Soft Drinks in Vietnam

December 2023
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Overview:

Understand the latest market trends and future growth opportunities for the Soft Drinks industry in Vietnam with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.

Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.

Data and analysis in this report provides further detailed coverage dedicated to the following key categories, where applicable:

  • Bottled Water
  • Carbonates
  • Concentrates
  • Juice
  • RTD Coffee
  • RTD Tea
  • Energy Drinks
  • Sports Drinks
  • Asian Speciality Drinks

If you're in the Soft Drinks industry in Vietnam, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.

The Soft Drinks in Vietnam report includes:

  • Analysis of key supply-side and demand trends
  • Detailed segmentation of international and local products
  • Historic volume and value sizes, company and brand market shares
  • Five year forecasts of market trends and market growth
  • Robust and transparent research methodology, conducted in-country

This report answers:

  • What is the market size of Soft Drinks in Vietnam?
  • To what extent are health considerations impacting consumption of Soft Drinks in Vietnam?
  • How are changing social attitudes and legislation (eg sugar tax) reshaping demand and consumption?
  • How are changing demographics (for example, an ageing or predominantly young population) determining consumption of Soft Drinks in Vietnam?
  • Which are the leading brands in Soft Drinks in Vietnam?
  • What potential exists for multinational or domestic soft drinks companies to expand in Vietnam?
  • How are products distributed in Soft Drinks in Vietnam?
  • How is the rise of e-commerce changing the retail and competitive landscape?
  • How have home seclusion and social distancing measures following COVID-19 impacted sales of Soft Drinks?
  • How are sustainability issues, such as environmentally-friendly packaging, legislation on recyclability, or the amount of plastic in bottles, impacting the soft drinks industry?
  • Where is future growth expected to be most dynamic?
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Soft Drinks in Vietnam

Soft drinks in 2023: The big picture
2023 key trends
Competitive landscape
Retailing developments
Foodservice vs retail split
What next for soft drinks?
Table 1 Off-trade vs On-trade Sales of Soft Drinks (RTD) by Channel: Volume 2018-2023
Table 2 Off-trade vs On-trade Sales of Soft Drinks (RTD) by Channel: % Volume Growth 2018-2023
Table 3 Off-trade vs On-trade Sales of Soft Drinks by Channel: Value 2018-2023
Table 4 Off-trade vs On-trade Sales of Soft Drinks by Channel: % Value Growth 2018-2023
Table 5 Off-trade vs On-trade Sales of Soft Drinks (as sold) by Category: Volume 2022
Table 6 Off-trade vs On-trade Sales of Soft Drinks (as sold) by Category: % Volume 2022
Table 7 Off-trade vs On-trade Sales of Soft Drinks by Category: Value 2022
Table 8 Off-trade vs On-trade Sales of Soft Drinks by Category: % Value 2022
Table 9 Off-trade Sales of Soft Drinks (RTD) by Category: Volume 2018-2023
Table 10 Off-trade Sales of Soft Drinks (RTD) by Category: % Volume Growth 2018-2023
Table 11 Off-trade Sales of Soft Drinks by Category: Value 2018-2023
Table 12 Off-trade Sales of Soft Drinks by Category: % Value Growth 2018-2023
Table 13 Sales of Soft Drinks by Total Fountain On-trade: Volume 2018-2023
Table 14 Sales of Soft Drinks by Total Fountain On-trade: % Volume Growth 2018-2023
Table 15 NBO Company Shares of Off-trade Soft Drinks (RTD): % Volume 2019-2023
Table 16 LBN Brand Shares of Off-trade Soft Drinks (RTD): % Volume 2020-2023
Table 17 NBO Company Shares of Off-trade Soft Drinks: % Value 2019-2023
Table 18 LBN Brand Shares of Off-trade Soft Drinks: % Value 2020-2023
Table 19 Distribution of Off-trade Soft Drinks (as sold) by Format: % Volume 2018-2023
Table 20 Distribution of Off-trade Soft Drinks (as sold) by Format and Category: % Volume 2023
Table 21 Forecast Off-trade vs On-trade Sales of Soft Drinks (RTD) by Channel: Volume 2023-2028
Table 22 Forecast Off-trade vs On-trade Sales of Soft Drinks (RTD) by Channel: % Volume Growth 2023-2028
Table 23 Forecast Off-trade vs On-trade Sales of Soft Drinks by Channel: Value 2023-2028
Table 24 Forecast Off-trade vs On-trade Sales of Soft Drinks by Channel: % Value Growth 2023-2028
Table 25 Forecast Off-trade Sales of Soft Drinks (RTD) by Category: Volume 2023-2028
Table 26 Forecast Off-trade Sales of Soft Drinks (RTD) by Category: % Volume Growth 2023-2028
Table 27 Forecast Off-trade Sales of Soft Drinks by Category: Value 2023-2028
Table 28 Forecast Off-trade Sales of Soft Drinks by Category: % Value Growth 2023-2028
Table 29 Forecast Sales of Soft Drinks by Total Fountain On-trade: Volume 2023-2028
Table 30 Forecast Sales of Soft Drinks by Total Fountain On-trade: % Volume Growth 2023-2028
Fountain sales in Vietnam

