The country’s beer consumption is forecast to grow by more than 7% per year despite tigher rules
Vietnam’s beer industry is poised for robust expansion, with market value projected to surge from US$7.89 billion in 2024 to US$14.85 billion by 2033, according to new research by Astute Analytica.
The study forecasts a compound annual growth rate (CAGR) of 7.27% between 2025 and 2033, highlighting Vietnam’s status as the ninth-largest beer consumer globally, accounting for 2.20% of worldwide market share.
Annual consumption exceeds 3.8 million kilolitres, making Vietnam the third-largest beer consumer in Asia behind China and Japan, according to research.
This strong performance reflects a long-standing cultural attachment to beer. There is also good news for craft brewers. While mass-produced lagers remain popular, demand for premium and craft beers is on the rise, especially among younger, urban consumers seeking diverse and sophisticated experiences.
The report also noted that major brewers in the country wield considerable influence. Heineken Vietnam, holding a 37% market share, operates six breweries nationwide, including its Vung Tau facility—the largest in Southeast Asia, with an annual capacity of 1.1 billion litres.
Sabeco, the second-biggest player, maintains 26 factories, collectively producing more than 2.2 billion litres per year, which it now exports to 30 countries worldwide.
Habeco and Carlsberg Vietnam also command significant shares, focusing on northern and central provinces, respectively.
The buoyant growth prospects are dampened, however, because the market likely faces tightening government regulations and rising production costs, along with excise taxes that may dampen consumption.
This is likely to be moderated by an expanding middle class with higher disposable incomes that continues to drive spending on leisure and premium beverages, fueling optimism for sustained industry expansion.
Packaging trends are also shifting, with breweries increasingly adopting cans and PET bottles to enhance sustainability and brand appeal.
