Soft Drinks in Vietnam - Research and Markets

Sales of hot drinks in Vietnam registered a downturn in demand during the height of the COVID-19 crisis in 2020 and 2021. This was mainly due to a significant declines in foodservice sales, as pandemic-related restrictions forced the closure of all on-trade channels. Another major factor placing pressure on the on-trade channel, even after its reopening, was a dramatic decline in inbound tourism flows.

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 (2017-2021), 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 2026 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.

SOFT DRINKS IN VIETNAM

EXECUTIVE SUMMARY

Soft drinks in 2022: The big pictures
2022 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 2017-2022
Table 2 Off-trade vs On-trade Sales of Soft Drinks (RTD) by Channel: % Volume Growth 2017-2022
Table 3 Off-trade vs On-trade Sales of Soft Drinks by Channel: Value 2017-2022
Table 4 Off-trade vs On-trade Sales of Soft Drinks by Channel: % Value Growth 2017-2022
Table 5 Off-trade vs On-trade Sales of Soft Drinks (as sold) by Category: Volume 2021
Table 6 Off-trade vs On-trade Sales of Soft Drinks (as sold) by Category: % Volume 2021
Table 7 Off-trade vs On-trade Sales of Soft Drinks by Category: Value 2021
Table 8 Off-trade vs On-trade Sales of Soft Drinks by Category: % Value 2021
Table 9 Off-trade Sales of Soft Drinks (RTD) by Category: Volume 2017-2022
Table 10 Off-trade Sales of Soft Drinks (RTD) by Category: % Volume Growth 2017-2022
Table 11 Off-trade Sales of Soft Drinks by Category: Value 2017-2022
Table 12 Off-trade Sales of Soft Drinks by Category: % Value Growth 2017-2022
Table 13 Sales of Soft Drinks by Total Fountain On-trade: Volume 2017-2022
Table 14 Sales of Soft Drinks by Total Fountain On-trade: % Volume Growth 2017-2022
Table 15 NBO Company Shares of Off-trade Soft Drinks (RTD): % Volume 2018-2022
Table 16 LBN Brand Shares of Off-trade Soft Drinks (RTD): % Volume 2019-2022
Table 17 NBO Company Shares of Off-trade Soft Drinks: % Value 2018-2022
Table 18 LBN Brand Shares of Off-trade Soft Drinks: % Value 2019-2022
Table 19 Distribution of Off-trade Soft Drinks (as sold) by Format: % Volume 2017-2022
Table 20 Distribution of Off-trade Soft Drinks (as sold) by Format and Category: % Volume 2022
Table 21 Forecast Off-trade vs On-trade Sales of Soft Drinks (RTD) by Channel: Volume 2022-2027
Table 22 Forecast Off-trade vs On-trade Sales of Soft Drinks (RTD) by Channel: % Volume Growth 2022-2027
Table 23 Forecast Off-trade vs On-trade Sales of Soft Drinks by Channel: Value 2022-2027
Table 24 Forecast Off-trade vs On-trade Sales of Soft Drinks by Channel: % Value Growth 2022-2027
Table 25 Forecast Off-trade Sales of Soft Drinks (RTD) by Category: Volume 2022-2027
Table 26 Forecast Off-trade Sales of Soft Drinks (RTD) by Category: % Volume Growth 2022-2027
Table 27 Forecast Off-trade Sales of Soft Drinks by Category: Value 2022-2027
Table 28 Forecast Off-trade Sales of Soft Drinks by Category: % Value Growth 2022-2027
Table 29 Forecast Sales of Soft Drinks by Total Fountain On-trade: Volume 2022-2027
Table 30 Forecast Sales of Soft Drinks by Total Fountain On-trade: % Volume Growth 2022-2027

APPENDIX

Fountain sales in Vietnam

DISCLAIMER

SOURCES

Summary 1 Research Sources

CARBONATES IN VIETNAMKEY DATA FINDINGS

2022 DEVELOPMENTS

Return to positive growth, thanks to the recovery of on-trade channels
Reduced sugar carbonates continue to gain popularity
Key players pursue a sustainable packaging strategy

