Vietnam Metal Can Packaging Market Size
| 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
*Disclaimer: Major Players sorted in no particular order |
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).
The rising consumption of alcoholic and nonalcoholic beverages, such as beer and carbonated drinks, is attributed to increased demand for metal cans in the country, thereby influencing the Vietnamese metal can packaging market’s growth.
- Due to its many advantages, such as rigidity, stability, and high barrier qualities, metal cans are frequently used to store and transport commodities across great distances. Metal cans constructed of steel and aluminum are the most popular in Vietnam. These materials have valuable qualities, such as being softer and lighter, which enable the makers to reduce logistics-related expenses.
- Because of their simplicity, 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. The affordability and recyclability of cans, the rising popularity of energy drinks, and the launch of new goods all contribute to the market’s growth.
- Moreover, changing lifestyles in Vietnam are resulting in consumers opting for easy-to-cook food. The younger population and individually living consumers are consuming more canned food. These users have less time and are budget-restrained, thus opting for products with lower costs and higher convenience.
- With environmental concerns at the forefront, it becomes imperative for beverage companies to offer their products in sustainable packaging. Sustainability is a significant concern in the beverage industry. Many manufacturing companies are switching to eco-friendly packaging alternatives. PET bottles, paper bottles made with cellulose-fiber material, and glass bottles are used as an alternative to metal cans and can challenge their growth in the industry.
- The food and beverage industry, with a significant share in the metal can packaging market, witnessed huge demand amidst the COVID-19 pandemic. The pandemic brought a significant change in consumption habits. There has been an increasing need for packaged food products, meat, vegetables, and fruits.
Vietnam Metal Can Packaging Market Trends
Growing Demand For Convenience Food in Vietnam
- The Vietnamese government intends to make the country one of the world's leading seafood processing centers by 2030 by developing an efficient and sustainable industry. This should result in a higher export ratio of processed products and an increase in the value of Vietnamese seafood. The increasing export value of seafood has demonstrated that the high demand for packaged frozen seafood from Vietnam worldwide has led to the growth of the Vietnamese metal can packaging market. The growing urbanization in the country is expected to drive the demand for packaged food.
- The fishery is one of the 25 products that bring the country an income of more than USD 1 billion each year. The Vietnam Association of Seafood Exporters and Producers (VASEP) reported a strong beginning for Vietnam's seafood industry in 2024. Exports have surged to almost USD 2 billion in Q1, reflecting an 8% year-on-year uptick. This growth is primarily fueled by heightened demands from pivotal markets such as the United States, Japan, China, and Hong Kong. VASEP projects that by the close of 2024, Vietnam's seafood exports could hit a notable USD 9.5 billion, surpassing the previous year's figures.
- Moreover, the demand for metal can packaging is increasing with the growing investments by many businesses that previously only traded fresh agricultural products and have invested heavily in processed foods. Vietnam's rising population, income levels, changing cultural preferences, and new trade agreements opened the door to significant growth in the meat industry.
- According to the study by the USDA Foreign Agricultural Service, General Statistics Office of Vietnam, and the Ministry of Industry and Trade (Vietnam), food product manufacturing grew by 102.9 % in the country. There are nearly 6,000 enterprises operating in Vietnam's processed food industry. Most of the market share is held by well-established players such as Vissan, CJ Cau Tre, or Ha Long Canfoco.
- The Vietnam Packaging Association reports that Vietnam's packaging industry is home to approximately 14,000 enterprises, with a significant emphasis on plastic packaging, to which 9,200 enterprises are dedicated. The country boasts over 900 packaging factories, with a notable 70% concentrated in the southern region, particularly in key areas like Ho Chi Minh City, Binh Duong, and Dong Nai. Driven by swift economic and social advancements, a booming e-commerce sector, and advantageous free trade agreements (FTAs), Vietnam's packaging sector is poised for substantial growth.
Beverages Sector to Hold the Largest Market Share
- The beverage metal cans find significant demand in beer and wine packaging and other beverage markets in the country. The growing consumer awareness of the need to use green and environmentally sustainable products, the increasing recycling rate, and the reusability of metal cans are driving the market studied.
- In Vietnam, the market for beverage metal cans is expanding significantly due to the various manufacturing coating technologies. The steel and aluminum components meet secure, dependable, and hygienic beverage packaging standards. Metal beverage cans are affordable, practical, and anti-contaminating.
- The Vietnamese wine market is growing, with hotels, restaurants, and retailers offering various wines from around the world. Vietnam’s diverse free trade agreements (FTAs) have made the wine market competitive, attracting foreign investors to relocate production or set up operations. The main objective of FTAs is to create an integrated market among country members by significantly reducing or fully liberalizing custom tariffs for imported products.
- Vietnam's Government has planned to decrease its stake in state-owned enterprises to encourage the country's private sector, supporting the positive outlook for Vietnam's beverage industry. This, accompanied by Vietnam's membership in the WTO and many free trade agreements such as CPTPP and EVFTA, aims to attract multinational companies to invest in the drink sector and generate opportunities for Vietnamese companies to increase exports. With the increasing investment by the companies as the production of the beverage increases, the demand for metal cans is growing.
- The growth of the middle class in Southeast Asia and consumers' preference for beverage cans continue to increase demand for metal cans. A significant percentage of the annual production and consumption of Vietnam's beverage market is soft drinks, instant teas, fruit juices of all kinds, and energy drinks. According to the General Statistics Office of Vietnam, the revenue from manufacturing beverages in 2022 was estimated at USD 6,855.64 million, and it reached USD 7,691.83 million in 2023.
Vietnam Metal Can Packaging Industry Overview
The Vietnamese metal can packaging market is fragmented 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. Many market players are developing high-quality metal can packaging solutions while others are making efforts toward efficient recycling of packaging products to cater to the industry requirements.
- January 2024: Rooster Beers, a craft brewery hailing from Ho Chi Minh City, Vietnam, unveiled a fresh, slim can design for its popular Blonde and Dark brews. While Rooster Beers has built its reputation on crafting traditional yet approachable beers, it is now charting a unique path, diverging from Western norms. The brand's move to introduce a sleek can design underscores this departure. With meticulously chosen design elements, the new cans exude a lively, contemporary vibe.
- April 2024: In Vietnam, the "extended producer responsibility" (EPR) policy now requires producers and importers to ensure the recycling of a set portion of their products and packaging. If they cannot recycle, they must contribute financially to the Vietnam Environment Protection (VEP) Fund. The Ministry of Natural Resources and Environment (MONRE) outlined these mandates in Decree 08/2022/ND-PC. Companies have specific deadlines to start recycling different items: batteries, lubricants, and tires from January 2024; electrical and electronic products from January 1, 2025; and means of transportation from January 2027. MONRE is also tasked with proposing disposal regulations for transportation by January 2025.
Vietnam Metal Can Packaging Market Leaders
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Canpac Vietnam Co. Ltd
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Showa Aluminum Can Corporation
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TBC-Ball Beverage Can VN Ltd. (Ball Corporation
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Vietnam Baosteel Can Co. Ltd (Baosteel Group)
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Royal Can Industries Company Limited
*Disclaimer: Major Players sorted in no particular order
Vietnam Metal Can Packaging Market News
- April 2024: Avient Corporation, a provider of specialty and sustainable material solutions, unveiled its latest lineup of sustainable colorants and additives at Propak Vietnam 2024, a key event in Vietnam's packaging industry. These offerings cater to both rigid and flexible packaging needs. Notably, Avient's solutions focus on light-weighting, offering alternatives to heavier materials such as metal, glass, and wood. This shift not only enhances fuel efficiency across transportation modes but also significantly reduces the carbon footprint. Avient's commitment lies in elevating packaging quality and functionality for its customers, all the while championing sustainability.
- April 2024: Vietnam's state-owned mining company, Vinacomin, is set to inject a substantial USD 7.3 billion into expanding its alumina-aluminum production. This move is a strategic response to Vietnam's escalating demand for the metal. The investment will primarily target two bauxite exploration projects and five refining projects in Dak Nong, a province situated in the Central Highlands. Having kickstarted its alumina production journey over a decade ago, Vietnam, a pivotal manufacturing player in Southeast Asia, is now poised for significant expansion. Vinacomin's ambitious plans include boosting the alumina capacity of its Nhan Co Alumina complex from 650,000 tons annually to an impressive 2 million tons.
Vietnam Metal Can Packaging Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definitions
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 Buyers
4.2.3 Threat of New Entrants
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 Demand for Convenience Food in Vietnam
5.1.2 Higher Recycling Rates Coupled with Higher End-user Manufacturing Demand
5.2 Market Restraints
5.2.1 Growing Demand for Alternative Products Such as Flexible Plastic
5.3 Market Opportunities
5.4 Import-Export Analysis of Food Cans and Beverage Cans in Vietnam
6. MARKET SEGMENTATION
6.1 By Type
6.1.1 Aluminum
6.1.2 Steel
6.2 By End User
6.2.1 Food
6.2.2 Beverage
6.2.3 Cosmetic and Personal Care
6.2.4 Pharmaceuticals
6.2.5 Paints
6.2.6 Automotive (Lubricants)
6.2.7 Other End Users
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 Canpac Vietnam Co. Ltd
7.1.2 Showa Aluminum Can Corporation
7.1.3 TBC-Ball Beverage Can VN Ltd (Ball Corporation)
7.1.4 Vietnam Baosteel Can Co. Ltd (Baosteel Group)
7.1.5 Royal Can Industries Company Limited
7.1.6 Hanacan JSC
7.1.7 Superior Multi-packaging Limited (SMPL)
7.1.8 Kian Joo Can (Vietnam) Co. Ltd
7.1.9 Nam Viet Packaging Manufacturing Co. Ltd
7.1.10 My Chau Printing & Packaging Corporation
- *List Not Exhaustive
8. INVESTMENT ANALYSIS
9. FUTURE OF THE MARKET
Vietnam Metal Can Packaging Industry Segmentation
Metal cans have emerged as a favored packaging choice for Vietnam's mobile-centric consumers. Their portability makes them ideal for outdoor events, festivals, and beaches, unlike glass, which is often prohibited due to its fragility. The Vietnamese metal can packaging market’s growth is further fueled by the cost-effectiveness and recyclability of cans, the surging demand for energy drinks, and the introduction of new products.
The Vietnamese metal can packaging market is segmented by type (aluminum and steel) and end user (food, beverage, cosmetic and personal care, pharmaceuticals, paints, and automotive). The market sizes and forecasts are provided in terms of value USD for all the above segments.
| By Type | |
| Aluminum | |
| Steel |
| By End User | |
| Food | |
| Beverage | |
| Cosmetic and Personal Care | |
| Pharmaceuticals | |
| Paints | |
| Automotive (Lubricants) | |
| Other End Users |
Vietnam Metal Can Packaging Market Research Faqs
How big is the Vietnam Metal Can Packaging Market?
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.
What is the current Vietnam Metal Can Packaging Market size?
In 2024, the Vietnam Metal Can Packaging Market size is expected to reach USD 2.11 billion.
Who are the key players in Vietnam Metal Can Packaging Market?
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.
What years does this Vietnam Metal Can Packaging Market cover, and what was the market size in 2023?
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.
Vietnam Metal Can Packaging Market Report Snapshots
