PUBLISHER: Grand View Research | PRODUCT CODE: 2017732
PUBLISHER: Grand View Research | PRODUCT CODE: 2017732
Vietnam Carbonated Soft Drinks Market Size, Share & Trends Analysis Report By Packaging, By Distribution Channel, And Segment Forecasts, 2026 - 2033
Vietnam Carbonated Soft Drinks Market Summary
The Vietnam carbonated soft drinks market size was estimated at USD 3,377.2 million in 2025 and is projected to reach USD 5,854.1 million in 2033, growing at a CAGR of 7.1% from 2026 to 2033. One of the primary drivers of the carbonated segment within Vietnam's broader soft drink market is the sustained recovery and growth in consumer demand following the pandemic.
Increasing disposable incomes and a growing middle class have boosted discretionary spending, making carbonated drinks a staple indulgence for Vietnamese households. In 2024, total soft drink sales across all categories (including carbonated drinks) were higher than in 2022. Carbonated beverages alone accounted for a significant share of this figure, indicating a moderate but stable growth trajectory in consumer uptake of fizzy drinks. This recovery reflects broader improvements in mobility, outdoor activities, and social lifestyle patterns among the Vietnamese population as pandemic restrictions eased, leading to increased occasions for consumption such as social gatherings, commuting, and leisure pursuits.
One of the most significant market drivers is the country's rapid urbanization and economic growth, which has expanded consumer spending power and modern lifestyle adoption. As Vietnam's GDP and urban middle-class population expand, more consumers, particularly in cities, are allocating disposable income toward lifestyle goods, including branded beverages such as carbonated soft drinks. This trend has been underpinned by increased employment in urban centers, modern retail expansion, and higher household incomes, all contributing to greater consumption of convenience beverages.
Urban centers such as Ho Chi Minh City and Hanoi provide concentrated markets where young professionals and students increasingly adopt Western-style beverage preferences, which include cola and flavored soda products. Urbanization trends and higher per-capita spending on lifestyle and convenience products have encouraged major beverage companies to intensify their focus on carbonated portfolios.
For instance, Suntory PepsiCo Vietnam has been localizing its 7-Up portfolio with 7-Up Soda Chanh/7-Up No Sugar Lemon Soda, a zero-sugar, vitamin C-infused lemon soda tailored to Vietnamese taste preferences. Although first rolled out around 2023-2024, this product has continued to be marketed actively as part of healthier carbonated options that resonate with local consumer culture (e.g., traditional soda chanh tastes).
The growth of modern retail formats, notably supermarkets, hypermarkets, and convenience stores, combined with the rising penetration of e-commerce platforms, has expanded the reach of carbonated soft drinks beyond traditional grocery outlets. E-commerce channels have become especially significant for reaching middle-income and digitally engaged consumers. Brands that leverage online retailing can penetrate secondary cities and even rural markets more effectively than traditional channels alone.
Increasing awareness of health issues related to high sugar consumption, including obesity and diabetes, has reshaped product preferences. Beverage companies have responded by broadening their non-sugar and low-sugar carbonated offerings. For example, globally recognized variants such as Coca-Cola Zero Sugar and Pepsi Zero Calories have been introduced locally to align with shifting consumer health preferences. A gradual uptick in reduced-sugar carbonated beverages has also been observed in consumption data, with such SKUs accounting for a growing share of total sales over recent years.
Consumer and regulatory emphasis on environmental sustainability is prompting beverage companies to adopt eco-friendly packaging practices (for example, higher recycled content in PET bottles). These moves are reinforced by brand campaigns urging recycling behaviors among consumers. In late 2024, Suntory PepsiCo Vietnam introduced a new beverage called -196, marking a notable product innovation in the Vietnamese beverage industry. This launch aimed to offer consumers a unique sensory experience inspired by international product trends, helping diversify the local soft drink portfolio and strengthen the company's footprint in Vietnam's fast-moving consumer goods market.
The carbonated soft drinks segment is enjoying robust momentum within the soft drink market in Vietnam, propelled by a rising middle-class that increasingly seeks convenient, on-the-go refreshment options. Urbanization and the proliferation of modern retail channels, such as convenience stores, hyper-markets, and e-commerce platforms, have expanded distribution reach, while younger consumers gravitate toward flavored, low-calorie, and functional variants that align with health-conscious lifestyles. Beyond demographic shifts, macroeconomic factors are energizing the broader Vietnam beverage market. Steady GDP growth, rising disposable incomes, and an expanding tourism sector are lifting overall demand for non-alcoholic drinks, encouraging both multinational and domestic players to invest in capacity upgrades and sustainable packaging solutions.
