Spirits in Vietnam

Euromonitor International
June 2023
SPIRITS IN VIETNAM Passport i

LIST OF CONTENTS AND TABLES

KEY DATA FINDINGS.................................................................................................................. 1
2022 DEVELOPMENTS ............................................................................................................... 1
Spirits record buoyant growth in both off-trade and on-trade channels..................................... 1
Key players focus on pushing sales during special events ....................................................... 1
Soju continues to benefit from influence of Korean culture ....................................................... 1
PROSPECTS AND OPPORTUNITIES......................................................................................... 2
Positive outlook for spirits ......................................................................................................... 2
Local white spirit will see stronger competition from soju ......................................................... 2
Competitive landscape likely to remain fragmented due to A lack of marketing opportunities .. 2
CATEGORY BACKGROUND ....................................................................................................... 2
Vodka, gin, other blended Scotch whisky, dark rum and white rum price band methodology ... 3
Summary 1 Benchmark Brands 2022 .............................................................................. 3
CATEGORY DATA ....................................................................................................................... 3
Table 1 Sales of Spirits by Category: Total Volume 2017-2022 ................................ 3
Table 2 Sales of Spirits by Category: Total Value 2017-2022 ................................... 4
Table 3 Sales of Spirits by Category: % Total Volume Growth 2017-2022 ............... 4
Table 4 Sales of Spirits by Category: % Total Value Growth 2017-2022 .................. 5
Table 5 Sales of Spirits by Off-trade vs On-trade: Volume 2017-2022...................... 6
Table 6 Sales of Spirits by Off-trade vs On-trade: Value 2017-2022......................... 6
Table 7 Sales of Spirits by Off-trade vs On-trade: % Volume Growth 2017-
2022 ............................................................................................................. 6
Table 8 Sales of Spirits by Off-trade vs On-trade: % Value Growth 2017-2022 ........ 6
Table 9 Sales of Dark Rum by Price Platform: % Total Volume 2017-2022 .............. 6
Table 10 Sales of White Rum by Price Platform: % Total Volume 2017-2022 ............ 7
Table 11 Sales of Other Blended Scotch Whisky by Price Platform: % Total
Volume 2017-2022 ....................................................................................... 7
Table 12 Sales of English Gin by Price Platform: % Total Volume 2017-2022 ........... 7
Table 13 Sales of Vodka by Price Platform: % Total Volume 2017-2022 .................... 7
Table 14 Sales of Vodka by Flavoured vs Non-flavoured: % Total Volume
2017-2022 .................................................................................................... 8
Table 15 GBO Company Shares of Spirits: % Total Volume 2018-2022 .................... 8
Table 16 NBO Company Shares of Spirits: % Total Volume 2018-2022..................... 8
Table 17 LBN Brand Shares of Spirits: % Total Volume 2019-2022 ........................... 9
Table 18 Forecast Sales of Spirits by Category: Total Volume 2022-2027 ............... 10
Table 19 Forecast Sales of Spirits by Category: Total Value 2022-2027 .................. 10
Table 20 Forecast Sales of Spirits by Category: % Total Volume Growth 2022-
2027 ........................................................................................................... 11
Table 21 Forecast Sales of Spirits by Category: % Total Value Growth 2022-
2027 ........................................................................................................... 12

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SPIRITS IN VIETNAM
KEY DATA FINDINGS
▪ Total volume sales increase by 20% in 2022 to 46 million litres
▪ White spirits is the best performing category in 2022, with total volume sales increasing by
33% to 787,000 litres
▪ Hite Jinro Vietnam Co Ltd is the leading player in 2022, with a total volume share of 6%
▪ Total volume sales are set to increase at a CAGR of 11% over the forecast period to 78
million litres

2022 DEVELOPMENTS

Spirits record buoyant growth in both off-trade and on-trade channels

Spirits recorded buoyant volume growth in both the off-trade and on-trade channels in
Vietnam in 2022, in keeping with the positive recovery of the domestic economy. With a stronger
sense of optimism, local consumers were more willing to spend money on non-essential
products, including spirits. The Vietnamese government also lifted all social distancing
restrictions, which meant that consumers could gather for drinks at restaurants, bars and clubs,
which boosted spirits consumption in on-trade channels. Another factor behind the increase in
on-trade sales of spirits in 2022 was the return of international tourists, with inbound arrivals
being a key source of sales.
This was in contrast to 2021 when the government-enforced closure of bars, restaurants and
other venues took a heavy toll on on-trade sales. In addition, the introduction of the stricter drink
driving laws, which banned drivers from consuming any alcohol, continued to have a negative
impact on demand. With fewer opportunities to go out and with the designated driver unable to
drink, sales of spirits plummeted, having already suffered heavy losses in 2020.

