Vietnam Bottled Water Market, By Product Type (Still Bottled Water, Carbonated Bottled Water, Others), By Stock Keeping Units (Less than 1L, 1L-2L, More than 2L), By Packaging Material (Plastic, Glasses, Others), By End-User (Individual and Commercial), By Region, Competition Forecast and Opportunities, 2028F

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Summary

Report Description

Forecast Period

2024-2028

Market Size (2022)

USD760 Million

CAGR (2023-2028)

6.8%

Fastest Growing Segment

Still Bottled Water

Largest Market

North Vietnam

Market Overview

Vietnam bottled water market has valued at USD760 million in 2022 and is anticipated to project robust growth in the forecast period with a CAGR of 6.81% through 2028. The Vietnam bottled water market has witnessed significant expansion, driven by urbanization, health trends, and convenience. Local and international brands compete in offering various packaging sizes and water types to cater to diverse consumer preferences. The increasing middle class and tourism contribute to sustained demand. Regulatory standards and environmental concerns about plastic waste pose challenges, encouraging shifts towards eco-friendly packaging and purification technologies. As the market evolves, innovative marketing strategies and distribution networks play pivotal roles in capturing consumer attention and loyalty.

Key Market Drivers

Health Consciousness

Health consciousness refers to the increasing awareness and concern that individuals have about their physical well-being and the impact of their lifestyle choices on their health. In the context of the bottled water market, health consciousness plays a significant role in driving consumer preferences and decisions. Consumers are increasingly concerned about the quality and safety of the water they consume. Bottled water is often perceived as a safer option compared to tap water, especially in regions with water quality issues. Health-conscious individuals are wary of waterborne diseases caused by contaminated water sources. Bottled water provides a reliable and convenient way to reduce the risk of such diseases. Some bottled water products are marketed as containing essential minerals or added nutrients, appealing to health-conscious consumers seeking extra benefits from their hydration choice.

Increasing Tourism

Tourism plays a significant role in various aspects of a country's economy and culture. In the context of Vietnam's bottled water market. The influx of tourists creates a higher demand for bottled water due to travelers seeking convenient and safe hydration options. Tourists come from various regions with different water quality standards, often preferring bottled water as a reliable choice. Travelers may be wary of local tap water quality and opt for bottled water to avoid potential health risks in an unfamiliar environment. Bottled water is a portable and accessible option for tourists exploring new places, allowing them to stay hydrated without dependence on local water sources. Awareness of cultural norms and environmental practices, including water usage, can lead tourists to prefer bottled water. Tourism contributes to the economy, and the demand for bottled water by tourists supports the growth of the bottled water market. International tourists can introduce local bottled water brands to a global audience, impacting brand recognition beyond domestic markets.

Perceived Water Quality

Perceived water quality refers to the subjective assessment and belief individuals hold regarding the cleanliness, safety, and purity of the water they consume. Bottled water is often perceived as a safer option than tap water due to concerns about contaminants or pollutants, especially in regions with water quality issues. Consumers seeking healthier choices are more likely to opt for bottled water based on the assumption that it meets higher quality standards. Bottled water's sealed packaging reinforces the idea of freshness and uncontaminated water, enhancing its perceived quality. Brands that communicate transparency in sourcing, purification processes, and testing can boost consumer confidence in the water's quality. Brands often emphasize the purity and quality of their water through labeling, advertising, and endorsements by health experts.

Packaging Diversity

Packaging diversity in the context of the bottled water market refers to the wide range of packaging options and formats that brands offer to cater to different consumer preferences and needs. Brands provide packaging options that suit various occasions and settings, from small bottles for on-the-go to larger ones for home consumption. Smaller bottles with ergonomic designs are favored by consumers looking for easy carrying during activities like sports, travel, or work. Larger bottles are ideal for families or shared spaces, emphasizing convenience and reducing the need for frequent refills. Brands offering eco-friendly packaging, such as reusable bottles or recyclable materials, attract environmentally conscious consumers. Brands introduce limited-edition packaging, themed bottles, or customizable labels, appealing to collectors or consumers seeking personalization. Unique and eye-catching packaging serves as a marketing tool, grabbing consumers' attention and driving brand recognition. In the Vietnam bottled water market, packaging diversity is an essential strategy for brands to differentiate themselves, capture consumer attention, and cater to a diverse range of preferences. Brands that understand and respond to the varying needs of consumers through innovative packaging solutions can gain a competitive edge and enhance their market share.

