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Soft Drinks in Vietnam

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    Report

  • 93 Pages
  • December 2023
  • Region: Vietnam
  • Euromonitor International
  • ID: 2639149
Vietnam is predicted to see GDP growth of 4.5% by the end of 2023, compared to the initial forecast of 6.5% at the beginning of the year, as per the General Statistical Office study. Soft labour markets and concerns about an impending global recession have led to a more conservative consumer behaviour in 2023, with increased savings and decreased spending on non-essential items such as soft drinks.

The Soft Drinks in Vietnam report offers a comprehensive guide to the size and shape of the market at a national level. It provides the latest retail sales data (2018-2022), allowing you to identify the sectors driving growth. It identifies the leading companies, the leading brands and offers strategic analysis of key factors influencing the market - be they legislative, distribution, packaging or pricing issues. Forecasts to 2027 illustrate how the market is set to change.

Product coverage: Asian Speciality Drinks, Bottled Water, Carbonates, Concentrates, Energy Drinks, Juice, RTD Coffee, RTD Tea, Sports Drinks.

Data coverage: Market sizes (historic and forecasts), company shares, brand shares and distribution data.

Why buy this report?

  • Get a detailed picture of the Soft Drinks market;
  • Pinpoint growth sectors and identify factors driving change;
  • Understand the competitive environment, the market’s major players and leading brands;
  • Use five-year forecasts to assess how the market is predicted to develop.

