Directly competing with Suntory Pepsico is Coca-Cola Vietnam, whose products are quite similar to that of Pepsico. The list of largest soft drinks companies in Vietnam also includes URC Vietnam, Trung Nguyen Legend Group, Tan Hiep Phat, and Vinacafe Bien Hoa. These company are also among the top 10 largest beverage companies in Vietnam in 2021 according to VietnamCredit.
In addition to the above-mentioned enterprises, Lavie, Sanest Khanh Hoa and Red Bull are also companies with large revenue and firm positions in the non-alcohol drink market in Vietnam. Below is detailed information about these companies.
Lavie was established in September 1992 as a joint venture between Perrier Vittel (France) and Long An General Trading Company in Vietnam. In 1993, Nestlé Group (Switzerland) acquired this company and established Laive Co., Ltd. located in Long An, where Lavie's first water factory was built.
In July 1994, Lavie launched its main product, Lavie 500ml and 1.5L bottles to Vietnamese consumers. In 2002, the company expanded its scale by setting up the second factory in Nhu Quynh town, Hung Yen province.
In its development, Lavie has gradually become one of the largest bottled water brands in Vietnam. It is the first water company in Vietnam to achieve ISO 9000 international standard certification and quality assurance in 1999.
In 2020, Lavie's revenue reached nearly 100 million USD. Lavie's bottled water products are popular among Vietnamese because of their clean drinking water, which ensures the health of consumers, and is recommended by many experts.
Khanh Hoa Sanest Soft Drink Joint Stock Company (Sanest Khanh Hoa) was established in 2002. The company was formerly a State-owned enterprise specializing in processing bird's nest products.
In 2017, Sanest Khanh Hoa was officially equitized and granted the second enterprise certificate in 2020. The Chairman of the Board of Directors is Mr. Le Duc Tien.
In order to grow and develop, in 2012 Sanest Khanh Hoa put into operation the factory with a capacity of 15,000 products/hour. Besides, the company also exports its products to international markets such as the US, Australia, Korea, and China.
In 1981, Red Bull was officially 'born', and quickly became the most popular energy drink among Thai people. In 1987, Red Bull entered the international market, opening a whole new 'playing field' for energy drinks.
In 1999, Red Bull was launched in the Vietnamese market. In the journey of more than 20 years of serving Vietnamese consumers, with product lines of international standards, Red Bull not only transmits a positive life energy but also becomes a 'spiritual' drink closely associated with Vietnamese life.
Although the energy drink market is quite potential for development, success is not easy. The majority of consumers often perceive energy drinks as bold soft drinks with strong effects on alertness and think that this is a form of functional food rather than a beverage. A narrow market niche means high competition, with many beverage giants entering the segment.
Despite being one of the pioneers in the Vietnamese market, it took Red 20 years to achieve the trillion-dong-revenue milestone.
In 2019, Red Bull Vietnam's revenue reached 1,013 billion VND, an increase of more than 2% compared to 2018. However, this figure may not fully reflect the brand's consumption in Vietnam because in addition to being produced from Red Bull Vietnam's own factory, these brand products are also imported directly.
Alice Hoang Thao - VietnamCredit