Vietnam Container Glass Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 2.50 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Vietnam Container Glass Market Analysis
The Vietnam Container Market is expected to register a CAGR of 2.5% during the forecast period. The trend has witnessed a shift of focus from glass packagers in the country to the pharmaceutical industry.
- The increasing trend of transparency in food packaging in the recent past few years. Consumers want to see the physical product before purchasing, in addition to the listed ingredients on the label. To capitalize on this trend, many companies, particularly dairy product manufacturers and alcohol manufacturers are offering their products in transparent glass containers.
- Additionally, the growing food and beverage industry is anticipated to support the growth of glass containers in the studied timeframe. For instance, according to the General Statistics Office of Vietnam, food and beverage consumption is forecast to reach VND 902 trillion in 2022 from VND 517 trillion in 2017. The growing consumption year on year will promote growth for glass containers in the food and beverage industry.
- Growing environmental awareness among the population is another factor propelling the demand for container glass in numerous end-user industries. Despite the huge demand for container glass in the domestic market from the ever-increasing food, beverage, and pharmaceutical sectors, the local glass container industry has failed to capitalize on the opportunities it was provided. For instance, according to export genius, the country imports glass containers from its neighboring countries such as China, Thailand, and Indonesia to fulfill the demand for glass containers in the end-user industries such as food, Cosmetics
and Pharmaceuticals. - However, increasing taxes on alcohol products would bring numerous benefits to public health and society. These advantages include lesser alcohol-related deaths and illnesses, decreased consumption, increased work efficiency, lower medical costs, fewer social consequences of alcohol abuse, and increased government revenue. This is expected o hinder market growth for the container glass market.
- The COVID-19 outbreak in the second quarter has hit beer producers in the country, especially large ones. This affected the demand for the market, as the beer industry is the largest consumer of glass containers in Vietnam.
Vietnam Container Glass Market Trends
This section covers the major market trends shaping the Vietnam Container Glass Market according to our research experts:
Beverage Segment to Bolster Growth
- According to Observatory of Economic Complexity (OEC), the country is experiencing negative net trade for glass bottle, amounting to USD (194.4) million in 2020. This is evident from the fact that the country has only a few major players and some small producers serving domestic demand. A lot of glass is imported from neighboring countries such as Thailand, China, and Indonesia. The increase in export of glass containers from the neighboring will support the growth of the container glass market.
- Also, the beer industry is Vietnam's largest consumer of glass container bottles, Other alcoholics, along with non-alcoholic beverages, are also becoming significant users of glass containers. Additionally, according to the IZA institute of labor economics, the average adult in Vietnam consumed 6.7 liters of alcohol in 2021. Consumption has increased by 74% since 2005, according to o the Ministry of Health.
- Additionally, according to a Non-communicable Disease Risk Factor Survey, the percentage of Vietnamese men who consume alcohol is very high. In 2021 the statistics showed that 64% of men and 10% of women had consumed alcohol in the past 30 days. On the contrary, drinking has surged in the past years, especially among men, with one in three drinks at dangerous levels in Vietnam.
- However, according to USDA foreign agricultural service, beer production volume in Vietnam has declined from 5.1 billion liters in 2019 to 4.05 billion liters in 2021, owing to a rise in consumption of home alcohol over branded.
Pharmaceuticals Segment is Expected to Boost Market Growth
- The Pharmaceutical industry in Vietnam is among the highest growing markets, with over 98 million citizens making it an attractive market for investors and FDI. For instance, the Pharmaceutical industry in Vietnam is among the highest growing markets, with over 98 million citizens making it an attractive market for investors and FDI. For instance, Northern Vietnam's Nam Dinh province is among the emerging destinations for investment in Vietnam. It is a locality with the foundation for the development of the pharmaceutical industry.
- Additionally, the increasing number of deaths in the country has promoted imported pharmaceutical and medicinal products. According to the Ministry of Health, Vietnam reports approximately 548,000 deaths yearly from cardiovascular disease, cancer, digestive, infectious, and several other diseases. However, the country imports pharmaceutical and medicinal products to counter those mentioned above. For instance, according to the General Statistics Office of Vietnam, the import value of pharmaceutical and medicinal products reached almost USD 3.98 billion in 2021 from USD 2.32 billion in 2015. This is anticipated to propel the country to invest in R&D for imported medicines to reduce the dependency on other countries.
- The surge in non-communicable diseases, aging population, and increase in per capita income are believed to be the major market drivers. According to Vietnam's Ministry of Health, the number of NCD cases recorded in Vietnam is surging. All these factors are anticipated to promote growth for the container glass market in the studied time frame.
Vietnam Container Glass Industry Overview
The Vietnam container glass market is consolidated, with very less players operating in the market. The healthcare company are investing in the country to develop its healthcare facilities which will enhance the country's.
October 2021- The International Finance Corporation (IFC) signed an agreement to provide USD 14.5 million loans to San Miguel Haiphong Glass Company, a private sector-led joint venture for a USD 32 million greenfield glass container manufacturing plant at Haiphong in northern Vietnam.
Vietnam Container Glass Market Leaders
Oi-Bjc Vietnam Glass Co
Go Vap Glass
HuphuMeglass
San Miguel Corporation
*Disclaimer: Major Players sorted in no particular order
Vietnam Container Glass Market News
October 2021- The International Finance Corporation (IFC) signed an agreement to provide USD 14.5 million loans to San Miguel Haiphong Glass Company, a private sector-led joint venture for a USD 32 million greenfield glass container manufacturing plant at Haiphong in northern Vietnam.
Vietnam Container Glass Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHT
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Forces Analysis
4.2.1 Threat of New Entrants
4.2.2 Bargaining Power of Buyers/Consumers
4.2.3 Bargaining Power of Suppliers
4.2.4 Threat of Substitute Products
4.2.5 Intensity of Competitive Rivalry
4.3 Assessment of the Impact of COVID-19 on the Market
5. MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Growing Enviornmental Awareness among the Population
5.1.2 The Increasing Beverage Consumption in the Country
5.2 Market Restrain
5.2.1 Increasing Use of of Substitute Products
6. MARKET SEGMENTATION
6.1 End-User Industry
6.1.1 Beverage
6.1.1.1 Alcoholic
6.1.1.2 Non-Alcoholic
6.1.2 Food
6.1.3 Cosmetics
6.1.4 Pharmaceuticals
6.1.5 Other End user verticals
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 Oi-Bjc Vietnam Glass Co
7.1.2 Go Vap Glass
7.1.3 HuphuMeglass
7.1.4 Sanmiguel Corporation
- *List Not Exhaustive
8. INVESTMENT ANALYSIS
9. FUTURE OF THE MARKET
Vietnam Container Glass Industry Segmentation
Glass Containers mean a glass bottle, jar, or other packaging container used to contain a product that is the subject of a retail sale. These bottles and containers can be clear or Tinted/ Amber.
Vietnam Container Glass Market is segmented By End-User Industry (Beverage, (Alcoholic and Non-Alcoholic), Food, Cosmetics, Pharmaceuticals)
| End-User Industry | ||||
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| Food | ||||
| Cosmetics | ||||
| Pharmaceuticals | ||||
| Other End user verticals |
Vietnam Container Glass Market Research FAQs
What is the current Vietnam Container Glass Market size?
The Vietnam Container Glass Market is projected to register a CAGR of 2.5% during the forecast period (2024-2029)
Who are the key players in Vietnam Container Glass Market?
Oi-Bjc Vietnam Glass Co, Go Vap Glass, HuphuMeglass and San Miguel Corporation are the major companies operating in the Vietnam Container Glass Market.
What years does this Vietnam Container Glass Market cover?
The report covers the Vietnam Container Glass Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Vietnam Container Glass Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Vietnam Container Glass Industry Report
Statistics for the 2024 Vietnam Container Glass market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Vietnam Container Glass analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
