Vietnam Rigid Plastic Packaging Market Size
| Study Period | 2022 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2022 - 2022 |
| CAGR (2024 - 2029) | 3.32 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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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
- In Vietnam, the demand for plastic bottles is primarily fueled by the packaging requirements of various sectors, notably food and beverages, personal care, and pharmaceuticals. Polyethylene (PE), a key player in this market, is categorized into high-density polyethylene (HDPE), low-density polyethylene (LDPE), and linear low-density polyethylene (LLDPE). The segment's growth is primarily attributed to the increasing adoption of PE in rigid packaging, thanks to its durability and chemical resistance.
- In Vietnam, the surging application of PE in food and beverage packaging, spanning trays, containers, and bottles, stands out as a significant driver of market expansion. Notably, manufacturers, including Alpla Group, are tailoring their offerings to this demand, producing HDPE bottles and jars via extrusion blow molding technology. They focus on food and beverage applications, catering to sauces, spreads, dairy products, juices, and other non-alcoholic beverages.
- Vietnam's thriving cosmetics and personal care sector is significantly boosting the demand for plastic bottles and jars, essential for storing creams, moisturizers, and various liquids. Factors such as rising disposable incomes, shifting beauty standards, and the popularity of organic skincare products propel this market growth.
- Vietnam's industrial production index for plastic products saw a notable uptick in 2023 compared to the prior year. Data from the General Statistics Office (GSO) reveals a rise in the industrial production index of plastic products from 102.4% in 2021 to 112.8% in 2023, underscoring the escalating demand for plastic packaging solutions.
Food Segment Expected to Dominate the Market
- Data from the United States Department of Agriculture (USDA) indicates that Vietnamese consumers are becoming increasingly health-conscious and seeking a broader array of food options and flavors available in convenience stores and supermarkets in the country. In 2023, Vietnam's food retail sales reached an estimated USD 68.5 billion, marking an 11.4 percent increase from the previous year, bolstering the demand for plastic packaging solutions.
- Urbanization and changing consumer lifestyles fuel the rise of food delivery services in Vietnam, subsequently increasing the demand for plastic containers, trays, bottles, and other rigid packaging solutions. As reported by the Vietnam Investment Review, a local newspaper, in 2023, Vietnamese consumers spent USD 1.4 billion on online food delivery platforms such as Grab, ShopeeFood, and GoJek, further propelling the market's growth.
- Manufacturers in Vietnam, including Bericap Holding GmbH and ALPLA Werke Alwin Lehner GmbH & Co KG, are concentrating on delivering innovative packaging solutions tailored to the food industry. Their focus is on enhancing product durability, convenience, and shelf life. These companies produce bottles and containers from recycled materials such as PET and HDPE, which are available in various fill volumes, thereby boosting product demand domestically.
- According to the USDA, Vietnam's 2023 imports of consumer-oriented food products approached USD 1 billion, significantly supporting the nation's plastic packaging industry. The robust consumer appetite for premium food products has spurred remarkable growth in the demand for plastic bottles, jars, trays, and containers. China and the United States emerged as the leading exporters to Vietnam, further fueling this market expansion.
Vietnam Rigid Plastic Packaging Industry Overview
The Vietnamese rigid plastic packaging market is consolidated, with key players including ALPLA Werke Alwin Lehner GmbH & Co KG, Bericap Holding GmbH, Duy Tan Plastics Corporation, and Indorama Ventures Vietnam leading the charge. These companies are vying for a larger slice of the market share in Vietnam, employing strategies such as new product development, expansion, and mergers and acquisitions. In April 2024, Bericap Holding GmbH, a German company with operations in Vietnam, unveiled plans for new production plants in both Kenya and Vietnam. These new plants are poised to tap into the regional market potential for plastic closure solutions, catering to sectors such as beverages, dairy products, food, and chemicals.
Vietnam Rigid Plastic Packaging Market Leaders
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Bericap Holding GmbH
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ALPLA Werke Alwin Lehner GmbH & Co KG
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Taiwan Hon Chaun Group
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Duy Tan Plastics Corporation
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Indorama Ventures Vietnam
*Disclaimer: Major Players sorted in no particular order
Vietnam Rigid Plastic Packaging Market News
- May 2024: ALPLA Werke Alwin Lehner GmbH & Co. KG, an Austria-based company with operations in Vietnam, unveiled a recyclable wine bottle crafted from Polyethylene Terephthalate (PET). This new bottle is approximately eight times lighter than its glass counterpart. Looking ahead, the company aims to produce a million units of this bottle by 2025.
- May 2024: Greif Inc., a United States-based company with operations in Vietnam, revealed its participation in ProPak Asia 2024, which took place in Thailand in June 2024. At the expo, the company showcased a range of innovative packaging solutions, prominently featuring plastic drums of various sizes.
