Vietnam Soft Drinks Market 2025

Vietnam’s soft drinks market is set for sustained expansion, buoyed by a resurgent tourism sector and improving macroeconomic conditions. The government’s ambitious target of attracting 22-23 million international visitors and 120-130 million domestic tourists in 2025 – with further growth projected to reach 35 million foreign arrivals and 160 million domestic trips by 2030 – is expected to significantly boost on-trade sales, particularly in hospitality and travel hubs. This upward trajectory aligns with the World Bank’s 2024 GDP forecasts of 6.0% growth in 2025 and 6.5% in 2026, which should strengthen consumer purchasing power and amplify discretionary spending on dining out and seasonal gifting, especially during cultural festivities like Lunar New Year.

Product innovation is reshaping the competitive landscape as manufacturers respond to evolving consumer preferences. The market has seen a surge in novel flavors and packaging formats, alongside a pronounced pivot toward sugar-free and reduced-sugar offerings. This shift reflects heightened health awareness, driven by government warnings over Vietnam’s rising diabetes prevalence. E-commerce platforms are further accelerating demand for discounted multipacks and promotional bundles, as price-sensitive shoppers increasingly balance health considerations with value-seeking behavior.

While carbonates and traditional sweetened beverages still dominate volume sales, the premiumization of functional drinks and ready-to-drink teas – often marketed with wellness claims – is gaining traction among urban millennials. The challenge for brands lies in navigating this dual demand: catering to tourism-driven impulse purchases in on-trade venues while simultaneously addressing off-trade demand for healthier, affordable options. With distribution networks expanding beyond major cities and digital commerce penetration deepening, Vietnam’s soft drinks market is evolving into a nuanced battleground where convenience, health positioning, and pricing agility will dictate winners in this high-growth ASEAN frontier.

Focused on delivering actionable insights, this report explores the Vietnam soft drinks market, analyzing historical performance from 2020 to 2024 and providing forecasts up to 2030. It assesses market size, growth dynamics, and segment-specific trends, highlighting the factors driving change in the industry. By breaking down the market into product type, type, packaging and distribution channel, the report equips decision-makers with a clear understanding of the competitive landscape and growth potential.

Market Segmentation

The following outlines the segmentation of the Vietnam soft drinks market:
Product type: bottled water, carbonated soft drinks, concentrates, juices, RTD coffee, RTD tea, energy drinks, sports drinks, others
Type: regular, low- and no-sugar soft drinks
Packaging: flexible packaging, glass bottles, liquid cartons, metal cans, plastic bottles, others
Distribution channel: convenience stores, e-commerce, food and drinks stores, hypermarkets, small grocery stores, supermarkets, others

The Vietnam market for soft drinks is divided based on product type, type, packaging and distribution channel. By product type, the market is categorized into bottled water, carbonated soft drinks, concentrates, juices, RTD coffee, RTD tea, energy drinks, sports drinks, and others. Type categories include regular, and low- and no-sugar soft drinks. Packaging segments are categorized into flexible packaging, glass bottles, liquid cartons, metal cans, plastic bottles, and others. Distribution channel segmentation comprises convenience stores, e-commerce, food and drinks stores, hypermarkets, small grocery stores, supermarkets, and others.

Competitive Landscape

The Vietnam soft drinks market exhibits significant competition. Leading companies within the market include Ben Tre Import and Export Joint Stock Company (Betrimex), Bitexco Group, Hoang Minh Water Joint Stock Company, JG Summit Holdings Inc., Kirin Holdings Co. Ltd., Masan Group Corporation, Nestle S.A., New Tower Ltd., Otsuka Holdings Co. Ltd., PepsiCo Inc., Quang Ngai Sugar Joint Stock Company, Saigon Pure Water Co. Ltd., Sapporo Holdings Limited, Suntory Holdings Limited, T.C. Pharmaceutical Industries Co. Ltd., Taisho Pharmaceutical Holdings Company Ltd., Tan Hiep Phat Beverage Group (THP), The Coca-Cola Company and Vietnam Dairy Products Joint Stock Company (Vinamilk).

This report delivers an in-depth examination of leading companies in the soft drinks sector, analyzing their performance from 2020 to 2024. The results indicate changes in market share, emphasizing both established leaders and new entrants.

