Vietnam Coffee Market Size, Trends, Growth Analysis | Key players: DUNKIN DONUTS, NESTLE, STARBUCKS, TRUNG NGUYEN MCCAFE.
The Vietnam coffee market value is expected to witness a growth rate of 8.2% during the forecast period with an average per capita coffee consumption of 1.1 Kg in 2018. In 2016, Nestle Vietnam Ltd. led the coffee sales, with a retail volume share of 27%. According to Vietnam Standards and Consumers Association, in July 2016 30% of coffee products sold in Vietnam contained very little or no caffeine.
Coffee is the most consumed drink that is produced almost in all the developing countries, which include about 17 least developed countries. Coffee producing countries are increasing their domestic consumption. China, Panama, Kenya, Senegal and the United States are considered the most promising markets in the coming years. Vietnam is also among those nations that are supplementing the growth of the coffee market, not only in the Asia Pacific, but also throughout the world.
Increasingly busy lifestyles and longer hours of work will continue to encourage more consumers to switch from ground coffee or instant coffee to instant coffee blends. In addition, the category should also benefit, as manufacturers continue to introduce stronger taste products that are tailored to the traditional preferences of Vietnam consumers. It is also expected that the growing number of coffee consumers in Vietnam will stimulate the market during the forecast period. In addition, other factors such as the availability of a wide range of coffee types, flavorings and styles of preparation, increased urbanization and disposable income, and increased sale are some of the promoting factors for Vietnam coffee market. However, coffee price fluctuations and climate changes can lead to a shortage of supply, restricting the market.
Browse details of research report developed on Vietnam Coffee Market @ https://www.researchcosmos.com/reports/vietnam-coffee-market-growth-trends-and-forecasts-2018-2023/6758990
The domestic coffee market in Vietnam remains fierce, with strong competition from international players such as Dunkin Donuts, Coffee Beans and Tea Leaves, which includes several Korean coffee chains such as Coffee Bene and Coffee House. However, local channels such as Trung Nguyen, Long Phuc, Highlands and some new local players such as Passio, Thuc and Cong Café have their own traditional coffee drinks, which keep the channels afloat in a competitive market. The Post Office is experiencing moderate growth in the domestic coffee market, as the Vietnam coffee market needs more coffee products with added value.
Key Players in Vietnam Coffee Market:
DUNKIN DONUTS, NESTLE, STARBUCKS, TRUNG NGUYEN MCCAFE, and PHUC LONG are the major players operating in the Vietnam market.
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