The Australian Trade and Investment Commission (Austrade) supported Australian wine exporters and producers to expand awareness of Australian wine and strengthen trade partnerships in the northern economic corridor of Ha Noi – Hai Phong – Quang Ninh via the Australia Wine Promotion Roadshow in May 2024.
The Vietnamese wine market represents a significant opportunity for Australian exporters and producers. Currently, among the 1,000 plus wine brands in Vietnam, there are about 200 from Australia. In 2023, Vietnam purchased AUD 11.4 million of wine from Australia, an increase of 152.8% from 2019 (pre-pandemic period). As the 4th largest wine market in Southeast Asia, Vietnamese market growth is anticipated to progress at a CAGR of 10.93% in terms of revenue and 6.29% in terms of volume during the forecast period, 2023-2030.
Vietnam’s rising middle class will also drive consumption growth, with total retail sales value expected to increase at a CAGR of 6.4% from 2021 to 2027, reaching USD167 bn. Vietnam’s middle class of 15%, in a population of over 100 million, is expected to double by 2026 – offering more possibilities for increased wine consumption.
Mr Chris Morley, Trade and Investment Commissioner, Austrade highlighted: “Australia is one of the world’s largest wine exporters and is increasingly recognised as a world leader of producing premium quality wines. We have witnessed the outstanding growth of Australian wine in Vietnam over recent years. The growing demand from the retail and foodservice sectors sees Vietnam attracting more Australian wineries.”
In 2023, the Shine and Thrive regional showcase, hosted by Austrade in Hanoi, Danang, Hoi An, Ho Chi Minh, Can Tho and Nha Trang connected more than 1,000 Vietnamese participants with 150 Australian food and beverage representatives, of which 27 were wine companies. To date, there have been a range of commercial outcomes including deals for Anderson Hill, Firsthand Vintners, Knappstein, Metala and St Anne’s.
Continuing from that success, Austrade organised the Australia Wine Promotion Roadshow 2024 in northern Vietnam, focusing on the economic growth corridor extending from Hanoi.
Hai Phong is the biggest port city of Northern Vietnam, the third-largest city after Ho Chi Minh and Hanoi, and one of the most important industrial hubs of the country. Over the past five years, it has been one of the fastest-growing cities in terms of GRDP across Vietnam.
Boasting abundant potential for tourism development, Ha Long has long been an ideal destination for holidaymakers. In recent years, the number of tourists visiting Ha Long Bay has increased dramatically, making it one of the most visited attractions in the country.
After two years of the pandemic, entertainment venues and events have stimulated the demand of the beverage industry. Additionally, tourism plays an important role in the sector’s economic recovery, especially as tourists from Europe and North America have a drinking culture that positively impacts the Vietnamese liquor industry.
“Austrade organised a series of events in these strategic cities to promote Australian wine to northern consumers and distributors, featuring five Australian wineries: Anderson Hill, De Bortoli, Grandeur Wellington, Killibinbin (wine brand of Metala) and Wakefield,” Mr Morley emphasised.
The B2B wine tasting events in Ha Long and Hai Phong attracted over 150 distributors, importers, retailers and representatives from foodservice and hospitality sectors. The program also introduced to Vietnamese consumers the diverse wine ranges and the harmonious combination between Australian wine and Vietnamese cuisine, via the Wine Dinner at KOTO with special menu by Australian Masterchef competitor Tommy Pham, and the unique Taste of Australia Wine Trail offering free taster of five select Australian wineries at five Hoan Kiem district’s restaurants and bars.