In 2024, the unit price of raw coffee, especially Robusta, has increased markedly due to various factors, such as production losses due to the El Nino phenomenon, wars, and the security crisis in the Red Sea, resulting in increased shipping and related costs. Many financial speculators are now investing in coffee, following oil and gold, which is also driving up prices.
In 2024, hot drinks has seen innovative products with new flavours and formats, alongside a rise in sugar-free and reduced sugar options. However, consumer brand loyalty has been decreasing, as some individuals are focusing on saving money, therefore opting for more affordable products, or delaying purchases until discounts are available.
In 2024, Nestlé Vietnam Co Ltd, Masan Group Corp, and Trung Nguyen Corp are expected to remain the top three players in hot drinks in Vietnam in retail value terms, which has been the situation for many years. All of these are active in terms of marketing and advertising activities to build strong brand names.
In 2024, Vietnamese consumers have shown an increasing interest in retail e-commerce, driven by frequent discount campaigns and the ease of use this distribution channel offers. Brands such as Milo have placed a greater emphasis on online platforms to boost their sales via retail e-commerce sites such as Shopee and Lazada.
Locals are still concerned about the economy and their job security in 2024. People are therefore more selective about what and where they consume, with some putting off outings to restaurants and cafés, or waiting for sales at online retailers to make retail purchases.
The World Bank’s 2024 forecast indicates that Vietnam’s GDP is expected to experience positive economic growth in the coming years, with projections of 6.0% for 2025 and 6.
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Understand the latest market trends and future growth opportunities for the Hot Drinks industry in Vietnam with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
Data and analysis in this report provides further detailed coverage dedicated to the following key categories, where applicable:
If you're in the Hot Drinks industry in Vietnam, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Hot Drinks
This report originates from Passport, our Hot Drinks research and analysis database.
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