Vietnam Wine Market

Market Overview:

Vietnam wine market size reached USD 2.0 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 2.8 Billion by 2033, exhibiting a growth rate (CAGR) of 3.73% during 2025-2033. The expanding middle class population and inflating disposable income levels of individuals, increasing reliance on e-commerce platforms, and the rising number of importers, distributors, and wine retailers represent some of the key factors driving the market.

Wine is a premium alcoholic beverage derived from the fermentation of crushed grapes or other fruits. It is characterized by its diverse range of flavors, aromas, and colors, influenced by various factors, including grape variety, fermentation process, and aging conditions. It holds cultural and ceremonial significance in various traditions and religious rituals, often symbolizing communion, blessings, or transitionary moments. It can exhibit a wide spectrum of flavors, including fruity, floral, earthy, and spicy. It enhances the dining experience, pairing well with a variety of cuisines. It complements flavors and can elevate the overall taste of a meal. It offers numerous health benefits due to the presence of antioxidants like resveratrol. It is widely used in preparing sauces, marinades, and reductions to add depth and flavor to dishes. It offers a wide range of choices, ranging from light and refreshing white wines to bold and robust red wines, making it suitable for various occasions and preferences.

Vietnam Wine Market Trends:

Surge in Imported Wines Driving Market Expansion

Vietnam's wine sector has seen a significant rise in foreign wines, prompted by increased demand for international varieties. Domestic consumers are increasingly seeking wines from well-known sources like France, Italy, and Australia. Demand is being driven by Vietnam's growing middle class, whose rising disposable income gives foreign wines greater accessibility. As international wine culture continues to influence Vietnamese palates, the wine market in Vietnam is poised to expand further, reflecting a desire for luxury options and a growing demand for variety in wine choices.

Wine Culture Development

Vietnam's wine culture is quickly transforming as more and more customers are becoming aware of the nuances of wine, including varietals, origins, and pairings. Wine tasting occasions, learning programs, and upscale dining are turning wine drinking into a lifestyle interest. In addition, wine tourism is on the rise, providing opportunities for locals as well as international tourists to explore wine regions. As individuals move around and taste wines from everywhere in the world, they become more sophisticated and demand better-quality, refined wines in Vietnam.

Innovative Offerings by Imported Wine Brands

Imported wine firms are increasing their product innovation to meet the demands of Vietnamese customers. Low-sugar, organic, and ecological wines are becoming increasingly popular as health-conscious consumers seek out alternative options. Furthermore, packaging innovations and distinctive mixes help businesses stand out. As customers seek more unique experiences, the demand for premium wine is increasing, with overseas companies leading the way in providing high-end and diversified wine options that cater to sophisticated palates.

E-Commerce's Role in Wine Market Growth

E-commerce has transformed Vietnam's wine sector, providing consumers with a more comfortable buying experience. Wine aficionados may now enjoy a wide variety of wines, from global imports to local favorites, all at their fingertips, owing to digital platforms. The expansion of online wine merchants, along with digital marketing methods, has increased sales and made wine more accessible than before. This increase in online purchases continues to influence wine consumption patterns, particularly among younger, tech-savvy generations who prefer the convenience of shopping from home.

Focus on Sophistication and Quality in Wine Choices

As Vietnam's wine business evolves, customers increasingly value complexity and quality. With a growing middle class, more consumers are prepared to invest in excellent wines that deliver distinct tastes and a premium experience. Whether it's wine from recognized areas or limited-edition mixes, the desire for well-crafted wines is strong. This transition may be seen in the growing interest in premium wine, as individuals seek to appreciate the finest that the wine industry has to offer rather than mass-market alternatives.

Vietnam Wine Market Growth Factors:

Growing Middle Class Boosting Wine Consumption

Vietnam’s growing middle class is fueling a shift towards more sophisticated alcoholic beverage choices. With increased disposable income, consumers are trading traditional alcoholic drinks for wine, which is often seen as a symbol of refinement and social status. As the economy grows and more people can afford imported and local wines, this expanding demographic will continue to drive wine consumption, making wine a more common choice in Vietnamese households and social gatherings.

