Rise in Demand for Flavored Beverages in Food and Beverage Industries Expected to Drive Vietnam Beverages Industry: Ken Research

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Beverage is a liquid to consume, generally excluding water. It can be alcoholic and non-alcoholic. Alcoholic beverage comprises edible alcohol called ethyl alcohol. Alcoholic beverage is classified into three categories: distilled (rum, vodka and brandy), fermented (wines, beer), and compound (liqueurs and gin). Non-alcoholic beverage is also categorized into three categories: refreshing (cold drinks and spring water), stimulating (tea & coffee), and nourishing (milk based products and fruits & vegetables). The key benefits are included abundance of antioxidants, vitamins and minerals.

Vietnam Beverages IndustryAccording to study, “Vietnam Beverages Comprehensive Report Q4/2019” the key companies operating in the Vietnam beverages industry are Saigon Beer-Alcohol-Beverage Joint Stock Corporation (Sabeco), Hanoi Beer-Alcohol-Beverage Joint Stock Corporation (Habeco), Vietnam Brewery Limited Company (VBL), MTV Lam Dong Food Limited Company, Ha Noi Liquor Joint Stock Company, Thang Long Wine Joint Stock Company, Binh Tay Liquor Joint Stock Company, URC Vietnam Co., Ltd., Tan Hiep Phat Beverage Group (THP). The key manufacturers are embracing improvement for gaining position in the market.

Based on type, Vietnam beverages industry is segmented into alcoholic beverages and non-alcoholic beverages. Alcoholic beverages include wine, beer and spirits. Non-alcoholic beverages include non-carbonated beverages (nectars, fruit juices, coffee, tea, fruit drinks), carbonated soft drink (coca cola, soda and tonic water) and others (energy drinks, functional beverages, nectars, squashes, cordials, syrups, hot drinks, and value added water). Non-alcoholic beverages segment dominates the market owing to rise in awareness about health benefits of natural or organic beverages among individuals. Based on packaging type, market is segmented into cartons, bottles, cans and others. Based on distribution channel, market is segmented into online channel, offline channel, departmental stores, supermarkets, specialty stores and others (retailers, ready to drink beverages, general merchandisers, relaxation drinks, and drinking places). Supermarkets segment is anticipated to witness higher growth rate due to wide availability of non-alcoholic beverages during the forecast period. Based on end-use, market is segmented into adults, teenagers, geriatric population and kids. In addition, based in end-user, market is segmented into commercial and household.

The Vietnam beverages industry is driven by rise in consumption of drinks in major cities, followed by change in preferences of consumers towards ready to drink beverages, rapid urbanization, rise in awareness of low-calorie beverages, increase in consumer preferences regarding premium products, rise in government initiative for development of production & distribution facilities in countries and growth in disposable income. However, increase in health consciousness regarding the consumption of both alcoholic and non-alcoholic beverages may impact the market. Moreover, launch of new products in the non-alcoholic segment for instance with drinks healthier content and zero sugar is a big opportunity for market. Furthermore, expansion of distribution channels is a major challenge market.

In upcoming years, it is predicted that future of the Vietnam beverages industry will be optimistic on account of rise in demand for flavored beverages in food & beverage industries, strong presence of food and beverage manufactures and increase in availability of well–developed manufacturing industries during the forecast period.

For More Information, Click on the Link Below:

Vietnam Beverages Industry

Related Report:-

Vietnam Beverages Standard Report Q4/2019

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Ken Research

Ankur Gupta, Head Marketing & Communications

Ankur@kenresearch.com

+91 9015378249

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