Scarcity of safe and clean drinking water coupled with rapid economic growth, rising population and growing focus towards health and wellness to drive Vietnam bottled water market through 2025
According to TechSci Research report, “Vietnam Bottled Water Market By Product Type (Still Bottled Water, Carbonated Bottled Water, Flavored Bottled Water, Functional Bottled Water and Others), By Packaging Material (Plastic, Glass and Others), By Pack Size (≤330 ml, 331 ml – 500ml, 501ml – 1000 ml, 1001ml – 1500ml and Greater than 1501ml), By Origin (Domestic Vs. Imported), By Distribution Channel (Supermarket/Hypermarket, Convenience/Drug Store, HORECA, Independent Grocery Stores, E-retailers), By Region (North Vietnam, Central Vietnam and South Vietnam), Competition, Forecast & Opportunities, 2015 – 2025”, Vietnam bottled water market stood at USD 482.53 Million in 2019 and is projected to grow at a CAGR of around 13.49% to reach USD 986.36 million by 2025 on account of deteriorating water quality in many areas of the country, which is resulting in increasing demand for safe and clean drinking water. Moreover, majority of the population remains short of getting access to clean water, owing to rapidly growing population and increasing urbanization rate. Though this demand is partially fulfilled by municipal water supply, it is expected to result in huge demand for bottled water in Vietnam during the forecast period.
Over the past few years, people have become increasingly concerned about their health and hygiene. Owing to rising health risks due to the consumption of contaminated water, awareness among people about the health benefits of clean and safe bottled water is growing in Vietnam. Still mineral bottled water demand is experiencing high year-on-year growth rate in the country. Moreover, young population is becoming more inclined towards functional water, owing to its health benefits due to growing health awareness, and consequently, bottled water business is expected to bloom in Vietnam in the coming years.
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Growing population coupled with increasing urbanization rate in Vietnam is resulting in pressure for the supply of clean and safe drinking water, which is partially fulfilled by municipal water supply, thereby creating an opportunity for still bottled water manufacturers and suppliers to reach the masses. Moreover, water treatment plants are not sufficient to meet the demand for drinking water supply in many areas of Vietnam. Additionally, increasing awareness regarding the health benefits of consuming safe and clean drinking water is anticipated to propel the demand for still bottled water in Vietnam.
Some of the major players operating in Vietnam bottled water market are Suntory PepsiCo Vietnam Beverage Company Ltd., La Vie Vietnam Ltd., Coca-Cola Beverages Vietnam Ltd., Vinh Hao Mineral Water Joint Stock Company, Sai Gon Beverage Co. Ltd (SAPUWA), Nam Viet Food & Beverages Co. Ltd., Quang Ninh Mineral Water JSC, Tan Quang Minh Manufacturing and Trading Company Ltd. (BIDRICO), Asia Food & Beverage Co. Ltd., Rita Foods & Drinks Co. Ltd., etc. Constantly growing demand for bottled water in Vietnam is encouraging the manufacturers to increase their production facility to cater the increasing demand, which is expected to drive the growth of Vietnam bottled water in coming years. For instance, Suntory PepsiCo Vietnam Beverages Ltd. (SPVB) started its new beverage plant at the Dien Nam – Dien Ngoc Industrial Zone in central Quang Nam province’s Dien Ban town. The plant has 10 production lines with a capacity of 850 million liters per year. The plant, which is located on 14 hectares, involved an investment of USD56 million, to capitalize on the growing domestic and export demand.
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“A rise in demand for bottled water has been observed during the pandemic, especially for the bottled drinking water as people were taking more care of their health and avoiding any situation that might make them unwell. Also, during the initial days of pandemic, sales rose due to panic buying, which created short term spike in demand. In addition, companies operating in the bottled water industry have been largely focusing on new product lines such as functional water, flavored water, etc. This rising trend for new product lines apart firm normal drinking water would continue to prevail during the forecast period.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Vietnam Bottled Water Market By Product Type (Still Bottled Water, Carbonated Bottled Water, Flavored Bottled Water, Functional Bottled Water and Others), By Packaging Material (Plastic, Glass and Others), By Pack Size (≤330 ml, 331 ml – 500ml, 501ml – 1000 ml, 1001ml – 1500ml and Greater than 1501ml), By Origin (Domestic Vs. Imported), By Distribution Channel (Supermarket/Hypermarket, Convenience/Drug Store, HORECA, Independent Grocery Stores, E-retailers), By Region (North Vietnam, Central Vietnam and South Vietnam), Competition, Forecast & Opportunities, 2015 – 2025” has evaluated the future growth potential of Vietnam bottled water market and provides statistics and information on market structure, size, share and trends. The report is intended to provide cutting-edge market intelligence and help decision makers to take sound investment decision. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities present in Vietnam bottled water market.
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