Alcoholic drinks continues to record strong total volume growth
Alcoholic drinks was only marginally affected by the economic downturn in 2011-2012, and continued to records good sales. Double-digit growth was observed in both off-trade and on-trade volume sales, although it slowed down marginally from the previous year due to maturity. In general, alcoholic drinks still represented one of the markets with the highest potential in Vietnam.
New product improvement and packaging innovation offer consumer more choice
In 2012, alcoholic drinks recorded many new product improvements and packaging innovation across the categories to cater to more sophisticated demand from consumers. As such, Vietnamese consumers had greater choice when purchasing alcoholic drinks.
Local players continue to play major role in competitive environment
Despite reduced import tax and consequently increased presence of imported alcoholic drinks, local players like Saigon Alcohol Beer & Beverages Corp (Sabeco) retained leadership of various categories. Local players invested heavily in production facilities to improve the quality of their products to meet or even surpass international standards, while still trying to retain their price advantage. However, international players such as Diageo Plc or Rémy Cointreau Group made efforts to establish a stronger presence by expanding their distribution through independent small grocers.
On-trade remains as main channel
In 2012, on-trade continued to account for the larger share of total volume sales of alcoholic drinks. More consumers adopted the habit of eating outside of the home environment with family and friends over the weekends or after a work day supported by increasing disposable incomes and busier lifestyles. This trend provided a boost to alcoholic drinks as Vietnamese increasingly preferred socialising in restaurants, where beer is widely consumed. Wine and spirits, on the other hand, are consumed mainly in hotels, restaurants, bars, clubs, nightclubs, parties and events attended by more affluent consumers who are willing to pay for luxury drinks.
Alcoholic drinks is expected to record strong growth over the forecast period
Alcoholic drinks in Vietnam will continue to record strong growth over the forecast period due to efforts by manufacturers, such as new product developments and heavy investment in marketing and event sponsorship. Furthermore, the growing number of young and working class adults is another factor for alcoholic drinks to enjoy good growth over the forecast period. There will be more premium products in beer, wine and spirits to be present as there is a tendency among consumers to prefer premium products as an indication of their knowledge of alcoholic drinks and social status. However, standard alcoholic drinks will continue to hold the main share, and cannot be completely replaced by premium products.
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The Alcoholic Drinks in Vietnam market research report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volumes and values, company and brand market shares
- Five year forecasts of market trends and market growth
- Production, imports by origin, exports by destination
- Robust and transparent market research methodology, conducted in-country
Our market research reports answer questions such as:
- What is the market size of Alcoholic Drinks in Vietnam?
- What are the major brands in Vietnam?
- Have there been any alcoholic drinks legislative changes over the past 12 months?
- How is the alcoholic drinks industry affected by the recession?
- What is consumed more; beer, wine or spirits?
- What have been the key trends seen in new product developments?
- Do alcoholic drinks consumers want value for money or added value?
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This industry report originates from Passport, our Alcoholic Drinks market research database.