Waste Management in Vietnam Market Size
| Study Period | 2020-2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 6.98 Billion |
| Market Size (2029) | USD 9.73 Billion |
| CAGR (2024 - 2029) | 6.84 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Waste Management in Vietnam Market Analysis
The Vietnam Waste Management Market size is estimated at USD 6.98 billion in 2024, and is expected to reach USD 9.73 billion by 2029, growing at a CAGR of 6.84% during the forecast period (2024-2029).
- Vietnam's waste management still needs to be improved for and the country is making continuous efforts to manage solid waste innovatively and creatively. In 2018, the annual Vietnamese waste production comprised more than 27.8 million tons, consisting of 46% from municipal sources and the remainder delivered from agriculture and industry.
- The five biggest cities - Hanoi, Ho Chi Minh City (HCM City, former Saigon), Haiphong, Da Nang, and Can Tho - are responsible for about 70% of the total waste generation. The municipal solid waste contains 60% to 70% of biodegradable residues by wet weight.
- The COVID-19 pandemic negatively impacted the waste management market in Vietnam. It is driving the plastic products market for prevention, testing, and treatment worldwide. Safely disposing of huge mountains of plastic waste is a major problem faced by many countries.
- Some of the major drivers in the market include Vietnam's rapid industrialization and urbanization, which has increased the output of Vietnam's hazardous solid waste, which needs to be effectively managed. Also, shortcomings that are associated with the leachate from improperly constructed and managed landfills and solid waste management is one of the top government priorities in Vietnam.
- One of the restraints in the market is the Technology currently implemented for solid waste treatment; it fails to meet the general sanitary requirements and might cause harm to humans.
Waste Management in Vietnam Market Trends
Rising Waste Generation due to Rapid Urbanization and Industrialization
- Vietnam’s rapid growth and industrialization have caused negative impacts on the environment and natural assets.
- According to the World Bank, from the beginning of its market transformation, Vietnam has emerged as one of the world’s fastest-growing per-capita greenhouse gas emitters.
- Vietnam Briefing quoted data from the Ministry of Natural Resources and Environment (MoNRE) as saying that the country produces approximately 60,000 tonnes of household waste each day. Most notably, the urban areas of Hanoi and Ho Chi Minh City alone account for a significant portion, generating 7,000 to 9,000 tonnes of trash each, with this amount projected to increase by 10% to 16% by 2025.
- Despite the staggering volume of waste generated, waste treatment in the country still needs to be more effective. Currently, according to MoNRE’s National Environmental Status Report in 2021, the majority of the waste is taken to landfill sites, but only 20% of it meets national sanitary requirements.
Industrial development is acting as a significant growth-inducing factor by increasing the volume of industrial waste
- The current status of waste management in Vietnam presents significant challenges due to the huge amount of waste generated daily. According to data from the Ministry of Natural Resources and Environment (MoNRE), Vietnam produces approximately 60,000 tons of household waste each day. Notably, the urban areas of Hanoi and Ho Chi Minh City alone account for a significant portion, generating 7,000 to 9,000 tons of trash each. This amount is projected to increase by 10-16 percent by 2025.
- Việt Nam’s industrial production this month continued a more positive trend, with the index of industrial production (IIP) estimated to rise by 2.9 percent over the previous month and 2.6 percent over the same period last year.
- In the first eight months of 2023, the number of key industrial products increased sharply over the same period last year, including sugar (up 34.9 percent), fertilizer (up 14.2 percent), gasoline and oil (up 10.1 percent), television (up 10 percent); chemical paint (up 9.5 percent); cigarettes (up 8.6 percent); clothing (up 8.6 percent); and rolled steel (up 6.5 percent).
Waste Management in Vietnam Industry Overview
The market in the country is fairly competitive owing to the fact that there is increasing economic activity leading to heavier amounts of wastage that need effective management techniques. In Vietnam, more and more investments in the waste management industry are helping the city of Can Tho in preventing the clogging of the drains, which could result in flooding. The Vietnamese government is very open to business activities and presents itself as an enterpriser.
