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Staff Reporter

, Vietnam

Published:

1 year ago

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Source: Eyad Tariq (Pexels)

What will drive hot drinks sales growth in Vietnam?

The market is expected to grow 9.1% annually.

The hot drinks sector in Vietnam is expected to rise by 9.1% compound annual growth rate (CAGR) through 2027, which GlobalData linked to product innovation and cafe chain expansion.

By 2027, it is projected that the market will be valued at $4.3b, driven by the return of tourism activities, new product launches and campaigns, as well as the expansion of hotel, restaurant, and cafe.

“The easing of the Zero COVID-19 policy, and the improving economic conditions unleashed pent-up consumer demand for out-of-home dining occasions, social gatherings, and celebrations in 2022,” Tim Hill, Key Account Director at GlobalData Singapore, said.

“Moreover, café operators, such as Starbucks, Phuc Long Coffee & Tea Co, Viet Thai International, The Coffee House, and Chuk Coffee & Tea introduced novel menu offerings. As a result, on-premise consumption of hot tea and hot coffee rebounded in Vietnam in 2022.”

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