Vietnam: Gin And Geneva Market 2024

Gin And Geneva Market Size in Vietnam

The Vietnamese gin and geneva market was finally on the rise to reach $X in 2022, after two years of decline. Overall, the total consumption indicated a modest expansion from 2012 to 2022: its value increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -3.8% against 2019 indices. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Gin And Geneva Production in Vietnam

In value terms, gin and geneva production declined to $X in 2022 estimated in export price. Over the period under review, the total production indicated mild growth from 2012 to 2022: its value increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -3.0% against 2019 indices. The growth pace was the most rapid in 2018 with an increase of 31% against the previous year. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Gin And Geneva Exports

Exports from Vietnam

In 2022, approx. X litres of gin and geneva were exported from Vietnam; waning by -43.9% compared with 2021 figures. Overall, exports, however, recorded strong growth. The pace of growth appeared the most rapid in 2021 when exports increased by 719% against the previous year. As a result, the exports attained the peak of X litres, and then fell sharply in the following year.

In value terms, gin and geneva exports shrank markedly to $X in 2022. In general, exports, however, recorded significant growth. The pace of growth appeared the most rapid in 2021 when exports increased by 751%. As a result, the exports reached the peak of $X, and then reduced markedly in the following year.

Exports by Country

The Philippines (X litres) was the main destination for gin and geneva exports from Vietnam, with a 60% share of total exports. Moreover, gin and geneva exports to the Philippines exceeded the volume sent to the second major destination, Singapore (X litres), threefold. The third position in this ranking was taken by Thailand (X litres), with a 9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the Philippines totaled +53.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (+91.3% per year) and Thailand (-4.0% per year).

In value terms, the Philippines ($X) remains the key foreign market for gin and geneva exports from Vietnam, comprising 60% of total exports. The second position in the ranking was taken by Singapore ($X), with a 19% share of total exports. It was followed by Thailand, with an 8.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the Philippines stood at +52.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (+92.2% per year) and Thailand (-0.8% per year).

Export Prices by Country

The average gin and geneva export price stood at $X per litre in 2022, remaining constant against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.2%. The pace of growth appeared the most rapid in 2015 an increase of 25% against the previous year. The export price peaked at $X per litre in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the countries with the highest prices were the Philippines ($X per litre) and Hong Kong SAR ($X per litre), while the average price for exports to France ($X per litre) and Thailand ($X per litre) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+9.8%), while the prices for the other major destinations experienced more modest paces of growth.

Gin And Geneva Imports

Imports into Vietnam

In 2022, overseas purchases of gin and geneva were finally on the rise to reach X litres for the first time since 2017, thus ending a four-year declining trend. Overall, imports, however, showed a abrupt decrease. The growth pace was the most rapid in 2015 with an increase of 106% against the previous year. As a result, imports reached the peak of X litres. From 2016 to 2022, the growth of imports failed to regain momentum.

In value terms, gin and geneva imports expanded significantly to $X in 2022. In general, imports, however, recorded a pronounced shrinkage. The growth pace was the most rapid in 2015 when imports increased by 94%. As a result, imports attained the peak of $X. From 2016 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, the UK (X litres) constituted the largest gin and geneva supplier to Vietnam, accounting for a 55% share of total imports. Moreover, gin and geneva imports from the UK exceeded the figures recorded by the second-largest supplier, Germany (X litres), twofold. Japan (X litres) ranked third in terms of total imports with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the UK amounted to -5.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+20.2% per year) and Japan (+7.2% per year).

In value terms, the UK ($X) constituted the largest supplier of gin and geneva to Vietnam, comprising 55% of total imports. The second position in the ranking was held by Germany ($X), with a 22% share of total imports. It was followed by Japan, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the UK stood at +2.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+25.8% per year) and Japan (+8.3% per year).

Import Prices by Country

In 2022, the average gin and geneva import price amounted to $X per litre, flattening at the previous year. In general, import price indicated buoyant growth from 2012 to 2022: its price increased at an average annual rate of +8.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, gin and geneva import price increased by +57.9% against 2015 indices. The pace of growth appeared the most rapid in 2013 an increase of 46%. Over the period under review, average import prices attained the peak figure at $X per litre in 2021, and then fell in the following year.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Japan ($X per litre) and Germany ($X per litre), while the price for the United Arab Emirates ($X per litre) and the Netherlands ($X per litre) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+8.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :