Vietnam Metal Can Packaging Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Report Covers Vietnam Metal Can Packaging Market Companies and it is Segmented by Type (Aluminum, Steel) by End User (Food, Beverage, Cosmetic and Personal Care, Pharmaceuticals, Paints, Automotive).

Vietnam Metal Can Packaging Market Size

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Vietnam Metal Can Packaging Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Market Size (2024) USD 2.11 Billion
Market Size (2029) USD 2.45 Billion
CAGR (2024 - 2029) 3.07 %
Market Concentration Low

Major Players

Vietnam Metal Can Packaging Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Vietnam Metal Can Packaging Market Analysis

The Vietnam Metal Can Packaging Market size is estimated at USD 2.11 billion in 2024, and is expected to reach USD 2.45 billion by 2029, growing at a CAGR of 3.07% during the forecast period (2024-2029).

This growth is attributed to the rising demand for metal cans in the country due to the rising consumption of alcoholic and non-alcoholic beverages, such as beer and carbonated drinks.

  • Food can demand increased as a result of lockdown orders being implemented in Vietnam as people stocked up on tinned goods. As consumers move from public spaces like bars and restaurants to more private spaces like their homes, the demand for beverage cans has risen.
  • The growing rate of urbanization across the country has resulted in a higher demand for convenience food. Eating out and convenience food take over food shopping, preparing, and home cooking in Vietnam. The fast-growing middle class and the young population are this trend's two major growth factors.
  • Furthermore, the government of Vietnam is promoting the use of aluminum cans in the country. For instance, in January 2021, the Ministry of Natural Resources and Environment (MoNRE) and Ball Corporation came together in a campaign to promote the use and recycling of beverage cans in Vietnam.
  • Aluminum is mostly used for food packaging owing to its strong resistance to rust and corrosion, as food that is sensitive to light can be protected more reliably using aluminum cans. However, as mixing plastic and metal provides a solution to long-term storage, a polystyrene tray inside a foil-laminated pouch is getting demand for food packaging.
  • The implementation of the lockdown due to COVID-19 orders in Vietnam resulted in a spike in demand for food cans as people stocked up on tinned goods. The demand for beverage cans has increased as consumers switch from socially constrained settings like pubs and restaurants to more private settings like their homes.

Vietnam Metal Can Packaging Market Trends

This section covers the major market trends shaping the Vietnam Metal Can Packaging Market according to our research experts:

Growing Demand For Convenience Food In Vietnam to Drive the Market

  • The growing rate of urbanization across the country has resulted in a higher demand for convenience food. Eating out and convenience food take over food shopping, preparing, and home cooking in Vietnam. The fast-growing middle class and the young population are the two major growth factors of this trend.
  • The healthy growth of convenience stores such as coffee and snack outlets, retail establishments, hospitality, and others is expected to drive the need to produce metal can packaging.
  • As incomes have increased and young consumers have grown due to rapid urbanization, the market for convenience food has shown remarkable growth, whereas traditional markets are declining. Furthermore, the frequent turn to convenience food caused due to working professionals' busy schedules support the consumer to seek convenience in everyday products like food.
  • Post-pandemic, the demand for plant-based foods has significantly increased in the market. Vietnam's vegetarian food exporters are exploring ample opportunities as the United Kingdom is the major market for Vietnam for its plant-based products. For instance, in August 2022, Dong Thap Province-based Bình Loan vegetarian food factory exported two tonnes of canned vegetarian food to the United Kingdom with the support of Longdan, the biggest importer of Vietnamese goods in the United Kingdom.
  • The expansion of modern convenience stores and supermarkets across the country has geared up, which may likely add growth to the market studied. For instance, in July 2022, WinCommerce, a retail giant, could plan to open hundreds of new supermarkets and convenience stores in Vietnam by the end of the year to cater to the increased demand for convenience food products and to accelerate the expansion of its market share in the country.
Vietnam Metal Can Packaging Market: Urbanization from 2011-2021

Beverages Sector to Hold the Largest Market Share

  • The beverage metal cans find considerable demand in beer and wine packaging and other beverage markets in Vietnam. The growing consumer awareness to use green and environmentally sustainable products and increasing recycling rate and reusability drive the beverage metal cans market.
  • Moreover, with the help of economic development, favorable demographics, rising tourism, and rising middle-class income, Vietnam's beverage industry is expanding quickly. According to data from USDA Foreign Agricultural Service, in 2021, the production of beverages increased by 96.8 % in Vietnam.
  • A Vietnamese person consumes more than 23 liters of beverages annually. Vietnam's total beverage production was expected to increase from 8.3 to 9.2 billion liters by 2021. According to the VBA, there are approximately 1800 beverage manufacturing establishments. According to vtown.vn, carbonated soft drinks account for 23.74% of Vietnam's beverage market. However, tea is the most popular product, accounting for 36.97% of the market share. With 18.28%, energy drinks are followed by fruit juices (10.91%) and mineral water (5.45%).
  • The Vietnam wine market is booming, with hotels, restaurants, and retailers offering a wide variety of global wines. Vietnam's myriad free trade agreements (FTAs) have helped it become competitive, attracting foreign investors to relocate production or set up operations. The main objective of free trade agreements (FTAs) is to make an integrated market among country members by substantially reducing or fully liberalizing custom tariffs for imported products.
Vietnam Metal Can Packaging Market: Production Growth of Beverages (%), Vietnam, 2015-2021

Vietnam Metal Can Packaging Industry Overview

The competitive rivalry in the Vietnam metal can packaging market is high owing to many key players continually trying to gain maximum market share. Some of the major players are Canpac Vietnam Co. Ltd, Showa Aluminum Can Corporation, TBC-Ball Beverage Can VN Ltd (Ball Corporation, Vietnam Baosteel Can Co. Ltd (Baosteel Group), and Royal Can Industries Company Limited.

  • April 2022 - Ball Corporation's joint venture in Vietnam became the country's first can-making plant to be certified by the Aluminium Stewardship Initiative (ASI), while CROWN Holdings received the ASI Chain of Custody Standard Certification for its Brazilian subsidiary.

Vietnam Metal Can Packaging Market Leaders

  1. Canpac Vietnam Co. Ltd

  2. Showa Aluminum Can Corporation

  3. TBC-Ball Beverage Can VN Ltd. (Ball Corporation

  4. Vietnam Baosteel Can Co. Ltd (Baosteel Group)

  5. Royal Can Industries Company Limited

*Disclaimer: Major Players sorted in no particular order

Vietnam Metal Can Packaging Market Concentration
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Vietnam Metal Can Packaging Market News

  • July 2022 - Swire Coca-Cola Limited, one of Asia's largest soft drink producers, agreed to purchase The Coca-Cola Company's business in Vietnam and Cambodia from The Coca-Cola Company. The agreement would likely allow Swire Coca-Cola to enter the Southeast Asian market for the first time. Swire Pacific, a Hong Kong conglomerate, agreed to buy Coca-Cola bottling in Vietnam and Cambodia, expanding its presence in Southeast Asia. According to a stock exchange filing, Swire is expected to pay USD1.02 billion for the assets in Vietnam and Cambodia.
  • March 2022- TC Pharma, the global manufacturer, and exporter of food and beverage, launched its corporate purpose with three strategies: fulfilling, growing, and caring. With this strategy, the company could plan to expand its partnership with the Central Vietnam Youth Federation (CVYF) and the Vietnam Young Physician Association (VYPA).