 

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Key Market Challenges

Environmental Concerns

Environmental concerns in the bottled water industry pertain to the negative impacts of plastic waste and other environmental issues associated with the production, consumption, and disposal of bottled water. Single-use plastic bottles contribute to plastic pollution, harming ecosystems, marine life, and waterways. Proper disposal and recycling infrastructure are often lacking. The disposal of plastic bottles poses challenges for waste management systems, leading to littering and overflowing landfills. The production of plastic bottles requires significant amounts of fossil fuels and water resources, contributing to carbon emissions and water stress. Inadequate recycling rates for plastic bottles exacerbate the environmental impact, as a large portion of plastic waste ends up in the environment. The breakdown of plastic bottles over time results in the release of microplastics into the environment, with potential ecological and health consequences. The industry is exploring alternatives like biodegradable materials, compostable packaging, and refillable containers to mitigate plastic waste.

Counterfeit and Imitation

Counterfeit or imitation bottled water products can damage the reputation of established brands if consumers mistakenly associate poor quality with the legitimate product. Imitation products may not meet safety and quality standards, posing health risks to consumers who believe they are purchasing genuine bottled water. Counterfeit products can lead to revenue loss for legitimate brands, as consumers opt for cheaper counterfeit options or lose trust in the genuine product. Brands investing in product development, branding, and labeling could face intellectual property infringement issues when counterfeiters copy their designs. Counterfeit products often lack proper labeling, safety information, and regulatory compliance, violating industry standards. Instances of counterfeit bottled water erode consumer confidence in the market, impacting overall industry growth.

Regulation and Compliance

Regulatory bodies set standards for the quality and safety of bottled water, including limits for contaminants, minerals, and microorganisms. Regulations dictate the information that must be included on labels, such as source identification, expiration dates, nutritional content, and contact information. Regulations may specify acceptable materials and designs for packaging, ensuring that bottles are safe for consumers and the environment. Bottled water producers often require licenses or permits to operate, ensuring compliance with industry-specific regulations. Regulations govern the accuracy of advertising claims related to health benefits and product attributes, preventing misleading information. Regulations cover production facility cleanliness, sanitation practices, and worker hygiene to prevent contamination.

Key Market Trends

Sustainability and Eco-Friendly Packaging

Brands are adopting packaging alternatives that reduce the reliance on single-use plastic bottles, such as using biodegradable materials, compostable packaging, or recycled plastics. Some companies are introducing refill stations or programs where consumers can refill their bottles with purified water, reducing the need for new packaging. Brands are actively promoting and participating in recycling initiatives to ensure that their plastic bottles are properly recycled after use. Simplified packaging designs with less material usage are becoming popular, minimizing the environmental impact while maintaining product integrity. Brands are exploring innovative materials like plant-based plastics or glass to create more sustainable packaging options. Companies are aiming to reduce the carbon footprint associated with production and transportation by optimizing supply chains and distribution networks. In the context of the Vietnam bottled water market, sustainability and eco-friendly packaging are likely to be key drivers of consumer choice, especially as environmental awareness continues to grow. Brands that proactively address these concerns by implementing sustainable packaging practices can not only contribute positively to the environment but also establish a competitive advantage in a market where consumers value responsible consumption.

Functional and Enhanced Waters

Functional and enhanced waters can offer a range of benefits, such as added vitamins, minerals, electrolytes, antioxidants, probiotics, or natural flavors. Consumers seeking healthier beverage options are drawn to functional waters that align with their health and wellness goals. Brands are formulating functional waters to address specific health concerns, such as immunity support, hydration during exercise, or mental clarity. Consumers find it convenient to obtain additional nutrients while staying hydrated through a single beverage. Younger generations are often interested in innovative and functional products that offer unique experiences and benefits. Enhanced waters with electrolytes and minerals cater to athletes and fitness enthusiasts looking for optimal hydration. In the Vietnam bottled water market, functional and enhanced waters can cater to a diverse consumer base with varying health and wellness preferences. Brands that offer clear information about the benefits of their products and focus on high-quality ingredients are likely to capture the attention of health-conscious consumers. However, it's important for brands to ensure that any health claims made on packaging or marketing materials are supported by scientific evidence and comply with regulatory standards.