Vietnam Rigid Plastic Packaging 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 Value Chain Analysis
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4.3 Industry Attractiveness - Porter's Five Forces Analysis
- 4.3.1 Bargaining Power of Suppliers
- 4.3.2 Bargaining Power of Buyers
- 4.3.3 Threat of New Entrants
- 4.3.4 Threat of Substitutes
- 4.3.5 Intensity of Competitive Rivalry
5. MARKET DYNAMICS
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5.1 Market Drivers
- 5.1.1 Growing Tourism to Boost Food and Beverage Industry
- 5.1.2 Availability of Variety of Plastic Packaging Products in Vietnam
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5.2 Market Challenge
- 5.2.1 Growing Environmental Concerns About Plastic Packaging Waste in the Country
6. INDUSTRY REGULATION, POLICY AND STANDARDS
7. MARKET SEGMENTATION
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7.1 By Product Type
- 7.1.1 Bottles and Jars
- 7.1.2 Trays and Containers
- 7.1.3 Caps and Closures
- 7.1.4 Intermediate Bulk Containers (IBCs)
- 7.1.5 Drums
- 7.1.6 Pallets
- 7.1.7 Other Product Types
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7.2 By Material
- 7.2.1 Polyethylene (PE)
- 7.2.1.1 LDPE & LLDPE
- 7.2.1.2 HDPE
- 7.2.2 Polyethylene Terephthalate (PET)
- 7.2.3 Polypropylene (PP)
- 7.2.4 Polystyrene (PS) and Expanded Polystyrene (EPS)
- 7.2.5 Polyvinyl Chloride (PVC)
- 7.2.6 Other Rigid Plastic Packaging Materials
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7.3 By End-Use Industries
- 7.3.1 Food**
- 7.3.1.1 Candy & Confectionery
- 7.3.1.2 Frozen Foods
- 7.3.1.3 Fresh Produce
- 7.3.1.4 Dairy Products
- 7.3.1.5 Dry Foods
- 7.3.1.6 Meat, Poultry, And Seafood
- 7.3.1.7 Pet Food
- 7.3.1.8 Other Food Products
- 7.3.2 Foodservice**
- 7.3.2.1 Quick Service Restaurants (QSRs)
- 7.3.2.2 Full-Service Restaurants (FSRs)
- 7.3.2.3 Coffee and Snack Outlets
- 7.3.2.4 Retail Establishments
- 7.3.2.5 Institutional
- 7.3.2.6 Hospitality
- 7.3.2.7 Other Foodservice End-Uses
- 7.3.3 Beverage
- 7.3.4 Healthcare
- 7.3.5 Cosmetics and Personal Care
- 7.3.6 Industrial
- 7.3.7 Building and Construction
- 7.3.8 Automotive
- 7.3.9 Other End-Use Industries (Household Products, and Logistics)
8. COMPETITIVE LANDSCAPE
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8.1 Company Profiles*
- 8.1.1 Taiwan Hon Chaun Group
- 8.1.2 ALPLA Werke Alwin Lehner GmbH & Co. KG
- 8.1.3 Bericap Holding GmbH
- 8.1.4 Duy Tan Plastics Corporation
- 8.1.5 IML Containers (Groupe Lacroix)
- 8.1.6 Inplas Vietnam JSC
- 8.1.7 Indorama Ventures Vietnam
- 8.1.8 Greif Inc.
- 8.2 Heat Map Analysis
- 8.3 Competitor Analysis - Emerging vs. Established Players
9. RECYCLING & SUSTAINABILITY LANDSCAPE**
10. FUTURE OUTLOOK
** Subject To AvailablityVietnam 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.
| By Product Type | Bottles and Jars | |
| Trays and Containers | ||
| Caps and Closures | ||
| Intermediate Bulk Containers (IBCs) | ||
| Drums | ||
| Pallets | ||
| Other Product Types | ||
| By Material | Polyethylene (PE) | LDPE & LLDPE |
| HDPE | ||
| By Material | Polyethylene Terephthalate (PET) | |
| Polypropylene (PP) | ||
| Polystyrene (PS) and Expanded Polystyrene (EPS) | ||
| Polyvinyl Chloride (PVC) | ||
| Other Rigid Plastic Packaging Materials | ||
| By End-Use Industries | Food** | Candy & Confectionery |
| Frozen Foods | ||
| Fresh Produce | ||
| Dairy Products | ||
| Dry Foods | ||
| Meat, Poultry, And Seafood | ||
| Pet Food | ||
| Other Food Products | ||
| By End-Use Industries | Foodservice** | Quick Service Restaurants (QSRs) |
| Full-Service Restaurants (FSRs) | ||
| Coffee and Snack Outlets | ||
| Retail Establishments | ||
| Institutional | ||
| Hospitality | ||
| Other Foodservice End-Uses | ||
| By End-Use Industries | Beverage | |
| Healthcare | ||
| Cosmetics and Personal Care | ||
| Industrial | ||
| Building and Construction | ||
| Automotive | ||
| Other End-Use Industries (Household Products, and Logistics) |
Vietnam Rigid Plastic Packaging Market Research FAQs
How big is the Vietnam Rigid Plastic Packaging Market?
The Vietnam Rigid Plastic Packaging Market size is expected to reach 0.78 million metric tons in 2024 and grow at a CAGR of 3.32% to reach 0.92 million metric tons by 2029.
What is the current Vietnam Rigid Plastic Packaging Market size?
In 2024, the Vietnam Rigid Plastic Packaging Market size is expected to reach 0.78 million metric tons.
Who are the key players in Vietnam Rigid Plastic Packaging Market?
Bericap Holding GmbH, ALPLA Werke Alwin Lehner GmbH & Co KG, Taiwan Hon Chaun Group, Duy Tan Plastics Corporation and Indorama Ventures Vietnam are the major companies operating in the Vietnam Rigid Plastic Packaging Market.
What years does this Vietnam Rigid Plastic Packaging Market cover, and what was the market size in 2023?
In 2023, the Vietnam Rigid Plastic Packaging Market size was estimated at 0.75 million metric tons. The report covers the Vietnam Rigid Plastic Packaging Market historical market size for years: 2022 and 2023. The report also forecasts the Vietnam Rigid Plastic Packaging Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Vietnam Rigid Plastic Packaging Industry Report
Statistics for the 2024 Vietnam Rigid Plastic Packaging market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Vietnam Rigid Plastic Packaging analysis includes a market forecast outlook for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