Key players focus on pushing sales during special events

While on-trade outlets reopened for business in 2022, a growing number of Vietnamese
consumers continued to enjoy drinking spirits at home, with the result that off-trade volume
sales continued to see buoyant growth. During 2020 and especially 2021, there was a
significant shift from the on-trade channel to the off-trade channel as some mid- and high-
income consumers turned to drinking spirits at home to escape the boredom and anxiety
created by the pandemic. This trend continued in 2022, with Vietnamese consumers also being
increasingly willing to purchase spirits during special occasions, such as Lunar New Year (Tet).
Key sporting events, such as the Southeast Asian (SEA) Games and the FIFA World Cup also
contributed to the continued buoyancy of off- trade spirit volumes, as consumers gathered with
family and friends to watch the action. As a result, players focused on pushing sales during such
special occasions and events. with Diageo, for example, introducing ng special packaging for
Red Johnnie Walker to coincide with the Tet holidays.

Soju continues to benefit from influence of Korean culture

Soju, a clear and colourless alcoholic beverage originating from South Korea, continued to
gain popularity among young adults in 2022, thanks to the strong influence of Korean pop
culture in the country. Soju is also promoted through Korean-style covered street bars, called

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“pojangmacha”, which are well established in the city of Hanoi. Compared to other spirits, such
as whiskies, soju is much cheaper, which makes it attractive to millennials and Gen Zs. Soju is
also regarded as having better taste and quality than local white spirits, which was the largest
category in terms of volume sales. However, the latter still enjoyed buoyant volume growth in
2022, as these products are traditionally consumed by many lower-income Vietnamese
consumers on a daily basis after work.

PROSPECTS AND OPPORTUNITIES

Positive outlook for spirits

Spirits is expected to see a gradual recovery over the forecast period, with volume sales
exceeding pre-pandemic levels by 2025. Growth will supported by an increase in consumer
confidence, thanks to the optimistic outlook for the country’s economy. Additionally, the lifting of
restrictions on bars, clubs and karaoke clubs, coupled with the reopening of the country’s
borders to inbound tourism should all help fuel sales of spirits. Tourists from European and
North American countries, in particular, have a strong spirit drinking culture and not only
purchase such items for their own consumption, but also as gifts for friends and family
members. Spirits will also benefit from the young median age of the population, with the
consumption of alcoholic drinks being higher amongst this age group.
However, despite these positives, stronger growth for spirits will be curtailed by strict drink
driving laws, which will restrain consumption through on-trade channels such as restaurants or
bar/clubs. With more severe penalties in place, more people will avoid consuming spirits when
they drive. However, on-trade sales will continue to register positive growth, as they continue to
recover from the steep decline experienced during the COVID-19 years of 2020-2021.

Local white spirit will see stronger competition from soju

Local white spirit is expected to see more competition from other products particularly beer
and soju. In terms of beer, players will be active in marketing and advertising their products
during key special occasions, such as the Lunar New Year (Tet holiday). Moreover, a growing
number of young adults are turning to soju instead of beer due to the rising influence of Korean
pop culture in Vietnam. Soju witnessed dynamic growth during the pandemic and is expected to
continue on this upward trajectory during the forecast period, supported by the proliferation of
Korean-style street bars (pojangmacha) in cities such as Hanoi. Both beer and soju are
perceived to have less harmful effect on the body compared to local white spirit, as well as
having higher quality standards..

Competitive landscape likely to remain fragmented due to A lack of

marketing opportunities
Spirits is expected to remain fragmented, due to the presence of a large number of imported
brands. Apart from local white spirits, other spirits products are not traditionally produced by
local players. Therefore, there are a large number of imported brands of spirits present in
Vietnam, most of which only hold a minor share. As the marketing of spirits is prohibited in the
country, international players tend to work with consumer foodservice operators, especially bars
and pubs, offering benefits and attractive commissions to stimulate sales.

CATEGORY BACKGROUND

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Vodka, gin, other blended Scotch whisky, dark rum and white rum price
band methodology
Classification for these spirits products is based purely on pricing, taking a typical brand,
usually the leading brand by volume, as the benchmark price, which is indexed as 100%. The
benchmark brand will be a mid-priced brand.

