The grape market size in Vietnam witnessed significant fluctuations over the years. Starting at 89.0 thousand metric tons in 2014, it peaked at 130.0 thousand metric tons in 2018 with a notable 120.34% year-on-year increase. However, the market then experienced a drop to 115.0 thousand metric tons in 2019, followed by a period of relatively stable growth, reaching 124.0 thousand metric tons in 2023. The Compound Annual Growth Rate (CAGR) over the last five years was slightly negative at -0.94%. The year-on-year growth rate in 2023 stood at 1.64%, reflecting a modest yet promising upward trend compared to previous fluctuations.
Looking forward to 2028, the grape market is forecasted to grow to 134.0 thousand metric tons, representing a forecasted 5-year CAGR of 1.24% and an overall growth rate of 6.35%. This suggests a steady increase, driven by improving agricultural practices and increasing demand.
Future Trends to Watch for:
- Adoption of advanced grape cultivation techniques
- Government policies supporting agricultural growth
- Increase in domestic and international demand for Vietnamese grapes
