Southern Asia: Grape Must Market 2024

Grape Must Market Size in Southern Asia

The South Asian grape must market reduced slightly to $X in 2021, approximately mirroring the previous year. Overall, consumption, however, showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market remained at a somewhat lower figure.

Grape Must Production in Southern Asia

In value terms, grape must production reduced to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 37%. As a result, production attained the peak level of $X. From 2019 to 2021, production growth remained at a somewhat lower figure.

Grape Must Exports

Exports in Southern Asia

Grape must exports soared to X litres in 2021, rising by 642% compared with 2020 figures. Over the period under review, exports, however, recorded a abrupt downturn. The most prominent rate of growth was recorded in 2019 when exports increased by 2,586% against the previous year. The volume of export peaked at X litres in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, grape must exports skyrocketed to $X in 2021. In general, exports, however, recorded a noticeable descent. The pace of growth appeared the most rapid in 2019 with an increase of 2,594%. As a result, the exports reached the peak of $X. From 2020 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The biggest shipments were from India (X litres), together amounting to 100% of total export.

India was also the fastest-growing in terms of the grape must exports, with a CAGR of -12.6% from 2012 to 2021. India (+3.4 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, India ($X) also remains the largest grape must supplier in Southern Asia.

In India, grape must exports declined by an average annual rate of -1.7% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in Southern Asia amounted to $X per litre, picking up by 255% against the previous year. In general, the export price saw a resilient increase. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the rate of growth in terms of prices for India amounted to +12.4% per year.

Grape Must Imports

Imports in Southern Asia

In 2021, the amount of grape must imported in Southern Asia declined sharply to X litres, with a decrease of -68.5% against the previous year. Overall, imports saw a abrupt decline. The most prominent rate of growth was recorded in 2016 when imports increased by 102%. The volume of import peaked at X litres in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, grape must imports shrank dramatically to $X in 2021. Over the period under review, imports continue to indicate a perceptible decline. The most prominent rate of growth was recorded in 2016 when imports increased by 103%. As a result, imports attained the peak of $X. From 2017 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, Nepal (X litres) was the largest importer of grape must, generating 61% of total imports. It was distantly followed by Maldives (X litres) and Sri Lanka (X litres), together achieving a 35% share of total imports. India (X litres) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to grape must imports into Nepal stood at -5.1%. At the same time, Sri Lanka (+52.0%) displayed positive paces of growth. Moreover, Sri Lanka emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +52.0% from 2012-2021. By contrast, Maldives (-3.0%) and India (-26.1%) illustrated a downward trend over the same period. Sri Lanka (+14 p.p.), Nepal (+7 p.p.) and Maldives (+5.6 p.p.) significantly strengthened its position in terms of the total imports, while India saw its share reduced by -24.6% from 2012 to 2021, respectively.

In value terms, the largest grape must importing markets in Southern Asia were Maldives ($X), Nepal ($X) and Sri Lanka ($X), with a combined 96% share of total imports.

In terms of the main importing countries, Sri Lanka, with a CAGR of +37.7%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

In 2021, the import price in Southern Asia amounted to $X per litre, rising by 8.1% against the previous year. Import price indicated a tangible increase from 2012 to 2021: its price increased at an average annual rate of +3.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, grape must import price increased by +83.3% against 2017 indices. The most prominent rate of growth was recorded in 2018 an increase of 57% against the previous year. Over the period under review, import prices hit record highs in 2021 and is expected to retain growth in the near future.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Maldives (+13.7%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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