Wine is expected to see a positive performance over the forecast period, as the Vietnamese economy continues to recovery from the impact of COVID-19. Alongside improvements in disposable incomes, consumers will be increasingly willing to purchase non-essential products, such as wine, in order to enhance their lifestyles.
Lunar New Year or Tet is one of the most important annual festivals in Vietnam. During the Tet holidays, the majority of Vietnamese consumers tend to purchase gifts for their family members, business partners and friends, with wine being a popular choice during such celebrations.
Local players such as LamDong Foodstuffs JSC (Ladofoods) and Thang Long Wine JSC are expected to focus on the off-trade channel to grow their wine sales over the forecast period. For example, both companies are likely to set up more showrooms where consumers can come and try their products.
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This is the aggregation of still and sparkling light grape wines, fortified wine and vermouth and non-grape wine. In terms of alcohol content, light wine usually falls into the 8-14% ABV bracket while fortified wine ranges from 14-23% ABV. Low and non-alcoholic wine is also included in the data (attributed to each sector as appropriate).See All of Our Definitions
This report originates from Passport, our Wine research and analysis database.
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