DISCLAIMER

Summary 1 Research Sources

Bottled Water in Vietnam

KEY DATA FINDINGS

Bottled water benefits from healthy image and affordability
Sustainable development is the focus of players in bottled water
Ionised alkaline bottled water catching the attention of health conscious locals
Bottled water seen as healthy, convenient and affordable
Retail e-commerce set to increase its share within bottled water
Bottled water players expected to continue focusing on the development of innovative packaging
Table 31 Off-trade Sales of Bottled Water by Category: Volume 2018-2023
Table 32 Off-trade Sales of Bottled Water by Category: Value 2018-2023
Table 33 Off-trade Sales of Bottled Water by Category: % Volume Growth 2018-2023
Table 34 Off-trade Sales of Bottled Water by Category: % Value Growth 2018-2023
Table 35 NBO Company Shares of Off-trade Bottled Water: % Volume 2019-2023
Table 36 LBN Brand Shares of Off-trade Bottled Water: % Volume 2020-2023
Table 37 NBO Company Shares of Off-trade Bottled Water: % Value 2019-2023
Table 38 LBN Brand Shares of Off-trade Bottled Water: % Value 2020-2023
Table 39 Forecast Off-trade Sales of Bottled Water by Category: Volume 2023-2028
Table 40 Forecast Off-trade Sales of Bottled Water by Category: Value 2023-2028
Table 41 Forecast Off-trade Sales of Bottled Water by Category: % Volume Growth 2023-2028
Table 42 Forecast Off-trade Sales of Bottled Water by Category: % Value Growth 2023-2028

Carbonates in Vietnam

KEY DATA FINDINGS

Health and financial issues put the brakes on the growth of carbonates in 2023
7-Up Soda Chanh looking to target younger and more health conscious consumers
Players continue to focus on sustainable packaging
Carbonates predicted to see steady growth over the forecast period backed by foreign investment in the economy
Reduced sugar carbonates are expected to grow well due to the rise of health and wellness.
Manufacturers are expected to continue focusing on sustainable packaging
Table 43 Off-trade vs On-trade Sales of Carbonates: Volume 2018-2023
Table 44 Off-trade vs On-trade Sales of Carbonates: Value 2018-2023
Table 45 Off-trade vs On-trade Sales of Carbonates: % Volume Growth 2018-2023
Table 46 Off-trade vs On-trade Sales of Carbonates: % Value Growth 2018-2023
Table 47 Off-trade Sales of Carbonates by Category: Volume 2018-2023
Table 48 Off-trade Sales of Carbonates by Category: Value 2018-2023
Table 49 Off-trade Sales of Carbonates by Category: % Volume Growth 2018-2023
Table 50 Off-trade Sales of Carbonates by Category: % Value Growth 2018-2023
Table 51 Total Sales of Carbonates by Fountain On-trade: Volume 2018-2023
Table 52 Total Sales of Carbonates by Fountain On-trade: % Volume Growth 2018-2023
Table 53 NBO Company Shares of Off-trade Carbonates: % Volume 2019-2023
Table 54 LBN Brand Shares of Off-trade Carbonates: % Volume 2020-2023
Table 55 NBO Company Shares of Off-trade Carbonates: % Value 2019-2023
Table 56 LBN Brand Shares of Off-trade Carbonates: % Value 2020-2023
Table 57 Forecast Off-trade Sales of Carbonates by Category: Volume 2023-2028
Table 58 Forecast Off-trade Sales of Carbonates by Category: Value 2023-2028
Table 59 Forecast Off-trade Sales of Carbonates by Category: % Volume Growth 2023-2028
Table 60 Forecast Off-trade Sales of Carbonates by Category: % Value Growth 2023-2028
Table 61 Forecast Total Sales of Carbonates by Fountain On-trade: Volume 2023-2028
Table 62 Forecast Total Sales of Carbonates by Fountain On-trade: % Volume Growth 2023-2028

