Vietnam’s beer market could reach US$14.15 billion by 2032 according to a market report from Astute Analytica. The market intelligence firm says Vietnam’s beer market was worth US$7.5 billion and that it is expected to grow at a compounded annual growth rate of 7.27 percent from 2024 to 2032.
These estimates come just weeks after the closure of the Heineken plant in Quang Nam, in central Vietnam which was big news with the provincial government set to lose out on VND 500 billion–or about US$19.8 million–in tax revenue each year. That is not to mention that a number of jobs will also likely be lost.
This is off the back of slow growth in beer sales post-pandemic and in line with falling revenues among a number of Vietnam’s major beer brewers blamed on broader economic challenges and harsher drink driving penalties.
See also: What’s Happened to Vietnam’s Beer Market? Unpacked 2024