Western Cultural Influence Shaping Wine Preferences

As Western culture increasingly influences urban Vietnamese, wine is becoming a symbol of modernity and sophistication. In cities like Ho Chi Minh City and Hanoi, international restaurants, wine bars, and food festivals are helping consumers learn more about wine and how to enjoy it. The influence of wine tourism has also played a role, encouraging local wine drinkers to explore wines from the West and embrace diverse wine cultures. This cultural shift is fostering a deeper appreciation for both international and domestic wines.

Rise of Digital Marketing in Wine Sales

The growth of digital marketing is reshaping the way Vietnamese consumers discover and purchase wine. Brands are leveraging social media and influencers to target younger audiences who are more active online. These efforts are increasing the visibility of both imported and local wines, helping brands connect directly with their target customers. As digital marketing continues to evolve, it will play an even greater role in promoting the wine market in Vietnam, enhancing engagement and awareness.

Wine Tourism Being a New Path for Wine Lovers

Wine tourism is gaining momentum in Vietnam as a growing number of local and international visitors explore the country’s emerging wine regions. This trend is offering travelers unique experiences, from vineyard tours to wine tastings, and it’s helping cultivate a deeper appreciation for wine among both tourists and locals. Vietnamese wineries are capitalizing on this trend by offering hands-on experiences that educate and introduce visitors to the region’s wine offerings, helping to promote the local wine culture and grow the market.

Urbanization Increasing Demand for Wine

Urbanization is a crucial element driving up wine demand in Vietnam, particularly in fast-growing areas such as Hanoi and Ho Chi Minh City. As more people relocate to cities and earn better money, the demand for premium items, such as wine, grows. Exposure to worldwide wine trends via media, tourism, and local wine bars has also increased interest in wine. Urban regions are leading the way in wine consumption, with young, affluent city people increasingly choosing wine over traditional drinks.

Imported Wines Filling Market Gaps in Variety

The Vietnamese market is benefiting from an expanding selection of imported wines that provide variety and diversity, addressing deficiencies in the local wine business. This rush of imported choices enables customers to discover wines from recognized worldwide locations, making both entry-level and exclusive varietals more accessible. The surge in imported wines also pushes local producers to improve their offerings, resulting in an increase in Vietnam winery goods that can compete with worldwide names in terms of quality and diversity.

Vietnam Wine Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for 2025-2033. Our report has categorized the market based on product type, color, and distribution channel.

Product Type Insights:

• Still Wine
• Sparkling Wine
• Fortified Wine and Vermouth

The report has provided a detailed breakup and analysis of the market based on the product type. This includes still wine, sparkling wine, and fortified wine and vermouth.

Color Insights:

• Red Wine
• Rose Wine
• White Wine

A detailed breakup and analysis of the market based on the color have also been provided in the report. This includes red wine, rose wine, and white wine.

Distribution Channel Insights:

• Off-Trade 
  • Supermarkets and Hypermarkets
  • Specialty Stores
  • Online Stores
  • Others
• On-Trade

The report has provided a detailed breakup and analysis of the market based on the distribution channel. This includes off-trade (supermarkets and hypermarkets, specialty stores, online stores, others) and on-trade.

Regional Insights:

• Northern Vietnam
• Central Vietnam
• Southern Vietnam

The report has also provided a comprehensive analysis of all the major regional markets, which include Northern Vietnam, Central Vietnam, and Southern Vietnam.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape in the market. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

Vietnam Wine Market News:

• In November 2024, Enoteca, Asia's premier wine importer, opened its first store in Ho Chi Minh City, Vietnam, marking its debut in the Vietnamese market. The 87-square-meter shop is located in the Takashimaya department store in Saigon Centre and serves 340 wines. The store also has a lounge, a counter bar, and seats for events such as tastings and seminars, with a focus on wholesale distribution to hotels and restaurants.
• In December 2024, as part of the 10th Da Lat Flower Festival, a new program featuring Da Lat and Lam Dong's wine, tea, coffee, and specialty items debuted on Ho Tung Mau Street in Da Lat. The festival featured the region's agricultural products, including OCOP-certified items, and is expected to attract over 2 million people. It provides a forum for local entrepreneurs to market their distinctive items, broadening the festival's appeal.

Vietnam Wine Market Report Coverage:

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the Vietnam wine market from 2019-2033.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the Vietnam wine market.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the Vietnam wine industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.