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Spirits in Vietnam
Spirits in Vietnam
Euromonitor International
June 2023
SPIRITS IN VIETNAM Passport i
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SPIRITS IN VIETNAM Passport 1
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
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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.
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.
CATEGORY DATA
Table 1 Sales of Spirits by Category: Total Volume 2017-2022
'000 litres
2017 2018 2019 2020 2021 2022
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VND billion
2017 2018 2019 2020 2021 2022
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Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources
'000 litres
2017 2018 2019 2020 2021 2022
VND billion
2017 2018 2019 2020 2021 2022
% volume growth
2021/22 2017-22 CAGR 2017/22 Total
% total volume
2017 2018 2019 2020 2021 2022
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% total volume
2017 2018 2019 2020 2021 2022
Table 11 Sales of Other Blended Scotch Whisky by Price Platform: % Total Volume 2017-
2022
% total volume
2017 2018 2019 2020 2021 2022
% total volume
2017 2018 2019 2020 2021 2022
% total volume
2017 2018 2019 2020 2021 2022
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% total volume
2017 2018 2019 2020 2021 2022
% total volume
Company 2018 2019 2020 2021 2022
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% total volume
Company 2018 2019 2020 2021 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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'000 litres
2022 2023 2024 2025 2026 2027
VND billion
2022 2023 2024 2025 2026 2027
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