Southern Asia: Sparkling Wine Market 2024

Sparkling Wine Market Size in Southern Asia

The South Asian sparkling wine market stood at $X in 2023, remaining stable against the previous year. The total consumption indicated buoyant 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, consumption decreased by X% against 2021 indices. As a result, consumption attained the peak level of $X. From 2018 to 2023, the growth of the market failed to regain momentum.

Sparkling Wine Production in Southern Asia

In value terms, sparkling wine production totaled $X in 2023 estimated in export price. The total production indicated buoyant 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, production decreased by X% against 2017 indices. The most prominent rate of growth was recorded in 2017 with an increase of X%. As a result, production attained the peak level of $X. From 2018 to 2023, production growth failed to regain momentum.

Sparkling Wine Exports

Exports in Southern Asia

In 2023, the amount of sparkling wine exported in Southern Asia contracted rapidly to X litres, falling by X% compared with the previous year's figure. Over the period under review, exports, however, posted a resilient expansion. The pace of growth was the most pronounced in 2013 with an increase of X%. The volume of export peaked at X litres in 2018; however, from 2019 to 2023, the exports remained at a lower figure.

In value terms, sparkling wine exports shrank sharply to $X in 2023. Overall, exports, however, continue to indicate buoyant growth. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at $X in 2017; however, from 2018 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

India was the main exporting country with an export of about X litres, which resulted at X% of total exports. It was distantly followed by Sri Lanka (X litres), mixing up a X% share of total exports.

India was also the fastest-growing in terms of the sparkling wine exports, with a CAGR of X% from 2012 to 2023. At the same time, Sri Lanka (X%) displayed positive paces of growth. From 2012 to 2023, the share of India increased by X percentage points.

In value terms, India ($X) remains the largest sparkling wine supplier in Southern Asia, comprising X% of total exports. The second position in the ranking was taken by Sri Lanka ($X), with a X% share of total exports.

In India, sparkling wine exports expanded at an average annual rate of X% over the period from 2012-2023.

Export Prices by Country

The export price in Southern Asia stood at $X per litre in 2023, with a decrease of X% against the previous year. Export price indicated a modest increase from 2012 to 2023: its price 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. The most prominent rate of growth was recorded in 2016 when the export price increased by X%. The level of export peaked at $X per litre in 2017; however, from 2018 to 2023, the export prices failed to regain momentum.

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 Sri Lanka ($X per litre), while India amounted to $X per litre.

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

Sparkling Wine Imports

Imports in Southern Asia

In 2023, after two years of growth, there was significant decline in supplies from abroad of sparkling wine, when their volume decreased by X% to X litres. In general, imports recorded a pronounced downturn. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. The volume of import peaked at X litres in 2018; however, from 2019 to 2023, imports remained at a lower figure.

In value terms, sparkling wine imports dropped to $X in 2023. Total imports indicated a slight expansion 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 growth pace was the most rapid in 2021 with an increase of X%. Over the period under review, imports attained the maximum at $X in 2018; however, from 2019 to 2023, imports stood at a somewhat lower figure.

Imports by Country

Maldives was the major importer of sparkling wine in Southern Asia, with the volume of imports amounting to X litres, which was near X% of total imports in 2023. India (X litres) took the second position in the ranking, distantly followed by Sri Lanka (X litres) and Nepal (X litres). All these countries together took approx. X% share of total imports. Pakistan (X litres) followed a long way behind the leaders.

From 2012 to 2023, the biggest increases were recorded for Maldives (with a CAGR of X%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, India ($X), Maldives ($X) and Sri Lanka ($X) were the countries with the highest levels of imports in 2023, with a combined X% share of total imports.

Maldives, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in Southern Asia stood at $X per litre in 2023, which is down by X% against the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. Over the period under review, import prices attained the peak figure at $X per litre in 2022, and then shrank in the following year.

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 India ($X per litre), while Pakistan ($X per litre) was amongst the lowest.

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

Source: IndexBox Platform