Vietnam E-Commerce Market Report and Forecast 2025-2034
Description
The Vietnam e-commerce market reached approximately USD 13.10 Billion in 2024. The market is projected to grow at a CAGR of 12.40% between 2025 and 2034, reaching a value of around USD 42.16 Billion by 2034.
Vietnam E-Commerce Market Growth
The presence of progressive policies set out by the government is aiding the growth of the e-commerce market in Vietnam. In May 2020, the Government approved a national e-Commerce development master plan, which has encouraged the use of e-commerce in businesses and consumers, reduced the gap between major cities and localities, developed a sustainable virtual market, and improved cross-border online trading.
Additionally, the government is promoting a non-cash payment community intending to increase cashless payment to more than 50% by 2025. Furthermore, the increasing middle-class population of Vietnam and increasing disposable income are providing significant opportunities for the expansion of the e-commerce market.
In 2023, the total revenue from business-to-consumer (B2C) transactions on registered e-commerce platforms in the country reached VND 498.9 quadrillion (USD 20.1 billion). Of these, the revenue of the major e-commerce platforms in Vietnam which includes Shopee, Lazada, Tiki, Sendo, and TikTok Shop reached USD 9.4 billion, stating an increase of 53.4% compared to 2022.
Vietnam E-Commerce Industry Segmentation
Vietnam E-Commerce Market Report and Forecast 2025-2034 offers a detailed analysis of the market based on the following segments:
Market Breakup by Type
Business to Consumer (B2C)
Business to Business (B2B)
Market Breakup by Industry
Beauty and Personal Care
Fashion and Apparel
Consumer Electronics
Food and Beverage
Health and Wellness
Home Decor
Household Consumables
Others
Vietnam E-Commerce Market Share
Hanoi, a city in Vietnam witnessed a revenue of USD 3.1 billion, amounting to a 33% market share and a 44% increase year-on-year. The city is engaged in promoting online consumer activities and aims to encourage 53% of its population to shop online. Morever, in 2024, Hanoi aims for business-to-consumer (B2C) e-commerce sales to make up 13% of its total retail sales of goods and consumer services. The city also targets a 48% cashless rate for e-commerce payments and aims for 69% of online transactions to utilise e-invoicing. Embracing cashless payments aligns with the growth of the digital economy and e-commerce sector in Vietnam.
Leading Companies in Vietnam E-Commerce Market
Market players are actively investing in technological developments and are improving the quality of products and services, to cater to the changing consumer behaviours.
Tiki Corp
Shopee Pte. Ltd.
Lazada Group
Nguyen Kim Trading Joint Stock Company
Viettel Store
FPT Corp. (Sen Do Technology Joint Stock Company)
Cao Phong Co., Ltd.
Dieu Phuc Trading and Technical Services Co., Ltd.
Others
Vietnam E-Commerce Market Growth
The presence of progressive policies set out by the government is aiding the growth of the e-commerce market in Vietnam. In May 2020, the Government approved a national e-Commerce development master plan, which has encouraged the use of e-commerce in businesses and consumers, reduced the gap between major cities and localities, developed a sustainable virtual market, and improved cross-border online trading.
Additionally, the government is promoting a non-cash payment community intending to increase cashless payment to more than 50% by 2025. Furthermore, the increasing middle-class population of Vietnam and increasing disposable income are providing significant opportunities for the expansion of the e-commerce market.
In 2023, the total revenue from business-to-consumer (B2C) transactions on registered e-commerce platforms in the country reached VND 498.9 quadrillion (USD 20.1 billion). Of these, the revenue of the major e-commerce platforms in Vietnam which includes Shopee, Lazada, Tiki, Sendo, and TikTok Shop reached USD 9.4 billion, stating an increase of 53.4% compared to 2022.
Vietnam E-Commerce Industry Segmentation
Vietnam E-Commerce Market Report and Forecast 2025-2034 offers a detailed analysis of the market based on the following segments:
Market Breakup by Type
Business to Consumer (B2C)
Business to Business (B2B)
Market Breakup by Industry
Beauty and Personal Care
Fashion and Apparel
Consumer Electronics
Food and Beverage
Health and Wellness
Home Decor
Household Consumables
Others
Vietnam E-Commerce Market Share
Hanoi, a city in Vietnam witnessed a revenue of USD 3.1 billion, amounting to a 33% market share and a 44% increase year-on-year. The city is engaged in promoting online consumer activities and aims to encourage 53% of its population to shop online. Morever, in 2024, Hanoi aims for business-to-consumer (B2C) e-commerce sales to make up 13% of its total retail sales of goods and consumer services. The city also targets a 48% cashless rate for e-commerce payments and aims for 69% of online transactions to utilise e-invoicing. Embracing cashless payments aligns with the growth of the digital economy and e-commerce sector in Vietnam.
Leading Companies in Vietnam E-Commerce Market
Market players are actively investing in technological developments and are improving the quality of products and services, to cater to the changing consumer behaviours.
Tiki Corp
Shopee Pte. Ltd.
Lazada Group
Nguyen Kim Trading Joint Stock Company
Viettel Store
FPT Corp. (Sen Do Technology Joint Stock Company)
Cao Phong Co., Ltd.
Dieu Phuc Trading and Technical Services Co., Ltd.
Others
Table of Contents
112 Pages
- 1 Executive Summary
- 1.1 Market Size 2024-2025
- 1.2 Market Growth 2025(F)-2034(F)
- 1.3 Key Demand Drivers
- 1.4 Key Players and Competitive Structure
- 1.5 Industry Best Practices
- 1.6 Recent Trends and Developments
- 1.7 Industry Outlook
- 2 Market Overview and Stakeholder Insights
- 2.1 Market Trends
- 2.2 Key Verticals
- 2.3 Key Regions
- 2.4 Supplier Power
- 2.5 Buyer Power
- 2.6 Key Market Opportunities and Risks
- 2.7 Key Initiatives by Stakeholders
- 3 Economic Summary
- 3.1 GDP Outlook
- 3.2 GDP Per Capita Growth
- 3.3 Inflation Trends
- 3.4 Democracy Index
- 3.5 Gross Public Debt Ratios
- 3.6 Balance of Payment (BoP) Position
- 3.7 Population Outlook
- 3.8 Urbanisation Trends
- 4 Country Risk Profiles
- 4.1 Country Risk
- 4.2 Business Climate
- 5 Asia Pacific E-Commerce Market Overview
- 5.1 Key Industry Highlights
- 5.2 Asia Pacific E-Commerce Historical Market (2018-2024)
- 5.3 Asia Pacific E-Commerce Market Forecast (2025-2034)
- 6 Vietnam E-Commerce Market Overview
- 6.1 Key Industry Highlights
- 6.2 Vietnam E-Commerce Historical Market (2018-2024)
- 6.3 Vietnam E-Commerce Market Forecast (2025-2034)
- 7 Vietnam E-Commerce Market by Type
- 7.1 Business to Consumer (B2C)
- 7.1.1 Historical Trend (2018-2024)
- 7.1.2 Forecast Trend (2025-2034)
- 7.2 Business to Business (B2B)
- 7.2.1 Historical Trend (2018-2024)
- 7.2.2 Forecast Trend (2025-2034)
- 8 Vietnam E-Commerce Market by Industry
- 8.1 Beauty and Personal Care
- 8.1.1 Historical Trend (2018-2024)
- 8.1.2 Forecast Trend (2025-2034)
- 8.2 Fashion and Apparel
- 8.2.1 Historical Trend (2018-2024)
- 8.2.2 Forecast Trend (2025-2034)
- 8.3 Consumer Electronics
- 8.3.1 Historical Trend (2018-2024)
- 8.3.2 Forecast Trend (2025-2034)
- 8.4 Food and Beverage
- 8.4.1 Historical Trend (2018-2024)
- 8.4.2 Forecast Trend (2025-2034)
- 8.5 Health and Wellness
- 8.5.1 Historical Trend (2018-2024)
- 8.5.2 Forecast Trend (2025-2034)
- 8.6 Home Decor
- 8.6.1 Historical Trend (2018-2024)
- 8.6.2 Forecast Trend (2025-2034)
- 8.7 Household Consumables
- 8.7.1 Historical Trend (2018-2024)
- 8.7.2 Forecast Trend (2025-2034)
- 8.8 Others
- 9 Market Dynamics
- 9.1 SWOT Analysis
- 9.1.1 Strengths
- 9.1.2 Weaknesses
- 9.1.3 Opportunities
- 9.1.4 Threats
- 9.2 Porter’s Five Forces Analysis
- 9.2.1 Supplier’s Power
- 9.2.2 Buyer’s Power
- 9.2.3 Threat of New Entrants
- 9.2.4 Degree of Rivalry
- 9.2.5 Threat of Substitutes
- 9.3 Key Indicators for Demand
- 9.4 Key Indicators for Price
- 10 Competitive Landscape
- 10.1 Supplier Selection
- 10.2 Key Global Players
- 10.3 Key Regional Players
- 10.4 Key Player Strategies
- 10.5 Company Profiles
- 10.5.1 Tiki Corp.
- 10.5.1.1 Company Overview
- 10.5.1.2 Product Portfolio
- 10.5.1.3 Demographic Reach and Achievements
- 10.5.1.4 Certifications
- 10.5.2 Shopee Pte. Ltd.
- 10.5.2.1 Company Overview
- 10.5.2.2 Product Portfolio
- 10.5.2.3 Demographic Reach and Achievements
- 10.5.2.4 Certifications
- 10.5.3 Lazada Group
- 10.5.3.1 Company Overview
- 10.5.3.2 Product Portfolio
- 10.5.3.3 Demographic Reach and Achievements
- 10.5.3.4 Certifications
- 10.5.4 Nguyen Kim Trading Joint Stock Company
- 10.5.4.1 Company Overview
- 10.5.4.2 Product Portfolio
- 10.5.4.3 Demographic Reach and Achievements
- 10.5.4.4 Certifications
- 10.5.5 Viettel Store
- 10.5.5.1 Company Overview
- 10.5.5.2 Product Portfolio
- 10.5.5.3 Demographic Reach and Achievements
- 10.5.5.4 Certifications
- 10.5.6 FPT Corp. (Sen Do Technology Joint Stock Company)
- 10.5.6.1 Company Overview
- 10.5.6.2 Product Portfolio
- 10.5.6.3 Demographic Reach and Achievements
- 10.5.6.4 Certifications
- 10.5.7 Cao Phong Co., Ltd.
- 10.5.7.1 Company Overview
- 10.5.7.2 Product Portfolio
- 10.5.7.3 Demographic Reach and Achievements
- 10.5.7.4 Certifications
- 10.5.8 Dieu Phuc Trading and Technical Services Co., Ltd.
- 10.5.8.1 Company Overview
- 10.5.8.2 Product Portfolio
- 10.5.8.3 Demographic Reach and Achievements
- 10.5.8.4 Certifications
- 10.5.9 Others
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