Market Size of Vietnam Container Glass Industry
| 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 |
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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.
