South-Eastern Asia: Wine Market 2024

Wine Market Size in South-Eastern Asia

After two years of growth, the Southeast Asian wine market decreased by X% to $X in 2023. Overall, consumption, however, posted a buoyant increase. Over the period under review, the market reached the maximum level at $X in 2022, and then declined in the following year.

Wine Production in South-Eastern Asia

In value terms, wine production surged to $X in 2023 estimated in export price. Over the period under review, production posted a prominent expansion. The pace of growth was the most pronounced in 2021 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2022 to 2023, production growth remained at a lower figure.

Wine Exports

Exports in South-Eastern Asia

In 2023, after two years of growth, there was decline in shipments abroad of wine, when their volume decreased by X% to X litres. The total export volume increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. As a result, the exports attained the peak of X litres. From 2016 to 2023, the growth of the exports remained at a lower figure.

In value terms, wine exports fell dramatically to $X in 2023. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by X%. As a result, the exports attained the peak of $X. From 2022 to 2023, the growth of the exports remained at a lower figure.

Exports by Country

Singapore (X litres) and Thailand (X litres) prevails in exports structure, together creating X% of total exports. It was distantly followed by Malaysia (X litres), making up a X% share of total exports.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Thailand (with a CAGR of X%), while the other leaders experienced mixed trends in the exports figures.

In value terms, Singapore ($X) remains the largest wine supplier in South-Eastern Asia, comprising X% of total exports. The second position in the ranking was held by Thailand ($X), with a X% share of total exports.

In Singapore, wine exports remained relatively stable over the period from 2012-2023. The remaining exporting countries recorded the following average annual rates of exports growth: Thailand (X% per year) and Malaysia (X% per year).

Export Prices by Country

In 2023, the export price in South-Eastern Asia amounted to $X per litre, falling by X% against the previous year. In general, the export price recorded a mild decrease. The most prominent rate of growth was recorded in 2019 when the export price increased by X% against the previous year. Over the period under review, the export prices reached the peak figure at $X per litre in 2021; however, from 2022 to 2023, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Singapore ($X per litre), while Thailand ($X per litre) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Thailand (X%), while the other leaders experienced mixed trends in the export price figures.

Wine Imports

Imports in South-Eastern Asia

In 2023, after two years of growth, there was significant decline in supplies from abroad of wine, when their volume decreased by X% to X litres. Total imports indicated a moderate expansion from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2022 with an increase of X% against the previous year. As a result, imports attained the peak of X litres, and then reduced notably in the following year.

In value terms, wine imports amounted to $X in 2023. Total imports indicated prominent growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. The level of import peaked in 2023 and is likely to see gradual growth in the near future.

Imports by Country

In 2023, Singapore (X litres) was the key importer of wine, generating X% of total imports. Thailand (X litres) held a X% share (based on physical terms) of total imports, which put it in second place, followed by the Philippines (X%), Vietnam (X%) and Malaysia (X%). The following importers - Myanmar (X litres) and Indonesia (X litres) - each accounted for a X% share of total imports.

From 2012 to 2023, average annual rates of growth with regard to wine imports into Singapore stood at X%. At the same time, Myanmar (X%), Indonesia (X%), Malaysia (X%) and Thailand (X%) displayed positive paces of growth. Moreover, Myanmar emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of X% from 2012-2023. The Philippines and Vietnam experienced a relatively flat trend pattern. From 2012 to 2023, the share of Myanmar, Singapore, Indonesia and Malaysia increased by X, X, X and X percentage points, respectively.

In value terms, Singapore ($X) constitutes the largest market for imported wine in South-Eastern Asia, comprising X% of total imports. The second position in the ranking was taken by Thailand ($X), with a X% share of total imports. It was followed by Malaysia, with an X% share.

In Singapore, wine imports expanded at an average annual rate of X% over the period from 2012-2023. The remaining importing countries recorded the following average annual rates of imports growth: Thailand (X% per year) and Malaysia (X% per year).

Import Prices by Country

The import price in South-Eastern Asia stood at $X per litre in 2023, rising by X% against the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. The level of import peaked at $X per litre in 2021; however, from 2022 to 2023, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Singapore ($X per litre), while Myanmar ($X per litre) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the Philippines (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform