The wine sector is seen amongst the most interesting sectors in Vietnam and one that presents the most opportunities too. According to figures reported by the UN and Vietnamese customs, the local market is experiencing an average annual growth of 30%, while imports grow annually at a rate of 40%, while the turnover amounted to about 32 million USD in 2009.
There is a growing interest in the country for the product, since imports quadrupled in recent years and the increase was as much as 300% between 2003 and 2008: the main factors for this boom are the country's remarkable economic growth and the emergence of middle class and a high class given in to high class tastes, and lifestyle as well as to Western standards. Above all this, Vietnam has a young population and the local wine producers are unable to offer quality products.
France is the country that dominates the market for Vietnamese exporters, with a share of 44%, followed by Chile (whose market share is around 18%), Australia (14%), United States, Italy (6%), Spain (4%), South Africa (2%) and New Zealand (1%).
Although in recent years the image of wine is more publicized through the opening of specialty shops and other initiatives of this kind the country has a very low level of the product knowledge. At the time of purchase, the consumer checks the country of origin with great interest: considering that made in Italy is very popular and that Italy enjoys preferential treatment, our country would do well to strengthen its position. All these findings suggest that the best time to approach the Vietnamese market is now.