Vietnam Beer Market (2023-2029) | Value, Size, Trends, Outlook, Share, Analysis, Revenue, Forecast, Companies, Growth, Industry & COVID-19 IMPACT

Topics Covered in the Vietnam Beer Market

Vietnam Beer Market report thoroughly covers the market by type, by category, by packaging, and by production. The market outlook report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

Vietnam Beer Market Synopsis

Vietnam Beer Market 2023 has experienced robust growth over the years, driven by changing consumer preferences, urbanization, and a growing young population. Beer is a popular alcoholic beverage in Vietnam, deeply ingrained in its culture and social life. The market features a wide range of domestic and international beer brands, offering various flavors and styles to cater to diverse consumer tastes. Key players in the market have been actively engaging in marketing and branding activities to differentiate their products and capture a larger market share. Additionally, the rise of craft beer and premium beer segments has added further dynamism to the market, appealing to discerning consumers seeking unique and high-quality beer experiences.

According to 6Wresearch, the Vietnam Beer Market is projected to grow by 8.86% resulting in a market volume of US$7.06bn in during the forecast period of 2023-2029.  The country has been one of the fastest-growing beer markets in Southeast Asia, with a strong and growing beer consumption culture. The Vietnam beer market has seen trends toward premiumization, with consumers increasingly willing to pay more for imported beers. The Competition is intense in the beer market, both among local brands and international players. Also, the beer companies of Vietnam have started to explore export opportunities to neighboring countries and international markets, which lead to further growth in the industry.

Drivers of the Market

The Vietnam Beer Market has experienced substantial growth due to several key drivers. Firstly, the country`s growing young population, along with an increasing disposable income, has led to a rise in the consumption of alcoholic beverages, particularly beer. The popularity of beer as a social and recreational drink has contributed to its significant demand in Vietnam. Secondly, the cultural significance of beer in Vietnamese social gatherings, celebrations, and dining experiences has further driven the consumption of beer across different demographic groups. Moreover, the growing urbanization and changing lifestyle patterns have led to an increase in the number of entertainment venues, such as bars, restaurants, and clubs, promoting beer consumption. The presence of a diverse range of domestic and international beer brands, offering various flavors and styles, has also played a pivotal role in stimulating the Vietnam Beer Market Growth.

Challenges of the Market

The Vietnam Beer Market faces several challenges that impact its growth and sustainability. Firstly, strict government regulations and taxation policies on alcohol sales and advertising can limit the marketing and distribution opportunities for beer manufacturers. Adhering to compliance standards and navigating regulatory hurdles pose challenges for market players. Secondly, the increasing health consciousness among consumers and a growing preference for healthier lifestyle choices can lead to reduced alcohol consumption, including beer. Market players need to diversify their product offerings and introduce low-alcohol or alcohol-free beer options to cater to health-conscious consumers. Additionally, counterfeit, and smuggled beer products can affect the market`s revenue and lead to consumer distrust. Ensuring stringent quality control and authenticity verification measures is crucial to combat this challenge.

History of the Vietnam Beer Market

The production of beer production in Vietnam dates to the French colonial period, with the establishment of Bia Hue in the early 20th century. The Vietnam War had a substantial influence on the beer industry, but after the war ended in the mid-1970s, the government took steps to modernize the industry. In the 2000s, the government privatized some state-owned breweries allowing them to operate more independently and expand their product portfolios. In the late 20th century and early 21st century, foreign beer companies like Heineken and Carlsberg entered the Vietnam market, leading to intense competition and the introduction of international beer brands.

Vietnam Beer Consumption Per Capita

Vietnam has seen a notable increase in beer consumption per capita over the years, driven by economic growth, urbanization, and changing consumer preferences. In general, Vietnam beer consumption per capita was estimated to be around 43-46 litres per person per year, making it one of the largest beer markets in Southeast Asia. Additionally, beer is a popular beverage in Vietnam culture and is often consumed in social gatherings. The affordability of beer compared to other alcoholic beverages has also contributed to its immense popularity.

Government policies and schemes introduced in the Vietnam Beer Market

The government imposes excise taxes on alcoholic beverages. These taxes have a significant impact on beer prices and beer consumption in Vietnam. The government has implemented restrictions on the advertising of alcoholic beverages to address public health concerns and prevent excessive consumption.  Additionally, Vietnam has implemented alcohol control programs and campaigns to raise awareness about the potential health risks associated with excessive alcohol consumption. Vietnam has further entered into various trade agreements that may impact the beer market, such as the European Union-Vietnam Free Trade Agreement (EVFTA) and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).

The Impact of COVID-19 on the Vietnam Beer Market

The beer industry in Vietnam encountered substantial challenges during the COVID-19 pandemic. The closure of bars, restaurants, and entertainment venues led to a sharp decline in on-premise consumption. Moreover, restrictions on gatherings and social events affected sales during traditional festive seasons. However, off-premise sales through retail channels and e-commerce platforms partially offset the losses. Breweries also adapted by offering home delivery services. As the situation improved and consumer confidence returned, the beer market began to recover, especially with the resurgence of social activities.

