Vietnam’s wine market reached US$2.0 billion in 2024 and is projected to grow at a CAGR of 3.73 percent to reach US$2.8 billion by 2033, according to a report from IMARC Group.
Key drivers according to the report include:
- Rising incomes and urbanisation: A growing middle class with higher disposable incomes is fuelling demand for wine, particularly in major cities like Ho Chi Minh City and Hanoi.
- Youthful curiosity: Millennials and Gen Z are showing increased interest in wine, driven by social media, international travel, and Western dining habits.
- Health-conscious consumption: Perceived health benefits of moderate wine drinking, especially red wine, are aligning with wellness trends and boosting popularity.
- E-commerce expansion: Online wine sales are growing rapidly, supported by smartphone penetration and targeted digital marketing, particularly among younger consumers.
- Premiumisation and education: Demand is rising for imported, organic, and sustainable wines. Wine tastings and workshops are helping to build a more informed consumer base.
Vietnam’s wine market is evolving from a niche luxury segment into a broad consumer category, offering substantial opportunities for both domestic and international producers focused on brand storytelling, health positioning, and omnichannel retail.
See also: Vietnam’s Wine Industry 2025: Growth, Imports & Key Players