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.
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
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 2023
- Table 6 Off-trade vs On-trade Sales of Soft Drinks (as sold) by Category: % Volume 2023
- Table 7 Off-trade vs On-trade Sales of Soft Drinks by Category: Value 2023
- Table 8 Off-trade vs On-trade Sales of Soft Drinks by Category: % Value 2023
- 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
SOURCES
- Summary 1 Research Sources
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
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
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
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
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
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
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
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
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