Summary 1 Benchmark Brands 2022

Category Brand name Positioning

Vodka Smirnoff Red Standard

Gin Beefeater Standard

Other blended Scotch whisky Johnnie Walker Red Label Standard

Dark rum Captain Morgan Black Label Standard

White rum Bacardi Standard

Source: Euromonitor International from trade interviews, store checks

CATEGORY DATA
Table 1 Sales of Spirits by Category: Total Volume 2017-2022

'000 litres
2017 2018 2019 2020 2021 2022

- Shochu/Soju 2,545.6 3,581.9 3,331.3 3,250.4 4,215.7 5,535.1

- Local White Spirits 47,499.9 48,416.3 49,253.5 36,466.4 30,351.8 36,060.6
Other Spirits 50,045.5 51,998.2 52,584.9 39,716.8 34,567.5 41,595.7
- Vodka 1,083.2 1,112.6 1,139.3 738.9 473.4 638.4
- Gin 317.5 292.7 271.4 178.3 116.5 148.9
White Spirits 1,400.7 1,405.2 1,410.7 917.3 589.9 787.2
- Other Whiskies 13.0 13.3 13.5 9.5 4.7 6.1
- Single Malt Scotch 239.2 244.5 250.5 188.2 154.3 196.0
Whisky
- Single Grain Scotch - - - - - -
Whisky
- Blended Scotch Whisky 2,571.0 2,409.4 2,277.1 1,450.2 1,230.1 1,411.6
- Japanese Whisky 115.3 128.9 142.3 118.0 105.1 111.0
- Irish Whiskey - - - - - -
- Canadian Whisky - - - - - -
- Bourbon/Other US 68.7 71.3 73.8 44.8 30.1 44.9
Whiskey
Whiskies 3,007.2 2,867.4 2,757.2 1,810.5 1,524.3 1,769.7
Tequila (and Mezcal) 133.4 148.6 176.0 141.2 122.1 146.0
- White Rum 744.4 781.9 820.5 543.0 417.4 449.8
- Dark Rum 94.0 91.7 89.6 58.8 33.3 37.2
Rum 838.3 873.6 910.1 601.9 450.8 487.1
Non Alcoholic Spirits - - - - - -
- Other Liqueurs 274.6 280.7 286.7 162.7 136.6 148.8
- Cream-based Liqueurs 105.9 93.9 71.3 40.4 23.9 26.8
- Bitters - - - - - -
Liqueurs 380.5 374.6 358.0 203.2 160.5 175.6
- Cognac 1,508.2 1,630.2 1,748.2 1,013.1 680.3 776.8

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- Brandy 438.1 450.5 463.8 342.0 275.0 320.9

Brandy and Cognac 1,946.3 2,080.8 2,212.0 1,355.1 955.3 1,097.6
Spirits 57,752.0 59,748.4 60,409.0 44,745.9 38,370.4 46,058.9
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 2 Sales of Spirits by Category: Total Value 2017-2022

VND billion
2017 2018 2019 2020 2021 2022

- Shochu/Soju 588.8 864.6 833.7 787.4 1,081.6 1,512.4

- Local White Spirits 6,447.7 6,841.9 7,201.7 5,367.1 4,412.2 5,516.7
Other Spirits 7,036.5 7,706.5 8,035.4 6,154.5 5,493.8 7,029.2
- Vodka 1,318.7 1,409.2 1,496.1 990.4 624.7 899.5
- Gin 205.9 197.6 189.5 125.6 80.2 108.8
White Spirits 1,524.6 1,606.8 1,685.5 1,116.0 704.9 1,008.3
- Other Whiskies 4.9 5.2 5.5 3.8 1.7 2.3
- Single Malt Scotch 683.5 726.7 768.9 543.4 405.7 553.2
Whisky
- Single Grain Scotch - - - - - -
Whisky
- Blended Scotch Whisky 6,883.3 6,691.2 6,650.3 3,933.0 3,047.3 3,807.9
- Japanese Whisky 354.3 413.3 472.5 405.9 370.7 414.2
- Irish Whiskey - - - - - -
- Canadian Whisky - - - - - -
- Bourbon/Other US 103.8 112.6 120.7 68.8 40.5 64.8
Whiskey
Whiskies 8,029.7 7,949.0 8,017.8 4,954.9 3,865.8 4,842.4
Tequila (and Mezcal) 359.4 411.9 506.7 390.4 315.7 409.9
- White Rum 636.9 697.7 760.9 472.9 325.5 375.1
- Dark Rum 99.1 100.0 100.6 65.6 33.8 40.7
Rum 735.9 797.8 861.5 538.5 359.3 415.9
Non Alcoholic Spirits - - - - - -
- Other Liqueurs 191.2 203.0 214.7 110.1 86.8 101.7
- Cream-based Liqueurs 100.5 92.5 71.7 37.4 18.5 23.5
- Bitters - - - - - -
Liqueurs 291.7 295.5 286.4 147.5 105.2 125.1
- Cognac 6,949.3 7,842.8 8,678.0 4,698.9 2,850.1 3,523.1
- Brandy 782.7 838.9 890.5 620.1 458.7 595.5
Brandy and Cognac 7,732.0 8,681.6 9,568.5 5,319.0 3,308.8 4,118.6
Spirits 25,709.9 27,449.2 28,961.9 18,620.8 14,153.5 17,949.4
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 3 Sales of Spirits by Category: % Total Volume Growth 2017-2022