Vietnam Carbonated Soft Drinks Market Report Segmentation
This report forecasts revenue growth at country levels and provides an analysis of the latest trends and opportunities in each of the sub-segments from 2021 to 2033. For this study, Grand View Research has segmented the Vietnam carbonated soft drinks market based on packaging and distribution channel:
- Packaging Outlook (Volume, Metric Tons; Revenue, USD Million, 2021 - 2033)
- PET Bottles
- Glass Bottles
- Boxed/Cartons
- Tetra Packs
- Cans & Flexible Packaging
- Distribution Channel Outlook (Volume, Metric Tons; Revenue, USD Million, 2021 - 2033)
- Hypermarkets & Supermarkets
- Mom & Pop Stores
- Online
- Others
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation & Scope
- 1.2. Market Definition
- 1.3. Information Procurement
- 1.3.1. Purchased Database
- 1.3.2. GVR's Internal Database
- 1.3.3. Secondary Sources & Third-Party Perspectives
- 1.3.4. Primary Research
- 1.4. Information Analysis
- 1.4.1. Data Analysis Models
- 1.5. Market & Data Visualization
- 1.6. Data Validation & Publishing
Chapter 2. Executive Summary
- 2.1. Market Outlook
- 2.2. Packaging Outlook
- 2.3. Distribution Channel Outlook
Chapter 3. Vietnam Carbonated Soft Drinks Market Variables, Trends & Scope
- 3.1. Market Introduction
- 3.2. Penetration and Growth Prospect Mapping
- 3.3. Industry Value Chain Analysis
- 3.3.1. Sales/Retail Channel Analysis
- 3.4. Market Dynamics
- 3.4.1. Market Driver Analysis
- 3.4.2. Market Restraint Analysis
- 3.4.3. Industry Challenges
- 3.4.4. Industry Opportunities
- 3.5. Business Environment Analysis
- 3.5.1. Industry Analysis - Porter's
- 3.6. Market Entry Strategies
Chapter 4. Consumer Behavior Analysis
- 4.1. Consumer Trends and Preferences
- 4.2. Factors Affecting Buying Decision
- 4.3. Consumer Product Adoption
- 4.4. Observations & Recommendations
Chapter 5. Vietnam Carbonated Soft Drinks Market: Packaging Estimates & Trend Analysis
- 5.1. Vietnam Carbonated Soft Drinks Market, by Packaging: Key Takeaways
- 5.2. Packaging Movement Analysis & Market Share, 2025 & 2033
- 5.3. PET Bottles
- 5.3.1. Market estimates and forecast, 2021 - 2033 (USD Million, Metric Tons)
- 5.4. Glass Bottles
- 5.4.1. Market estimates and forecast, 2021 - 2033 (USD Million, Metric Tons)
- 5.5. Boxed/Cartons
- 5.5.1. Market estimates and forecast, 2021 - 2033 (USD Million, Metric Tons)
- 5.6. Tetra Packs
- 5.6.1. Market estimates and forecast, 2021 - 2033 (USD Million, Metric Tons)
- 5.7. Cans & Flexible Packaging
- 5.7.1. Market estimates and forecast, 2021 - 2033 (USD Million, Metric Tons)
Chapter 6. Vietnam Carbonated Soft Drinks Market: Distribution Channel Estimates & Trend Analysis
- 6.1. Vietnam Carbonated Soft Drinks Market, by Distribution Channel: Key Takeaways
- 6.2. Distribution Channel Movement Analysis & Market Share, 2025 & 2033
- 6.3. Hypermarkets & Supermarkets
- 6.3.1. Market estimates and forecast, 2021 - 2033 (USD Million, Metric Tons)
- 6.4. Mom & Pop Stores
- 6.4.1. Market estimates and forecast, 2021 - 2033 (USD Million, Metric Tons)
- 6.5. Online
- 6.5.1. Market estimates and forecast, 2021 - 2033 (USD Million, Metric Tons)
- 6.6. Others
- 6.6.1. Market estimates and forecast, 2021 - 2033 (USD Million, Metric Tons)
Chapter 7. Competitive Analysis
- 7.1. Recent developments & impact analysis, by key market participants
- 7.2. Company Categorization
- 7.3. Participant's Overview
- 7.4. Financial Performance
- 7.5. Product Portfolios
- 7.6. Company Market Share Analysis, 2025 (%)
- 7.7. Company Heat Map Analysis
- 7.8. Strategy Mapping
- 7.9. Company Profiles
- 7.9.1. Suntory PepsiCo Vietnam Beverage Co., Ltd.
- 7.9.1.1. Company Overview
- 7.9.1.2. Financial Performance
- 7.9.1.3. Product Portfolios
- 7.9.1.4. Strategic Initiatives
- 7.9.2. Coca-Cola Beverages Vietnam Co., Ltd.
- 7.9.2.1. Company Overview
- 7.9.2.2. Financial Performance
- 7.9.2.3. Product Portfolios
- 7.9.2.4. Strategic Initiatives
- 7.9.3. Tan Hiep Phat Beverage Group (THP)
- 7.9.3.1. Company Overview
- 7.9.3.2. Financial Performance
- 7.9.3.3. Product Portfolios
- 7.9.3.4. Strategic Initiatives
- 7.9.4. United Richfield Company (URC) Vietnam
- 7.9.4.1. Company Overview
- 7.9.4.2. Financial Performance
- 7.9.4.3. Product Portfolios
- 7.9.4.4. Strategic Initiatives
- 7.9.5. Nestle Vietnam Co., Ltd.