Online Retail and E-commerce

Online retail and e-commerce have become increasingly influential in various industries, including the bottled water market. This trend is driven by changing consumer behavior, technological advancements, and the convenience of digital shopping. Online platforms provide consumers with the convenience of purchasing bottled water from the comfort of their homes, saving time and effort. E-commerce allows consumers to explore a broader range of bottled water brands, flavors, and packaging options that may not be readily available in physical stores. Brands offer subscription services, delivering bottled water at regular intervals, catering to consumers who prefer a consistent supply. Online retailers often offer bundle deals and discounts, encouraging consumers to purchase larger quantities of bottled water. Consumers can easily compare prices, reviews, and product information across different brands and retailers before making a purchase. Online platforms allow consumers to research brands and make informed choices based on factors like sustainability and ethical practices.

Water Quality and Purity Assurance

Brands adhere to strict quality standards and regulations to ensure that their bottled water meets or exceeds safety and purity requirements. Brands provide information about the source of their water, emphasizing natural springs, purified sources, or advanced filtration methods. Brands communicate the methods used to purify and treat the water, such as reverse osmosis, distillation, or UV treatment. Many brands subject their water to third-party testing to validate its safety and quality, instilling consumer trust. Transparent supply chains and traceability measures help ensure that water quality is maintained from source to bottling. Brands implement batch tracking systems to quickly identify and address any quality issues that may arise. Brands ensure that packaging is tamper-proof and airtight to prevent contamination before consumption. In the Vietnam bottled water market, water quality and purity assurance are critical due to consumer concerns about tap water safety. Brands that invest in rigorous testing, transparent communication, and adherence to established standards can build a strong reputation for providing safe and pure drinking water. This can be a key factor in gaining consumer loyalty in a market where health-consciousness and trust are vital considerations.

Segmental Insights

Data Type Insights

With a 22.5% market share in 2022, the still bottled water segment led the Vietnam bottled water market and is predicted to continue expanding over the coming years. Consumers seeking healthy beverage options often prefer still bottled water due to its simplicity and lack of added sugars or artificial additives. With increasing awareness about the importance of hydration for overall well-being, still bottled water is viewed as a convenient and essential choice. Still water provides a clear medium for consumers who want to experience the natural taste of water without any flavour enhancements or additives. Still water provides a clear medium for consumers who want to experience the natural taste of water without any flavor enhancements or additives.

Packaging Material Type Insights

Plastic bottled water was indeed a significant and growing segment in the Vietnam bottled water market. Plastic bottled water offers convenient on-the-go hydration, making it a popular choice for busy lifestyles. Plastic bottled water is widely available in various retail outlets, making it easily accessible to consumers across different regions. Many consumers prefer the familiar packaging and convenience of plastic bottles for their daily water intake. Brands offer plastic bottled water in a range of sizes, catering to different consumption needs and preferences. Plastic bottled water often features eye-catching labels and designs that enhance brand visibility and recognition.


Regional Insights

The North Vietnam region has established itself as the leader in the Vietnam bottled water market with a significant revenue share of 30% in 2022. This dominance is expected to continue over the forecast period due to the densely populated, with major cities like Hanoi and Hai Phong experiencing significant urbanization. This urban population drives the demand for convenient and accessible bottled water. The region's economic growth and rising disposable incomes have led to increased consumer spending, including on bottled water for daily hydration. North Vietnam is a popular tourist destination, attracting domestic and international travelers who contribute to the demand for bottled water.

Recent Developments

  • In August 2022, Vikoda, launched a new alkaline water product with a pH of 9.0 to optimize health benefits and meet rising consumer demands for natural beverages.
  • In February 2020, La Vie Co., Ltd. has launched natural mineral water in glass bottles and invested in resources to ensure empty bottles are collected and completely recycled to minimise the impact on the environment.

Key Market Players

  • 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)
  • Rita Foods & Drinks Co., Ltd.
  • Asia Food & Beverage Co., Ltd.

 By Product Type

 By Stock Keeping Units

By Packaging Material

By End User

By Region

·         Still Bottled Water

·         Carbonated Bottled Water

•       Less than 1L

•       1L-2L

•       More than 2L

•       Bottles

•       Barrels

•       Glasses

•       Individual

•       Commercial

•       North Vietnam

•       Central Vietnam

•       South Vietnam

Report Scope:

In this report, the Vietnam Bottled Water Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

  • Vietnam Bottled Water Market, By Product Type

o   Still Bottled Water

o   Carbonated Bottled Water

  • Vietnam Bottled Water Market, By Stock Keeping Units:

o   Less than 1L

o   1L-2L

o   More than 2L

  • Vietnam Bottled Water Market, By Packaging Material:

o   Bottles

o   Barrels

o   Glasses

  • Vietnam Bottled Water Market, By End-User:

o   Individual

o   Commercial

  • Vietnam Bottled Water Market, By Region:

o   North Vietnam

o   Central Vietnam

o   South Vietnam

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Vietnam Bottled Water Market.

