Non-Alcoholic Drinks - Vietnam

The Non-Alcoholic Drinks market in Vietnam has been experiencing significant growth in recent years.

Customer preferences: Vietnamese consumers are increasingly opting for healthier beverage options, leading to a rise in demand for non-alcoholic drinks. This shift in consumer preferences can be attributed to a growing awareness of the health benefits associated with consuming non-alcoholic beverages. Additionally, there is a rising trend of consumers seeking out natural and organic products, which has further fueled the demand for non-alcoholic drinks in Vietnam.

Trends in the market: One of the key trends in the non-alcoholic drinks market in Vietnam is the increasing popularity of functional beverages. Functional beverages are drinks that offer additional health benefits beyond basic hydration. These beverages often contain ingredients such as vitamins, minerals, and antioxidants. Vietnamese consumers are embracing functional beverages as a way to enhance their overall well-being. Another trend in the market is the growing demand for ready-to-drink (RTD) beverages. RTD beverages are pre-packaged drinks that are ready for immediate consumption. This convenience factor has made RTD beverages a preferred choice among busy Vietnamese consumers who are constantly on the go. The availability of a wide range of RTD options, including fruit juices, iced teas, and energy drinks, has further contributed to their popularity in the market.

Local special circumstances: Vietnam is a tropical country with a hot and humid climate, making non-alcoholic drinks a popular choice among consumers to quench their thirst and stay hydrated. The availability of a wide variety of tropical fruits in Vietnam has also contributed to the popularity of non-alcoholic fruit juices and smoothies in the market. Vietnamese consumers appreciate the freshness and natural flavors of these beverages.

Underlying macroeconomic factors: The growing middle class in Vietnam has led to an increase in disposable income, allowing consumers to spend more on non-essential items such as non-alcoholic drinks. This rise in disposable income has also resulted in a shift towards healthier lifestyles, with consumers willing to pay a premium for higher quality and healthier beverage options. Furthermore, the rapid urbanization and modernization of Vietnam have led to changes in consumer behavior and preferences. As more Vietnamese consumers become exposed to international trends and influences, they are seeking out non-alcoholic drinks that align with global health and wellness trends. In conclusion, the Non-Alcoholic Drinks market in Vietnam is experiencing growth due to changing customer preferences towards healthier options, the popularity of functional beverages, the demand for ready-to-drink options, the tropical climate, and the rising disposable income of the middle class. These factors, combined with the influence of urbanization and modernization, have created a favorable environment for the development of the non-alcoholic drinks market in Vietnam.

Data coverage:

The data encompasses B2C enterprises. The at-home market covers retail sales via super- and hypermarkets, eCommerce, convenience stores, or similar sales channels. The out-of-home data encompasses all sales to hotels, restaurants, catering, cafés, bars, and similar hospitality service establishments. Combined numbers encompass both the at-home market and the out-of-home market. Both the at-home and the out-of-home market are valued at retail selling prices including all sales and consumption taxes.

Modeling approach:

Market sizes are determined through a Top-Down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending (e.g. consumer spending on Non-Alcoholic Drinks, consumer spending at Hotels, Restaurants etc.), and price level index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Non-Alcoholic Drinks market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.