The export volume of alcoholic beverages in Vietnam has seen a steady decline from 2014 to 2023. The volume stood at 62.0 thousand metric tons in 2023, following a 7.46% year-on-year decrease. Over the last two years, the export volume has declined steadily, showcasing a consistent downward trend of around 7-8% annually. The Compound Annual Growth Rate (CAGR) for the last five years is -6.33%, indicating a persistent decline over the period.
Key trends over the broader timeline highlight a substantial contraction, with notable drops such as -26.77% in 2017 and smaller fluctuations in the subsequent years. As of 2023, the forecast for the next five years predicts a continued decrease with a forecasted 5-year CAGR of -9.73%. By 2028, the expected total decline is approximately 40.07%, suggesting a further significant reduction in export volume.
Future trends to watch for:
- Potential market diversification efforts by Vietnamese exporters or shifts in production strategies.
- Changes in global demand for Vietnamese alcoholic beverages, including shifts in consumer preferences or international trade policies.
- The impact of potential governmental regulations or economic conditions on the production and export of alcoholic beverages.