Table of Contents

SOFT DRINKS IN VIETNAM
EXECUTIVE SUMMARY
  • Soft drinks in 2023: The big picture
  • 2023 key trends
  • Competitive landscape
  • Retailing developments
  • Foodservice vs retail split
  • What next for soft drinks?
MARKET DATA
  • Table 1 Off-trade vs On-trade Sales of Soft Drinks (RTD) by Channel: Volume 2018-2023
  • Table 2 Off-trade vs On-trade Sales of Soft Drinks (RTD) by Channel: % Volume Growth 2018-2023
  • Table 3 Off-trade vs On-trade Sales of Soft Drinks by Channel: Value 2018-2023
  • Table 4 Off-trade vs On-trade Sales of Soft Drinks by Channel: % Value Growth 2018-2023
  • Table 5 Off-trade vs On-trade Sales of Soft Drinks (as sold) by Category: Volume 2022
  • Table 6 Off-trade vs On-trade Sales of Soft Drinks (as sold) by Category: % Volume 2022
  • Table 7 Off-trade vs On-trade Sales of Soft Drinks by Category: Value 2022
  • Table 8 Off-trade vs On-trade Sales of Soft Drinks by Category: % Value 2022
  • Table 9 Off-trade Sales of Soft Drinks (RTD) by Category: Volume 2018-2023
  • Table 10 Off-trade Sales of Soft Drinks (RTD) by Category: % Volume Growth 2018-2023
  • Table 11 Off-trade Sales of Soft Drinks by Category: Value 2018-2023
  • Table 12 Off-trade Sales of Soft Drinks by Category: % Value Growth 2018-2023
  • Table 13 Sales of Soft Drinks by Total Fountain On-trade: Volume 2018-2023
  • Table 14 Sales of Soft Drinks by Total Fountain On-trade: % Volume Growth 2018-2023
  • Table 15 NBO Company Shares of Off-trade Soft Drinks (RTD): % Volume 2019-2023
  • Table 16 LBN Brand Shares of Off-trade Soft Drinks (RTD): % Volume 2020-2023
  • Table 17 NBO Company Shares of Off-trade Soft Drinks: % Value 2019-2023
  • Table 18 LBN Brand Shares of Off-trade Soft Drinks: % Value 2020-2023
  • Table 19 Distribution of Off-trade Soft Drinks (as sold) by Format: % Volume 2018-2023
  • Table 20 Distribution of Off-trade Soft Drinks (as sold) by Format and Category: % Volume 2023
  • Table 21 Forecast Off-trade vs On-trade Sales of Soft Drinks (RTD) by Channel: Volume 2023-2028
  • Table 22 Forecast Off-trade vs On-trade Sales of Soft Drinks (RTD) by Channel: % Volume Growth 2023-2028
  • Table 23 Forecast Off-trade vs On-trade Sales of Soft Drinks by Channel: Value 2023-2028
  • Table 24 Forecast Off-trade vs On-trade Sales of Soft Drinks by Channel: % Value Growth 2023-2028
  • Table 25 Forecast Off-trade Sales of Soft Drinks (RTD) by Category: Volume 2023-2028
  • Table 26 Forecast Off-trade Sales of Soft Drinks (RTD) by Category: % Volume Growth 2023-2028
  • Table 27 Forecast Off-trade Sales of Soft Drinks by Category: Value 2023-2028
  • Table 28 Forecast Off-trade Sales of Soft Drinks by Category: % Value Growth 2023-2028
  • Table 29 Forecast Sales of Soft Drinks by Total Fountain On-trade: Volume 2023-2028
  • Table 30 Forecast Sales of Soft Drinks by Total Fountain On-trade: % Volume Growth 2023-2028
APPENDIX
  • Fountain sales in Vietnam
DISCLAIMER
SOURCES
  • Summary 1 Research Sources
CARBONATES IN VIETNAMKEY DATA FINDINGS
2023 DEVELOPMENTS
  • Health and financial issues put the brakes on the growth of carbonates in 2023
  • 7-Up Soda Chanh looking to target younger and more health conscious consumers
  • Players continue to focus on sustainable packaging
PROSPECTS AND OPPORTUNITIES
  • Carbonates predicted to see steady growth over the forecast period backed by foreign investment in the economy
  • Reduced sugar carbonates are expected to grow well due to the rise of health and wellness.
  • Manufacturers are expected to continue focusing on sustainable packaging
CATEGORY DATA
  • Table 31 Off-trade vs On-trade Sales of Carbonates: Volume 2018-2023
  • Table 32 Off-trade vs On-trade Sales of Carbonates: Value 2018-2023
  • Table 33 Off-trade vs On-trade Sales of Carbonates: % Volume Growth 2018-2023
  • Table 34 Off-trade vs On-trade Sales of Carbonates: % Value Growth 2018-2023
  • Table 35 Off-trade Sales of Carbonates by Category: Volume 2018-2023
  • Table 36 Off-trade Sales of Carbonates by Category: Value 2018-2023
  • Table 37 Off-trade Sales of Carbonates by Category: % Volume Growth 2018-2023
  • Table 38 Off-trade Sales of Carbonates by Category: % Value Growth 2018-2023
  • Table 39 Total Sales of Carbonates by Fountain On-trade: Volume 2018-2023
  • Table 40 Total Sales of Carbonates by Fountain On-trade: % Volume Growth 2018-2023
  • Table 41 NBO Company Shares of Off-trade Carbonates: % Volume 2019-2023
