Vietnam Wine Market Overview
Base Year: 2024
Historical Years: 2019-2024
Forecast Years: 2025-2033
Market Size in 2024:USD 2.0 Billion
Market Forecast in 2033: USD 2.8 Billion
Market Growth Rate (2025-33): 3.73%
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.
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Vietnam Wine Market Trends and Drivers:
The Vietnamese wine market is undergoing a significant transformation as it shifts towards premiumization, which is changing how people consume wine. This trend is driven by a growing middle and upper class with more disposable income, who are looking for more than just drinks—they want symbols of status, sophistication, and unique experiences. Consumers are moving away from budget brands and opting for mid-range and super-premium wines, with a particular preference for well-known Old World regions like Bordeaux, Burgundy, and Champagne, as well as high-quality New World wines from Australia, Chile, and the US. Upscale restaurants, luxury retail spaces, and specialized wine shops are playing a crucial role in this shift, catering to the tastes of discerning customers. Additionally, as wine education rises, along with the influence of sommeliers and exposure through travel and social media, consumers are eager to explore different regions and styles, seeking authenticity and a story behind their wine. Industry reports show that premium imports are consistently growing faster than volume, highlighting a lucrative and expanding market where quality, brand heritage, and storytelling are becoming more important than price for many consumers.
Vietnam's budding domestic wine scene is evolving beyond just simple fruit wines, creating an interesting dynamic in the larger market. By tapping into regions like Dalat in Lam Dong province, which boasts ideal microclimates, winemakers are increasingly turning their attention to cultivating Vitis vinifera and hybrid grapes, all in pursuit of crafting higher-quality table wines. Although they still grapple with challenges like tropical viticulture, limited production scales, and consumer perceptions, local wineries are pouring resources into better techniques, bringing in international expertise, and embracing modern technology. Their approach often targets the entry-level and mid-tier markets with competitive pricing, highlighting the appeal of "locally grown" products and the novelty factor for domestic tourists and curious locals. Key players are also experimenting with grape varieties that thrive in the climate, such as Syrah and Cardinal grapes. While it may take time for domestic wines to rival imports, this local production is adding diversity to the market, tapping into patriotic feelings, and benefiting from government support aimed at agricultural diversification, slowly building recognition and carving out a unique niche.
The wine market in Vietnam is going through a fascinating and intricate transformation, shifting away from its traditional stronghold in places like hotels, bars, and restaurants. Nowadays, modern trade channels are on the rise, with international supermarket chains like AEON, Lotte Mart, and VinMart, along with specialized wine retailers, quickly expanding their reach. This growth is all about offering a broader selection and greater convenience, especially in urban areas. E-commerce is also booming, fueled by habits formed during the pandemic and better logistics. Major platforms such as Shopee, Lazada, and Tiki, along with dedicated online wine shops, are making it easier than ever to access a wide range of products, competitive prices, home delivery, and even educational resources, which is opening up the market to younger consumers beyond just the big cities. That said, the traditional trade—think wine shops and independent retailers—still plays a crucial role, particularly when it comes to premium selections and personalized service. This evolving landscape calls for smart omnichannel strategies from importers and producers, who need to find the right balance between reaching a broad audience through modern and online channels while also providing the high-touch, experiential service that luxury wines demand in specialized boutiques and upscale venues. Plus, the different regulations across these channels add another layer of complexity to the mix.
Vietnam Wine Market Industry Segmentation:
Product Type Insights:
- Still Wine
- Sparkling Wine
- Fortified Wine and Vermouth
Color Insights:
- Red Wine
- Rose Wine
- White Wine
Distribution Channel Insights:
- Off-Trade
- Supermarkets and Hypermarkets
- Specialty Stores
- Online Stores
- Others
- On-Trade
Regional Insights:
- Northern Vietnam
- Central Vietnam
- Southern Vietnam
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
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Key highlights of the Report:
- Market Performance (2019-2024)
- Market Outlook (2025-2033)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Strategic Recommendations
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
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