South-Eastern Asia: Sparkling Wine Market 2024

Sparkling Wine Market Size in South-Eastern Asia

In 2023, the Southeast Asian sparkling wine market decreased by X% to $X, falling for the second consecutive year after two years of growth. Over the period under review, consumption recorded a slight shrinkage. The level of consumption peaked at $X in 2021; however, from 2022 to 2023, consumption failed to regain momentum.

Sparkling Wine Production in South-Eastern Asia

In value terms, sparkling wine production shrank modestly to $X in 2023 estimated in export price. Overall, production saw a noticeable contraction. The most prominent rate of growth was recorded in 2014 with an increase of X%. As a result, production attained the peak level of $X. From 2015 to 2023, production growth remained at a lower figure.

Sparkling Wine Exports

Exports in South-Eastern Asia

After three years of growth, shipments abroad of sparkling wine decreased by X% to X litres in 2023. Total exports indicated noticeable growth 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, exports increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. The volume of export peaked at X litres in 2022, and then dropped in the following year.

In value terms, sparkling wine exports contracted rapidly to $X in 2023. In general, exports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X. From 2022 to 2023, the growth of the exports remained at a somewhat lower figure.

Exports by Country

In 2023, Singapore (X litres) represented the largest exporter of sparkling wine, comprising X% of total exports. It was distantly followed by Thailand (X litres), achieving a X% share of total exports.

From 2012 to 2023, average annual rates of growth with regard to sparkling wine exports from Singapore stood at X%. At the same time, Thailand (X%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of X% from 2012-2023. Thailand (X p.p.) significantly strengthened its position in terms of the total exports, while Singapore saw its share reduced by X% from 2012 to 2023, respectively.

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

From 2012 to 2023, the average annual rate of growth in terms of value in Singapore was relatively modest.

Export Prices by Country

In 2023, the export price in South-Eastern Asia amounted to $X per litre, which is down by X% against the previous year. Over the period under review, the export price continues to indicate a perceptible setback. The pace of growth appeared the most rapid in 2019 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per litre. From 2020 to 2023, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Singapore ($X per litre), while Thailand stood at $X per litre.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Singapore (X%).

Sparkling Wine Imports

Imports in South-Eastern Asia

In 2023, purchases abroad of sparkling wine increased by X% to X litres, rising for the third consecutive year after two years of decline. Total imports indicated a resilient 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 pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. Over the period under review, imports hit record highs in 2023 and are expected to retain growth in years to come.

In value terms, sparkling wine imports declined slightly to $X in 2023. Total imports indicated noticeable growth from 2012 to 2023: its value 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 2021 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure at $X in 2022, and then reduced modestly in the following year.

Imports by Country

Singapore prevails in imports structure, recording X litres, which was near X% of total imports in 2023. Thailand (X litres) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Vietnam (X%) and Malaysia (X%). The Philippines (X litres) followed a long way behind the leaders.

From 2012 to 2023, average annual rates of growth with regard to sparkling wine imports into Singapore stood at X%. At the same time, Malaysia (X%), the Philippines (X%), Thailand (X%) and Vietnam (X%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of X% from 2012-2023. While the share of Malaysia (X p.p.) and the Philippines (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Vietnam (X p.p.) and Singapore (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

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

In Singapore, sparkling wine imports expanded at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Malaysia (X% per year) and Thailand (X% per year).

Import Prices by Country

The import price in South-Eastern Asia stood at $X per litre in 2023, reducing by X% against the previous year. In general, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the import price increased by X%. As a result, import price reached the peak level of $X per litre. From 2015 to 2023, the import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Singapore ($X per litre), while Vietnam ($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 mixed trends in the import price figures.

Source: IndexBox Platform