Available Customizations:

Vietnam Bottled Water Market report with the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

Vietnam Bottled Water Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1.    Introduction

1.1.  Market Overview

1.2.  Key Highlights of the Report

1.3.  Market Coverage

1.4.  Market Segments Covered

1.5.  Research Tenure Considered

2.    Research Methodology

2.1.  Objective of the Study

2.2.  Baseline Methodology

2.3.  Key Industry Partners

2.4.  Major Association and Secondary Sources

2.5.  Forecasting Methodology

2.6.  Data Triangulation & Validation

2.7.  Assumptions and Limitations

3.    Executive Summary      

3.1.  Market Overview

3.2.  Market Forecast

3.3.  Key Regions

3.4.  Key Segments

4.    Voice of Customer Analysis (B2C Model Analysis)

4.1.  Sample Size Determination

4.2.  Respondent Demographics

4.2.1.    By Gender

4.2.2.    By Age

4.2.3.    By Occupation

4.3.  Brand Awareness

4.4.  Factors Influencing Purchase Decision

4.5.  Brand Satisfaction

4.6.  Challenges Faced Post Purchase

5.    Vietnam Bottled Water Market Outlook

5.1.  Market Size & Forecast

5.1.1.    By Value        

5.2.  Market Share & Forecast

5.2.1.    By Product Type Market Share Analysis (Still Bottled Water, Carbonated Bottled Water, Others)

5.2.2.    By Stock Keeping Units Market Share Analysis (Less than 1L, 1L-2L, More than 2L)

5.2.3.    By Packaging Material Market Share Analysis (Plastic, Glasses, Others)

5.2.4.    By End-User Market Share Analysis (Individual and Commercial)

5.2.5.    By Regional Market Share Analysis

5.2.5.1.        North Vietnam Region Market Analysis

5.2.5.2.        South Vietnam Region Market Analysis

5.2.5.3.        Central Vietnam Region Market Analysis

5.3.  Vietnam Bottled Water Market Mapping & Opportunity Assessment

5.3.1.    By Stock Keeping Units Market Mapping & Opportunity Assessment

5.3.2.    By Packaging Material Mapping & Opportunity Assessment

5.3.3.    By End-User Market Mapping & Opportunity Assessment

5.3.4.    By Regional Market Mapping & Opportunity Assessment

6.    Vietnam Still Bottled Water Market Outlook

6.1.  Market Size & Forecast

6.1.1.    By Value        

6.2.  Market Share & Forecast

6.2.1.    By Stock Keeping Units Market Share Analysis

6.2.2.    By Packaging Market Share Analysis

6.2.3.    By End-User Market Share Analysis

7.    Vietnam Carbonated Bottled Water Market Outlook

7.1.  Market Size & Forecast

7.1.1.    By Value        

7.2.  Market Share & Forecast

7.2.1.    By Stock Keeping Units Market Share Analysis

7.2.2.    By Packaging Market Share Analysis

7.2.3.    By End-User Market Share Analysis

8.    Market Dynamics

8.1.  Drivers

8.2.  Challenges

9.    Impact of COVID-19 on Vietnam Bottled Waters Market

9.1.1.    Impact Assessment Model   

9.1.2.    Key Segments Impacted

9.1.3.    Key Regions Impacted

10. Market Trends & Developments

11. SWOT Analysis

11.1.   Strength

11.2.   Weakness

11.3.   Opportunities

11.4.   Threats

12. Porter’s Five Forces Model

12.1.   Competition Landscape

12.2.   Buyer Power

12.3.   Supplier Power

12.4.   Threat of New Entrants

12.5.   Threat of Substitutes

13. Vietnam Economic Profile

14. Policy & Regulatory Landscape

15. Competitive Landscape

15.1.   Company Profiles

15.1.1. Suntory PepsiCo Vietnam Beverage Company Ltd.

15.1.1.1.     Company Details

15.1.1.2.     Products & Services

15.1.1.3.     Financial (As Reported)

15.1.1.4.     Key Market Focus & Geographical Presence

15.1.1.5.     Recent Development

15.1.1.6.     Key Management Personnel

15.1.2. La Vie Vietnam Ltd.

15.1.2.1.     Company Details

15.1.2.2.     Products & Services

15.1.2.3.     Financial (As Reported)

15.1.2.4.     Key Market Focus & Geographical Presence

15.1.2.5.     Recent Development

15.1.2.6.     Key Management Personnel

15.1.3. Coca-Cola Beverages Vietnam Ltd.

15.1.3.1.     Company Details

15.1.3.2.     Products & Services

15.1.3.3.     Financial (As Reported)

15.1.3.4.     Key Market Focus & Geographical Presence

15.1.3.5.     Recent Development

15.1.3.6.     Key Management Personnel

