2020 saw the COVID-19 pandemic exert a negative influence on sales of bottled water in Vietnam. Although off-trade volume sales increased substantially over the course of the year due to the high levels of stockpiling seen in the category during the early stages of the pandemic situation, on-trade volume sales recorded steep declines over the course of the year.
The health and wellness trend has been in evidence in Vietnam for several years already and has been having a strong influence on demand patterns in bottled water since before the start of the review period. However, the core tenets of the health and wellness trend were brought into sharp focus in Vietnam during 2020 as the COVID-19 pandemic made many people far more aware of the role that their diet plays in their overall health and in particular their immunity.
Online sales of bottled water more than doubled in Vietnam over the course of 2020 as the COVID-19 pandemic encouraged consumers to engage with e-commerce while making home delivery a very attractive option. Bottled water is a product that, when sold in bulk, it is ideal for e-commerce as the high weight and bulky nature of bottled water sold in large PET containers mean that ordering such products online for home delivery makes a lot of sense for a lot of people.
During the forecast period, bottled water is expected to recover strongly from the negative impact of the COVID-19 pandemic on on-trade sales during 2020. Central to this strong performance is the rapid and decisive reaction of the Vietnamese government to the initial threat of the COVID-19 pandemic, with the virus having been brought under control quickly and robustly.
Despite the relatively favourable situation in Vietnam in the wake of the COVID-19 pandemic due to the robust and highly effective response of the Vietnamese government to the pandemic, one factor that is likely to continue placing pressure on demand during the forecast period is the absence of foreigners from the country. Indeed, with many countries around the world continuing to struggle to control the spread of the COVID-19 virus among their populations at the end of 2020 and with a universal vaccine at least several months away from becoming a reality, it is likely that Vietnam will continue to bar entry into the country to most foreigners, including people with a Vietnamese visa exemption certificate.
The forecast period is expected to see a raft of new launches in bottled water. Both local companies and international players are expected to introduce numerous new products in the category during the forecast period, a reflection of the strong growth potential that the category has in Vietnam.
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Understand the latest market trends and future growth opportunities for the Bottled Water industry in Vietnam with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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This report originates from Passport, our Bottled Water research and analysis database.
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