A Payoo spokesperson told VN Express that revenues were likely to increase further in Q2 as the pandemic eases and people become more comfortable eating out. Overall, the non-alcoholic beverage market in the European region is driven by shifts in consumer preferences towards healthier alternatives. IMARC contends that the current growth rate will be sustained and that the market will be worth a huge US$1.55 billion by 2027. Porters five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and streng then their supplierbuyer network. From the newly funded startups to well funded corporate conglomerates almost all the players in the beverage market are striving hard to meet the never-ending desires of the new-age consumers. Vietnamese customers are becoming increasingly willing to pay higher prices for organic foods, environmentally conscious options, and foreign products. Presently, however, Vietnams F&B industry is recovering from the pandemic, which has globally impacted restaurants, cafes, and bars and daily consumption due to restrictions on public movement and open gatherings as well as temporary fiscal restraint shown by many in uncertain economic times. These firms may be more likely to standardize production and guarantee quality while benefiting from economies of scale in areas like e-commerce adoption. While the market size for functional beverages is expected to grow and expand in the upcoming years.
And, by 2030, the size of Vietnams middle class is forecast to hit 95 million. Overall, it is anticipated that these factors could have a positive impact on the market over the coming years and may facilitate key players expansion in new market segments.
Primarily, due to consumer demands for a healthier lifestyle and stringent government regulations for controlling the addition of preservatives; many companies have shifted their focus on organic or natural ingredients. Global spirits consumption will see a moderate rise of 36.5m cases by 2022, equivalent to a CAGR of 0.2%. The figure represents a year-on-year increase though it is 1.79 percent lower than in the first quarter of 2019. A. Non-alcoholic drinks market was valued at $820.0 billion in 2020, and is estimated to reach $2,134.6 billion by 2031. Vijay Ramachandran talks about increasing population dispersion and challenges faced by brands to satisfy a consumer base. As Vietnams middle class grows, and disposable incomes rise across all sectors of the population, greater spending power will further spur demand within the food and beverage industry, particularly eating out.
CBD infused sparkling water, plant-based milk beverages are popular examples under this category. A. For instance, super premium juices, crafted soda, premium hydration, and probiotics are projected to show tremendous growth asthey aid in weight loss, detoxification, provide vitamins & other nutrition supplements, and improve digestion. The following includes a few key highlights from the report: Further regional information on key drivers, opportunities, and strategies can be found in TBRCs Food and Beverages Stores Global Market Report 2022, one of a series of reports from The Business Research Company that provides food and beverages market overviews, analyzes and forecasts food and beverages market size, food and beverages market players, food and beverages market segments and geographies, the markets leading competitors revenues, profiles and market shares. A5. By distributionchannel, specialty storeis the fastest growing segment owing to the increase dinterest in customized products thatoffer more honey-sweetened foods and drinks. On the other hand, the news products such as CBD infused beverages, vegan beverages are in demand as well. Build surgically precise lead lists of your ideal eCommerce customers, Trusted by world's leading eCommerce enablers to research eCommerce companies and reach out to them. Lithuania has the highest per capita consumption of alcohol. The pandemic and accompanying restrictions pushed grocery shopping online in Vietnam. In August 2019, Diageo announced the acquisition of Seedlip, the worlds first distilled non-alcoholic spirits brand as a majority shareholder. It is predicted that 40 percent of Vietnamese people will live in cities in 2025, up from around 20 percent in 1990. A. However, the pace of growth is slowing. Beverage brands have realized that volume is no more the path to profitability in todays marketplace.
Located globally it has specialist consultants in a wide range of industries including manufacturing, healthcare, financial services, chemicals, and technology. We also maintain offices or have alliance partners assisting foreign investors inIndonesia,India,Singapore,The Philippines,Malaysia,Thailand,Italy,Germany, and theUnited States,in addition to practices inBangladeshandRussia. Q4. Uttar Pradesh, India, Email: [emailprotected] What will be the beverage market size by 2026? As of 2020, the average household now has a disposable income of US$4,890, while the per capita disposable income is estimated at US$1,910. Previously, the Carbonated soft drinks (CSD) segment accounted for driving revenue in this region. What is the size of the global beverage market? The largest segment of the non-alcoholic beverage market is soft drinks. Covid-19 saw ride-hailing services like Grab, GoJek, and Bee & Baemin pivot into food and parcel delivery. Inflation will go out of hand. While beer and spirits are mostly consumed categories, consumption of wine and premium alcoholic beverages is becoming popular in recent times. In addition, the increase in obesity rates and the impact of a sedentary lifestyle is making young Americans migrate from CSDs to healthier alternatives. Country-specific eCommerce TAM reports & white papers, Find a comprehensive list of eCommerce companies & DTC brands using '. Despite the setback of the pandemic, Fitch Solutions still expects the countrys disposable incomes to continue on this growth trajectory in the medium term (2020-2024). In-depth analysis, the market size, and segmentation assist to determine the prevailing non-alcoholic drinks market opportunities. Which D2C categories thrive & which ones struggle due to COVID? A survey by WHO states that on average a Lithuanian consumes 15.9 liters of pure alcohol in a year. Which region holds the largest market share in the beverage market? #innovation#ecommerce#technews, The Dichotomy of US consumer goods exports, When the going gets tough, the tough go enterprise, Shopify Product Announcements: Life beyond