% total volume growth

2021/22 2017-22 CAGR 2017/22 Total

- Shochu/Soju 31.3 16.8 117.4

- Local White Spirits 18.8 -5.4 -24.1
Other Spirits 20.3 -3.6 -16.9
- Vodka 34.8 -10.0 -41.1
- Gin 27.8 -14.1 -53.1
White Spirits 33.4 -10.9 -43.8
- Other Whiskies 29.7 -14.1 -53.3

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- Single Malt Scotch Whisky 27.0 -3.9 -18.1

- Single Grain Scotch Whisky - - -
- Blended Scotch Whisky 14.8 -11.3 -45.1
- Japanese Whisky 5.7 -0.8 -3.7
- Irish Whiskey - - -
- Canadian Whisky - - -
- Bourbon/Other US Whiskey 49.1 -8.1 -34.6
Whiskies 16.1 -10.1 -41.2
Tequila (and Mezcal) 19.6 1.8 9.5
- White Rum 7.8 -9.6 -39.6
- Dark Rum 11.6 -16.9 -60.4
Rum 8.1 -10.3 -41.9
Non Alcoholic Spirits - - -
- Other Liqueurs 8.9 -11.5 -45.8
- Cream-based Liqueurs 11.8 -24.0 -74.7
- Bitters - - -
Liqueurs 9.4 -14.3 -53.9
- Cognac 14.2 -12.4 -48.5
- Brandy 16.7 -6.0 -26.8
Brandy and Cognac 14.9 -10.8 -43.6
Spirits 20.0 -4.4 -20.2
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 4 Sales of Spirits by Category: % Total Value Growth 2017-2022

% local currency, current value growth

2021/22 2017-22 CAGR 2017/22 Total

- Shochu/Soju 39.8 20.8 156.9

- Local White Spirits 25.0 -3.1 -14.4
Other Spirits 27.9 0.0 -0.1
- Vodka 44.0 -7.4 -31.8
- Gin 35.8 -12.0 -47.1
White Spirits 43.1 -7.9 -33.9
- Other Whiskies 39.2 -13.8 -52.4
- Single Malt Scotch Whisky 36.4 -4.1 -19.1
- Single Grain Scotch Whisky - - -
- Blended Scotch Whisky 25.0 -11.2 -44.7
- Japanese Whisky 11.7 3.2 16.9
- Irish Whiskey - - -
- Canadian Whisky - - -
- Bourbon/Other US Whiskey 60.2 -9.0 -37.6
Whiskies 25.3 -9.6 -39.7
Tequila (and Mezcal) 29.9 2.7 14.0
- White Rum 15.3 -10.0 -41.1
- Dark Rum 20.5 -16.3 -58.9
Rum 15.7 -10.8 -43.5
Non Alcoholic Spirits - - -
- Other Liqueurs 17.2 -11.9 -46.8
- Cream-based Liqueurs 26.9 -25.2 -76.7
- Bitters - - -
Liqueurs 18.9 -15.6 -57.1
- Cognac 23.6 -12.7 -49.3
- Brandy 29.8 -5.3 -23.9
Brandy and Cognac 24.5 -11.8 -46.7
Spirits 26.8 -6.9 -30.2

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Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 5 Sales of Spirits by Off-trade vs On-trade: Volume 2017-2022

'000 litres
2017 2018 2019 2020 2021 2022

Off-trade 16,435.2 17,070.5 17,258.0 18,354.8 21,500.5 25,460.8

On-trade 41,316.8 42,677.9 43,150.9 26,391.1 16,869.9 20,598.1
Total 57,752.0 59,748.4 60,409.0 44,745.9 38,370.4 46,058.9
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 6 Sales of Spirits by Off-trade vs On-trade: Value 2017-2022

