Wine and wine products market in Vietnam

Earlier Report Observations

In 2018, Vietnam's wine market reached 22 391 t, supported by a reduction in import tariffs under WTO commitments and free trade agreements, which facilitated imports and diversified supply. Over 15 domestic producers, such as Thang Long Wine and Lam Dong Wine, were scaling up bottling operations and increasing their share of the local market. However, market volume fell sharply to 13 006 t in 2019, largely due to a surge in exports. The COVID-19 pandemic disrupted global supply chains in 2020, and sustained high import duties made foreign wines more expensive, contributing to a further decline in imports and a market volume of 12 858 t.

Market volume began to recover in 2021, rising to 13 288 t as Vietnamese consumers showed growing preference for high-quality imported wines from France, Italy, Chile, and the United States. A major expansion occurred in 2022, with volume jumping to 20 936 t after the EU-Vietnam Free Trade Agreement (EVFTA) eased access for European wines, stimulating competition and product diversity. Wine became a popular choice among businesspeople and middle-to-high-income consumers. In 2023, the market contracted to 14 476 t, while domestic wineries like Thang Long and Lam Dong continued to strengthen their market position by capitalizing on importers' logistical challenges, and a trend toward non-alcoholic and low-alcohol wines gained momentum.

Production wine and wine products in Vietnam

In kind, 2017-2020, t

Top producers of wine and wine products, 2017-2020

World map of production of wine and wine products, 2017-2020

The data shows irregular changes, indicating a volatile market environment. Production volumes varied significantly, with a 2-fold difference between the low in 2017 and the high in 2018. In 2020, Vietnam produced 9 254 tons of wine and wine products, which represents a 25.8% decrease from the previous year. The peak production was recorded in 2018 at 14 085 tons, marking the largest increase of 100.0%.

Annual dynamics of production in Vietnam in kind, 2017-2020, t

Exports wine and wine products from Vietnam

Exports in kind, t

The data reveals irregular changes, pointing to a volatile market environment. Exports reached their lowest point in 2020 after hitting their maximum in 2017, with a 2.5-fold swing between these years. In 2020, Vietnam exported 7 481 tons of wine and wine products, corresponding to a steep decline of 57.9% compared to the prior year. The largest increase was recorded in 2019 at 87.6%.

Annual dynamics of product's exports from Vietnam in kind, 2017-2020, t

From 2017 to 2020, Japan, Thailand, and France formed the main cluster of markets for exports in kind, accounting for 53.1%, 25.1%, and 9.3% of exports, respectively. Together, they represented 87.5% of total export flows.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Vietnam in kind, 2017-2020

Exports in value, K $ US

Vietnam's wine and wine products exports declined for the third consecutive year. In 2020, exports reached 26 922 thousand US dollars, showing a steep decrease of 51.6% year-over-year. Over the period from 2017 to 2020, exports decreased by 55.3%, with a compound annual growth rate of 23.5%.

Annual dynamics of product's exports from Vietnam in value, 2017-2020, K $ US

From 2017 to 2020, China, Japan, and Thailand formed the main cluster of markets for exports in value terms, with shares of 44.5%, 27.3%, and 15.4% of exports, respectively. Their combined contribution accounted for 87.2% of total export flows.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Vietnam in value, 2017-2020

Imports wine and wine products to Vietnam

Imports in kind, t

Vietnam imported a total of 11 086 tons of wine and wine products in 2020, indicating a decrease of 39.5% compared to the previous year. Between 2017 and 2020, imports decreased by 44.8%, equating to an annualized rate of 18.0%. The largest increase was recorded in 2019 at 3.0%.

Annual dynamics of product's imports to Vietnam in kind, 2017-2020, t

From 2017 to 2020, France, Chile, and Italy were the largest suppliers of wine and wine products to Vietnam in kind, with shares of 17.2%, 15.5%, and 10.8% of imports, respectively. However, their combined contribution was limited to 43.5% of total imports, reflecting a diversified country structure.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Vietnam in kind, 2017-2020

Imports in value, K $ US

Vietnam's volume of wine and wine products imports declined for the third consecutive year. In 2020, a total of value_last_year thousand US dollars of wine and wine products was imported, showing a sharp contraction of 32.4% compared to the previous year. Over the period from 2017 to 2020, imports decreased by 41.4%, with a compound annual growth rate of 16.3%.

Annual dynamics of product's imports to Vietnam in value, 2017-2020, K $ US

From 2017 to 2020, France, the United Kingdom, and Chile formed the main cluster of markets for imports in value terms, accounting for 32.0%, 16.9%, and 10.2% of imports, respectively. Together, they represented 59.2% of total import flows.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Vietnam in value, 2017-2020