Australian Wine Makes Waves in Vietnam

In recent times, Australian wine has been making quite the splash in Vietnam, an emerging market with a burgeoning appetite for the refined offerings from Down Under. Last year alone, Australian wine sales in Vietnam soared to AUD 11.5 million, a figure that doubles the sales from the previous two years. This upward trend doesn't seem to be slowing down anytime soon, a sentiment echoed by the Australian Ambassador to Vietnam, Mr. Andrew Goledzinowski, at the recent South Australia Wine Connect 2024 gala in Hanoi.

During the event, Ambassador Goledzinowski highlighted that bilateral relations between Australia and Vietnam have significantly strengthened, reaching unprecedented levels. This enhancement in diplomatic ties is paving the way for new opportunities for Australian wine exporters, who can now leverage the esteem and trust that the Vietnamese hold for Australian products.

According to Inkwood Research, the wine market in Vietnam was valued at $347.10 million in 2022 and is expected to surge to $692.27 million by 2030. The volume is projected to hit 24.15 million liters by then. This growth aligns with the increase in disposable incomes in Vietnam, as pointed out by Mr. Nguyen Ba Hai, Vice Director of Investment Promotion at the Center for Industry and Trade of the Vietnam Trade Promotion Agency. Vietnam is proving to be one of the fastest-growing countries globally, with total retail sales of goods and services rising nearly 20% in 2022.

The SA Wine Connect 2024 program wasn't just confined to Hanoi but also made its mark in Ho Chi Minh City, featuring initiatives like buyer visits and Master Class wine-tasting events that were extremely well-received. According to David Dean, president of the South Australia-Vietnam Chamber of Commerce (SA-AVCC), almost 70 wholesalers and retailers attended each of the Master Classes in Ho Chi Minh City and around 300 participated in the tastings, with similar numbers in Hanoi.

Participating wineries included renowned names from various Australian wine regions such as Turkey Flat, First Drop, and Sorby Adams from Barossa; Ottelia Innes, HighBank, Armstrong, and Metala Wines from Coonawarra and Langhorne Creek; Paracombe from Adelaide Hills; Mitolo from McLaren Vale; along with Betty's Choice and Maison Blue wines. These wineries showcased their products to an audience that, according to John Innes of Ottelia Wines, was ideal due to their sophistication and age range, targeting individuals aged 25 and above.

These educational wine programs are, as Ms. Anna Nguyen from Must See in Vietnam pointed out, extremely beneficial for Vietnamese consumers between 25 and 40 years old, who are seeking more sophisticated and high-quality experiences. This sentiment was echoed by her colleague, Mr. Vo Thi Ngoc Giao.

The success of South Australia Wine Connect 2024 was also driven by Betty Dang, vice president of the AVCC, along with her business partner, Mr. Tony Bui and his team in Hanoi. Their efforts generated considerable buzz on social media within the wine sector, a clear indicator that they are hitting the right notes with market demands. Initiatives like these not only strengthen the position of Australian wine in Asia but also underline the growing significance of Vietnam as a crucial market for international wine exports.