VND billion
2017 2018 2019 2020 2021 2022

Off-trade 4,041.5 4,394.2 4,650.6 5,464.2 6,430.8 7,680.3

On-trade 21,668.4 23,055.0 24,311.4 13,156.7 7,722.7 10,269.2
Total 25,709.9 27,449.2 28,961.9 18,620.8 14,153.5 17,949.4
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 7 Sales of Spirits by Off-trade vs On-trade: % Volume Growth 2017-2022

% volume growth
2021/22 2017-22 CAGR 2017/22 Total

Off-trade 18.4 9.1 54.9

On-trade 22.1 -13.0 -50.1
Total 20.0 -4.4 -20.2
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 8 Sales of Spirits by Off-trade vs On-trade: % Value Growth 2017-2022

% current value growth

2021/22 2017-22 CAGR 2017/22 Total

Off-trade 19.4 13.7 90.0

On-trade 33.0 -13.9 -52.6
Total 26.8 -6.9 -30.2
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 9 Sales of Dark Rum by Price Platform: % Total Volume 2017-2022

% total volume
2017 2018 2019 2020 2021 2022

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Super Premium 27.9 26.9 25.4 25.0 26.2 24.3

Premium 7.4 6.9 6.5 6.3 6.5 5.9
Standard 64.7 66.2 68.1 68.7 67.3 69.8
Total 100.0 100.0 100.0 100.0 100.0 100.0
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources
Note: ‘-’ indicates data not available

Table 10 Sales of White Rum by Price Platform: % Total Volume 2017-2022

% total volume
2017 2018 2019 2020 2021 2022

Standard 100.0 100.0 100.0 100.0 100.0 100.0

Total 100.0 100.0 100.0 100.0 100.0 100.0
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources
Note: ‘-’ indicates data not available

Table 11 Sales of Other Blended Scotch Whisky by Price Platform: % Total Volume 2017-
2022

% total volume
2017 2018 2019 2020 2021 2022

Prestige 2.9 3.2 3.3 3.1 3.1 2.9

Ultra Premium 7.4 8.4 8.8 7.7 7.4 6.8
Super Premium 32.0 29.1 27.5 25.8 26.3 26.7
Premium 29.9 31.0 32.0 33.1 32.7 33.6
Standard 27.7 28.3 28.3 30.3 30.6 30.0
Total 100.0 100.0 100.0 100.0 100.0 100.0
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources
Note: ‘-’ indicates data not available

Table 12 Sales of English Gin by Price Platform: % Total Volume 2017-2022

% total volume
2017 2018 2019 2020 2021 2022

Super Premium 10.0 8.8 8.2 7.9 9.3 8.9

Premium 70.0 71.7 72.3 72.8 70.4 70.7
Standard 20.0 19.4 19.5 19.3 20.3 20.4
Total 100.0 100.0 100.0 100.0 100.0 100.0
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources
Note: ‘-’ indicates data not available

Table 13 Sales of Vodka by Price Platform: % Total Volume 2017-2022

% total volume
2017 2018 2019 2020 2021 2022

Super Premium 1.1 1.0 0.9 1.0 0.9 0.9

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Premium 2.8 3.1 3.3 3.4 3.1 3.2

Standard 74.8 79.6 82.7 83.4 79.7 81.0
Economy 21.4 16.2 13.0 12.2 16.3 14.9
Total 100.0 100.0 100.0 100.0 100.0 100.0
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources
Note: ‘-’ indicates data not available

Table 14 Sales of Vodka by Flavoured vs Non-flavoured: % Total Volume 2017-2022

% total volume
2017 2018 2019 2020 2021 2022

Flavoured Vodka 7.4 7.5 7.6 7.7 7.8 7.8

Non-Flavoured Vodka 92.6 92.5 92.4 92.3 92.2 92.2
Total 100.0 100.0 100.0 100.0 100.0 100.0
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 15 GBO Company Shares of Spirits: % Total Volume 2018-2022

