Coca-Cola consumption in Vietnam reaches 875 mln liters in 2024, down 0.6%

The consumption of Coca-Cola products in Vietnam reached 154 million unit cases in 2024 (each unit case has 24 eight-ounce servings), equivalent to 875 million liters, according to Swire Coca-Cola.

According to the 2024 performance review of Hong Kong-headquartered Swire Coca-Cola, Vietnam ranked third among Swire Coca-Cola markets, only behind mainland China with 1,381 million unit cases and the United States with 336 million unit cases.

Vietnam’s figure went down from 155 million unit cases in 2023, or a decline of 0.6%.

Other markets of Swire Coca-Cola included Hong Kong with 61 million unit cases, Taiwan with 72 million, Cambodia with 28 million, Thailand with 97 million, and Laos with three million.

In terms of per capita consumption, Vietnam was the second-lowest figure with 37 eight-ounce servings, on par with Cambodia and higher than Laos with 10 servings.

Top ones were the United States with 256 servings, Hong Kong with 195 servings, Taiwan with 74 servings, mainland China with 48 servings, and Thailand with 41 servings.

Regarding financial performance, Swire Coca-Cola’s revenue from the Vietnam and Cambodia markets was HKD4,338 million ($558 million), down 3.7% year-on-year. However, the post-tax profit from the markets went up 18.7% year-on-year. Swire Coca-Cola did not specify details for each country.

For the outlook, Swire Coca-Cola said in Vietnam, despite the headwinds in exchange rate and raw material prices, the business will focus on growing revenue, pricing opportunities, and cost efficiency to deliver steady profit.

Swire Pacific, the parent company of Swire Coca-Cola, announced the acquisition of Coca-Cola's bottling businesses in Vietnam and Cambodia in July 2022 for $1.02 billion. Coca-Cola entered Vietnam in 1994 and increased its investment to $1 billion as of 2022.