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Learn moreAug 2020
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Wine maintained solid total volume growth in 2019. The on-trade channel saw slightly higher growth than the off-trade channel, and also accounted for more than double the sales.
New product developments from local players increased consumers’ interest in wine, such as Nouvo Sangria from Ladofoods, which was launched in February 2019. Nouvo Sangria is a combination of wine and fruits and targets female consumers.
Typically, Vietnamese consumers believe imported wines from overseas, especially European countries and the US, are superior to local products. However, in 2019 local player Thang Long Liquor maintained its lead in wine in Vietnam in total volume terms.
On-trade volume sales of wine are expected to fall by 33% in 2020 in light of the impact of COVID-19. This compares to an expected 5% rise forecast for 2020 during research conducted in May 2019, before the spread of COVID-19.
Although still accounting for negligible sales, champagne is expected to see the strongest total volume decline due to COVID-19 in 2020. This is an expensive product, and consumers are becoming more price-conscious due to the economic impact of the measures implemented by the government to try and stop the spread of COVID-19.
Wine is expected to bounce back to growth in 2021, although as in other categories, the opposite trend is expected compared with 2020. On-trade sales are expected to see strong growth, with off-trade sales seeing a strong decline.
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Overview
Discover the latest market trends and uncover sources of future market growth for the Wine 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 Wine industry in Vietnam, our research will save you time and money while empowering you to make informed, profitable decisions.
The Wine in Vietnam market research report includes:
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Why buy this report?
This industry report originates from Passport, our Alcoholic 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.