Thailand: Gin And Geneva Market 2024

Gin And Geneva Market Size in Thailand

In 2022, the Thai gin and geneva market increased by 1.4% to $X, rising for the second consecutive year after two years of decline. Overall, the total consumption indicated a strong expansion 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 +3.3% against 2020 indices. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Gin And Geneva Production in Thailand

In value terms, gin and geneva production contracted slightly to $X in 2022 estimated in export price. Overall, the total production indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +7.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +3.3% against 2020 indices. The pace of growth appeared the most rapid in 2018 when the production volume increased by 37% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

Gin And Geneva Exports

Exports from Thailand

In 2022, overseas shipments of gin and geneva increased by 48% to X litres, rising for the sixth year in a row after two years of decline. Over the period under review, exports continue to indicate a significant increase. The pace of growth appeared the most rapid in 2019 with an increase of 362%. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in years to come.

In value terms, gin and geneva exports soared to $X in 2022. In general, exports showed significant growth. The pace of growth appeared the most rapid in 2018 when exports increased by 331%. The exports peaked in 2022 and are likely to see steady growth in the immediate term.

Exports by Country

Cambodia (X litres) was the main destination for gin and geneva exports from Thailand, with a 92% share of total exports. Moreover, gin and geneva exports to Cambodia exceeded the volume sent to the second major destination, Singapore (X litres), more than tenfold. Myanmar (X litres) ranked third in terms of total exports with a 2.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Cambodia stood at +69.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (+40.1% per year) and Myanmar (+15.7% per year).

In value terms, Cambodia ($X) remains the key foreign market for gin and geneva exports from Thailand, comprising 53% of total exports. The second position in the ranking was held by Singapore ($X), with a 15% share of total exports. It was followed by Myanmar, with a 7.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Cambodia totaled +64.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (+51.3% per year) and Myanmar (+19.3% per year).

Export Prices by Country

The average gin and geneva export price stood at $X per litre in 2022, with an increase of 39% against the previous year. In general, the export price, however, showed a abrupt decline. The most prominent rate of growth was recorded in 2018 when the average export price increased by 42% against the previous year. The export price peaked at $X per litre in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per litre), while the average price for exports to Cambodia ($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 Singapore (+8.0%), while the prices for the other major destinations experienced more modest paces of growth.

Gin And Geneva Imports

Imports into Thailand

For the third year in a row, Thailand recorded growth in purchases abroad of gin and geneva, which increased by 61% to X litres in 2022. Over the period under review, imports posted a strong increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, gin and geneva imports surged to $X in 2022. In general, imports posted a resilient expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, South Korea (X litres) constituted the largest supplier of gin and geneva to Thailand, accounting for a 69% share of total imports. Moreover, gin and geneva imports from South Korea exceeded the figures recorded by the second-largest supplier, the UK (X litres), fivefold. The third position in this ranking was taken by Vietnam (X litres), with a 10% share.

From 2012 to 2022, the average annual growth rate of volume from South Korea totaled +109.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+6.5% per year) and Vietnam (+23.0% per year).

In value terms, the largest gin and geneva suppliers to Thailand were South Korea ($X), the UK ($X) and Vietnam ($X), with a combined 84% share of total imports.

Among the main suppliers, South Korea, with a CAGR of +87.9%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average gin and geneva import price stood at $X per litre in 2022, rising by 40% against the previous year. Overall, import price indicated a strong increase from 2012 to 2022: its price increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 an increase of 76% against the previous year. The import price peaked at $X per litre in 2019; however, from 2020 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the UK ($X per litre), while the price for the United States ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+34.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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