15.1.4. Vinh Hao Mineral Water Joint Stock Company

15.1.4.1.     Company Details

15.1.4.2.     Products & Services

15.1.4.3.     Financial (As Reported)

15.1.4.4.     Key Market Focus & Geographical Presence

15.1.4.5.     Recent Development

15.1.4.6.     Key Management Personnel

15.1.5. Sai Gon Beverage Co., Ltd (SAPUWA)

15.1.5.1.     Company Details

15.1.5.2.     Products & Services

15.1.5.3.     Financial (As Reported)

15.1.5.4.     Key Market Focus & Geographical Presence

15.1.5.5.     Recent Development

15.1.5.6.     Key Management Personnel

15.1.6. Nam Viet Food & Beverages Co. Ltd.

15.1.6.1.     Company Details

15.1.6.2.     Products & Services

15.1.6.3.     Financial (As Reported)

15.1.6.4.     Key Market Focus & Geographical Presence

15.1.6.5.     Recent Development

15.1.6.6.     Key Management Personnel

15.1.7. Quang Ninh Mineral Water JSC

15.1.7.1.     Company Details

15.1.7.2.     Products & Services

15.1.7.3.     Financial (As Reported)

15.1.7.4.     Key Market Focus & Geographical Presence

15.1.7.5.     Recent Development

15.1.7.6.     Key Management Personnel

15.1.8. Tan Quang Minh Manufacturing and Trading Company Ltd. (BIDRICO)

15.1.8.1.     Company Details

15.1.8.2.     Products & Services

15.1.8.3.     Financial (As Reported)

15.1.8.4.     Key Market Focus & Geographical Presence

15.1.8.5.     Recent Development

15.1.8.6.     Key Management Personnel

15.1.9. Rita Foods & Drinks Co., Ltd.

15.1.9.1.     Company Details

15.1.9.2.     Products & Services

15.1.9.3.     Financial (As Reported)

15.1.9.4.     Key Market Focus & Geographical Presence

15.1.9.5.     Recent Development

15.1.9.6.     Key Management Personnel

15.1.10.              Asia Food & Beverage Co., Ltd.

15.1.10.1.  Company Details

15.1.10.2.  Products & Services

15.1.10.3.  Financial (As Reported)

15.1.10.4.  Key Market Focus & Geographical Presence

15.1.10.5.  Recent Development

15.1.10.6.  Key Management Personnel

16. Strategic Recommendations/Action Plan

16.1.   Key Focus Areas

16.2.   Target Regions

16.3.   Target Type

17. About Us & Disclaimer

Figures and Tables

Frequently asked questions

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The market size of the Vietnam bottled water market was estimated to be USD760 million in 2022.

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In FY2022, Wall Board was the dominating segment by product type in India Gypsum Board market and accounted for a share of 47.29% owing to the wide acceptance of wallboards as a substitute to plaster and lath. Also, the increasing demand for sustainable construction and the growing number of commercial construction projects are further accelerating the demand for this segment.

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North Vietnam, including major cities like Hanoi and Hai Phong, has a densely populated and urbanized region. Urbanization often leads to increased demand for convenient and readily available bottled water. The northern region of Vietnam has experienced economic growth, resulting in higher disposable incomes. This economic progress contributes to increased consumer spending on products like bottled water. Rising health consciousness among consumers has led to an increased preference for safe and clean drinking water. Bottled water aligns with health and wellness trends.

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Drivers of Vietnam's bottled water market include health awareness, urbanization, tourism, economic growth, convenient hydration solutions, environmental concerns, and evolving consumer lifestyles, contributing to its continuous expansion.

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Account Manager BD
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Vietnam Bottled Water Market is Fueled by Still Bottled Water During the Forecast Period

Sep, 2023

Rising urbanization, health consciousness, and convenience are factors driving the Vietnam bottled water market in the forecast period 2024-2028.

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