PROSPECTS AND OPPORTUNITIES

Strong growth predicted for carbonates, in line with rising levels of consumer confidence, but health and wellness trends will have an impact on sales
International players are expected to continue with their marketing and promotional activities, while corporate responsibility will be an important focus
Key players to strengthen their e-commerce presence to boost sales

CATEGORY DATA

Table 31 Off-trade vs On-trade Sales of Carbonates: Volume 2017-2022
Table 32 Off-trade vs On-trade Sales of Carbonates: Value 2017-2022
Table 33 Off-trade vs On-trade Sales of Carbonates: % Volume Growth 2017-2022
Table 34 Off-trade vs On-trade Sales of Carbonates: % Value Growth 2017-2022
Table 35 Off-trade Sales of Carbonates by Category: Volume 2017-2022
Table 36 Off-trade Sales of Carbonates by Category: Value 2017-2022
Table 37 Off-trade Sales of Carbonates by Category: % Volume Growth 2017-2022
Table 38 Off-trade Sales of Carbonates by Category: % Value Growth 2017-2022
Table 39 Total Sales of Carbonates by Fountain On-trade: Volume 2017-2022
Table 40 Total Sales of Carbonates by Fountain On-trade: % Volume Growth 2017-2022
Table 41 NBO Company Shares of Off-trade Carbonates: % Volume 2018-2022
Table 42 LBN Brand Shares of Off-trade Carbonates: % Volume 2019-2022
Table 43 NBO Company Shares of Off-trade Carbonates: % Value 2018-2022
Table 44 LBN Brand Shares of Off-trade Carbonates: % Value 2019-2022
Table 45 Forecast Off-trade Sales of Carbonates by Category: Volume 2022-2027
Table 46 Forecast Off-trade Sales of Carbonates by Category: Value 2022-2027
Table 47 Forecast Off-trade Sales of Carbonates by Category: % Volume Growth 2022-2027
Table 48 Forecast Off-trade Sales of Carbonates by Category: % Value Growth 2022-2027
Table 49 Forecast Total Sales of Carbonates by Fountain On-trade: Volume 2022-2027
Table 50 Forecast Total Sales of Carbonates by Fountain On-trade: % Volume Growth 2022-2027

JUICE IN VIETNAMKEY DATA FINDINGS

2022 DEVELOPMENTS

Juice records stronger volume growth in 2022 in line with rising consumer demand
Imported brands establish stronger presence in 2022
Coconut and other plant waters see most dynamic performance in 2022

PROSPECTS AND OPPORTUNITIES

Continued positive performance, in line with return to pre-pandemic lifestyles and ongoing health and wellness trends
Key players to focus on juices with functional benefits
Coconut and other plant waters to maintain robust growth

CATEGORY DATA

Table 51 Off-trade Sales of Juice by Category: Volume 2017-2022
Table 52 Off-trade Sales of Juice by Category: Value 2017-2022
Table 53 Off-trade Sales of Juice by Category: % Volume Growth 2017-2022
Table 54 Off-trade Sales of Juice by Category: % Value Growth 2017-2022
Table 55 NBO Company Shares of Off-trade Juice: % Volume 2018-2022
Table 56 LBN Brand Shares of Off-trade Juice: % Volume 2019-2022
Table 57 NBO Company Shares of Off-trade Juice: % Value 2018-2022
Table 58 LBN Brand Shares of Off-trade Juice: % Value 2019-2022
Table 59 Forecast Off-trade Sales of Juice by Category: Volume 2022-2027
Table 60 Forecast Off-trade Sales of Juice by Category: Value 2022-2027
Table 61 Forecast Off-trade Sales of Juice by Category: % Volume Growth 2022-2027
Table 62 Forecast Off-trade Sales of Juice by Category: % Value Growth 2022-2027

BOTTLED WATER IN VIETNAMKEY DATA FINDINGS

2022 DEVELOPMENTS

Improved performance in line with recovery of foodservice and rising levels of health and wellness
Key players bolster their sustainability credentials.
Imported brands in still natural bottled mineral water witness stronger presence.