  • Table 42 LBN Brand Shares of Off-trade Carbonates: % Volume 2020-2023
  • Table 43 NBO Company Shares of Off-trade Carbonates: % Value 2019-2023
  • Table 44 LBN Brand Shares of Off-trade Carbonates: % Value 2020-2023
  • Table 45 Forecast Off-trade Sales of Carbonates by Category: Volume 2023-2028
  • Table 46 Forecast Off-trade Sales of Carbonates by Category: Value 2023-2028
  • Table 47 Forecast Off-trade Sales of Carbonates by Category: % Volume Growth 2023-2028
  • Table 48 Forecast Off-trade Sales of Carbonates by Category: % Value Growth 2023-2028
  • Table 49 Forecast Total Sales of Carbonates by Fountain On-trade: Volume 2023-2028
  • Table 50 Forecast Total Sales of Carbonates by Fountain On-trade: % Volume Growth 2023-2028
JUICE IN VIETNAMKEY DATA FINDINGS
2023 DEVELOPMENTS
  • Inflation and a gloomy economy limit the growth of juice in 2023, but the category’s healthy image remains a big plus point
  • Smaller pack sizes gaining traction among price-sensitive consumers
  • E-commerce thriving as players increasingly focus on increasing their online presence
PROSPECTS AND OPPORTUNITIES
  • Juice is expected to benefit from its healthy image and an improving economy
  • Players are expected to focus on promoting the health claims of their products while packaging will focus on convenience and sustainability
  • Coconut and other plant waters is set to be the most dynamic category thanks to healthy image
CATEGORY DATA
  • Table 51 Off-trade Sales of Juice by Category: Volume 2018-2023
  • Table 52 Off-trade Sales of Juice by Category: Value 2018-2023
  • Table 53 Off-trade Sales of Juice by Category: % Volume Growth 2018-2023
  • Table 54 Off-trade Sales of Juice by Category: % Value Growth 2018-2023
  • Table 55 NBO Company Shares of Off-trade Juice: % Volume 2019-2023
  • Table 56 LBN Brand Shares of Off-trade Juice: % Volume 2020-2023
  • Table 57 NBO Company Shares of Off-trade Juice: % Value 2019-2023
  • Table 58 LBN Brand Shares of Off-trade Juice: % Value 2020-2023
  • Table 59 Forecast Off-trade Sales of Juice by Category: Volume 2023-2028
  • Table 60 Forecast Off-trade Sales of Juice by Category: Value 2023-2028
  • Table 61 Forecast Off-trade Sales of Juice by Category: % Volume Growth 2023-2028
  • Table 62 Forecast Off-trade Sales of Juice by Category: % Value Growth 2023-2028
BOTTLED WATER IN VIETNAMKEY DATA FINDINGS
2023 DEVELOPMENTS
  • Bottled water benefits from healthy image and affordability
  • Sustainable development is the focus of players in bottled water
  • Ionised alkaline bottled water catching the attention of health conscious locals
PROSPECTS AND OPPORTUNITIES
  • Bottled water seen as healthy, convenient and affordable
  • Retail e-commerce set to increase its share within bottled water
  • Bottled water players expected to continue focusing on the development of innovative packaging
CATEGORY DATA
  • Table 63 Off-trade Sales of Bottled Water by Category: Volume 2018-2023
  • Table 64 Off-trade Sales of Bottled Water by Category: Value 2018-2023
  • Table 65 Off-trade Sales of Bottled Water by Category: % Volume Growth 2018-2023
  • Table 66 Off-trade Sales of Bottled Water by Category: % Value Growth 2018-2023
  • Table 67 NBO Company Shares of Off-trade Bottled Water: % Volume 2019-2023
  • Table 68 LBN Brand Shares of Off-trade Bottled Water: % Volume 2020-2023
  • Table 69 NBO Company Shares of Off-trade Bottled Water: % Value 2019-2023
  • Table 70 LBN Brand Shares of Off-trade Bottled Water: % Value 2020-2023
  • Table 71 Forecast Off-trade Sales of Bottled Water by Category: Volume 2023-2028
  • Table 72 Forecast Off-trade Sales of Bottled Water by Category: Value 2023-2028
  • Table 73 Forecast Off-trade Sales of Bottled Water by Category: % Volume Growth 2023-2028
  • Table 74 Forecast Off-trade Sales of Bottled Water by Category: % Value Growth 2023-2028
SPORTS DRINKS IN VIETNAMKEY DATA FINDINGS
2023 DEVELOPMENTS
  • Sport events help boost the demand for sports drinks in 2023
  • Suntory PepsiCo Vietnam Beverage Co Ltd retains the market leader in sports drinks
  • Retail e-commerce is gaining its share.
PROSPECTS AND OPPORTUNITIES
  • Sports drinks expected to benefit from improving economy and an increasing focus on health and fitness
  • Distribution of sport drinks set to expand into more channels and more areas of the country
  • Players will continue to cooperate and sponsor sport events to gain attention from consumers.
