Vietnamese are expected to consume 4.87 million litres of soft drinks this year and that number is expected to grow to 7.43 million litres by 2033, according to a Markets and Research report. This represents an increase of 2.56 million litres and a compounded annual growth rate of 4.8 percent.
Of note, Vietnam is currently debating adding soft drinks to the list of items subject to the Special Consumption Tax–or SCT–though sometimes called an excise tax or Special Sales Tax. This is an indirect tax on luxury goods or goods that are harmful to people or the environment. For example, cigarettes or alcohol.
In the most recent draft of Vietnam’s Special Consumption Tax, the Ministry of Finance has included a ten percent tax on drinks with 5 grams or more of sugar per 100 millilitres. This legislation, however, is still in its draft stage.
See also: Vietnam looking at introducing sugar tax on soft drinks