Vietnam was faced with a soaring number of COVID-19 cases in April 2021 as it was hit by the Delta variant, with the number of cases being especially high in Ho Chi Minh and southern regions of the country. In response to this crisis, the Vietnamese government closed bars, clubs and karaoke clubs starting from May 2021, with these venues remaining closed until 2022.
During 2020 and especially 2021, there was a significant shift from the on-trade channel to the off-trade channel when it came to purchasing spirits. While on-trade sales were hit by outlet closures and a temporary prohibition on the sale of alcohol, off-trade sales were supported by an increase in at-home consumption and gift purchasing for Lunar New Year.
Before 2020, it was against the law to sell alcoholic drinks with an ABV above 15% online, as prescribed in Clause 5, Article 7 of Decree 105/2017/ND-CP. However, this provision was abolished by Clause 2, Article 17 of Decree 17/2020/ND-CP.
Spirits is expected to see a gradual recovery in total volume terms over the forecast period. Consumer confidence should return as economic activity resumes, supported by the country’s vaccination programme.
Spirits is expected to remain fragmented, due to the presence of a large number of imported brands. Apart from local white spirits, other spirits products are not traditionally produced by local players.
Shochu/soju witnessed dynamic growth during the pandemic and it is set to continue growing in popularity amongst young adults over the forecast period due to the growing influence and popularity of Korean culture via Korean music and drama. In addition, shochu/soju is also promoted through Korean-style covered street bars, called “pojangmacha” in Korean, which have opened in Hanoi.
Files are delivered directly into your account soon after payment is received and any tax is certification is verified (where applicable).
This report comes in PDF with additional info in Excel included.
Understand the latest market trends and future growth opportunities for the Spirits 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.
If you're in the Spirits 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
This is the aggregation of whisk(e)y, brandy and Cognac, white spirits, rum, tequila, liqueurs and other spirits.See All of Our Definitions
This report originates from Passport, our Spirits research and analysis database.
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extraction Free!