Vietnam offers an attractive demographics profile for wine producers.
In 2020, approximately 72.8% (70.9 million people) of the Vietnamese population are aged over 18 (the legal drinking age in Vietnam). The 20-64 age group can be broken down into two sub groups, which each offer an important, albeit different, opportunity for wine majors.
With a population of approximately 97.0 million, Vietnam’s total wine consumption is relatively high, with the country offering the third largest wine market in the Association of Southeast Asian Nations (ASEAN) region, at 15.3 million liters in 2020. Only Thailand (103.3 million liters) and Malaysia (26.7 million liters) offer a larger market.
With the above-mentioned growth drivers and with demand stemming from a relatively low base Fitch Solutions forecast Vietnam’s wine consumption to grow by an average of 7.4% a year, one of the fastest in the region.
By 2024, the consumption level of wine in Vietnam is projected to reach 22.3 million liters, with per capita consumption of wine forecast to expand to 0.3 liters per adult.
Red wine dominates the wine market in Vietnam, accounting for approximately 76% of total wine consumed in 2020. Proportionally, Fitch Solutions foresees this remaining relatively constant over our medium-term forecast period. White wine accounts for a further 18% of total wine consumption, followed by sparkling wines (2.3%) and fortified wines (2.9%).
YOUR WINE DISPLAY STAND
The basic stand at the EXPO comes with a complimentary 32" TV, to play your pre-recorded videos promoting your wine and winery.
We therefore encourage Wine Producers to initially only send across to Vietnam a range of empty display bottles of your wine to be displayed on your stand.
After we have identified a suitable importer or distributor you are happy with, you can then decide which wines you wish to send across for them to sample.
This substantially cuts establishment costs for wine producers, as sending across small quantities of wine such as 4 dozen is costly, where as sending empty bottles initially will dramatically lessen your freight costs and there will be no wine tariffs or duties to be paid for on arrival.
With well presented empty bottles on your stand, where they will be able to watch videos of your wines and winery, is we find more than enough for potential importers to decide whether or not representing your winery in Vietnam is commercially advantageous for them.
It must be remembered that different distributors, specialize in different styles and price point wines. Hence negotiating with the importer before committing to sending certain wines to Vietnam can save a lot of time, headaches and misunderstandings.
Even though you will only pay for one month's rental of the stand and TV, we will maintain your stand at the Display Center, until we find a suitable importer, which you are happy with for your wines in Vietnam.