Vietnam Wine Market Forecast 2023-2030

Vietnam Wine Market Forecast 2023-2030

KEY FINDINGS

The Vietnam wine market growth is anticipated to progress at a CAGR of 10.93% in terms of revenue and 6.29% in terms of volume during the forecast period, 2023-2030. The Vietnam wine market presents significant opportunities for growth, driven by changing consumer preferences and increasing incomes. However, challenges related to import regulations and cultural factors persist.

MARKET INSIGHTS

The Vietnam wine market growth is primarily attributed to changing consumer preferences, increasing disposable incomes, and a burgeoning interest in wine culture. Vietnamese consumers are moving towards premium and imported wines, shifting away from traditional rice wines. This trend is driven by a desire for quality and sophistication.

Further, e-commerce platforms and digital marketing have gained prominence, enabling consumers to explore and purchase a wide range of wines online. This trend has accelerated during the COVID-19 pandemic. Additionally, wine tourism is gaining traction, with several vineyards and wineries opening their doors to visitors. This trend has the potential to enhance wine culture and education in Vietnam.

At the same time, traditional alcoholic beverages, such as rice wine and beer, still dominate the market due to cultural preferences. Convincing consumers to embrace wine as an alternative remains a challenge.

COMPETITIVE INSIGHTS

Some of the key players in the market are LVMH Moët Hennessy Louis Vuitton SA, Lamdong Foodstuffs JSC, Constellation Brands Inc, etc.

Our report offerings include:
• Explore key findings of the overall market
• Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
• Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
• Market Segmentation caters to a thorough assessment of key segments with their market estimations
• Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
• Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
• The competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
• Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments