But the brewer acknowledges it has work to do in differentiating its beers better.
Sabeco is in turn keen to forge into the mid-tier segment dominated by Tiger - a strategy it hopes will help lift its market share towards a goal of 50% from 40% now. The company said it was too soon to say whether it might market Heineken Silver outside Vietnam. It is priced around 5% more than the standard version and both are sold at a premium of about 40% or more over low-end beers. Heineken’s overall market share has since risen to 31% from 20% in 2013, at the expense of smaller brewers in the country, according to data analytics firm GlobalData.Īlso seeking to shore up sales at the higher-end of the market, the Dutch brewer has launched Heineken Silver, the first country-specific variant of its namesake beer since Heineken Light was introduced in the United States in 2006.ĭesigned for local palates, the new beer is less bitter and has 4% alcohol content compared to 5% for standard Heineken.
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Growth has been mainly driven by Tiger, a popular Asian lager it acquired when it took full ownership of Asia Pacific Breweries in 2012. Analysts estimate Vietnam accounted for just over 10% of the 3.87 billion euros ($4.3 billion) Heineken made in operating income before one-off items last year. Heineken’s Vietnam sales have jumped by double-digit percentages in the past four years and the country is its second-largest source of profit after Mexico.
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That growth plus its population of nearly 100 million and beer’s 95% share of alcohol consumption make it an alluring market for brewers. Vietnam, Asia’s third-largest beer consumer after China and Japan, has seen beer volumes climb by an average 6.6% for the last six years compared to an increase of just 0.2% for consumption globally, according to market research firm Euromonitor International. 2 brewer, declined to provide sales team numbers but said it had about 3,500 workers in the country. 1 position, not only in profit but also in volume,” Heineken Vietnam managing director Leo Evers told Reuters in an interview. The push outside its stronghold of cities in the south has been driven by a doubling of Heineken’s Vietnam sales force over the past three years and takes aim at territory commanded by Sabeco, a former state-owned brewer now controlled by Thai Beverage Pcl. The Dutch brewer in March launched a new version of its Heineken lager and is expanding its reach into suburban and rural areas with its mid-tier Tiger brand and lower-priced Larue and Bivina beers.