- 7.9.5.1. Company Overview
- 7.9.5.2. Financial Performance
- 7.9.5.3. Product Portfolios
- 7.9.5.4. Strategic Initiatives
- 7.9.6. Masan Consumer Holdings
- 7.9.6.1. Company Overview
- 7.9.6.2. Financial Performance
- 7.9.6.3. Product Portfolios
- 7.9.6.4. Strategic Initiatives
- 7.9.7. RITA Food & Drink Co., Ltd.
- 7.9.7.1. Company Overview
- 7.9.7.2. Financial Performance
- 7.9.7.3. Product Portfolios
- 7.9.7.4. Strategic Initiatives
- 7.9.8. Nawon Beverage Company
- 7.9.8.1. Company Overview
- 7.9.8.2. Financial Performance
- 7.9.8.3. Product Portfolios
- 7.9.8.4. Strategic Initiatives
- 7.9.9. Red Bull (TCPVN)
- 7.9.9.1. Company Overview
- 7.9.9.2. Financial Performance
- 7.9.9.3. Product Portfolios
- 7.9.9.4. Strategic Initiatives
- 7.9.10. Nafoods Group JSC
- 7.9.10.1. Company Overview
- 7.9.10.2. Financial Performance
- 7.9.10.3. Product Portfolios
- 7.9.10.4. Strategic Initiatives
- 7.9.1. Suntory PepsiCo Vietnam Beverage Co., Ltd.
List of Tables
- 1. Vietnam carbonated soft drinks market - Key market driver analysis
- 2. Vietnam carbonated soft drinks market - Key market restraint analysis
- 3. Vietnam carbonated soft drinks market estimates and forecast by packaging, 2021 - 2033 (USD Million, Metric Tons)
- 4. Vietnam carbonated soft drinks market estimates and forecast by distribution channel, 2021 - 2033 (USD Million, Metric Tons)
- 5. Recent developments & impact analysis by key market participants
- 6. Company market share, 2025
- 7. Company heat map analysis
- 8. Companies undergoing key strategies
List of Figures
- 1. Vietnam carbonated soft drinks market segmentation
- 2. Information procurement
- 3. Primary research pattern
- 4. Primary research approaches
- 5. Primary research process
- 6. Market snapshot
- 7. Packaging snapshot
- 8. Distribution channel snapshot
- 9. Competitive landscape snapshot
- 10. Vietnam carbonated soft drinks market size (USD Billion)
- 11. Vietnam carbonated soft drinks market size, 2021 to 2033 (USD Billion)
- 12. Vietnam carbonated soft drinks market: Penetration & growth prospect mapping
- 13. Vietnam carbonated soft drinks market: Value chain analysis
- 14. Vietnam carbonated soft drinks market: Profit margin analysis
- 15. Vietnam carbonated soft drinks market: Market dynamics
- 16. Vietnam carbonated soft drinks market: Porter's five forces analysis
- 17. Factors influencing buying decisions
- 18. Vietnam carbonated soft drinks market: Packaging movement analysis, 2025 & 2033 (%)
- 19. PET Bottles carbonated soft drinks market estimates and forecast, 2021 - 2033 (USD Million, Metric Tons)
- 20. Glass Bottles carbonated soft drinks market estimates and forecast, 2021 - 2033 (USD Million, Metric Tons)
- 21. Boxed/Cartons carbonated soft drinks market estimates and forecast, 2021 - 2033 (USD Million, Metric Tons)
- 22. Tetra Paks carbonated soft drinks market estimates and forecast, 2021 - 2033 (USD Million, Metric Tons)
- 23. Cans & Flexible Packaging carbonated soft drinks market estimates and forecast, 2021 - 2033 (USD Million, Metric Tons)
- 24. Vietnam carbonated soft drinks market: Distribution channel movement analysis, 2025 & 2033 (%)
- 25. Vietnam carbonated soft drinks market estimates and forecast, through hypermarkets & supermarkets, 2021 - 2033 (USD Million, Metric Tons)
- 26. Vietnam carbonated soft drinks market estimates and forecast, through mom & pop stores, 2021 - 2033 (USD Million, Metric Tons)
- 27. Vietnam carbonated soft drinks market estimates and forecast, through online channel, 2021 - 2033 (USD Million, Metric Tons)
- 28. Vietnam carbonated soft drinks market estimates and forecast, through other channels, 2021 - 2033 (USD Million, Metric Tons)
- 29. Key company categorization
- 30. Company market share analysis, 2025
- 31. Strategic framework of Vietnam carbonated soft drinks market
