Vietnam Grape Wine Market (2024-2030) | Companies, Value, Industry, Size, Outlook, Share, Forecast, Analysis, Trends, Growth & Revenue

Market Forecast By Type (Red Wine, White Wine, Rose Wine, Other), By Applications (Commercial Consumption, Household Consumption, Other) And Competitive Landscape
Product Code: ETC038231 Publication Date: Aug 2023 Updated Date: Jan 2024 Product Type: Report
Publisher: 6Wresearch No. of Pages: 70 No. of Figures: 35 No. of Tables: 5

Vietnam Grape Wine Market Synopsis

The Vietnam grape wine market has been witnessing robust growth, driven by changing consumer lifestyles, increasing disposable incomes, and a growing appreciation for wine culture. As the country experiences a rise in urbanization and international exposure, there is a growing demand for premium and imported wines. The domestic wine industry is also evolving, with local wineries producing high-quality wines that cater to the preferences of Vietnamese consumers. The market`s potential is further enhanced by the burgeoning wine tourism industry, as vineyard visits and wine tastings gain popularity among locals and tourists alike.

Drivers of the Market

The Vietnam grape wine market is witnessing strong growth due to several drivers. One of the key drivers is the changing consumer preferences and lifestyle. As Vietnam experiences economic growth and urbanization, there is a shift in consumer habits towards Westernization and an increasing interest in wine culture. The younger population, in particular, is adopting wine consumption as a social and leisure activity, driving the demand for grape wines. Moreover, the rising disposable income of the Vietnamese population has enabled them to afford premium and imported wines, especially from renowned wine-producing countries. The growing wine tourism industry has also played a role in popularizing grape wines, as vineyard visits and wine tastings become popular among locals and tourists alike. The government`s efforts to promote the country`s wine industry and reduce import taxes on wine have further supported the market`s growth, encouraging domestic production and consumption of grape wines.

Challenges of the Market

The Vietnam grape wine market faces challenges related to import regulations and taxes. Imported wines often face high import duties and taxes, making them relatively expensive compared to locally produced wines. These higher costs can deter some consumers from purchasing imported grape wines, impacting the market`s growth. Furthermore, there is a need for more education and awareness about grape wines among Vietnamese consumers, as the majority of the population has a traditional preference for rice wine and spirits. Manufacturers and retailers in the grape wine market need to conduct marketing campaigns and initiatives to educate consumers about the diverse flavors and characteristics of grape wines to increase their acceptance and popularity.

COVID-19 Impact on the Market

The Vietnam Grape Wine market experienced contrasting trends during the COVID-19 pandemic. On one hand, the closure of restaurants, bars, and hotels severely impacted the hospitality sector, leading to reduced sales and consumption of premium wines. On the other hand, the lockdowns prompted an increase in at-home consumption, leading to a surge in online sales and retail purchases of lower-priced wines. Domestic wineries faced challenges in distribution, while imported wines encountered logistics difficulties due to border restrictions. Despite the short-term setbacks, key players in the grape wine market adapted by offering attractive online promotions, home delivery services, and virtual wine tasting experiences to engage consumers. As the hospitality sector gradually reopened, the market showed signs of recovery, with a growing preference for quality, locally-produced wines.

Key Highlights of the Report:

  • Vietnam Grape Wine Market Outlook
  • Market Size of Vietnam Grape Wine Market, 2023
  • Forecast of Vietnam Grape Wine Market, 2030
  • Historical Data and Forecast of Vietnam Grape Wine Revenues & Volume for the Period 2020-2030
  • Vietnam Grape Wine Market Trend Evolution
  • Vietnam Grape Wine Market Drivers and Challenges
  • Vietnam Grape Wine Price Trends
  • Vietnam Grape Wine Porter's Five Forces
  • Vietnam Grape Wine Industry Life Cycle
  • Historical Data and Forecast of Vietnam Grape Wine Market Revenues & Volume By Type for the Period 2020-2030
  • Historical Data and Forecast of Vietnam Grape Wine Market Revenues & Volume By Red Wine for the Period 2020-2030
  • Historical Data and Forecast of Vietnam Grape Wine Market Revenues & Volume By White Wine for the Period 2020-2030
  • Historical Data and Forecast of Vietnam Grape Wine Market Revenues & Volume By Rose Wine for the Period 2020-2030
  • Historical Data and Forecast of Vietnam Grape Wine Market Revenues & Volume By Other for the Period 2020-2030
  • Historical Data and Forecast of Vietnam Grape Wine Market Revenues & Volume By Applications for the Period 2020-2030
  • Historical Data and Forecast of Vietnam Grape Wine Market Revenues & Volume By Commercial Consumption for the Period 2020-2030
  • Historical Data and Forecast of Vietnam Grape Wine Market Revenues & Volume By Household Consumption for the Period 2020-2030
  • Historical Data and Forecast of Vietnam Grape Wine Market Revenues & Volume By Other for the Period 2020-2030
  • Vietnam Grape Wine Import Export Trade Statistics
  • Market Opportunity Assessment By Type
  • Market Opportunity Assessment By Applications
  • Vietnam Grape Wine Top Companies Market Share
  • Vietnam Grape Wine Competitive Benchmarking By Technical and Operational Parameters
  • Vietnam Grape Wine Company Profiles
  • Vietnam Grape Wine Key Strategic Recommendations
Frequently Asked Questions About the Market Study (FAQs):
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1 Executive Summary

2 Introduction

2.1 Key Highlights of the Report

2.2 Report Description

2.3 Market Scope & Segmentation

2.4 Research Methodology

2.5 Assumptions

3 Vietnam Grape Wine Market Overview

3.1 Vietnam Country Macro Economic Indicators

3.2 Vietnam Grape Wine Market Revenues & Volume, 2020 & 2030F

3.3 Vietnam Grape Wine Market - Industry Life Cycle

3.4 Vietnam Grape Wine Market - Porter's Five Forces

3.5 Vietnam Grape Wine Market Revenues & Volume Share, By Type, 2020 & 2030F

3.6 Vietnam Grape Wine Market Revenues & Volume Share, By Applications, 2020 & 2030F

4 Vietnam Grape Wine Market Dynamics

4.1 Impact Analysis

4.2 Market Drivers

4.3 Market Restraints

5 Vietnam Grape Wine Market Trends

6 Vietnam Grape Wine Market, By Types

6.1 Vietnam Grape Wine Market, By Type

6.1.1 Overview and Analysis

6.1.2 Vietnam Grape Wine Market Revenues & Volume, By Type, 2020-2030F

6.1.3 Vietnam Grape Wine Market Revenues & Volume, By Red Wine, 2020-2030F

6.1.4 Vietnam Grape Wine Market Revenues & Volume, By White Wine, 2020-2030F

6.1.5 Vietnam Grape Wine Market Revenues & Volume, By Rose Wine, 2020-2030F

6.1.6 Vietnam Grape Wine Market Revenues & Volume, By Other, 2020-2030F

6.2 Vietnam Grape Wine Market, By Applications

6.2.1 Overview and Analysis

6.2.2 Vietnam Grape Wine Market Revenues & Volume, By Commercial Consumption, 2020-2030F

6.2.3 Vietnam Grape Wine Market Revenues & Volume, By Household Consumption, 2020-2030F

6.2.4 Vietnam Grape Wine Market Revenues & Volume, By Other, 2020-2030F

7 Vietnam Grape Wine Market Import-Export Trade Statistics

7.1 Vietnam Grape Wine Market Export to Major Countries

7.2 Vietnam Grape Wine Market Imports from Major Countries

8 Vietnam Grape Wine Market Key Performance Indicators

9 Vietnam Grape Wine Market - Opportunity Assessment

9.1 Vietnam Grape Wine Market Opportunity Assessment, By Type, 2020 & 2030F

9.2 Vietnam Grape Wine Market Opportunity Assessment, By Applications, 2020 & 2030F

10 Vietnam Grape Wine Market - Competitive Landscape

10.1 Vietnam Grape Wine Market Revenue Share, By Companies, 2023

10.2 Vietnam Grape Wine Market Competitive Benchmarking, By Operating and Technical Parameters

11 Company Profiles

12 Recommendations

13 Disclaimer

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