Vietnam Rigid Plastic Packaging Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

Vietnam Rigid Plastic Packaging Market Analysis

The Vietnam Rigid Plastic Packaging Market size in terms of shipment volume is expected to grow from 0.78 Million metric tons in 2024 to 0.92 Million metric tons by 2029, at a CAGR of 3.32% during the forecast period (2024-2029).

• As reported by the Global Statistics Office (GSO), Vietnam, classified as a lower middle-income nation, boasted a GDP of USD 430 billion in 2023, achieving a growth rate of 5.05 percent. This positions Vietnam as the fifth largest economy within ASEAN countries.
• Data from the United States Department of Agriculture (USDA) highlights that a rising urban populace is propelling Vietnam's food processing industry, an expanding middle-income demographic, and a flourishing tourism sector. Furthermore, Vietnam is poised for continued market expansion with its vast production of agricultural staples such as pork, coffee, spices, fruits, and vegetables, coupled with a growing food processing and agro-industrial sector.
• Urbanization and increasing disposable incomes in Vietnam are fueling a rising trend in the consumption of non-alcoholic beverages, including soft drinks, juices, and bottled water. This uptick in beverage spending is bolstering market growth. The Vietnamese Alcohol-Beer-Beverage Association (VBA) reported that in 2023, the average annual consumption of bottled water reached 23 liters per person due to the availability of diverse product options for mineral water in Vietnam's retail locations.
• The rigid plastic packaging market in Vietnam is on the rise, driven by major players such as Duy Tan Plastics Corporation. They offer various products in various shapes, sizes, and colors, catering to sectors such as cosmetics, food, beverages, pharmaceuticals, and personal care, thus meeting the surging customer demand.
• Despite this growth, Vietnam faces a pressing plastic waste dilemma. Annually, the nation produces 1.8 million tonnes of plastic waste, with roughly a third finding its way to landfills or the ocean. This poses environmental challenges and complicates the country's expanding industrial plastic production, potentially stunting market growth.

Vietnam Rigid Plastic Packaging Market Trends

Polyethylene (PE) Segment is Estimated to Have the Largest Market Share

Vietnam Rigid Plastic Packaging Industry Segmentation

The scope of the study characterizes the rigid plastic packaging market based on the product's raw materials, including PP, PE, PET, and other raw materials used across various end-use industries such as Food, Pharmaceuticals, Beverage, Personal Care, Industrial and Automotive, and more. The research also examines underlying growth influencers and significant industry vendors, all of which help to support market estimates and growth rates throughout the anticipated period. The market estimates and projections are based on the base year factors and arrived at top-down and bottom-up approaches.

Vietnam Rigid Plastic Packaging Market is Segmented by Product Type (Bottles and Jars, Trays and Containers, Caps and Closures, Intermediate Bulk Containers (IMCs), Drums, Pallets, and Other Product Types), Material Type (Polyethylene (PE) (LDPE & LLDPE and HDPE), Polyethylene Terephthalate (PET), Polypropylene (PP), Polystyrene (PS) and Expanded Polystyrene (EPS), Polyvinyl Chloride (PVC), and Other Rigid Plastic Packaging Materials), and by End-Use Industries (Food (Candy & Confectionary, Frozen Foods, Fresh Produce, Dairy Products, Dry Foods, Meat, Poultry and Seafood, Pet Food and Other Food Products), Foodservice (Quick Service Restaurants, Full Service Restaurants, Coffee and Snack Outlets, Retail Establishments, Institutional, Hospitality, and Other Foodservice End-Uses), Beverage, Healthcare, Cosmetics and Personal Care, Industrial, Building and Construction, Automotive and Other End-Use Industries (Household Products, and Logistics)). The Market Sizing and Forecasts are Provided in Terms of Volume (Tons) for all the Above Segments.