PROSPECTS AND OPPORTUNITIES

Healthy growth expected, in line with a return to pre-pandemic lifestyles and health and wellness trends
Sparkling flavoured bottled water will become more significant
Product innovation will stimulate consumers’ interest, with a focus on sustainability

CATEGORY DATA

Table 63 Off-trade Sales of Bottled Water by Category: Volume 2017-2022
Table 64 Off-trade Sales of Bottled Water by Category: Value 2017-2022
Table 65 Off-trade Sales of Bottled Water by Category: % Volume Growth 2017-2022
Table 66 Off-trade Sales of Bottled Water by Category: % Value Growth 2017-2022
Table 67 NBO Company Shares of Off-trade Bottled Water: % Volume 2018-2022
Table 68 LBN Brand Shares of Off-trade Bottled Water: % Volume 2019-2022
Table 69 NBO Company Shares of Off-trade Bottled Water: % Value 2018-2022
Table 70 LBN Brand Shares of Off-trade Bottled Water: % Value 2019-2022
Table 71 Forecast Off-trade Sales of Bottled Water by Category: Volume 2022-2027
Table 72 Forecast Off-trade Sales of Bottled Water by Category: Value 2022-2027
Table 73 Forecast Off-trade Sales of Bottled Water by Category: % Volume Growth 2022-2027
Table 74 Forecast Off-trade Sales of Bottled Water by Category: % Value Growth 2022-2027

SPORTS DRINKS IN VIETNAMKEY DATA FINDINGS

2022 DEVELOPMENTS

Sports drinks register faster growth, due to the reopening of sporting activities
International players dominate sports drinks, with both 7-Up Revive and Pocari Sweat seeing their share increase
Convenience stores and retail e-commerce grow in importance

PROSPECTS AND OPPORTUNITIES

Positive outlook for sports drinks, as consumers resume sporting activities
Sports drink powder poses a potential threat
Multinationals to focus on innovation, in view of increased competition from smaller players

CATEGORY DATA

Table 75 Off-trade Sales of Sports Drinks: Volume 2017-2022
Table 76 Off-trade Sales of Sports Drinks: Value 2017-2022
Table 77 Off-trade Sales of Sports Drinks: % Volume Growth 2017-2022
Table 78 Off-trade Sales of Sports Drinks: % Value Growth 2017-2022
Table 79 NBO Company Shares of Off-trade Sports Drinks: % Volume 2018-2022
Table 80 LBN Brand Shares of Off-trade Sports Drinks: % Volume 2019-2022
Table 81 NBO Company Shares of Off-trade Sports Drinks: % Value 2018-2022
Table 82 LBN Brand Shares of Off-trade Sports Drinks: % Value 2019-2022
Table 83 Forecast Off-trade Sales of Sports Drinks: Volume 2022-2027
Table 84 Forecast Off-trade Sales of Sports Drinks: Value 2022-2027
Table 85 Forecast Off-trade Sales of Sports Drinks: % Volume Growth 2022-2027
Table 86 Forecast Off-trade Sales of Sports Drinks: % Value Growth 2022-2027

ENERGY DRINKS IN VIETNAMKEY DATA FINDINGS

2022 DEVELOPMENTS

Stronger demand in 2022
Product innovation in the form of new flavours and low sugar variants stimulates consumer interest
Competition becomes more intense

PROSPECTS AND OPPORTUNITIES

Continued strong growth, despite health and wellness trends
Reduced sugar energy drinks will establish stronger presence
Key players are expected to focus on driving growth in rural areas.