CATEGORY DATA
  • Table 75 Off-trade Sales of Sports Drinks: Volume 2018-2023
  • Table 76 Off-trade Sales of Sports Drinks: Value 2018-2023
  • Table 77 Off-trade Sales of Sports Drinks: % Volume Growth 2018-2023
  • Table 78 Off-trade Sales of Sports Drinks: % Value Growth 2018-2023
  • Table 79 NBO Company Shares of Off-trade Sports Drinks: % Volume 2019-2023
  • Table 80 LBN Brand Shares of Off-trade Sports Drinks: % Volume 2020-2023
  • Table 81 NBO Company Shares of Off-trade Sports Drinks: % Value 2019-2023
  • Table 82 LBN Brand Shares of Off-trade Sports Drinks: % Value 2020-2023
  • Table 83 Forecast Off-trade Sales of Sports Drinks: Volume 2023-2028
  • Table 84 Forecast Off-trade Sales of Sports Drinks: Value 2023-2028
  • Table 85 Forecast Off-trade Sales of Sports Drinks: % Volume Growth 2023-2028
  • Table 86 Forecast Off-trade Sales of Sports Drinks: % Value Growth 2023-2028
ENERGY DRINKS IN VIETNAMKEY DATA FINDINGS
2023 DEVELOPMENTS
  • Energy drink still records positive performance with slower growth rate
  • Marketing and new product development a key focus of energy drinks players
  • Red Bull (Vietnam) Co Ltd retains its market leader in energy drink market
PROSPECTS AND OPPORTUNITIES
  • Energy drinks is expected to become more mature with less room for development
  • Developing health and wellness trend likely to restrain the growth of energy drinks
  • Product innovation likely to be needed to stimulate stronger sales
CATEGORY DATA
  • Table 87 Off-trade Sales of Energy Drinks: Volume 2018-2023
  • Table 88 Off-trade Sales of Energy Drinks: Value 2018-2023
  • Table 89 Off-trade Sales of Energy Drinks: % Volume Growth 2018-2023
  • Table 90 Off-trade Sales of Energy Drinks: % Value Growth 2018-2023
  • Table 91 NBO Company Shares of Off-trade Energy Drinks: % Volume 2019-2023
  • Table 92 LBN Brand Shares of Off-trade Energy Drinks: % Volume 2020-2023
  • Table 93 NBO Company Shares of Off-trade Energy Drinks: % Value 2019-2023
  • Table 94 LBN Brand Shares of Off-trade Energy Drinks: % Value 2020-2023
  • Table 95 Forecast Off-trade Sales of Energy Drinks: Volume 2023-2028
  • Table 96 Forecast Off-trade Sales of Energy Drinks: Value 2023-2028
  • Table 97 Forecast Off-trade Sales of Energy Drinks: % Volume Growth 2023-2028
  • Table 98 Forecast Off-trade Sales of Energy Drinks: % Value Growth 2023-2028
CONCENTRATES IN VIETNAMKEY DATA FINDINGS
2023 DEVELOPMENTS
  • Concentrates sees steady growth in 2023 but challenges remain
  • Nestlé Vietnam continues to lead concentrates thanks to ongoing investment in new product development and marketing
  • Ajinomoto Vietnam enters powder concentrates with its Blendy brand
PROSPECTS AND OPPORTUNITIES
  • Concentrates will remain a niche market
  • Health and wellness trend likely to influence market demand with international players set to retain their dominant position
  • Retail E-commerce expected to boost sales of concentrates
CATEGORY DATA
  • Concentrates Conversions
  • Summary 2 Concentrates Conversion Factors for Ready-to-Drink (RTD) Format
  • Table 99 Off-trade Sales of Concentrates (RTD) by Category: Volume 2018-2023
  • Table 100 Off-trade Sales of Concentrates (RTD) by Category: % Volume Growth 2018-2023
  • Table 101 Off-trade Sales of Concentrates by Category: Value 2018-2023
  • Table 102 Off-trade Sales of Concentrates by Category: % Value Growth 2018-2023
  • Table 103 LBN Brand Shares of Off-trade Concentrates (RTD): % Volume 2020-2023
  • Table 104 NBO Company Shares of Off-trade Concentrates: % Value 2019-2023
  • Table 105 LBN Brand Shares of Off-trade Concentrates: % Value 2020-2023
  • Table 106 NBO Company Shares of Off-trade Liquid Concentrates (RTD): % Volume 2019-2023
  • Table 107 LBN Brand Shares of Off-trade Liquid Concentrates (RTD): % Volume 2020-2023
  • Table 108 NBO Company Shares of Off-trade Powder Concentrates (RTD): % Volume 2019-2023
  • Table 109 LBN Brand Shares of Off-trade Powder Concentrates (RTD): % Volume 2020-2023
  • Table 110 Forecast Off-trade Sales of Concentrates (RTD) by Category: Volume 2023-2028
  • Table 111 Forecast Off-trade Sales of Concentrates (RTD) by Category: % Volume Growth 2023-2028
  • Table 112 Forecast Off-trade Sales of Concentrates by Category: Value 2023-2028
  • Table 113 Forecast Off-trade Sales of Concentrates by Category: % Value Growth 2023-2028
RTD TEA IN VIETNAMKEY DATA FINDINGS
2023 DEVELOPMENTS
  • RTD tea continues to see healthy growth in 2023