the long tail. Vietnams food and beverage market was one of the most attractive markets globally (ranked 10th in Asia) in 2019 as per BMI. (With research contribution from Thu Nguyen.). APAC alcoholic beverage market size is of value USD 11.57 billion dollars in the year 2022 and the market is estimated to expand at a CAGR of 4.5%. While low-priced spirits will see their share of the global spirits market fall to just over 50% over the forecast period, premium-and-above spirits will see their share jump from 4.7% to 7.4% during this time, says the IWSR Forecast Report. In addition, governments of many nations have set minimum legal age for purchase of alcohol and have increased the price & tax on alcohol to reduce its consumption. The market was worth US$5.18 billion in 2015 and is expected to be worth US$10.1 billion in 2025. Competitive Rivalry in the Industry, 6. Over time, one would expect larger companies to develop from the food and beverage ecosystem. Changes in lifestyle and consumption habits of the new-age consumers are two major reasons driving this change. Something went wrong while submitting the form. While southern Vietnamese cuisine incorporates bounteous fruit and vegetables, with fresh herbs, seafood, and frequently coconut milk. According to e-wallet player Payoo, sales in Vietnams F&B industry were up 50 percent year-on-year in the first quarter of 2022. Can they compete with top CPGs to get the 'Buy Box' recommendation? Vietnams F&B industry is facing labor shortages and rising costs but is nearing a full recovery after the pandemic. The key players operating in the non-alcoholic drinks market include- A.G. Barr, Dr. Pepper Snapple Group, DydoDrinco, Attitude Drinks, Co., Livewire Energy; Calcol, Inc., Danone, Nestl S.A., PepsiCo, Inc., and the Coca-Cola Company. However, rise in awarenessa bout its effect on health due to its excessive sugar content and unnaturally sweetened flavors hamper the market growth. Vietnam is Asias top beer consumer. Readers may write tovietnam@dezshira.comfor more support on doing business in Vietnam. Soft drinks account for nearly 45.87% and 51.40%, by revenue and volume, respectively, followed by bottled water, and dairy drinks. Can a small business have access to local demand without 'Shop' app? Want insights on the performance of D2C, eCommerce brands in the US & India during COVID lockdowns? By price point, the demand for the premium and luxury drinks has rapidly increased owing to the rise in adoption of premiumization among the consumers. Vietnam is well known for its varied cuisine, which has reached markets around the world, from London to New York, and from Moscow to Johannesburg. Europe is the largest alcoholic beverage market in the world. Moreover, advertisement ban on alcoholic drinks by governments of some nations have reduced the market awareness for alcohol, which has escalated the demand for non-alcoholic drinks. Annual growth between 2020-2025 is forecast to be 5.57 percent per annum versus 8.75 percent per year registered in 2015-2019. How big is the fashion industry and how are the brands distributed by revenue? Hand in hand with the rise of healthy eating is the desire to ensure that food is coming from sustainable sources. Oops! This is deemed another possible driver of online food delivery in the years to come. While Poland and Netherlands would be the following emerging markets showing promising growth rates for the above category. Vietnams F&B industry is characterized by the prevalence of smaller companies. Food from northern Vietnam emphasizes freshwater ingredients, such as fish, mollusks, and crab, due to geographic restrictions on spice growing and cattle rearing. In fact, brands are even looking to tap into this trend by finding synergies between Vietnamese local food culture and healthier market offerings. Your email address will not be published. The non-alcoholic drinks market is segmented based on the product type and geography. Is Headless really the future of D2C brands? Stack launched in 2008 as a magazine club that helps people to discover the best independent publishing, List of Consumer Electronics and Appliances Stores, List of Classifieds and Coupons Companies, List of Business and Industrial Companies, List of Automotive and Vehicles Companies, List of Art, Craft and Collectibles Companies.
Find your favourite beverage brand below. Zara SA, stylized as ZARA, is a Spanish apparel retailer based in Arteixo in Galicia.
Our goal is to help you better understand your customer, market, and competition in order to help drive your business growth. Vietnam has long established itself as a favorable destination for investors wanting to diversify their Asia presence. How do D2C brands think about growth? The countrys digital Dezan Shira & Associates brochure offers a comprehensive overview of the services provided by the firm. Meanwhile, compared to Generation X and Y, Generation Z had higher usage of international platforms, such as Instagram, Tiktok, and Pinterest. Q5. For better delivery of our new release, Please help us undestand your interest Industry and Frequency that you prefer to get the new releases. Home for the majority of the consumers, the APAC region will dominate the world's non-alcoholic beverage market in the upcoming years. Mergers, Acquisitions, Agreements, and Collaborations, 9.5. For instance, Walmart, Kroger, Albertsons, Trader Joes, Whole Foods Market, Target Corp., and Costco all have launched private-label drinks of various beverages categories. The increase in the per capita income and the influence of western culture is bringing change in consumption patterns in this region. Start reading instantly.This Report and over 13,000+ more Reports, Available with Avenue Library. Should arming the rebels be the prerogative of Shopify? In a positive development for the category, standard and above vodka consumption is forecasted to grow by 7.4m cases, at a steady CAGR of 1.6%. Carbonated soft drinks (CSD), a popular segment in this market, have been shrinking in size and revenue in recent years. Tourists spend an average of 23.7 percent of their budget on food and drink while in Vietnam. We can help you with regulatory compliances in the F&B industry, Learn How We Can Help You Enter a New Market, Click to share on Facebook (Opens in new window), Click to share on LinkedIn (Opens in new window), Click to share on Twitter (Opens in new window), Click to share on Reddit (Opens in new window), Click to email a link to a friend (Opens in new window).