CATEGORY DATA

Table 87 Off-trade Sales of Energy Drinks: Volume 2017-2022
Table 88 Off-trade Sales of Energy Drinks: Value 2017-2022
Table 89 Off-trade Sales of Energy Drinks: % Volume Growth 2017-2022
Table 90 Off-trade Sales of Energy Drinks: % Value Growth 2017-2022
Table 91 NBO Company Shares of Off-trade Energy Drinks: % Volume 2018-2022
Table 92 LBN Brand Shares of Off-trade Energy Drinks: % Volume 2019-2022
Table 93 NBO Company Shares of Off-trade Energy Drinks: % Value 2018-2022
Table 94 LBN Brand Shares of Off-trade Energy Drinks: % Value 2019-2022
Table 95 Forecast Off-trade Sales of Energy Drinks: Volume 2022-2027
Table 96 Forecast Off-trade Sales of Energy Drinks: Value 2022-2027
Table 97 Forecast Off-trade Sales of Energy Drinks: % Volume Growth 2022-2027
Table 98 Forecast Off-trade Sales of Energy Drinks: % Value Growth 2022-2027

CONCENTRATES IN VIETNAMKEY DATA FINDINGS

2022 DEVELOPMENTS

Concentrates record stronger growth in 2022, in line with rising levels of consumer confidence
Powder concentrates witness higher demand than liquid concentrates
International players continue to dominate the market

PROSPECTS AND OPPORTUNITIES

Concentrates will remain a niche area of soft drinks, with value-for-money powder varieties dominating sales
Nestle Vietnam is expected to lead product innovation in concentrates
Retail e-commerce will help players to expand sales into rural areas

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 2017-2022
Table 100 Off-trade Sales of Concentrates (RTD) by Category: % Volume Growth 2017-2022
Table 101 Off-trade Sales of Concentrates by Category: Value 2017-2022
Table 102 Off-trade Sales of Concentrates by Category: % Value Growth 2017-2022
Table 103 LBN Brand Shares of Off-trade Concentrates (RTD): % Volume 2019-2022
Table 104 NBO Company Shares of Off-trade Concentrates: % Value 2018-2022
Table 105 LBN Brand Shares of Off-trade Concentrates: % Value 2019-2022
Table 106 NBO Company Shares of Off-trade Liquid Concentrates (RTD): % Volume 2018-2022
Table 107 LBN Brand Shares of Off-trade Liquid Concentrates (RTD): % Volume 2019-2022
Table 108 NBO Company Shares of Off-trade Powder Concentrates (RTD): % Volume 2018-2022
Table 109 LBN Brand Shares of Off-trade Powder Concentrates (RTD): % Volume 2019-2022
Table 110 Forecast Off-trade Sales of Concentrates (RTD) by Category: Volume 2022-2027
Table 111 Forecast Off-trade Sales of Concentrates (RTD) by Category: % Volume Growth 2022-2027
Table 112 Forecast Off-trade Sales of Concentrates by Category: Value 2022-2027
Table 113 Forecast Off-trade Sales of Concentrates by Category: % Value Growth 2022-2027

RTD TEA IN VIETNAMKEY DATA FINDINGS

2022 DEVELOPMENTS

Signs of recovery in foodservice sales in 2022
Health and wellness trends drive consumer behaviour
Tan Hiep Phat Group loses share in 2022, while its rivals focus on new healthier variants and new flavour combinations

PROSPECTS AND OPPORTUNITIES

RTD tea is expected to record positive performance
Stronger competition between top players
Reduced sugar RTD tea is expected to record stronger presence

CATEGORY DATA

Table 114 Off-trade Sales of RTD Tea by Category: Volume 2017-2022
Table 115 Off-trade Sales of RTD Tea by Category: Value 2017-2022
Table 116 Off-trade Sales of RTD Tea by Category: % Volume Growth 2017-2022
Table 117 Off-trade Sales of RTD Tea by Category: % Value Growth 2017-2022
Table 118 Leading Flavours for Off-trade RTD Tea: % Volume 2017-2022
Table 119 NBO Company Shares of Off-trade RTD Tea: % Volume 2018-2022
Table 120 LBN Brand Shares of Off-trade RTD Tea: % Volume 2019-2022
Table 121 NBO Company Shares of Off-trade RTD Tea: % Value 2018-2022
Table 122 LBN Brand Shares of Off-trade RTD Tea: % Value 2019-2022
Table 123 Forecast Off-trade Sales of RTD Tea by Category: Volume 2022-2027
Table 124 Forecast Off-trade Sales of RTD Tea by Category: Value 2022-2027
Table 125 Forecast Off-trade Sales of RTD Tea by Category: % Volume Growth 2022-2027
Table 126 Forecast Off-trade Sales of RTD Tea by Category: % Value Growth 2022-2027

