Report Update Nov 1, 2024

Vietnam - Vermouth - Market Analysis, Forecast, Size, Trends and Insights

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Vietnam: Vermouth Market 2024

Vermouth Market Size in Vietnam

The Vietnamese vermouth market amounted to $X in 2022, with an increase of 4.7% against the previous year. Over the period under review, consumption, however, recorded a pronounced curtailment. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market remained at a lower figure.

Vermouth Production in Vietnam

In value terms, vermouth production stood at $X in 2022 estimated in export price. Overall, production, however, saw a perceptible slump. The most prominent rate of growth was recorded in 2017 when the production volume increased by 49%. As a result, production attained the peak level of $X. From 2018 to 2022, production growth failed to regain momentum.

Vermouth Exports

Exports from Vietnam

After two years of growth, shipments abroad of vermouth decreased by -8.2% to X litres in 2022. In general, exports recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2013 with an increase of 56% against the previous year. The exports peaked at X litres in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, vermouth exports fell notably to $X in 2022. Over the period under review, exports recorded a abrupt setback. The pace of growth was the most pronounced in 2013 with an increase of 44% against the previous year. Over the period under review, the exports attained the maximum at $X in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

Exports by Country

Thailand (X litres), Singapore (X litres) and Cambodia (X litres) were the main destinations of vermouth exports from Vietnam, with a combined 98% share of total exports. France lagged somewhat behind, comprising a further 2.3%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by France (with a CAGR of +24.0%), while the other leaders experienced a decline.

In value terms, Thailand ($X) remains the key foreign market for vermouth exports from Vietnam, comprising 63% of total exports. The second position in the ranking was taken by Singapore ($X), with a 21% share of total exports. It was followed by Cambodia, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Thailand totaled -14.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (-5.5% per year) and Cambodia (+2.9% per year).

Export Prices by Country

In 2022, the average vermouth export price amounted to $X per litre, which is down by -10.5% against the previous year. Overall, the export price continues to indicate a abrupt contraction. The most prominent rate of growth was recorded in 2021 when the average export price increased by 31%. The export price peaked at $X per litre in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Cambodia ($X per litre), while the average price for exports to Singapore ($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 Cambodia (+4.5%), while the prices for the other major destinations experienced a decline.

Vermouth Imports

Imports into Vietnam

After two years of decline, overseas purchases of vermouth increased by 2.6% to X litres in 2022. Over the period under review, imports, however, continue to indicate a sharp downturn. The growth pace was the most rapid in 2016 with an increase of 378%. Over the period under review, imports attained the maximum at X litres in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, vermouth imports rose to $X in 2022. In general, imports, however, showed a sharp descent. The most prominent rate of growth was recorded in 2016 when imports increased by 249% against the previous year. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

Italy (X litres), Ireland (X litres) and Singapore (X litres) were the main suppliers of vermouth imports to Vietnam, with a combined 58% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Singapore (with a CAGR of -12.6%), while purchases for the other leaders experienced a decline.

In value terms, the largest vermouth suppliers to Vietnam were Ireland ($X), the United States ($X) and Italy ($X), together comprising 57% of total imports.

Among the main suppliers, the United States, with a CAGR of -6.5%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2022, the average vermouth import price amounted to $X per litre, almost unchanged from the previous year. Over the period under review, the import price showed a drastic downturn. The pace of growth was the most pronounced in 2020 when the average import price increased by 35%. Over the period under review, average import prices reached the maximum at $X per litre in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per litre), while the price for Italy ($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 United States (+11.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for vermouth in the world?

The countries with the highest volumes of in 2021 were China, the United States and India, with a combined 48% share of global consumption.

What are the largest producers of vermouth in the world?

China remains the largest vermouth producing country worldwide, accounting for 26% of total volume. Moreover, vermouth production in China exceeded the figures recorded by the second-largest producer, the United States, threefold. The third position in this ranking was occupied by India, with a 9.5% share.

What are the leading suppliers of vermouth to Vietnam?

In value terms, Ireland, the United States and Italy constituted the largest vermouth suppliers to Vietnam, together accounting for 75% of total imports.

What are the leading importers of vermouth from Vietnam?

In value terms, Thailand remains the key foreign market for vermouth exports from Vietnam, comprising 84% of total exports. The second position in the ranking was occupied by Cambodia, with a 14% share of total exports.

What is the average export price for vermouth in Vietnam?

The average vermouth export price stood at $2.1 per litre in 2021, falling by -24.5% against the previous year.

What is the average import price for vermouth in Vietnam?

The average vermouth import price stood at $0.9 per litre in 2021, falling by -21.6% against the previous year.

This report provides an in-depth analysis of the vermouth market in Vietnam. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 11041000 - Vermouth and other wine of fresh grapes flavoured with plants or aromatic substances (excluding alcohol duty)

Country coverage:

Vietnam

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Vietnam
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023