The market size for mate and tea in Vietnam has shown a general upward trend from 2014 through 2023, with a slight decline observed in 2020. The market volume in 2023 stood at 111.0 Thousand Metric Tons, reflecting a YoY growth rate of 1.83%. The 5-year CAGR from 2019 to 2023 is 1.31%, indicating moderate growth. Notably, between 2014 and 2018, the market experienced stronger growth, with YoY increases consistently above 6%. Despite the dip in 2020, the market recovered and maintained incremental growth.
Looking ahead to 2028, the mate and tea market size in Vietnam is forecasted to reach 120.2 Thousand Metric Tons, with a 5-year forecasted CAGR of 1.27% and an overall forecasted growth rate of 6.49%. Future trends to watch for include increasing consumer health consciousness, potential market expansion for premium and specialty teas, and the influence of sustainable and ethical sourcing practices on consumer preferences and market dynamics.