RTD COFFEE IN VIETNAMKEY DATA FINDINGS

2022 DEVELOPMENTS

Positive growth trend continues in 2022, but sales remain underdeveloped.
Nestlé Vietnam Ltd sees rapid growth in share as a result of new product development and extensive distribution
Key players strengthen relationships with e-commerce retailers

PROSPECTS AND OPPORTUNITIES

RTD coffee still offers much potential for growth
Convenience stores and retail e-commerce channel will support sales expansion
Players to focus on improving RTD coffee flavour and packaging to stimulate consumer demand

CATEGORY DATA

Table 127 Off-trade Sales of RTD Coffee: Volume 2017-2022
Table 128 Off-trade Sales of RTD Coffee: Value 2017-2022
Table 129 Off-trade Sales of RTD Coffee: % Volume Growth 2017-2022
Table 130 Off-trade Sales of RTD Coffee: % Value Growth 2017-2022
Table 131 NBO Company Shares of Off-trade RTD Coffee: % Volume 2018-2022
Table 132 LBN Brand Shares of Off-trade RTD Coffee: % Volume 2019-2022
Table 133 NBO Company Shares of Off-trade RTD Coffee: % Value 2018-2022
Table 134 LBN Brand Shares of Off-trade RTD Coffee: % Value 2019-2022
Table 135 Forecast Off-trade Sales of RTD Coffee: Volume 2022-2027
Table 136 Forecast Off-trade Sales of RTD Coffee: Value 2022-2027
Table 137 Forecast Off-trade Sales of RTD Coffee: % Volume Growth 2022-2027
Table 138 Forecast Off-trade Sales of RTD Coffee: % Value Growth 2022-2027

ASIAN SPECIALITY DRINKS IN VIETNAMKEY DATA FINDINGS

2022 DEVELOPMENTS

Asian speciality drinks record positive performance in 2022
Limited marketing and advertising by the leading players
Focus on healthier and fortified variants

PROSPECTS AND OPPORTUNITIES

Positive outlook in line with rising health and wellness trends
Immature category offers potential for existing soft drinks players
Focus on product innovation and distribution, rather than marketing activities

CATEGORY DATA

Table 139 Off-trade Sales of Asian Speciality Drinks: Volume 2017-2022
Table 140 Off-trade Sales of Asian Speciality Drinks: Value 2017-2022
Table 141 Off-trade Sales of Asian Speciality Drinks: % Volume Growth 2017-2022
Table 142 Off-trade Sales of Asian Speciality Drinks: % Value Growth 2017-2022
Table 143 NBO Company Shares of Off-trade Asian Speciality Drinks: % Volume 2018-2022
Table 144 LBN Brand Shares of Off-trade Asian Speciality Drinks: % Volume 2019-2022
Table 145 NBO Company Shares of Off-trade Asian Speciality Drinks: % Value 2018-2022
Table 146 LBN Brand Shares of Off-trade Asian Speciality Drinks: % Value 2019-2022
Table 147 Forecast Off-trade Sales of Asian Speciality Drinks: Volume 2022-2027
Table 148 Forecast Off-trade Sales of Asian Speciality Drinks: Value 2022-2027
Table 149 Forecast Off-trade Sales of Asian Speciality Drinks: % Volume Growth 2022-2027
Table 150 Forecast Off-trade Sales of Asian Speciality Drinks: % Value Growth 2022-2027