Concentrates in Vietnam

KEY DATA FINDINGS

Concentrates sees steady growth in 2023 but challenges remain
Nestlé Vietnam continues to lead concentrates thanks to ongoing investment in new product development and marketing
Ajinomoto Vietnam enters powder concentrates with its Blendy brand
Concentrates will remain a niche market
Health and wellness trend likely to influence market demand with international players set to retain their dominant position
Retail E-commerce expected to boost sales of concentrates
Concentrates Conversions
Summary 2 Concentrates Conversion Factors for Ready-to-Drink (RTD) Format
Table 63 Off-trade Sales of Concentrates (RTD) by Category: Volume 2018-2023
Table 64 Off-trade Sales of Concentrates (RTD) by Category: % Volume Growth 2018-2023
Table 65 Off-trade Sales of Concentrates by Category: Value 2018-2023
Table 66 Off-trade Sales of Concentrates by Category: % Value Growth 2018-2023
Table 67 LBN Brand Shares of Off-trade Concentrates (RTD): % Volume 2020-2023
Table 68 NBO Company Shares of Off-trade Concentrates: % Value 2019-2023
Table 69 LBN Brand Shares of Off-trade Concentrates: % Value 2020-2023
Table 70 NBO Company Shares of Off-trade Liquid Concentrates (RTD): % Volume 2019-2023
Table 71 LBN Brand Shares of Off-trade Liquid Concentrates (RTD): % Volume 2020-2023
Table 72 NBO Company Shares of Off-trade Powder Concentrates (RTD): % Volume 2019-2023
Table 73 LBN Brand Shares of Off-trade Powder Concentrates (RTD): % Volume 2020-2023
Table 74 Forecast Off-trade Sales of Concentrates (RTD) by Category: Volume 2023-2028
Table 75 Forecast Off-trade Sales of Concentrates (RTD) by Category: % Volume Growth 2023-2028
Table 76 Forecast Off-trade Sales of Concentrates by Category: Value 2023-2028
Table 77 Forecast Off-trade Sales of Concentrates by Category: % Value Growth 2023-2028

Juice in Vietnam

KEY DATA FINDINGS

Inflation and a gloomy economy limit the growth of juice in 2023, but the category’s healthy image remains a big plus point
Smaller pack sizes gaining traction among price-sensitive consumers
E-commerce thriving as players increasingly focus on increasing their online presence
Juice is expected to benefit from its healthy image and an improving economy
Players are expected to focus on promoting the health claims of their products while packaging will focus on convenience and sustainability
Coconut and other plant waters is set to be the most dynamic category thanks to healthy image
Table 78 Off-trade Sales of Juice by Category: Volume 2018-2023
Table 79 Off-trade Sales of Juice by Category: Value 2018-2023
Table 80 Off-trade Sales of Juice by Category: % Volume Growth 2018-2023
Table 81 Off-trade Sales of Juice by Category: % Value Growth 2018-2023
Table 82 NBO Company Shares of Off-trade Juice: % Volume 2019-2023
Table 83 LBN Brand Shares of Off-trade Juice: % Volume 2020-2023
Table 84 NBO Company Shares of Off-trade Juice: % Value 2019-2023
Table 85 LBN Brand Shares of Off-trade Juice: % Value 2020-2023
Table 86 Forecast Off-trade Sales of Juice by Category: Volume 2023-2028
Table 87 Forecast Off-trade Sales of Juice by Category: Value 2023-2028
Table 88 Forecast Off-trade Sales of Juice by Category: % Volume Growth 2023-2028
Table 89 Forecast Off-trade Sales of Juice by Category: % Value Growth 2023-2028

RTD Coffee in Vietnam

KEY DATA FINDINGS

RTD Coffee still has potential for growth in 2023
RTD coffee continues to face still competition fresh coffee
Birdy tops the rankings while e-commerce has to bring RTD coffee to a wider audience
A positive outlook for RTD coffee
Health and wellness expected to have a growing influence on new product development
Key players focus on product innovation to attract consumers’ interest
Table 90 Off-trade Sales of RTD Coffee: Volume 2018-2023
Table 91 Off-trade Sales of RTD Coffee: Value 2018-2023
Table 92 Off-trade Sales of RTD Coffee: % Volume Growth 2018-2023
Table 93 Off-trade Sales of RTD Coffee: % Value Growth 2018-2023
Table 94 NBO Company Shares of Off-trade RTD Coffee: % Volume 2019-2023
Table 95 LBN Brand Shares of Off-trade RTD Coffee: % Volume 2020-2023
Table 96 NBO Company Shares of Off-trade RTD Coffee: % Value 2019-2023
Table 97 LBN Brand Shares of Off-trade RTD Coffee: % Value 2020-2023
Table 98 Forecast Off-trade Sales of RTD Coffee: Volume 2023-2028
Table 99 Forecast Off-trade Sales of RTD Coffee: Value 2023-2028
Table 100 Forecast Off-trade Sales of RTD Coffee: % Volume Growth 2023-2028
Table 101 Forecast Off-trade Sales of RTD Coffee: % Value Growth 2023-2028

