Vietnam Container Glass Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Volume (2024) | 833.55 kilotons |
| Market Volume (2029) | 970.46 kilotons |
| CAGR (2024 - 2029) | 3.09 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Vietnam Container Glass Market Analysis
The Vietnam Container Glass Market size in terms of production volume is expected to grow from 833.55 kilotons in 2024 to 970.46 kilotons by 2029, at a CAGR of 3.09% during the forecast period (2024-2029).
- Vietnam's increasing urbanization spurs a growing appetite for diverse food and beverages. The country's inclination towards dining out and favouring convenience foods is eclipsing its traditional emphasis on home-cooked meals and grocery shopping. This transition is chiefly propelled by factors such as the swift growth of the middle class and the country's predominantly youthful population. With convenience stores, coffee shops, snack outlets, and the more comprehensive retail and hospitality landscape thriving, the demand for glass bottle packaging is poised for a significant upswing.
- The country's increasing consumption of food and beverages is the primary driver behind the significant demand for various packaging modes, notably glass bottles. The rising consumption of food and beverages in the country has directly influenced the growth of the retail industry, presenting a lucrative opportunity for glass bottle manufacturers to view Vietnam as a significant market in Southeast Asia. For instance, according to the General Statistics Office of Vietnam, the country's food and beverage consumption was VND 1,027 trillion (USD 42.11 billion) in 2022, and it is increased to VND 1,123 trillion (USD 46.04 billion) by 2023.
- Furthermore, the rising consumer preferences for safe and eco-friendly packaging are propelling the growth of glass packaging across various segments in Vietnam. Additionally, technological advancements, including embossing, shaping, and artistic finishes, enhance the appeal of glass packaging.
- Notably, the escalating demand for eco-friendly solutions and a surging appetite from the food and beverage sector are further fueling Vietnam's glass packaging market. The market is also benefiting from increased investments in research and development, which are driving innovations in glass packaging.
- However, the rise of alternative packaging options, including plastic, aluminum, and flexible materials, is hindering market growth. These alternatives tend to be more cost-effective, lighter, and easier to transport, appealing to both manufacturers and consumers. Further Additionally more, advancements in materials, such as recyclable plastics and biodegradable packaging, are diminishing the demand for conventional glass containers.
Vietnam Container Glass Market Trends
Increasing Beverage Consumption in the Country to Drive the Market
- Consumers are increasingly aware of the environmental impact of packaging materials. Glass is recyclable and perceived as a more sustainable option compared to plastics. This preference for environmentally friendly packaging can drive up the demand for container glass.
- With the increase in beverage consumption, there is a higher demand for beverage packaging solutions, including glass bottles. Glass is a preferred packaging material for many types of beverages, including soft drinks, beer, wine, and spirits, due to its ability to preserve taste and quality.
- According to the USDA Foreign Agricultural Service and General Statistics Office of Vietnam, in 2023, the beverage industry experienced a growth rate of 101.3% , showing recovery and nearing pre-pandemic levels after decline in 2020 and 2021 due to pandemic. However, the industry saw a major rebound in 2022 with a notable spik to 132.3%, indicating strong recovery phase.
- Stricter health and safety regulations can also influence packaging choices. Glass is chemically inert and does not interact with the contents, making it a safer choice for beverage packaging. Compliance with these regulations can thus boost the demand for container glass.
- The increasing demand for a diverse range of flavored beverages, particularly sparkling water, can significantly contribute to the growth of glass bottles in Vietnam. Flavored sparkling water is often marketed as a premium, health-conscious beverage. Consumers looking for unique and exotic flavors are likely to prefer premium packaging that maintains the quality and taste of the product. Glass bottles are ideal for this purpose due to their non-reactive nature, preserving the beverage's flavor and carbonation better than plastic.
Cosmetics Segment to Witness Highest Growth Rate
- Brands often use unique and aesthetically glass jars and bottles to differentiate their products, such as skincare and fragrances, in a crowded market. As the e-commerce sector grows, the competition among brands will increase, leading to greater use of distinctive glass packaging to stand out.
- As more domestic beauty and personal care brands emerge and grow, they will contribute to increasing the demand for locally produced glass jars and bottles. This growth can also create a symbiotic relationship between the beauty industry and container glass manufacturers in Vietnam, consequently positively impacting the container glass market growth.
- With the cosmetics industry experiencing increased sales through both online and offline channels, the demand for container glass is expected to rise. According to the Korea International Trade Association, Vietnam imported around USD 305 million worth of cosmetics from South Korea in the third quarter of 2023, compared to USD 327.02 million in 2022. This consistent demand for cosmetics in Vietnam indicates a growing market, offering opportunities for domestic vendors to supply container glass packaging to cosmetics manufacturers in the country.
- In December 2023, the Vietnam Ministry of Health (MoH) proposed a new Decree aimed at enhancing the management of cosmetics. The MoH has formally submitted the necessary documentation to the Government, seeking feedback and approval for the proposed Decree. The new decree is likely to impose stricter quality and safety standards on cosmetic products. Glass jars, which are inert and do not interact with their contents, are often preferred for their ability to maintain the integrity of high-quality cosmetic formulations. As a result, stricter regulations could lead to an increased preference for container glass packaging.
