countries together took approx. 33% share of total imports. The following importers - the Philippines (X litres) and Malaysia (X litres) - together made up 6.6% of total imports.

Imports into Singapore increased at an average annual rate of +2.9% from 2012 to 2022. At the same time, Myanmar (+76.6%), the Philippines (+12.5%), Thailand (+4.5%) and Vietnam (+4.4%) displayed positive paces of growth. Moreover, Myanmar emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of +76.6% from 2012-2022. By contrast, Malaysia (-1.7%) illustrated a downward trend over the same period. While the share of Myanmar (+14 p.p.) and the Philippines (+2 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Malaysia (-2.4 p.p.) and Singapore (-9.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Singapore ($X) constitutes the largest market for imported sparkling wine in South-Eastern Asia, comprising 93% of total imports. The second position in the ranking was held by Vietnam ($X), with a 2.2% share of total imports. It was followed by Thailand, with a 2% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Singapore stood at +7.9%. The remaining importing countries recorded the following average annual rates of imports growth: Vietnam (+3.6% per year) and Thailand (+3.8% per year).

Import Prices by Country

The import price in South-Eastern Asia stood at $X per litre in 2022, with an increase of 25% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.0%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Singapore ($X per litre), while Myanmar ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+10.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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