Sweden: Vermouth Market 2024

Vermouth Market Size in Sweden

After two years of growth, the Swedish vermouth market decreased by -8.2% to $X in 2022. Overall, consumption, however, continues to indicate a pronounced downturn. Vermouth consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Vermouth Production in Sweden

In value terms, vermouth production totaled $X in 2022 estimated in export price. Overall, production, however, saw a pronounced curtailment. The most prominent rate of growth was recorded in 2018 when the production volume increased by 45%. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

Vermouth Exports

Exports from Sweden

In 2022, approx. X litres of vermouth were exported from Sweden; growing by 55% on the previous year. Overall, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when exports increased by 87%. Over the period under review, the exports reached the peak figure at X litres in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, vermouth exports soared to $X in 2022. In general, exports, however, showed a perceptible descent. The growth pace was the most rapid in 2018 when exports increased by 28%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Finland (X litres), Denmark (X litres) and Poland (X litres) were the main destinations of vermouth exports from Sweden, with a combined 49% share of total exports. Belgium, Hungary, China, the UK, Italy, Taiwan (Chinese), Norway and Germany lagged somewhat behind, together comprising a further 45%.

From 2012 to 2022, the biggest increases were recorded for Belgium (with a CAGR of +31.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Finland ($X), Denmark ($X) and Poland ($X) appeared to be the largest markets for vermouth exported from Sweden worldwide, together accounting for 54% of total exports. Belgium, China, the UK, Hungary, Taiwan (Chinese), Norway, Italy and Germany lagged somewhat behind, together accounting for a further 41%.

Belgium, with a CAGR of +34.3%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average vermouth export price amounted to $X per litre, which is down by -20.6% against the previous year. In general, the export price showed a pronounced contraction. The most prominent rate of growth was recorded in 2017 when the average export price increased by 48%. The export price peaked at $X per litre in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Norway ($X per litre), while the average price for exports to Hungary ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+2.7%), while the prices for the other major destinations experienced more modest paces of growth.

Vermouth Imports

Imports into Sweden

In 2022, approx. X litres of vermouth were imported into Sweden; with an increase of 4.7% compared with the year before. Overall, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when imports increased by 36%. Imports peaked at X litres in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, vermouth imports reduced to $X in 2022. Over the period under review, imports, however, showed a perceptible slump. The growth pace was the most rapid in 2017 when imports increased by 25% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Finland (X litres) constituted the largest vermouth supplier to Sweden, with a 73% share of total imports. Moreover, vermouth imports from Finland exceeded the figures recorded by the second-largest supplier, Germany (X litres), eightfold. The third position in this ranking was taken by Italy (X litres), with a 9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Finland stood at +31.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-1.1% per year) and Italy (-5.8% per year).

In value terms, Finland ($X) constituted the largest supplier of vermouth to Sweden, comprising 65% of total imports. The second position in the ranking was taken by Italy ($X), with a 16% share of total imports. It was followed by Germany, with an 8.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Finland totaled +29.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-6.0% per year) and Germany (-1.2% per year).

Import Prices by Country

In 2022, the average vermouth import price amounted to $X per litre, waning by -12.6% against the previous year. In general, the import price saw a perceptible descent. The most prominent rate of growth was recorded in 2020 an increase of 4.8% against the previous year. The import price peaked at $X per litre in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Denmark ($X per litre), while the price for Spain ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Denmark (+12.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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