Dublin, July 31, 2024 (GLOBE NEWSWIRE) -- The "Alcoholic Drinks in Vietnam" report has been added to ResearchAndMarkets.com's offering.
The market for alcoholic drinks in Vietnam posted a sharp decline in overall volume sales in 2023, in contrast to the buoyant performance of the previous year. This was attributable primarily to the elevated rate of inflation, which impacted household spending. With prices continuing to rise, many consumers, especially those in the lower-income segment, opted to cut back on non-essentials in order to save money.
This report offers a comprehensive guide to the size and shape of the market at a national level. It provides the latest retail sales data (2019-2023), allowing you to identify the sectors driving growth. It identifies the leading companies, the leading brands and offers strategic analysis of key factors influencing the market - be they legislative, distribution or pricing issues. Forecasts to 2028 illustrate how the market is set to change.
Product coverage: Beer, Cider/Perry, RTDs, Spirits, Wine.
Data coverage: Market sizes (historic and forecasts), company shares, brand shares and distribution data.
Why buy this report?
- Get a detailed picture of the Alcoholic Drinks market;
- Pinpoint growth sectors and identify factors driving change;
- Understand the competitive environment, the market's major players and leading brands;
- Use five-year forecasts to assess how the market is predicted to develop.
Key Topics Covered
EXECUTIVE SUMMARY
- Alcoholic drinks in 2023: The big picture
- 2023 key trends
- Competitive landscape
- Retailing developments
- On-trade vs off-trade split
- What next for alcoholic drinks?
MARKET BACKGROUND
- Legislation
- Legal purchasing age and legal drinking age
- Drink driving
- Advertising
- Smoking ban
- Opening hours
- On-trade establishments
- Number of On-trade Establishments by Type 2017-2023
TAXATION AND DUTY LEVIES
- Taxation and Duty Levies on Alcoholic Drinks 2023
OPERATING ENVIRONMENT
- Contraband/parallel trade
- Duty free
- Cross-border/private imports
KEY NEW PRODUCT LAUNCHES
- Outlook
MARKET INDICATORS
- Retail Consumer Expenditure on Alcoholic Drinks 2018-2023
MARKET DATA
BEER IN VIETNAM
KEY DATA FINDINGS
2023 DEVELOPMENTS
- Beer volumes are negatively impacted economic downturn, high prices of raw materials and Decree 100
- Mid-priced lagers are particularly affected
- Heineken Vietnam Brewery Co Ltd retains its leadership
PROSPECTS AND OPPORTUNITIES
- Improved performance for beer, alongside economic recovery
- Non-alcoholic beer has potential for development
- Key players will make efforts to expand distribution via retail channels
CATEGORY BACKGROUND
- Lager price band methodology
- Lager by Price Band 2023
CATEGORY DATA
WINE IN VIETNAM
KEY DATA FINDINGS
2023 DEVELOPMENTS
- Wine sees positive growth, despite ongoing economic uncertainty, as tourism revival has positive impact on volumes
- Tourism revival has positive impact on on-trade volumes
- Local players see challenges from smaller, imported brands, with Italian wines especially growing in popularity
PROSPECTS AND OPPORTUNITIES
- Stronger expected performance for wine, thanks improving economy, revival of tourism and influence of Western culture
- Sake will see buoyant growth, while demand for non-alcoholic wine will remain negligible
- Local companies to focus on off-trade channel
CATEGORY DATA
SPIRITS IN VIETNAM
KEY DATA FINDINGS
2023 DEVELOPMENTS
- Enforcement of Decree 100, combined with economic downturn, contributes to decline in spirits sales
- Shochu/soju continues to register strong growth
- Product innovation is key to attracting consumers
PROSPECTS AND OPPORTUNITIES
- Gradual recovery for spirits, although tough drink-driving laws will continue to restrict consumption
- Local players will show stronger presence in English gin
- Presence of low alcoholic spirits will remain negligible
CATEGORY BACKGROUND
- Vodka, gin, other blended Scotch whisky, dark rum and white rum price band methodology
- Benchmark Brands 2023
CATEGORY DATA
CIDER/PERRY IN VIETNAM
KEY DATA FINDINGS
2023 DEVELOPMENTS
- Cider/perry continues to register positive performance
- Heineken Vietnam focuses on marketing activities to strengthen its leading position
- Negligible presence for non-alcoholic cider/perry
PROSPECTS AND OPPORTUNITIES
- Strong performance expected, in line with the increasing influence of Western lifestyles
- Cider/perry is expected to see stronger competition from flavoured shochu/soju
- Local players will enhance their presence in cider/perry
CATEGORY DATA
RTDS IN VIETNAM
2023 DEVELOPMENTS
- Presence of RTDs remain negligible in Vietnam
- Sales suffer from lack of manufacturer investment
PROSPECTS AND OPPORTUNITIES
- Sales will remain negligible outside key urban centres
- Product innovation will stimulate consumer interest
For more information about this report visit https://www.researchandmarkets.com/r/412kzy
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