  • Rising popularity of milk tea flavour while kombucha remains a new concept
  • Health and wellness trend supports the growth of reduced sugar RTD tea
PROSPECTS AND OPPORTUNITIES
  • RTD tea expected to continue recording strong and steady growth over the forecast period
  • Increasing demand for smaller pack sizes as consumers go in search of convenience and value
  • Players likely to focus on innovation to stimulate consumer demand for RTD tea
CATEGORY DATA
  • Table 114 Off-trade Sales of RTD Tea by Category: Volume 2018-2023
  • Table 115 Off-trade Sales of RTD Tea by Category: Value 2018-2023
  • Table 116 Off-trade Sales of RTD Tea by Category: % Volume Growth 2018-2023
  • Table 117 Off-trade Sales of RTD Tea by Category: % Value Growth 2018-2023
  • Table 118 Leading Flavours for Off-trade RTD Tea: % Volume 2018-2023
  • Table 119 NBO Company Shares of Off-trade RTD Tea: % Volume 2019-2023
  • Table 120 LBN Brand Shares of Off-trade RTD Tea: % Volume 2020-2023
  • Table 121 NBO Company Shares of Off-trade RTD Tea: % Value 2019-2023
  • Table 122 LBN Brand Shares of Off-trade RTD Tea: % Value 2020-2023
  • Table 123 Forecast Off-trade Sales of RTD Tea by Category: Volume 2023-2028
  • Table 124 Forecast Off-trade Sales of RTD Tea by Category: Value 2023-2028
  • Table 125 Forecast Off-trade Sales of RTD Tea by Category: % Volume Growth 2023-2028
  • Table 126 Forecast Off-trade Sales of RTD Tea by Category: % Value Growth 2023-2028
RTD COFFEE IN VIETNAMKEY DATA FINDINGS
2023 DEVELOPMENTS
  • RTD Coffee still has potential for growth in 2023
  • RTD coffee continues to face still competition fresh coffee
  • Birdy tops the rankings while e-commerce has to bring RTD coffee to a wider audience
PROSPECTS AND OPPORTUNITIES
  • A positive outlook for RTD coffee
  • Health and wellness expected to have a growing influence on new product development
  • Key players focus on product innovation to attract consumers’ interest
CATEGORY DATA
  • Table 127 Off-trade Sales of RTD Coffee: Volume 2018-2023
  • Table 128 Off-trade Sales of RTD Coffee: Value 2018-2023
  • Table 129 Off-trade Sales of RTD Coffee: % Volume Growth 2018-2023
  • Table 130 Off-trade Sales of RTD Coffee: % Value Growth 2018-2023
  • Table 131 NBO Company Shares of Off-trade RTD Coffee: % Volume 2019-2023
  • Table 132 LBN Brand Shares of Off-trade RTD Coffee: % Volume 2020-2023
  • Table 133 NBO Company Shares of Off-trade RTD Coffee: % Value 2019-2023
  • Table 134 LBN Brand Shares of Off-trade RTD Coffee: % Value 2020-2023
  • Table 135 Forecast Off-trade Sales of RTD Coffee: Volume 2023-2028
  • Table 136 Forecast Off-trade Sales of RTD Coffee: Value 2023-2028
  • Table 137 Forecast Off-trade Sales of RTD Coffee: % Volume Growth 2023-2028
  • Table 138 Forecast Off-trade Sales of RTD Coffee: % Value Growth 2023-2028
ASIAN SPECIALITY DRINKS IN VIETNAMKEY DATA FINDINGS
2023 DEVELOPMENTS
  • Asian speciality drinks witness slower growth in volume
  • Bird’s nest remains the most attractive product in Asian speciality drinks
  • Competition remains limited with little incentive for new players to invest
PROSPECTS AND OPPORTUNITIES
  • Asian speciality drinks looks set to record stable growth thanks to healthy image
  • Distribution could be key to the growth and development of Asian speciality drinks
  • Players expected to focus on product innovation to stimulate demand
CATEGORY DATA
  • Table 139 Off-trade Sales of Asian Speciality Drinks: Volume 2018-2023
  • Table 140 Off-trade Sales of Asian Speciality Drinks: Value 2018-2023
  • Table 141 Off-trade Sales of Asian Speciality Drinks: % Volume Growth 2018-2023
  • Table 142 Off-trade Sales of Asian Speciality Drinks: % Value Growth 2018-2023
  • Table 143 NBO Company Shares of Off-trade Asian Speciality Drinks: % Volume 2019-2023
  • Table 144 LBN Brand Shares of Off-trade Asian Speciality Drinks: % Volume 2020-2023
  • Table 145 NBO Company Shares of Off-trade Asian Speciality Drinks: % Value 2019-2023
  • Table 146 LBN Brand Shares of Off-trade Asian Speciality Drinks: % Value 2020-2023
  • Table 147 Forecast Off-trade Sales of Asian Speciality Drinks: Volume 2023-2028
  • Table 148 Forecast Off-trade Sales of Asian Speciality Drinks: Value 2023-2028
  • Table 149 Forecast Off-trade Sales of Asian Speciality Drinks: % Volume Growth 2023-2028
  • Table 150 Forecast Off-trade Sales of Asian Speciality Drinks: % Value Growth 2023-2028