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Learn moreDec 2020
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The COVID-19 pandemic had a relatively muted impact on sales of soft drinks in Vietnam during 2020. Although dramatic declines were seen in the on-trade channel over the course of the year, off-trade growth remained positive in most categories.
The first known case of COVID-19 in Vietnam was reported on 23 January 2020. However, Vietnam quickly became notable as one of the first Asian countries to successfully contain the spread of the COVID-19 virus, with very few cases seen during the early stages of the pandemic.
One of the most important trends to emerge from the COVID-19 pandemic in Vietnam’s soft drinks industry was the shift in marketing focus that was seen among many of the industry’s leading players. Faced with an unprecedented situation in terms of the shutdown of the country’s consumer foodservice industry for several weeks during March and April and the reluctance of consumers to gather in large groups to socialise and celebrate, key industry players such as Coca-Cola Beverages Vietnam and Suntory PepsiCo Vietnam shifted their marketing focus away from media advertising campaigns targeting on-trade consumption and towards corporate social responsibility programmes.
No large-scale shift between retail distribution channels was seen in soft drinks during 2020 as restrictions were placed on the ability of retailers active in any channel to operate at any point during the year. However, it should be noted that the strict adherence to the principles of social distancing seen in the country during the year and the nationwide quarantine lockdown that was in effect for several weeks during March and April made e-commerce a much more attractive option for many Vietnamese consumers.
There was a significant shift noted in sales of soft drinks from the foodservice to the retail channel in Vietnam during 2020. Although Vietnam’s nationwide quarantine lockdown lasted 24 weeks during March and April, involved the closure of virtually the entire country hospitality industry.
A swift recovery is expected for Vietnam’s soft drink industry during the forecast period. The COVID-19 pandemic is expected to continue having a negative impact on the market throughout 2021, although the degree of impact is likely to be considerably lower than what was seen during 2020.
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Overview
Discover the latest market trends and uncover sources of future market growth for the Soft Drinks industry in Vietnam with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
If you're in the Soft Drinks industry in Vietnam, our research will save you time and money while empowering you to make informed, profitable decisions.
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This industry report originates from Passport, our Soft Drinks market research database.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.