Southern Asia: Sparkling Wine Market 2024

Sparkling Wine Market Size in Southern Asia

The South Asian sparkling wine market dropped to $X in 2022, declining by -5.1% against the previous year. In general, consumption recorded a slight decrease. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market failed to regain momentum.

Sparkling Wine Production in Southern Asia

In value terms, sparkling wine production shrank to $X in 2022 estimated in export price. Overall, production continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 34% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2022, production growth remained at a somewhat lower figure.

Sparkling Wine Exports

Exports in Southern Asia

In 2022, overseas shipments of sparkling wine increased by 42% to X litres for the first time since 2018, thus ending a three-year declining trend. Over the period under review, exports enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2013 when exports increased by 363% against the previous year. The volume of export peaked at X litres in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, sparkling wine exports soared to $X in 2022. In general, exports continue to indicate prominent growth. The growth pace was the most rapid in 2013 with an increase of 353%. The level of export peaked at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

India prevails in exports structure, amounting to X litres, which was approx. 88% of total exports in 2022. It was distantly followed by Sri Lanka (X litres), generating a 10% share of total exports.

India was also the fastest-growing in terms of the sparkling wine exports, with a CAGR of +19.4% from 2012 to 2022. At the same time, Sri Lanka (+3.0%) displayed positive paces of growth. While the share of India (+23 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Sri Lanka (-22.3 p.p.) displayed negative dynamics.

In value terms, India ($X) remains the largest sparkling wine supplier in Southern Asia, comprising 84% of total exports. The second position in the ranking was held by Sri Lanka ($X), with a 15% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in India amounted to +20.6%.

Export Prices by Country

In 2022, the export price in Southern Asia amounted to $X per litre, increasing by 3% against the previous year. Export price indicated a tangible expansion from 2012 to 2022: its price increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, sparkling wine export price increased by +14.4% against 2020 indices. The most prominent rate of growth was recorded in 2016 an increase of 34% against the previous year. Over the period under review, the export prices reached the peak figure at $X per litre in 2017; however, from 2018 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 Sri Lanka ($X per litre), while India amounted to $X per litre.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sri Lanka (+12.8%).

Sparkling Wine Imports

Imports in Southern Asia

In 2022, purchases abroad of sparkling wine increased by 1.5% to X litres, rising for the second year in a row after two years of decline. Over the period under review, imports, however, saw a slight curtailment. The growth pace was the most rapid in 2021 when imports increased by 69% against the previous year. The volume of import peaked at X litres in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, sparkling wine imports reached $X in 2022. In general, imports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when imports increased by 60%. The level of import peaked at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

The countries with the highest levels of sparkling wine imports in 2022 were India (X litres), Maldives (X litres) and Nepal (X litres), together resulting at 88% of total import. Sri Lanka (X litres) held a 6.8% share (based on physical terms) of total imports, which put it in second place, followed by Pakistan (4.6%).

From 2012 to 2022, the biggest increases were recorded for Maldives (with a CAGR of +7.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, India ($X), Maldives ($X) and Nepal ($X) constituted the countries with the highest levels of imports in 2022, with a combined 90% share of total imports.

Maldives, with a CAGR of +6.0%, recorded the highest growth rate of the value of imports, in terms of 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

In 2022, the import price in Southern Asia amounted to $X per litre, surging by 7.7% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.7%. The pace of growth appeared the most rapid in 2019 when the import price increased by 15%. As a result, import price reached the peak level of $X per litre. From 2020 to 2022, the import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+3.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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