Why Buy This Report?

Obtain precise statistical data and forecasts for the Vietnam soft drinks market.
Gain in-depth analysis and forecasts for the key segments of the Vietnam soft drinks market: product type, type, packaging and distribution channel.
Develop region-specific strategies and set strategic priorities based on localized data analysis.
Gain deep insights into the dynamics of the Vietnam soft drinks market.
Identify high-potential investment opportunities by targeting growth sectors and emerging trends.
Anticipate the future trajectory of the Vietnam soft drinks market with informed projections.
Assess the competitive landscape to determine the ideal timing for capitalizing on market opportunities.
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Table of Contents

TABLE OF CONTENTS
Key Findings
Market Segmentation
Market Overview
Vietnam Soft Drinks Market – Product Type Analysis
Vietnam Soft Drinks Market – Type Analysis
Vietnam Soft Drinks Market – Packaging Analysis
Vietnam Soft Drinks Market – Distribution Channel Analysis
Company Shares Analysis
Ben Tre Import and Export Joint Stock Company (Betrimex)
Bitexco Group
Hoang Minh Water Joint Stock Company
JG Summit Holdings, Inc.
Kirin Holdings Co., Ltd.
Masan Group Corporation
Nestle S.A.
New Tower Ltd.
Otsuka Holdings Co. Ltd.
…
Macroeconomic Data and Forecast
Research Methodology
Disclaimer

FIGURES AND TABLES
Table Vietnam Soft Drinks Market 2020-2030
Chart Vietnam Soft Drinks Market, Net Growth, 2020-2030
Chart Vietnam Soft Drinks Market, Growth Rates, 2020-2030
Table Vietnam Soft Drinks Market by Product Type, 2020-2030
Chart Vietnam Soft Drinks Market by Product Type, CAGR Historic and Forecast, 2020-2030
Chart Vietnam Soft Drinks Market by Product Type, 2020-2030
Table Vietnam Soft Drinks Market by Type, 2020-2030
Chart Vietnam Soft Drinks Market by Type, CAGR Historic and Forecast, 2020-2030
Chart Vietnam Soft Drinks Market by Type, 2020-2030
Table Vietnam Soft Drinks Market by Packaging, 2020-2030
Chart Vietnam Soft Drinks Market by Packaging, CAGR Historic and Forecast, 2020-2030
Chart Vietnam Soft Drinks Market by Packaging, 2020-2030
Table Vietnam Soft Drinks Market by Distribution Channel, 2020-2030
Chart Vietnam Soft Drinks Market by Distribution Channel, CAGR Historic and Forecast, 2020-2030
Chart Vietnam Soft Drinks Market by Distribution Channel, 2020-2030
Table Vietnam Soft Drinks Market Share (%), by Companies, 2020-2024
Chart Vietnam Soft Drinks Market, by Companies, 2024
Table Vietnam Soft Drinks Market Share (%), by Brands, 2020-2024
Chart Vietnam Soft Drinks Market, by Brands, 2024
Table Vietnam – Population (Millions) and Forecast
Table Vietnam – Consumer Price Index (CPI) and Forecast
Table Vietnam – Gross Domestic Product and Forecast
Table Vietnam Soft Drinks Market: Spend as a Proportion of GDP (%)
Table Vietnam Soft Drinks Market: Consumption per Capita (Population)

Companies Mentioned

Ben Tre Import and Export Joint Stock Company (Betrimex)
Bitexco Group
Hoang Minh Water Joint Stock Company
JG Summit Holdings, Inc.
Kirin Holdings Co., Ltd.
Masan Group Corporation
Nestle S.A.
New Tower Ltd.
Otsuka Holdings Co. Ltd.
PepsiCo, Inc.
Quang Ngai Sugar Joint Stock Company
Saigon Pure Water Co., Ltd.
Sapporo Holdings Limited
Suntory Holdings Limited
T.C. Pharmaceutical Industries Co., Ltd.
Taisho Pharmaceutical Holdings Company Ltd.
Tan Hiep Phat Beverage Group (THP)
The Coca-Cola Company
Vietnam Dairy Products Joint Stock Company (Vinamilk)