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Thirty brewers have opened up shop in Vietnam, attracting a steady stream of customers both before and after the outbreak.
Craft beer breweries with operational capacity equivalent to those in Western countries may be found across Vietnam’s Ho Chi Minh City’s Districts 1, 2, and 3. Certainly, Vietnam’s craft beer business is expanding in both size and recognition.
An overview of Vietnam’s beer market
Vietnam’s beer consumption was 2.2 percent of the global market in 2022, at 3.8 million kiloliters per year. As a result, it is the ASEAN region’s beer consumption leader.
Domestic and international brands that dominate the market include Heineken, Carlsberg, Sapporo Breweries, Hanoi Beer Alcohol and Beverage Corp. (Habeco), and Saigon Alcohol Beer and Beverage Corp. (Sabeco).
This is not to suggest there isn’t place for more Vietnamese-made craft beers.
On the contrary, the Vietnamese craft beer business is not only thriving, but it is also infusing the industry with a distinct sense of home.
What makes Vietnam a hot spot for craft beer brewing?
Due to Vietnam’s geographical advantages, craft beer formulas have evolved in a variety of ways.
Vietnam is home to a plethora of spices and fruits, ranging from lemongrass, passion fruit, and beetroot to coffee and cocoa, that have been extensively used in craft beer recipes.
This means that Vietnamese brewers are less reliant on imported ingredients, lowering input costs and allowing for more competitive pricing.
The use of local ingredients has also distinguished Vietnamese craft beer makers from their competitors worldwide.
The 2021 Asia Beer Championship confirmed Vietnam’s leadership in the regional craft beer sector, winning four gold medals, matching Singapore.
The country is also noted for its more relaxed legal climate for craft beer brewers, who are permitted to create small amounts of craft beer. This is in contrast to Thailand, where brewers must produce at least 10,000 litres each year. As a result, many small-scale Thai brewers have relocated to Vietnam, where an output of as little as 1,000 litres is permitted.
There’s also the convenience of shipping craft beer from Vietnam to Thailand. Vietnam is an excellent possibility for brewers wishing to legally make small batches in Vietnam and subsequently ship to Thailand due to its closeness and enhanced logistics.
Changing attitudes towards beer in Vietnam
Another important factor is Vietnam’s well-educated customer base. Generation Z in Vietnam keeps up with global trends, particularly affluent experiences like wine and craft beer tasting. They are keen to learn how their beers are prepared – an on-site experience that is typical among craft beer companies.
Beer is less of a commodity and more of a culture among the younger generations of Vietnamese, who make up the majority of the population.
Drinking to become drunk is no longer the primary reason for drinking alcohol now that ‘taste’ has become popular.
Middle-income consumers are increasingly better informed about food and beverages, and the unique recipes and on-site brewing of domestic craft brews is especially appealing to this new breed of quality conscious consumers.
Potential obstacles to growth in Vietnam’s craft beer industry
However, it is not all good news for Vietnam’s craft beer brewers. On April 23, the government announced Decision 508/QD-TTg, stating that there will be a roadmap for raising the special consumption tax (SCT) on beer and alcoholic beverages by 2030.
This could result in a higher tax rate being imposed on certain alcoholic beverages. Beer currently has an SCT rate of 65%. A greater tax on craft beer will raise prices, causing producers to incur losses.
It may, however, have a trading-up effect: at a higher price, craft beer may be seen as a premium or luxury product, increasing its interpreted worth.
What is the future of Vietnam’s craft beer industry?
Despite the fact that major players such as Sabeco, Habeco, Heineken, and Carlsberg dominate the Vietnamese beer market, craft beer has its own piece of the pie – a slice that is fast expanding.
This is due to the availability of one-of-a-kind product, ideal circumstances for craft beer brewing, and changing views among young Vietnamese. Many people consider Vietnam’s craft beer boom to be a passing fad. However, this is most likely just the beginning.
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