Vietnam Container Glass Industry Overview
The Vietnam container glass market is moderately consolidated with the presence of relatively small number of large companies like O-I BJC Vietnam Glass Co., San Miguel Yamamura Packaging Corporation, and Vietnam Nashley Technology Joint Stock Company, which tend to operate in several regions and diversify their portfolios. However, companies create similar products, thus increasing competition in the industry.
Vietnam Container Glass Market Leaders
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O-I BJC Vietnam Glass Co.
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San Miguel Yamamura Packaging Corporation
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Hung Phu Glass Joint Stock Company
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Vietnam Nashley Technology Joint Stock Company
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Feemio Group Co. Ltd
*Disclaimer: Major Players sorted in no particular order
Vietnam Container Glass Market News
- April 2024: Suntory PepsiCo Vietnam Beverage, a collaboration between Japan's Suntory and the United States-based PepsiCo, initiated the construction of a USD 300 million facility in Long An, a province in southern Vietnam.
- December 2023: The Vietnam Ministry of Health (MoH) proposed a new Decree aimed at enhancing the management of cosmetics. The MoH has formally submitted the necessary documentation to the Government, seeking feedback and approval for the proposed Decree. The new Decree is likely to impose stricter quality and safety standards on cosmetic products. Glass jars, which are inert and do not interact with their contents, are often preferred for their ability to maintain the integrity of high-quality cosmetic formulations. As a result, stricter regulations could lead to an increased preference for container glass packaging.
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 INSIGHTS
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Consumers
4.2.3 Threat of New Entrants
4.2.4 Intensity of Competitive Rivalry
4.2.5 Threat of Substitute Products
4.3 Industry Ecosystem Analysis with Emphasis on Circular Economy
4.4 Industry Standards and Regulations for Glass Packaging in Vietnam
4.5 Raw Material Price Trend Analysis Cullet, Sand, and Container Glass
4.6 Trade Analysis
4.7 Vietnam Container Glass Industry
5. MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Growing Environmental Awareness among the Population in Response to Extended Producer Responsibility (EPR)
5.1.2 The Increasing Beverage Consumption in the Country
5.2 Market Restraints
5.2.1 Alternative Packaging Options Challenging the Market Growth
6. SUBSTITUTION INSIGHTS OF GLASS BOTTLES WITH ALTERNATIVES
7. ECONOMIC ANALYSIS OF GLASS COLLECTION AND RECYCLING
8. MARKET SEGMENTATION
8.1 By End-user Industry
8.1.1 Beverage
8.1.1.1 Alcoholic
8.1.1.1.1 Beer and Cider
8.1.1.1.2 Wine and Spirits
8.1.1.1.3 Other Alcoholic Beverages
8.1.1.2 Non-Alcoholic
8.1.1.2.1 Carbonated Soft Drinks
8.1.1.2.2 Milk
8.1.1.2.3 Water and Other Non-alcoholic Beverages (Juices, Among others)
8.1.2 Food
8.1.3 Cosmetics
8.1.4 Pharmaceuticals
8.1.5 Other End-user Industries
9. COMPETITIVE LANDSCAPE
9.1 Company Profiles
9.1.1 O-I BJC Vietnam Glass Co.
9.1.2 San Miguel Yamamura Packaging Corporation
9.1.3 Hung Phu Glass Joint Stock Company
9.1.4 Vietnam Nashley Technology Joint Stock Company
9.1.5 Feemio Group Co. Ltd
9.1.6 Pavico Co. Ltd
- *List Not Exhaustive
10. FUTURE OUTLOOK OF THE MARKET
Vietnam Container Glass Industry Segmentation
The market is defined in terms of consumption sales of various container glasses such as bottles, jars, vials, and ampoules offered by various vendors operating in the market. The consumption volume (kilo tonnes) of the Vietnam container glass market is considered for the market size and forecasts. The market study factors are based on the prevalent base scenarios, key themes, and end-user vertical-related demand cycles.
The Vietnam container glass market is segmented by end-user industry (beverages (alcoholic (beer and cider, wine and spirits, and other alcoholic beverages), non-alcoholic (carbonated soft drinks, milk, water and other non-alcoholic beverages (juices, among others)), food, cosmetics, pharmaceuticals, other end-user industry). The Market Sizes and Forecasts are Provided in Terms of Volume (Tons) for all the Above Segments.
| By End-user Industry | ||||||||||||
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| Food | ||||||||||||
| Cosmetics | ||||||||||||
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| Other End-user Industries |
Vietnam Container Glass Market Research FAQs
How big is the Vietnam Container Glass Market?
The Vietnam Container Glass Market size is expected to reach 833.55 kilotons in 2024 and grow at a CAGR of 3.09% to reach 970.46 kilotons by 2029.
What is the current Vietnam Container Glass Market size?
In 2024, the Vietnam Container Glass Market size is expected to reach 833.55 kilotons.
Who are the key players in Vietnam Container Glass Market?
O-I BJC Vietnam Glass Co., San Miguel Yamamura Packaging Corporation, Hung Phu Glass Joint Stock Company, Vietnam Nashley Technology Joint Stock Company and Feemio Group Co. Ltd are the major companies operating in the Vietnam Container Glass Market.
What years does this Vietnam Container Glass Market cover, and what was the market size in 2023?
In 2023, the Vietnam Container Glass Market size was estimated at 807.79 kilotons. 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 Glass Industry Report
Statistics for the 2024 Vietnam Glass market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Vietnam Glass analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