RTD Tea in Vietnam

KEY DATA FINDINGS

RTD tea continues to see healthy growth in 2023
Rising popularity of milk tea flavour while kombucha remains a new concept
Health and wellness trend supports the growth of reduced sugar RTD tea
RTD tea expected to continue recording strong and steady growth over the forecast period
Increasing demand for smaller pack sizes as consumers go in search of convenience and value
Players likely to focus on innovation to stimulate consumer demand for RTD tea
Table 102 Off-trade Sales of RTD Tea by Category: Volume 2018-2023
Table 103 Off-trade Sales of RTD Tea by Category: Value 2018-2023
Table 104 Off-trade Sales of RTD Tea by Category: % Volume Growth 2018-2023
Table 105 Off-trade Sales of RTD Tea by Category: % Value Growth 2018-2023
Table 106 Leading Flavours for Off-trade RTD Tea: % Volume 2018-2023
Table 107 NBO Company Shares of Off-trade RTD Tea: % Volume 2019-2023
Table 108 LBN Brand Shares of Off-trade RTD Tea: % Volume 2020-2023
Table 109 NBO Company Shares of Off-trade RTD Tea: % Value 2019-2023
Table 110 LBN Brand Shares of Off-trade RTD Tea: % Value 2020-2023
Table 111 Forecast Off-trade Sales of RTD Tea by Category: Volume 2023-2028
Table 112 Forecast Off-trade Sales of RTD Tea by Category: Value 2023-2028
Table 113 Forecast Off-trade Sales of RTD Tea by Category: % Volume Growth 2023-2028
Table 114 Forecast Off-trade Sales of RTD Tea by Category: % Value Growth 2023-2028

Energy Drinks in Vietnam

KEY DATA FINDINGS

Energy drink still records positive performance with slower growth rate
Marketing and new product development a key focus of energy drinks players
Red Bull (Vietnam) Co Ltd retains its market leader in energy drink market
Energy drinks is expected to become more mature with less room for development
Developing health and wellness trend likely to restrain the growth of energy drinks
Product innovation likely to be needed to stimulate stronger sales
Table 115 Off-trade Sales of Energy Drinks: Volume 2018-2023
Table 116 Off-trade Sales of Energy Drinks: Value 2018-2023
Table 117 Off-trade Sales of Energy Drinks: % Volume Growth 2018-2023
Table 118 Off-trade Sales of Energy Drinks: % Value Growth 2018-2023
Table 119 NBO Company Shares of Off-trade Energy Drinks: % Volume 2019-2023
Table 120 LBN Brand Shares of Off-trade Energy Drinks: % Volume 2020-2023
Table 121 NBO Company Shares of Off-trade Energy Drinks: % Value 2019-2023
Table 122 LBN Brand Shares of Off-trade Energy Drinks: % Value 2020-2023
Table 123 Forecast Off-trade Sales of Energy Drinks: Volume 2023-2028
Table 124 Forecast Off-trade Sales of Energy Drinks: Value 2023-2028
Table 125 Forecast Off-trade Sales of Energy Drinks: % Volume Growth 2023-2028
Table 126 Forecast Off-trade Sales of Energy Drinks: % Value Growth 2023-2028

