The import value of grape wines and grape must into Vietnam stood at 28.268 million USD in 2023. Historically, the market saw significant growth between 2013 and 2015, followed by fluctuating yet overall positive trends up to 2023. Year-on-year import value changes show varied trends, with significant growths in some years (33.1% in 2015) and slight declines in others (-3.02% in 2016). Over the last five years leading up to 2023, the compound annual growth rate (CAGR) settled at 3.42%, indicating a steady albeit moderate growth in imports.
For the future, the forecasted CAGR for the next five years is projected at 2.27%, resulting in an overall growth rate of 11.89% by 2028. This suggests a continued but slower growth trajectory in the import values. Trends to watch for include changes in consumer preferences, economic conditions, and trade policies that could impact import volumes and values. Keeping an eye on regional competitors and international wine market trends will also be critical for maintaining market positioning and anticipating shifts in demand.
