Vietnam’s beer and malt production sector experienced a strong month-over-month increase in October 2024, with output rising by 8.7 percent compared to September. This is a positive sign after a somewhat tumultuous year.
However, the year-over-year data paints a different picture. While production grew by 2.8 percent in October 2024 compared to October 2023, the cumulative figures from January to October 2024 show a 2.1 percent decline from the same period last year. This indicates that, despite recent gains, the sector has struggled with consistent growth over the year, possibly due to shifts in consumer preferences, rising production costs, and fluctuating demand.
While the beer and malt industry is seeing short-term recovery, sustaining growth may require adjustments to address changing market dynamics and evolving consumer trends, particularly as health-conscious choices gain popularity.
See also: Vietnam Beer: What You Need to Know 2024