South-Eastern Asia: Market for Spirits, Liqueurs And Other Spirituous Beverages 2024

Market Size for Spirits, Liqueurs And Other Spirituous Beverages in South-Eastern Asia

The Southeast Asian market for spirits, liqueurs and other spirituous beverages totaled $X in 2022, with an increase of 2.1% against the previous year. The total consumption indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +6.3% 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 +7.9% against 2020 indices. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Production of Spirits, Liqueurs And Other Spirituous Beverages in South-Eastern Asia

In value terms, production of spirits, liqueurs and other spirituous beverages shrank modestly to $X in 2022 estimated in export price. Over the period under review, production, however, enjoyed a resilient expansion. The growth pace was the most rapid in 2015 when the production volume increased by 70%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Exports of Spirits, Liqueurs And Other Spirituous Beverages

Exports in South-Eastern Asia

In 2022, exports of spirits, liqueurs and other spirituous beverages in South-Eastern Asia fell to X litres, shrinking by -10.5% on the previous year. In general, exports continue to indicate a noticeable reduction. The pace of growth was the most pronounced in 2019 with an increase of 17%. The volume of export peaked at X litres in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, exports of spirits, liqueurs and other spirituous beverages reduced markedly to $X in 2022. Over the period under review, exports saw a abrupt setback. The most prominent rate of growth was recorded in 2013 when exports increased by 18%. Over the period under review, the exports of attained the peak figure at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

Vietnam (X litres) and Thailand (X litres) dominates beverages structure, together mixing up 90% of total exports. It was distantly followed by Singapore (X litres), mixing up a 6.5% share of total exports. Indonesia (X litres) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Indonesia (with a CAGR of +44.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X), Vietnam ($X) and Singapore ($X) were the countries with the highest levels of exports in 2022, together comprising 98% of total exports. These countries were followed by Indonesia, which accounted for a further 1.6%.

Among the main exporting countries, Indonesia, with a CAGR of +43.8%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in South-Eastern Asia stood at $X per litre in 2022, shrinking by -51.8% against the previous year. Overall, the export price continues to indicate a slight decline. The growth pace was the most rapid in 2013 an increase of 49%. Over the period under review, the export prices hit record highs at $X per litre in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+13.3%), while the other leaders experienced more modest paces of growth.

Imports of Spirits, Liqueurs And Other Spirituous Beverages

Imports in South-Eastern Asia

In 2022, the amount of spirits, liqueurs and other spirituous beverages imported in South-Eastern Asia soared to X litres, increasing by 53% against the previous year. The total import volume increased at an average annual rate of +3.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, imports of spirits, liqueurs and other spirituous beverages totaled $X in 2022. The total import value increased at an average annual rate of +2.0% from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2014 when imports increased by 14%. Over the period under review, imports of hit record highs in 2022 and are expected to retain growth in the immediate term.

Imports by Country

Singapore (X litres) and Vietnam (X litres) were the key importers of spirits, liqueurs and other spirituous beverages in 2022, resulting at near 28% and 24% of total imports, respectively. It was distantly followed by the Philippines (X litres), Thailand (X litres), Cambodia (X litres) and Malaysia (X litres), together making up a 44% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Cambodia (with a CAGR of +37.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X) constitutes the largest market for imported spirits, liqueurs and other spirituous beverages in South-Eastern Asia, comprising 47% of total imports. The second position in the ranking was taken by Thailand ($X), with a 17% share of total imports. It was followed by Vietnam, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Singapore was relatively modest. The remaining importing countries recorded the following average annual rates of imports growth: Thailand (+8.7% per year) and Vietnam (+13.0% per year).

Import Prices by Country

In 2022, the import price in South-Eastern Asia amounted to $X per litre, shrinking by -26.7% against the previous year. Over the period under review, the import price saw a mild contraction. The growth pace was the most rapid in 2018 an increase of 22% against the previous year. Over the period under review, import prices hit record highs at $X per litre in 2021, and then declined dramatically in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+10.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform