Market Trends of Vietnam Container Glass Industry
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.
Understand The Key Trends Shaping This Market
Download Sample
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.