Vietnam Metal Can Packaging Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET INSIGHTS

    1. 4.1 Market Overview

    2. 4.2 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.2.1 Bargaining Power of Suppliers

      2. 4.2.2 Bargaining Power of Buyers

      3. 4.2.3 Threat of New Entrants

      4. 4.2.4 Threat of Substitute Products

      5. 4.2.5 Intensity of Competitive Rivalry

    3. 4.3 Assessment of the Impact of COVID-19 on the Market

  5. 5. MARKET DYNAMICS

    1. 5.1 Market Drivers

      1. 5.1.1 Growing Demand for Convenience Food in Vietnam

      2. 5.1.2 Higher Recycling Rates Coupled with Higher End-user Manufacturing Demand

    2. 5.2 Market Restraints

      1. 5.2.1 Growing Demand for Alternative Products Such as Flexible Plastic

    3. 5.3 Market Opportunities

    4. 5.4 Import-Export Analysis of Food Cans and Beverage Cans in Vietnam

  6. 6. MARKET SEGMENTATION

    1. 6.1 By Type

      1. 6.1.1 Aluminum

      2. 6.1.2 Steel

    2. 6.2 By End User

      1. 6.2.1 Food

      2. 6.2.2 Beverage

      3. 6.2.3 Cosmetic and Personal Care

      4. 6.2.4 Pharmaceuticals

      5. 6.2.5 Paints

      6. 6.2.6 Automotive (Lubricants)

      7. 6.2.7 Other End Users

  7. 7. COMPETITIVE LANDSCAPE

    1. 7.1 Company Profiles

      1. 7.1.1 Canpac Vietnam Co. Ltd

      2. 7.1.2 Showa Aluminum Can Corporation

      3. 7.1.3 TBC-Ball Beverage Can VN Ltd (Ball Corporation)

      4. 7.1.4 Vietnam Baosteel Can Co. Ltd (Baosteel Group)

      5. 7.1.5 Royal Can Industries Company Limited

      6. 7.1.6 Hanacan JSC

      7. 7.1.7 Superior Multi-packaging Limited (SMPL)

      8. 7.1.8 Kian Joo Can (Vietnam) Co. Ltd

      9. 7.1.9 Nam Viet Packaging Manufacturing Co. Ltd

      10. 7.1.10 My Chau Printing & Packaging Corporation

    2. *List Not Exhaustive
  8. 8. INVESTMENT ANALYSIS

  9. 9. FUTURE OF THE MARKET

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Vietnam Metal Can Packaging Industry Segmentation

Metal cans are among the best packaging options for the mobile lifestyle that many consumers in the area lead. These can be carried or transported easily to outdoor sporting events, festivals, and beaches, whereas glass is typically forbidden because of its breakability. Additionally, the affordability and recyclability of cans, the rising popularity of energy drinks, and the launch of new goods all contribute to the market growth under study.

The Vietnamese metal cans packaging market covers segmentation by type (aluminum, steel) and end user (food, beverage, cosmetics, personal care, pharmaceuticals, paints, automotive, and other end users). The study also tracks the key market parameters, underlying growth influencers, and major vendors operating in the industry, which supports the market estimations and growth rates during the forecast period.

By Type
Aluminum
Steel
By End User
Food
Beverage
Cosmetic and Personal Care
Pharmaceuticals
Paints
Automotive (Lubricants)
Other End Users
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Vietnam Metal Can Packaging Market Research FAQs

The Vietnam Metal Can Packaging Market size is expected to reach USD 2.11 billion in 2024 and grow at a CAGR of 3.07% to reach USD 2.45 billion by 2029.

In 2024, the Vietnam Metal Can Packaging Market size is expected to reach USD 2.11 billion.

Canpac Vietnam Co. Ltd , Showa Aluminum Can Corporation , TBC-Ball Beverage Can VN Ltd. (Ball Corporation, Vietnam Baosteel Can Co. Ltd (Baosteel Group) and Royal Can Industries Company Limited are the major companies operating in the Vietnam Metal Can Packaging Market.

In 2023, the Vietnam Metal Can Packaging Market size was estimated at USD 2.05 billion. The report covers the Vietnam Metal Can Packaging Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Vietnam Metal Can Packaging Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Vietnam Metal Can Packaging Industry Report

Statistics for the 2024 Vietnam Metal Can Packaging market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Vietnam Metal Can Packaging analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Vietnam Metal Can Packaging Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)