Foremost players in the Vietnam Beer Market

The beer market of Vietnam is extremely competitive with the presence of major key players such as;

• Hanoi Beer Alcohol and Beverage Corporation (Habeco): This company produces popular beer brands like Hanoi Beer and Truc Bach Beer.
• Sabeco (Saigon Beer - Alcohol - Beverage Corporation): Sabeco is one of the largest beer producers in Vietnam. It produces a wide range of beer brands.
• Heineken Vietnam Brewery: Heineken is a global brewing company with a significant presence in Vietnam.
• Carlsberg Vietnam: Carlsberg is a Danish brewing company that produces Carlsberg and Tuborg beers, among others.
• Sapporo Vietnam: Sapporo also has a presence in Vietnam and offers a wide range of beer products.

Market analysis by Packaging

According to Dhaval, Research Manager, 6Wresearch, PET bottles and metal cans are becoming popular due to convenience and affordability. PET bottles are gaining popularity due to their convenience and portability while canned beer is convenient and has a longer shelf life.

Market Analysis by Production

By production, craft breweries are expected to dominate the Vietnam Beer Market Share as this segment appeals to consumers seeking diverse and flavorful beer options. Also, the growth is driven by changing consumer preferences and a desire for premium beer options.

Key attractiveness of the report

• COVID-19 Impact on the Market.
• 10 Years Market Numbers.
• Historical Data Starting from 2019 to 2022.
• Base Year: 2022.
• Forecast Data until 2029.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report:

• Vietnam Beer Market Outlook
• Market Size of Vietnam Beer Market, 2022
• Forecast of Vietnam Beer Market, 2029
• Historical Data and Forecast of Vietnam Beer Revenues & Volume for the Period 2019 - 2029
• Vietnam Beer Market Trend Evolution
• Vietnam Beer Market Drivers and Challenges
• Vietnam Beer Price Trends
• Vietnam Beer Porter's Five Forces
• Vietnam Beer Industry Life Cycle
• Historical Data and Forecast of Vietnam Beer Market Revenues & Volume By Type for the Period 2019 - 2029
• Historical Data and Forecast of Vietnam Beer Market Revenues & Volume By Lager for the Period 2019 - 2029
• Historical Data and Forecast of Vietnam Beer Market Revenues & Volume By Ale for the Period 2019 - 2029
• Historical Data and Forecast of Vietnam Beer Market Revenues & Volume By Stout & Porter for the Period 2019 - 2029
• Historical Data and Forecast of Vietnam Beer Market Revenues & Volume By Malt for the Period 2019 - 2029
• Historical Data and Forecast of Vietnam Beer Market Revenues & Volume By Others for the Period 2019 - 2029
• Historical Data and Forecast of Vietnam Beer Market Revenues & Volume By Category for the Period 2019 - 2029
• Historical Data and Forecast of Vietnam Beer Market Revenues & Volume By Popular Price for the Period 2019 - 2029
• Historical Data and Forecast of Vietnam Beer Market Revenues & Volume By Premium for the Period 2019 - 2029
• Historical Data and Forecast of Vietnam Beer Market Revenues & Volume By Super Premium for the Period 2019 - 2029
• Historical Data and Forecast of Vietnam Beer Market Revenues & Volume By Packaging for the Period 2019 - 2029
• Historical Data and Forecast of Vietnam Beer Market Revenues & Volume By Glass for the Period 2019 - 2029
• Historical Data and Forecast of Vietnam Beer Market Revenues & Volume By PET Bottle for the Period 2019 - 2029
• Historical Data and Forecast of Vietnam Beer Market Revenues & Volume By Metal Can for the Period 2019 - 2029
• Historical Data and Forecast of Vietnam Beer Market Revenues & Volume By Others for the Period 2019 - 2029
• Historical Data and Forecast of Vietnam Beer Market Revenues & Volume By Production for the Period 2019 - 2029
• Historical Data and Forecast of Vietnam Beer Market Revenues & Volume By Macro-brewery for the Period 2019 - 2029
• Historical Data and Forecast of Vietnam Beer Market Revenues & Volume By Micro-brewery for the Period 2019 - 2029
• Historical Data and Forecast of Vietnam Beer Market Revenues & Volume By Craft Brewery for the Period 2019 - 2029
• Historical Data and Forecast of Vietnam Beer Market Revenues & Volume By Others for the Period 2019 - 2029
• Vietnam Beer Import Export Trade Statistics
• Market Opportunity Assessment By Type
• Market Opportunity Assessment By Category
• Market Opportunity Assessment By Packaging
• Market Opportunity Assessment By Production
• Vietnam Beer Top Companies Market Share
• Vietnam Beer Competitive Benchmarking By Technical and Operational Parameters
• Vietnam Beer Company Profiles
• Vietnam Beer Key Strategic Recommendations

Market Covered

The report offers a comprehensive study of the subsequent market segments:

By Type

• Lager
• Ale
• Stout & Porter
• Malt
• Others

By Category

• Popular Price
• Premium
• Super Premium

By Packaging

• Glass
• PET Bottle
• Metal Can
• Others

By Production

• Macro-Brewery
• Micro-Brewery
• Craft Brewery
• Others