With a population of around 96.5 million, Vietnam is becoming an increasingly important wine market. The average consumption of alcoholic beverages by Vietnamese is 1.3 litres per capita per month.<\/p>\n\n\n\n
Wine is not traditionally consumed by the Vietnamese; beer is the most popular alcoholic drink.<\/p>\n\n\n\n
consumed in Vietnam. However, wine consumption is becoming increasingly popular. Still wines account for 80 % of total wine sales, including nearly 70 % of red wines. Bordeaux is the Vietnamese's favourite appellation, accounting for 71% of imported French wines; Languedoc is the 2nd favourite appellation, accounting for 15%.<\/p>\n\n\n\n
According to one of PWS's clients, there are 3 current challenges for French wine:<\/p>\n\n\n\n
- The first was the impact of Covid: many restaurants were closed, because if there was a case of Covid, the whole district would have to close for 5 to 6 months. While the wine market was in decline, wine imports tended to fall (60.8% in value, and 40% in volume).<\/p>\n\n\n\n
- The 2nd challenge is to find new trends for the wine market, which requires a great deal of effort to shape the wine market.<\/p>\n\n\n\n
- The 3rd challenge is that: although there is a free trade agreement between Vietnam and the European Union (EVFTA, which came into force in August 2020), this has led to an immediate reduction in import taxes for wine; but in a second phase, the tax on special consumption including wine will increase to 150% within 10 years (our client estimates). The result is therefore contradictory: the price of French wine will become more expensive.<\/p>\n\n\n\n
Even with its many challenges, the Vietnamese market is showing trends that favour French wine exports: according to BusinessFrance, Vietnam's affluent middle class currently represents 13 % of the population and is growing in importance, with an estimated 26 % by 2026. It has become \"elegant\" and \"trendy\" to drink imported alcohol. This Western-style chic and health concerns are prompting some consumers to switch from drinking beer and hard liquor to wine, which is becoming increasingly popular on the market, according to the #BusinessFrance study.<\/p>\n\n\n\n
We can see that Vietnam is a dynamic market with potential, so PWS has decided to follow this market more closely in 2022.<\/p>","protected":false},"excerpt":{"rendered":"