Sports Drinks in Vietnam

KEY DATA FINDINGS

Sport events help boost the demand for sports drinks in 2023
Suntory PepsiCo Vietnam Beverage Co Ltd retains the market leader in sports drinks
Retail e-commerce is gaining its share.
Sports drinks expected to benefit from improving economy and an increasing focus on health and fitness
Distribution of sport drinks set to expand into more channels and more areas of the country
Players will continue to cooperate and sponsor sport events to gain attention from consumers.
Table 127 Off-trade Sales of Sports Drinks: Volume 2018-2023
Table 128 Off-trade Sales of Sports Drinks: Value 2018-2023
Table 129 Off-trade Sales of Sports Drinks: % Volume Growth 2018-2023
Table 130 Off-trade Sales of Sports Drinks: % Value Growth 2018-2023
Table 131 NBO Company Shares of Off-trade Sports Drinks: % Volume 2019-2023
Table 132 LBN Brand Shares of Off-trade Sports Drinks: % Volume 2020-2023
Table 133 NBO Company Shares of Off-trade Sports Drinks: % Value 2019-2023
Table 134 LBN Brand Shares of Off-trade Sports Drinks: % Value 2020-2023
Table 135 Forecast Off-trade Sales of Sports Drinks: Volume 2023-2028
Table 136 Forecast Off-trade Sales of Sports Drinks: Value 2023-2028
Table 137 Forecast Off-trade Sales of Sports Drinks: % Volume Growth 2023-2028
Table 138 Forecast Off-trade Sales of Sports Drinks: % Value Growth 2023-2028

Asian Speciality Drinks in Vietnam

KEY DATA FINDINGS

Asian speciality drinks witness slower growth in volume
Bird’s nest remains the most attractive product in Asian speciality drinks
Competition remains limited with little incentive for new players to invest
Asian speciality drinks looks set to record stable growth thanks to healthy image
Distribution could be key to the growth and development of Asian speciality drinks
Players expected to focus on product innovation to stimulate demand
Table 139 Off-trade Sales of Asian Speciality Drinks: Volume 2018-2023
Table 140 Off-trade Sales of Asian Speciality Drinks: Value 2018-2023
Table 141 Off-trade Sales of Asian Speciality Drinks: % Volume Growth 2018-2023
Table 142 Off-trade Sales of Asian Speciality Drinks: % Value Growth 2018-2023
Table 143 NBO Company Shares of Off-trade Asian Speciality Drinks: % Volume 2019-2023
Table 144 LBN Brand Shares of Off-trade Asian Speciality Drinks: % Volume 2020-2023
Table 145 NBO Company Shares of Off-trade Asian Speciality Drinks: % Value 2019-2023
Table 146 LBN Brand Shares of Off-trade Asian Speciality Drinks: % Value 2020-2023
Table 147 Forecast Off-trade Sales of Asian Speciality Drinks: Volume 2023-2028
Table 148 Forecast Off-trade Sales of Asian Speciality Drinks: Value 2023-2028
Table 149 Forecast Off-trade Sales of Asian Speciality Drinks: % Volume Growth 2023-2028
Table 150 Forecast Off-trade Sales of Asian Speciality Drinks: % Value Growth 2023-2028
The following categories and subcategories are included:

Soft Drinks

      • Carbonated Natural Mineral Bottled Water
      • Carbonated Spring Bottled Water
      • Carbonated Purified Bottled Water
      • Still Flavoured Bottled Water
      • Sparkling Flavoured Bottled Water
    • Functional Bottled Water
      • Still Natural Mineral Bottled Water
      • Still Spring Bottled Water
      • Still Purified Bottled Water
    • Regular Carbonates
    • Reduced Sugar Carbonates
      • Regular Cola Carbonates
      • Reduced Sugar Cola Carbonates
      • Regular Non-Cola Carbonates
      • Reduced Sugar Non-Cola Carbonates
        • Regular Lemonade/Lime
        • Reduced Sugar Lemonade/Lime
        • Regular Tonic Water/Mixers/Other Bitters
        • Reduced Sugar Tonic Water/Mixers/Other Bitters
        • Regular Orange Carbonates
        • Reduced Sugar Orange Carbonates
        • Regular Other Non-Cola Carbonates
        • Reduced Sugar Other Non-Cola Carbonates
    • Liquid Concentrates
    • Powder Concentrates
      • Not from Concentrate 100% Juice
      • Reconstituted 100% Juice
    • Juice Drinks (up to 24% Juice)
    • Nectars (25-99% Juice)
    • Coconut and Other Plant Waters
  • RTD Coffee
    • Carbonated RTD Tea and Kombucha
      • Regular Still RTD Tea
      • Reduced Sugar Still RTD Tea
    • Regular Energy Drinks
    • Reduced Sugar Energy Drinks
    • Regular Sports Drinks
    • Reduced Sugar Sports Drinks
  • Asian Speciality Drinks

Soft Drinks

This is the aggregation of the following categories; Carbonates, Fruit/vegetable juice, Bottled water, Functional drinks, Concentrates, RTD tea, RTD coffee and Asian speciality drinks.

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