Vietnam: Market for Wine Of Fresh Grapes (Except Sparkling Wine) 2024

Market Size for Wine Of Fresh Grapes (Except Sparkling Wine) in Vietnam

The Vietnamese wine of fresh grapes market rose to $X in 2022, increasing by 2.6% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, the total consumption indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +46.3% against 2020 indices. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Exports of Wine Of Fresh Grapes (Except Sparkling Wine)

Exports from Vietnam

In 2022, overseas shipments of wine of fresh grapes (except sparkling wine) increased by 106% to X litres for the first time since 2019, thus ending a two-year declining trend. In general, exports continue to indicate a strong expansion. The most prominent rate of growth was recorded in 2017 when exports increased by 412%. The exports peaked at X litres in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, wine of fresh grapes exports fell rapidly to $X in 2022. Over the period under review, exports, however, continue to indicate a noticeable contraction. The growth pace was the most rapid in 2014 when exports increased by 224% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

France (X litres) was the main destination for wine of fresh grapes exports from Vietnam, accounting for a 95% share of total exports. It was followed by Cambodia (X litres), with a 0.9% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to France totaled +18.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cambodia (-16.0% per year) and Thailand (-28.4% per year).

In value terms, France ($X) emerged as the key foreign market for wine of fresh grapes (except sparkling wine) exports from Vietnam, comprising 79% of total exports. The second position in the ranking was held by Thailand ($X), with a 4% share of total exports.

From 2012 to 2022, the average annual growth rate of value to France stood at +5.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (-27.6% per year) and Cambodia (-17.7% per year).

Export Prices by Country

The average wine of fresh grapes export price stood at $X per litre in 2022, waning by -74.5% against the previous year. In general, the export price recorded a abrupt shrinkage. The pace of growth appeared the most rapid in 2021 an increase of 94%. The export price peaked at $X per litre in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Thailand ($X per litre), while the average price for exports to France ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Thailand (+1.2%), while the prices for the other major destinations experienced a decline.

Imports of Wine Of Fresh Grapes (Except Sparkling Wine)

Imports into Vietnam

In 2022, imports of wine of fresh grapes (except sparkling wine) into Vietnam amounted to X litres, approximately mirroring the year before. Overall, total imports indicated pronounced growth from 2012 to 2022: its volume increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +40.5% against 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by 40% against the previous year. Imports peaked at X litres in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, wine of fresh grapes imports amounted to $X in 2022. Over the period under review, total imports indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +45.6% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 38% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

Italy (X litres), Chile (X litres) and France (X litres) were the main suppliers of wine of fresh grapes imports to Vietnam, together comprising 73% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Italy (with a CAGR of +22.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), France ($X) and Chile ($X) were the largest wine of fresh grapes suppliers to Vietnam, together comprising 75% of total imports.

In terms of the main suppliers, Italy, with a CAGR of +22.7%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average wine of fresh grapes import price stood at $X per litre in 2022, increasing by 5% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.6%. The pace of growth appeared the most rapid in 2018 an increase of 23%. Over the period under review, average import prices hit record highs in 2022 and is likely to see steady growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per litre), while the price for Spain ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by New Zealand (+3.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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