South-Eastern Asia: Vermouth Market 2024

Vermouth Market Size in South-Eastern Asia

The Southeast Asian vermouth market rose sharply to $X in 2022, growing by 5.6% against the previous year. The market value increased at an average annual rate of +2.0% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Vermouth Production in South-Eastern Asia

In value terms, vermouth production amounted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.0% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2020 with an increase of 17%. As a result, production reached the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Vermouth Exports

Exports in South-Eastern Asia

Vermouth exports skyrocketed to X litres in 2022, increasing by 83% on 2021 figures. Over the period under review, exports posted mild growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, vermouth exports surged to $X in 2022. Overall, exports showed tangible growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Singapore was the major exporting country with an export of about X litres, which reached 56% of total exports. Thailand (X litres) took a 34% share (based on physical terms) of total exports, which put it in second place, followed by Vietnam (9.7%).

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Thailand (with a CAGR of +17.4%), while the other leaders experienced a decline in the exports figures.

In value terms, Singapore ($X) remains the largest vermouth supplier in South-Eastern Asia, comprising 77% of total exports. The second position in the ranking was held by Thailand ($X), with a 19% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Singapore amounted to +1.7%. In the other countries, the average annual rates were as follows: Thailand (+14.2% per year) and Vietnam (-11.6% per year).

Export Prices by Country

The export price in South-Eastern Asia stood at $X per litre in 2022, with an increase of 10% against the previous year. Over the last decade, it increased at an average annual rate of +1.1%. The growth pace was the most rapid in 2014 an increase of 12%. The level of export peaked in 2022 and is likely to see steady growth in years to come.

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 Singapore ($X per litre), while Vietnam ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+3.2%), while the other leaders experienced a decline in the export price figures.

Vermouth Imports

Imports in South-Eastern Asia

In 2022, purchases 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, imports recorded a strong increase. Over the period under review, imports reached the peak figure at X litres in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, vermouth imports surged to $X in 2022. Over the period under review, imports recorded prominent growth. The level of import peaked at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Thailand represented the key importing country with an import of around X litres, which resulted at 73% of total imports. It was distantly followed by Singapore (X litres), the Philippines (X litres) and Myanmar (X litres), together making up a 23% share of total imports.

Thailand was also the fastest-growing in terms of the vermouth imports, with a CAGR of +24.2% from 2012 to 2022. At the same time, the Philippines (+4.9%) displayed positive paces of growth. Singapore experienced a relatively flat trend pattern. By contrast, Myanmar (-8.3%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Thailand increased by +59 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest vermouth importing markets in South-Eastern Asia were Thailand ($X), Singapore ($X) and the Philippines ($X), with a combined 91% share of total imports.

Thailand, with a CAGR of +21.6%, saw the highest rates of growth with regard to the value of imports, among 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 South-Eastern Asia stood at $X per litre in 2022, dropping by -2.2% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.3%. The most prominent rate of growth was recorded in 2021 an increase of 21% against the previous year. As a result, import price attained the peak level of $X per litre, and then shrank modestly in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+8.4%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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