The Industrial Production Index (IPI) for beer and malt production in Vietnam decreased by 0.67 percent in November compared to October, indicating a slight month-on-month drop, according to Vietnam’s General Statistics Office. Despite this decline, the sector has demonstrated year-on-year growth.
In November, the beer and malt production sector grew by 3.29 percent compared to the same month in 2023. However, over the first 11 months of 2024, the IPI for the sector contracted by 1.51 percent compared to the same period in the previous year, suggesting mixed performance trends.
This fluctuation can be attributed to seasonal demand variations, increased competition, and changing consumer preferences. While beer consumption remains strong in Vietnam, evolving health trends and shifts in beverage preferences have introduced challenges for the industry.
Beer and malt production remains an integral part of Vietnam’s beverage industry, contributing significantly to domestic consumption and exports. Innovations and diversification in product offerings will be crucial for the sector to achieve stable long-term growth.
See also: Vietnam Beer: What You Need to Know