South-Eastern Asia: Wine Market 2024

Wine Market Size in South-Eastern Asia

The Southeast Asian wine market soared to $X in 2021, picking up by 74% against the previous year. The total consumption indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +8.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Wine Production in South-Eastern Asia

In value terms, wine production shrank notably to $X in 2021 estimated in export price. The total production indicated noticeable growth from 2012 to 2021: its value increased at an average annual rate of +3.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +47.1% against 2017 indices. The most prominent rate of growth was recorded in 2018 with an increase of 65%. The level of production peaked at $X in 2020, and then shrank notably in the following year.

Wine Exports

Exports in South-Eastern Asia

In 2021, overseas shipments of wine increased by 29% to X litres for the first time since 2018, thus ending a two-year declining trend. The total export volume increased at an average annual rate of +3.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The volume of export peaked at X litres in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, wine exports surged to $X in 2021. The total export value increased at an average annual rate of +3.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Singapore (X litres) and Thailand (X litres) dominates exports structure, together comprising 96% of total exports. Malaysia (X litres) held a relatively small share of total exports.

From 2012 to 2021, the biggest increases were recorded for Malaysia (with a CAGR of +18.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X) remains the largest wine supplier in South-Eastern Asia, comprising 91% of total exports. The second position in the ranking was held by Thailand ($X), with a 7.6% share of total exports.

In Singapore, wine exports expanded at an average annual rate of +3.7% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Thailand (+7.6% per year) and Malaysia (+16.8% per year).

Export Prices by Country

In 2021, the export price in South-Eastern Asia amounted to $X per litre, picking up by 22% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the export price increased by 26%. The level of export peaked at $X per litre in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+3.0%), while the other leaders experienced a decline in the export price figures.

Wine Imports

Imports in South-Eastern Asia

In 2021, the amount of wine imported in South-Eastern Asia surged to X litres, with an increase of 43% on the previous year's figure. The total import volume increased at an average annual rate of +2.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, imports attained the maximum at X litres in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, wine imports soared to $X in 2021. The total import value increased at an average annual rate of +5.6% over the period from 2012 to 2021; 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.

Imports by Country

Singapore represented the largest importer of wine in South-Eastern Asia, with the volume of imports resulting at X litres, which was approx. 50% of total imports in 2021. It was distantly followed by Malaysia (X litres), the Philippines (X litres), Vietnam (X litres) and Thailand (X litres), together comprising a 42% share of total imports. Myanmar (X litres) and Indonesia (X litres) followed a long way behind the leaders.

Imports into Singapore increased at an average annual rate of +7.9% from 2012 to 2021. At the same time, Indonesia (+35.9%), Myanmar (+23.5%) and Vietnam (+5.9%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of +35.9% from 2012-2021. By contrast, Malaysia (-3.4%), the Philippines (-3.5%) and Thailand (-6.1%) illustrated a downward trend over the same period. Singapore (+19 p.p.), Vietnam (+2.9 p.p.), Myanmar (+2.1 p.p.) and Indonesia (+2.1 p.p.) significantly strengthened its position in terms of the total imports, while the Philippines, Malaysia and Thailand saw its share reduced by -7.3%, -8.5% and -9.4% from 2012 to 2021, respectively.

In value terms, Singapore ($X) constitutes the largest market for imported wine in South-Eastern Asia, comprising 80% of total imports. The second position in the ranking was held by Malaysia ($X), with a 7.7% share of total imports. It was followed by Thailand, with a 4.9% share.

In Singapore, wine imports expanded at an average annual rate of +6.7% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Malaysia (+0.2% per year) and Thailand (+1.1% per year).

Import Prices by Country

The import price in South-Eastern Asia stood at $X per litre in 2021, rising by 3.8% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.3%. The most prominent rate of growth was recorded in 2020 when the import price increased by 25%. The level of import peaked in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2021, 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 2021, the most notable rate of growth in terms of prices was attained by Thailand (+7.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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