The beverage industry in Vietnam has existed for a long time, however it started developing significantly over a past decade, underpinned by several sectors:
- The policy of innovation - The participation in FTAs - The recovery and remarkable development of the economy - The growth of international tourism and FDI
Along with the whole development of the economy, Vietnam beverage market has also expanded and gradually met the domestic increasing demand. Overall, the beer and soft drink sectors still take up major shares, while alcohol holds the small proportion in the whole industry.
However, the beer industry has showed signs of saturation due to the dependence on material import and the dominance on the premium segment of FDI Corporations. The soft drink industry has great developing potential with the advantage of both quantity and material quality, but it is still lacking stability. The market has seen the appearance of many foreign players with 4 in 5 largest enterprises in the market is FDI businesses, holding nearly 50% of market shares.
Alcohol market size is small, however the domestic wine market is full of potential as it is favoured by clients in middle-class. Domestic Spirits market is underdeveloped, dominated by premium Spirits from Europe and the America.
Among top enterprises in the industry, there are only a few domestic ones with large-scale and strong brands able to compete with FDI firms. The rest is considered insignificant with weak competitiveness. However, enterprises are generally maintained stable trade with revenue upslightly thanks to the increase in sales costs.
In the coming period, the potential of the industry is expected to be very significant due to the expanding of the market and the development of related sectors such as tourism and retails. Besides, by analysing the SWOT and 5-forces analysists, there are still existing the risks which threaten the success of businesses joining the market.
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