ASEAN: Rum Market 2024

Rum Market Size in ASEAN

The ASEAN rum market was estimated at $X in 2022, with an increase of X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Rum Production in ASEAN

In value terms, rum production amounted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2016 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Rum Exports

Exports in ASEAN

In 2022, the amount of rum exported in ASEAN expanded rapidly to X litres, with an increase of X% against 2021 figures. Total exports indicated prominent growth from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2019 indices. The pace of growth appeared the most rapid in 2019 with an increase of X% against the previous year. The volume of export peaked in 2022 and is expected to retain growth in the near future.

In value terms, rum exports skyrocketed to $X in 2022. The total export value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2019 with an increase of X% against the previous year. As a result, the exports reached the peak of $X. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The Philippines represented the major exporter of rum in ASEAN, with the volume of exports finishing at X litres, which was approx. X% of total exports in 2022. It was distantly followed by Singapore (X litres) and Thailand (X litres), together making up a X% share of total exports. The following exporters - Vietnam (X litres) and Malaysia (X litres) - each finished at a X% share of total exports.

The Philippines was also the fastest-growing in terms of the rum exports, with a CAGR of X% from 2012 to 2022. At the same time, Vietnam (X%) and Malaysia (X%) displayed positive paces of growth. By contrast, Thailand (X%) and Singapore (X%) illustrated a downward trend over the same period. While the share of the Philippines (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Thailand (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, the Philippines ($X), Singapore ($X) and Thailand ($X) constituted the countries with the highest levels of exports in 2022, with a combined X% share of total exports.

In terms of the main exporting countries, the Philippines, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in ASEAN stood at $X per litre in 2022, picking up by X% against the previous year. Overall, the export price, however, saw a pronounced reduction. The most prominent rate of growth was recorded in 2014 when the export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per litre. From 2015 to 2022, the export prices remained at a lower figure.

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

Rum Imports

Imports in ASEAN

In 2022, supplies from abroad of rum was finally on the rise to reach X litres after three years of decline. In general, imports, however, showed a deep slump. The volume of import peaked at X litres in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, rum imports soared to $X in 2022. Overall, imports, however, continue to indicate a mild reduction. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

Singapore represented the major importing country with an import of about X litres, which finished at X% of total imports. The Philippines (X litres) ranks second in terms of the total imports with a X% share, followed by Thailand (X%) and Malaysia (X%). Indonesia (X litres) held a relatively small share of total imports.

From 2012 to 2022, average annual rates of growth with regard to rum imports into Singapore stood at X%. At the same time, Indonesia (X%) and Malaysia (X%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing importer imported in ASEAN, with a CAGR of X% from 2012-2022. By contrast, the Philippines (X%) and Thailand (X%) illustrated a downward trend over the same period. While the share of Singapore (X p.p.) and Malaysia (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Thailand (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

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

From 2012 to 2022, the average annual growth rate of value in Singapore amounted to X%. The remaining importing countries recorded the following average annual rates of imports growth: Malaysia (X% per year) and Thailand (X% per year).

Import Prices by Country

The import price in ASEAN stood at $X per litre in 2022, increasing by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2013 an increase of X% against the previous year. Over the period under review, import prices reached the peak figure in 2022 and is likely to see steady growth in the immediate term.

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 Singapore ($X per litre), while the Philippines ($X per litre) was amongst the lowest.

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

Source: IndexBox Platform

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