Industry Snapshot 2024
The Wholesales of Beverage sector in Vietnam represents a mix of companies operating under the same classification, each serving different segments of the market. Datagent’s 2024 filings show 5,319 companies registered in this category, with a combined Total Registered Capital of 1,037,444,400 USD.
According to reported submissions, companies in this VSIC generated a Total Operating Revenue of 6,523,972,801 USD in 2024. After adjustments, the sector recorded Total Net Revenue of 6,029,723,183 USD, reflecting a CAGR of -3.1% from 2022.
Profit outcomes varied, with the category posting a Total Gross Profit of 467,384,504 USD and a Total Net Profit for the period of 108,708,607 USD, equivalent to a CAGR of -2.7% compared with 2022. On the balance sheet, the sector held Total Assets of 2,811,603,429 USD, supported by Total Equity of 985,736,807 USD across filing companies.
Industry Characteristics & Operating Landscape
Where do companies in this VSIC typically operate?
Wholesalers of beverages in Vietnam are primarily concentrated in major consumption and logistics hubs, led by Ho Chi Minh City and Hanoi. These cities serve as key distribution centers due to their dense on-trade and off-trade networks, proximity to ports, and strong retail infrastructure.
Beyond the two main metros, secondary clusters are commonly found in:
- Binh Duong & Dong Nai – industrial zones with high workforce density and strong consumption demand
- Da Nang & Khanh Hoa – serving central coastal provinces and tourism-heavy areas
- Can Tho & selected Mekong Delta provinces – acting as regional supply hubs for southern retail channels
This geographic concentration reflects the need for proximity to retailers, restaurants, hotels, supermarkets, and convenience stores, as well as efficient last-mile distribution capability.
What drives demand in this sector?
Demand for beverage wholesalers is shaped by a mix of population growth, urban lifestyles, tourism flows, and retail channel expansion.
- Rising consumption of ready-to-drink beverages, especially beer and soft drinks among younger demographics
- Tourism and hospitality recovery, increasing orders from hotels, restaurants, cafés, and entertainment venues
- Strong B2B reliance from traditional trade (wet market retailers, grocery stores) and HORECA (restaurant, beer garden)
- Seasonality, with spikes around Tet, summer months, and national holidays
- Ongoing urbanization, creating higher per-capita demand in metropolitan and satellite cities
On the regulatory side, stricter requirements around food safety, labeling, and traceability also push manufacturers and retailers to favor more organized and compliant wholesalers.
What defines the operational model?
The wholesale beverage industry is a logistics-intensive, scale-driven business model. Success is largely determined by:
- Distribution network strength and geographical coverage
- Warehouse capacity, cold-storage capability, and fleet management
- Strong relationships with manufacturers and retail channels
- Negotiation power over pricing and margins
- Efficient inventory turnover and working-capital management
Interpreting the 2022-2024 Totals
The recent performance trend reflects a stabilization phase after the post-pandemic rebound, as beverage consumption patterns normalize and competition within modern trade intensifies. Margin dynamics remain under pressure due to increasing bargaining power from large retailers and rising logistics costs, reinforcing the importance of operational discipline. Unlike asset-light service sectors, this industry is structurally dependent on physical infrastructure and distribution capability, making scale efficiency, route coverage, and inventory optimization the primary drivers of sustainable performance.
What This Means for Investors
Despite recent contraction, demand for beverages in Vietnam remains structurally resilient due to population size, urban lifestyles, and stable consumption habits. In a more competitive and margin-pressured environment, wholesalers with strong regional coverage, efficient logistics, and disciplined cost control are likely to be more defensible. Companies able to optimize routes, manage inventory tightly, and adapt to shifting retailer power may be better positioned to outperform peers as the market stabilizes.
About Datagent
Datagent is the trusted intelligence partner for company data and insights across Southeast Asia and beyond. We combine firmographics, financials, macro and micro economics into one integrated dataset — helping organizations uncover opportunities, assess markets, and make smarter, data-backed decisions across 11 dynamic economies.
This report is for informational purposes only and does not constitute financial advice or an invitation to invest. Decisions should be based on independent research and professional consultation to avoid any unintended liabilities.