% total volume
Company 2018 2019 2020 2021 2022

Hite Jinro Co Ltd 3.7 3.9 4.8 5.4 5.5

Hanoi Alcohol Beer & 5.1 5.5 5.4 5.1 5.1
Beverages Corp (Habeco)
Diageo Plc 2.5 2.4 2.3 2.2 2.2
Pernod Ricard Groupe 3.0 3.0 2.4 2.1 2.0
Lotte Group 1.6 1.3 1.5 2.2 2.0
Avina JSC 1.3 1.3 1.5 1.1 1.2
Thai Beverage PCL 1.2 0.9 1.0 1.0 1.0
Aroma Co Ltd 0.9 0.9 1.0 0.8 1.0
LVMH Moët Hennessy Louis 1.2 1.2 1.0 0.8 0.7
Vuitton SA
William Grant & Sons Ltd 0.5 0.6 0.5 0.5 0.5
Rémy Cointreau Group 0.5 0.5 0.5 0.4 0.3
Bacardi & Co Ltd 0.4 0.4 0.4 0.4 0.3
SPI Group 0.3 0.3 0.3 0.2 0.2
Edrington Group 0.2 0.2 0.2 0.2 0.2
Camus la Grande Marque SA 0.3 0.3 0.3 0.2 0.2
Château de Laubade 0.1 0.1 0.1 0.1 0.1
Campari Milano SpA, Davide 0.1 0.1 0.1 0.1 0.1
Brown-Forman Corp 0.1 0.1 0.1 0.1 0.1
Grandes Distilleries de 0.1 0.1 0.1 0.1 0.1
Charleroi SA
Suntory Holdings Ltd 0.1 0.1 0.1 0.1 0.1
Saigon Alcohol Beer & - - - - -
Beverages Corp (Sabeco)
Others 76.8 76.6 76.3 77.0 77.1
Total 100.0 100.0 100.0 100.0 100.0
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 16 NBO Company Shares of Spirits: % Total Volume 2018-2022

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% total volume
Company 2018 2019 2020 2021 2022

Hite Jinro Vietnam Co Ltd 3.7 3.9 4.8 5.4 5.5

Hanoi Liquor JSC 5.1 5.5 5.4 5.1 5.1
Diageo Plc 2.5 2.4 2.3 2.2 2.2
Pernod Ricard Groupe 3.0 3.0 2.5 2.2 2.1
Lotte Vietnam Co Ltd 1.6 1.3 1.5 2.2 2.0
Avina JSC 1.3 1.3 1.5 1.1 1.2
Aroma Co Ltd 0.9 0.9 1.0 0.8 1.0
LVMH Moët Hennessy Louis 1.2 1.2 1.0 0.8 0.7
Vuitton SA
Binh Tay Liquor Co JV 0.8 0.7 0.7 0.7 0.7
Raynal & Cie Negociants A 0.4 0.5 0.5 0.4 0.4
Rémy Cointreau Group 0.5 0.5 0.5 0.4 0.3
Dong Xuan Liquor Co Ltd 0.4 0.3 0.3 0.3 0.3
Bacardi & Co Ltd 0.4 0.4 0.4 0.4 0.3
Soyuzplodimport ZAO 0.3 0.3 0.3 0.2 0.2
Camus la Grande Marque SA 0.3 0.3 0.3 0.2 0.2
Edrington Group 0.2 0.2 0.2 0.2 0.2
Château de Laubade 0.1 0.1 0.1 0.1 0.1
Campari Milano SpA, Davide 0.1 0.1 0.1 0.1 0.1
Brown-Forman Corp 0.1 0.1 0.1 0.1 0.1
Grandes Distilleries de 0.1 0.1 0.1 0.1 0.1
Charleroi SA
Suntory Holdings Ltd 0.1 0.1 0.1 0.1 0.1
William Grant & Sons Ltd 0.1 0.1 0.1 0.1 0.1
Others 76.7 76.5 76.3 77.0 77.0
Total 100.0 100.0 100.0 100.0 100.0
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 17 LBN Brand Shares of Spirits: % Total Volume 2019-2022

% total volume
Brand (Global Brand Company 2019 2020 2021 2022
Owner)

Jinro (Hite Jinro Co Hite Jinro Vietnam Co Ltd 3.9 4.8 5.4 5.5
Ltd)
Vodka Hanoi (Hanoi Hanoi Liquor JSC 3.3 3.0 3.0 3.0
Alcohol Beer &
Beverages Corp
(Habeco))
Chum Churum (Lotte Lotte Vietnam Co Ltd 1.3 1.5 2.2 2.0
Group)
Avinaa Avina JSC 1.3 1.5 1.1 1.2
Men's Aroma Co Ltd 0.9 1.0 0.8 1.0
Johnnie Walker Red Diageo Plc 0.7 0.7 0.8 0.7
Label
Hennessy VSOP Privilège LVMH Moët Hennessy Louis 1.2 1.0 0.7 0.7
Vuitton SA
Hanoi Lua Moi (Hanoi Hanoi Liquor JSC 0.6 0.7 0.6 0.6
Alcohol Beer &
Beverages Corp
(Habeco))
Vina Vodka (Thai Binh Tay Liquor Co JV 0.5 0.6 0.6 0.6
Beverage PCL)

