Southern Asia: Whisky Market 2024

Whisky Market Size in Southern Asia

The South Asian whisky market rose sharply to $X in 2022, surging by 9.9% against the previous year. The market value increased at an average annual rate of +3.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked in 2022 and is likely to see steady growth in the near future.

Whisky Production in Southern Asia

In value terms, whisky production rose slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.2% from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 when the production volume increased by 18%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Whisky Exports

Exports in Southern Asia

After two years of growth, overseas shipments of whisky decreased by -2.8% to X litres in 2022. Total exports indicated a buoyant expansion 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, exports increased by +8.8% against 2018 indices. The pace of growth was the most pronounced in 2018 with an increase of 38% against the previous year. Over the period under review, the exports attained the maximum at X litres in 2021, and then fell modestly in the following year.

In value terms, whisky exports stood at $X in 2022. The total export value increased at an average annual rate of +1.0% from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2017 when exports increased by 16%. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

Exports by Country

The shipments of the one major exporters of whisky, namely India, represented more than two-thirds of total export.

India was also the fastest-growing in terms of the whisky exports, with a CAGR of +6.9% from 2012 to 2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, India ($X) also remains the largest whisky supplier in Southern Asia.

In India, whisky exports remained relatively stable over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Southern Asia amounted to $X per litre, rising by 3.3% against the previous year. In general, the export price, however, showed a drastic downturn. The most prominent rate of growth was recorded in 2019 an increase of 9.7%. Over the period under review, the export prices reached the maximum at $X per litre in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

As there is only one major export destination, 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 -5.8% per year.

Whisky Imports

Imports in Southern Asia

In 2022, the amount of whisky imported in Southern Asia soared to X litres, growing by 65% against the year before. Overall, imports recorded a prominent expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, whisky imports surged to $X in 2022. In general, imports enjoyed a resilient increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

India prevails in imports structure, recording X litres, which was approx. 94% of total imports in 2022. The following importers - Sri Lanka (X litres) and Nepal (X litres) - each resulted at a 4.2% share of total imports.

India was also the fastest-growing in terms of the whisky imports, with a CAGR of +20.4% from 2012 to 2022. At the same time, Nepal (+8.7%) displayed positive paces of growth. Sri Lanka experienced a relatively flat trend pattern. While the share of India (+17 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Nepal (-2.3 p.p.) and Sri Lanka (-10.3 p.p.) displayed negative dynamics.

In value terms, India ($X) constitutes the largest market for imported whisky in Southern Asia, comprising 89% of total imports. The second position in the ranking was held by Sri Lanka ($X), with a 4.6% share of total imports.

In India, whisky imports increased at an average annual rate of +14.6% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Sri Lanka (+0.2% per year) and Nepal (+10.6% per year).

Import Prices by Country

In 2022, the import price in Southern Asia amounted to $X per litre, with an increase of 10% against the previous year. In general, the import price, however, saw a perceptible downturn. The pace of growth appeared the most rapid in 2014 an increase of 34%. 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.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nepal (+1.8%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :