Southern Asia: Market for Spirits, Liqueurs And Other Spirituous Beverages 2024

Market Size for Spirits, Liqueurs And Other Spirituous Beverages in Southern Asia

The South Asian market for spirits, liqueurs and other spirituous beverages expanded rapidly to $X in 2022, with an increase of 8.5% against the previous year. The total consumption indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +5.1% 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 +7.8% against 2019 indices. Over the period under review, the market attained the peak level in 2022 and is expected to retain growth in the near future.

Production of Spirits, Liqueurs And Other Spirituous Beverages in Southern Asia

In value terms, production of spirits, liqueurs and other spirituous beverages reached $X in 2022 estimated in export price. Over the period under review, production, however, recorded a perceptible expansion. The most prominent rate of growth was recorded in 2017 when the production volume increased by 58%. Over the period under review, production of reached the peak level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Exports of Spirits, Liqueurs And Other Spirituous Beverages

Exports in Southern Asia

In 2022, overseas shipments of spirits, liqueurs and other spirituous beverages increased by 31% to X litres, rising for the third year in a row after three years of decline. Overall, exports recorded a strong increase. The pace of growth was the most pronounced in 2020 with an increase of 192%. Over the period under review, the exports of attained the maximum in 2022 and are expected to retain growth in the immediate term.

In value terms, exports of spirits, liqueurs and other spirituous beverages reduced to $X in 2022. In general, exports, however, showed a pronounced shrinkage. The growth pace was the most rapid in 2020 when exports increased by 180%. Over the period under review, the exports of attained the maximum at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

India dominates beverages structure, accounting for X litres, which was near 95% of total exports in 2022. Sri Lanka (X litres) held a minor share of total exports.

From 2012 to 2022, average annual rates of growth with regard to spirits, liqueurs and other spirituous beverages exports from India stood at +5.8%. At the same time, Sri Lanka (+14.2%) displayed positive paces of growth. Moreover, Sri Lanka emerged as the fastest-growing exporter exported in Southern Asia, with a CAGR of +14.2% from 2012-2022. Sri Lanka (+1.6 p.p.) significantly strengthened its position in terms of the total exports, while India saw its share reduced by -1.9% from 2012 to 2022, respectively.

In value terms, India ($X) remains the largest spirits, liqueurs and other spirituous beverages supplier in Southern Asia, comprising 94% of total exports. The second position in the ranking was held by Sri Lanka ($X), with a 5.2% share of total exports.

In India, exports of spirits, liqueurs and other spirituous beverages plunged by an average annual rate of -5.3% over the period from 2012-2022.

Export Prices by Country

The export price in Southern Asia stood at $X per litre in 2022, with a decrease of -27.7% against the previous year. Overall, the export price faced a deep downturn. The growth pace was the most rapid in 2014 an increase of 78% against the previous year. The level of export peaked at $X per litre in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

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 totaled $X per litre.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sri Lanka (-2.2%).

Imports of Spirits, Liqueurs And Other Spirituous Beverages

Imports in Southern Asia

In 2022, approx. X litres of spirits, liqueurs and other spirituous beverages were imported in Southern Asia; jumping by 65% on the previous year. Total imports indicated a resilient increase from 2012 to 2022: its volume increased at an average annual rate of +6.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +105.3% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, imports of spirits, liqueurs and other spirituous beverages surged to $X in 2022. Total imports indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +110.3% against 2020 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

The countries with the highest levels of imports of spirits, liqueurs and other spirituous beverages in 2022 were India (X litres), together finishing at 97% of total import.

India was also the fastest-growing in terms of the spirits, liqueurs and other spirituous beverages imports, with a CAGR of +7.3% from 2012 to 2022. From 2012 to 2022, the share of India increased by +2.9 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported spirits, liqueurs and other spirituous beverages in Southern Asia.

In India, imports of spirits, liqueurs and other spirituous beverages expanded at an average annual rate of +4.8% over the period from 2012-2022.

Import Prices by Country

In 2022, the import price in Southern Asia amounted to $X per litre, falling by -8.3% against the previous year. Overall, the import price recorded a pronounced reduction. The pace of growth was the most pronounced in 2014 an increase of 18% against the previous year. As a result, import price reached the peak level of $X per litre. From 2015 to 2022, the import prices remained at a lower figure.

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

From 2012 to 2022, the rate of growth in terms of prices for India amounted to -2.3% per year.

Source: IndexBox Platform