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SPIRITS IN VIETNAM Passport 10

Johnnie Walker Black Diageo Plc 0.4 0.4 0.4 0.4

Label
Others Others 85.8 84.8 84.4 84.4
Total Total 100.0 100.0 100.0 100.0
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 18 Forecast Sales of Spirits by Category: Total Volume 2022-2027

'000 litres
2022 2023 2024 2025 2026 2027

- Shochu/Soju 5,535.1 5,859.7 6,320.3 6,816.7 7,179.1 7,369.0

- Local White Spirits 36,060.6 40,817.1 46,301.5 51,340.3 56,688.2 62,309.6
Other Spirits 41,595.7 46,676.9 52,621.8 58,156.9 63,867.3 69,678.7
- Vodka 638.4 701.5 794.3 878.6 968.5 1,048.0
- Gin 148.9 171.4 195.6 220.1 244.5 270.2
White Spirits 787.2 872.8 990.0 1,098.7 1,213.0 1,318.2
- Other Whiskies 6.1 7.0 8.0 9.1 10.2 11.3
- Single Malt Scotch 196.0 237.2 276.9 317.7 360.8 406.7
Whisky
- Single Grain Scotch - - - - - -
Whisky
- Blended Scotch Whisky 1,411.6 1,583.4 1,783.6 2,011.1 2,261.9 2,518.5
- Japanese Whisky 111.0 122.8 139.5 156.8 172.9 190.0
- Irish Whiskey - - - - - -
- Canadian Whisky - - - - - -
- Bourbon/Other US 44.9 51.6 59.7 68.9 77.6 86.4
Whiskey
Whiskies 1,769.7 2,001.9 2,267.7 2,563.6 2,883.4 3,212.8
Tequila (and Mezcal) 146.0 169.1 191.4 212.1 232.3 251.8
- White Rum 449.8 497.6 574.0 647.9 724.2 800.9
- Dark Rum 37.2 41.9 48.4 55.3 62.5 69.7
Rum 487.1 539.5 622.4 703.2 786.6 870.6
Non Alcoholic Spirits - - - - - -
- Other Liqueurs 148.8 167.1 190.4 213.1 236.7 258.2
- Cream-based Liqueurs 26.8 29.3 33.5 37.7 42.0 45.9
- Bitters - - - - - -
Liqueurs 175.6 196.5 223.9 250.8 278.7 304.1
- Cognac 776.8 878.8 981.4 1,091.4 1,209.8 1,339.0
- Brandy 320.9 369.7 422.9 477.6 532.9 589.5
Brandy and Cognac 1,097.6 1,248.5 1,404.3 1,568.9 1,742.7 1,928.5
Spirits 46,058.9 51,705.1 58,321.6 64,554.4 71,004.0 77,564.6
Source: Euromonitor International from trade associations, trade press, company research, trade interviews,
trade sources

Table 19 Forecast Sales of Spirits by Category: Total Value 2022-2027

VND billion
2022 2023 2024 2025 2026 2027

- Shochu/Soju 1,512.4 1,644.8 1,813.1 2,002.1 2,161.4 2,279.6

- Local White Spirits 5,516.7 6,354.4 7,365.6 8,340.4 9,415.6 10,604.1
Other Spirits 7,029.2 7,999.2 9,178.7 10,342.5 11,577.0 12,883.7
- Vodka 899.5 1,014.5 1,181.2 1,343.7 1,525.7 1,702.5
- Gin 108.8 127.8 149.3 172.0 196.1 222.8
White Spirits 1,008.3 1,142.3 1,330.5 1,515.7 1,721.8 1,925.2

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SPIRITS IN VIETNAM Passport 11

