Latin America and the Caribbean: Vermouth Market 2024

Vermouth Market Size in Latin America and the Caribbean

The Latin American vermouth market declined to $X in 2022, flattening at the previous year. Over the period under review, consumption, however, recorded a relatively flat trend pattern. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Vermouth Production in Latin America and the Caribbean

In value terms, vermouth production dropped to $X in 2022 estimated in export price. In general, production showed a relatively flat trend pattern. The growth pace was the most rapid in 2015 with an increase of X%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Vermouth Exports

Exports in Latin America and the Caribbean

In 2022, overseas shipments of vermouth increased by X% to X litres, rising for the seventh consecutive year after three years of decline. Overall, exports recorded a remarkable increase. The pace of growth was the most pronounced in 2016 with an increase of X%. Over the period under review, the exports reached the peak figure in 2022 and are likely to continue growth in the immediate term.

In value terms, vermouth exports surged to $X in 2022. Over the period under review, exports saw buoyant growth. The growth pace was the most rapid in 2016 with an increase of X%. Over the period under review, the exports reached the peak figure in 2022 and are likely to see steady growth in the immediate term.

Exports by Country

In 2022, Jamaica (X litres) represented the key exporter of vermouth, comprising X% of total exports. Argentina (X litres) held the second position in the ranking, distantly followed by Chile (X litres). All these countries together took approx. X% share of total exports. Brazil (X litres) took a relatively small share of total exports.

From 2012 to 2022, average annual rates of growth with regard to vermouth exports from Jamaica stood at X%. At the same time, Argentina (X%) displayed positive paces of growth. Moreover, Argentina emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of X% from 2012-2022. By contrast, Brazil (X%) and Chile (X%) illustrated a downward trend over the same period. While the share of Jamaica (X p.p.) and Argentina (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Brazil (X p.p.) and Chile (X p.p.) displayed negative dynamics.

In value terms, Jamaica ($X) remains the largest vermouth supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was held by Argentina ($X), with a X% share of total exports. It was followed by Chile, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Jamaica amounted to X%. The remaining exporting countries recorded the following average annual rates of exports growth: Argentina (X% per year) and Chile (X% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per litre in 2022, remaining stable against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2014 an increase of X%. The level of export peaked at $X per litre in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Jamaica ($X per litre), while Brazil ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Argentina (X%), while the other leaders experienced mixed trends in the export price figures.

Vermouth Imports

Imports in Latin America and the Caribbean

In 2022, vermouth imports in Latin America and the Caribbean stood at X litres, increasing by X% on the year before. In general, imports posted a strong increase. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, vermouth imports skyrocketed to $X in 2022. Over the period under review, imports continue to indicate a prominent increase. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are likely to continue growth in the near future.

Imports by Country

The countries with the highest levels of vermouth imports in 2022 were Colombia (X litres), Costa Rica (X litres), Chile (X litres) and Panama (X litres), together recording X% of total import. It was distantly followed by Trinidad and Tobago (X litres), committing a X% share of total imports. Barbados (X litres), Brazil (X litres), Uruguay (X litres), Mexico (X litres), Ecuador (X litres), the Dominican Republic (X litres), Belize (X litres) and Paraguay (X litres) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Brazil (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Colombia ($X), Trinidad and Tobago ($X) and Chile ($X) appeared to be the countries with the highest levels of imports in 2022, together comprising X% of total imports. Panama, Costa Rica, the Dominican Republic, Mexico, Brazil, Barbados, Uruguay, Paraguay, Ecuador and Belize lagged somewhat behind, together comprising a further X%.

Among the main importing countries, Brazil, with a CAGR of X%, saw the highest growth rate of 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 import price in Latin America and the Caribbean stood at $X per litre in 2022, surging by X% against the previous year. In general, the import price saw a slight expansion. The pace of growth was the most pronounced in 2013 when the import price increased by X% against the previous year. The level of import peaked at $X per litre in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the Dominican Republic ($X per litre), while Belize ($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 Dominican Republic (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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