- Other Whiskies 2.3 2.7 3.2 3.7 4.3 4.9

- Single Malt Scotch 553.2 690.1 831.3 985.0 1,156.8 1,349.8
Whisky
- Single Grain Scotch - - - - - -
Whisky
- Blended Scotch Whisky 3,807.9 4,395.6 5,099.8 5,943.8 6,930.9 8,019.2
- Japanese Whisky 414.2 466.4 540.5 621.1 699.2 786.6
- Irish Whiskey - - - - - -
- Canadian Whisky - - - - - -
- Bourbon/Other US 64.8 75.8 90.6 108.0 125.8 145.1
Whiskey
Whiskies 4,842.4 5,630.7 6,565.3 7,661.6 8,917.0 10,305.6
Tequila (and Mezcal) 409.9 486.5 563.1 636.4 710.6 785.8
- White Rum 375.1 428.6 511.4 593.3 682.6 778.6
- Dark Rum 40.7 47.0 55.8 65.7 76.4 88.0
Rum 415.9 475.6 567.2 658.9 759.0 866.6
Non Alcoholic Spirits - - - - - -
- Other Liqueurs 101.7 117.7 137.2 157.6 179.7 201.4
- Cream-based Liqueurs 23.5 26.3 31.0 35.9 41.4 46.9
- Bitters - - - - - -
Liqueurs 125.1 143.9 168.2 193.5 221.1 248.4
- Cognac 3,523.1 4,233.8 4,886.3 5,599.6 6,381.0 7,246.1
- Brandy 595.5 708.7 831.8 965.1 1,107.9 1,263.7
Brandy and Cognac 4,118.6 4,942.6 5,718.1 6,564.8 7,488.9 8,509.8
Spirits 17,949.4 20,820.9 24,091.1 27,573.5 31,395.4 35,525.1
Source: Euromonitor International from trade associations, trade press, company research, trade interviews,
trade sources

Table 20 Forecast Sales of Spirits by Category: % Total Volume Growth 2022-2027

% total volume growth

2022/23 2022-27 CAGR 2022/27 Total

- Shochu/Soju 5.9 5.9 33.1

- Local White Spirits 13.2 11.6 72.8
Other Spirits 12.2 10.9 67.5
- Vodka 9.9 10.4 64.2
- Gin 15.1 12.7 81.5
White Spirits 10.9 10.9 67.5
- Other Whiskies 15.0 13.2 85.9
- Single Malt Scotch Whisky 21.0 15.7 107.5
- Single Grain Scotch Whisky - - -
- Blended Scotch Whisky 12.2 12.3 78.4
- Japanese Whisky 10.6 11.3 71.1
- Irish Whiskey - - -
- Canadian Whisky - - -
- Bourbon/Other US Whiskey 14.7 14.0 92.2
Whiskies 13.1 12.7 81.5
Tequila (and Mezcal) 15.8 11.5 72.4
- White Rum 10.6 12.2 78.1
- Dark Rum 12.6 13.3 87.1
Rum 10.8 12.3 78.7
Non Alcoholic Spirits - - -
- Other Liqueurs 12.3 11.7 73.5
- Cream-based Liqueurs 9.6 11.4 71.5
- Bitters - - -
Liqueurs 11.9 11.6 73.2
- Cognac 13.1 11.5 72.4
- Brandy 15.2 12.9 83.7

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SPIRITS IN VIETNAM Passport 12

Brandy and Cognac 13.7 11.9 75.7

Spirits 12.3 11.0 68.4
Source: Euromonitor International from trade associations, trade press, company research, trade interviews,
trade sources

Table 21 Forecast Sales of Spirits by Category: % Total Value Growth 2022-2027

% local currency, constant value growth

2022/2023 2022-27 CAGR 2022/27 Total

- Shochu/Soju 8.8 8.6 50.7

- Local White Spirits 15.2 14.0 92.2
Other Spirits 13.8 12.9 83.3
- Vodka 12.8 13.6 89.3
- Gin 17.4 15.4 104.7
White Spirits 13.3 13.8 90.9
- Other Whiskies 17.2 16.0 109.9
- Single Malt Scotch Whisky 24.7 19.5 144.0
- Single Grain Scotch Whisky - - -
- Blended Scotch Whisky 15.4 16.1 110.6
- Japanese Whisky 12.6 13.7 89.9
- Irish Whiskey - - -
- Canadian Whisky - - -
- Bourbon/Other US Whiskey 17.0 17.5 123.8
Whiskies 16.3 16.3 112.8
Tequila (and Mezcal) 18.7 13.9 91.7
- White Rum 14.2 15.7 107.5
- Dark Rum 15.5 16.7 116.1
Rum 14.4 15.8 108.4
Non Alcoholic Spirits - - -
- Other Liqueurs 15.7 14.7 98.1
- Cream-based Liqueurs 12.0 14.9 100.0
- Bitters - - -
Liqueurs 15.0 14.7 98.5
- Cognac 20.2 15.5 105.7
- Brandy 19.0 16.2 112.2
Brandy and Cognac 20.0 15.6 106.6
Spirits 16.0 14.6 97.9
Source: Euromonitor International from trade associations, trade press, company research, trade interviews,
trade sources

© Euromonitor International