Germany enjoys a high reputation in Vietnam, and the reputation for reliability and high-quality work often precedes German companies and providers. On the other hand, the number of foreign competitors is constantly growing, and more than quality is needed to sustain as a long-term business partner. Vietnam enjoys relatively strong competition with technology suppliers and market players from the Asian region, especially Japan, Taiwan, and Korea
Waste Management in Vietnam Market Leaders
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CITENCO
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Tan Phat Tai Co., Ltd
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Green Environment Production – Services – Trade Co., Ltd
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SGS VietNam
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Vietnam Australia Environment JSC
*Disclaimer: Major Players sorted in no particular order
Waste Management in Vietnam Market News
- July 2023: Vietnam committed to collaborating closely with fellow ASEAN member countries, non-ASEAN nations, and international partners. This collaboration aims to mobilize resources dedicated to capacity building, technology transfer, and the exchange of experiences concerning hazardous chemicals and waste management.
- July 2022: The Ho Chi Minh City Department of Natural Resources and Environment actively promoted the adoption of advanced technologies for effective waste management. The city seeks to efficiently handle substantial waste volumes through the swift identification of waste-generating processes. By leveraging technology in waste management, authorities can promptly implement measures to reduce waste quantities, ultimately minimizing associated shipping and final disposal costs.
Waste Management in Vietnam Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Scope of the Study
- 1.2 Key Deliverables of the Study
- 1.3 Study Assumptions
2. RESEARCH METHODOLOGY
- 2.1 Analysis Methodology
- 2.2 Research Phases
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS and DYNAMICS
- 4.1 Market Overview
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4.2 Market Dynamics
- 4.2.1 Drivers
- 4.2.1.1 Adoption of advanced waste treatment technologies and practies
- 4.2.2 Restraints
- 4.2.2.1 Lack of proper waste management infrastructure
- 4.2.3 Opportunities
- 4.2.3.1 Integrations of advanced technologies
- 4.3 Government Policies And Initiatives In Waste Management
- 4.4 Value Chain/ Supply Chain Analysis
- 4.5 Technological Advancements
- 4.6 Industry Attractiveness - Porter's Five Forces Analysis
- 4.7 Insights on the Logisitcs support and development in the waste management industry in Vietnam
- 4.8 Insights on the strategies of the rising startups venturing into the Vietnamese waste management industry
- 4.9 Impact of COVID-19 on the Waste Management Market in Vietnam
5. MARKET SEGMENTATION (Market Size by Value and Volume)
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5.1 By Waste type
- 5.1.1 Industrial waste
- 5.1.2 Municipal solid waste
- 5.1.3 Hazardous waste
- 5.1.4 E-waste
- 5.1.5 Plastic waste
- 5.1.6 Bio-medical waste
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5.2 By Disposal methods
- 5.2.1 Landfill
- 5.2.2 Incineration
- 5.2.3 Recycling
6. COMPETITIVE LANDSCAPE
- 6.1 Overview (Market Concentration and Major Players)
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6.2 Company Profiles
- 6.2.1 CITENCO
- 6.2.2 SGS VietNam
- 6.2.3 Green Environment Production Services Trade Co. Ltd
- 6.2.4 Vietnam Australia Environment JSC
- 6.2.5 Dai Lam Son Co. Ltd (DALASO)
- 6.2.6 VN Green Environment Joint Stock Company
- 6.2.7 Vietnam Clean Environmental Treatment Co. Ltd
- 6.2.8 Urban Environment Company
- 6.2.9 Vietnam Waste Solutions
- 6.2.10 INSEE ECOCYCLE
- 6.2.11 Tan Phat Tai Co Ltd*
- *List Not Exhaustive
7. FUTURE GROWTH PROSPECTS OF THE VIETNAM WASTE MANAGEMENT INDUSTRY
8. APPENDIX
** Subject To AvailablityWaste Management in Vietnam Industry Segmentation
The Waste management (or waste disposal) market includes the activities and actions required to manage waste from its inception to its final disposal. This includes the collection, transport, treatment and disposal of waste, together with monitoring and regulation of the waste management process.
The Vietnam waste management report offers a complete background analysis of the Vietnamese Waste management market, which includes an assessment of the economy and the contribution of sectors in the economy, market overview, market size estimation for key segments, and emerging trends in the market segments, market dynamics, covered in the report. The report also covers the impact of COVID-19 on the market.
The report is segmented by waste type (Industrial waste, Municipal solid waste, Hazardous waste, E-waste, Plastic waste, Bio-medical waste), by Disposal methods (Landfills, Incineration, Recycling). For each segment, the market sizing and forecasts have been done on the basis of volume (tons) and value (USD).
| By Waste type | Industrial waste |
| Municipal solid waste | |
| Hazardous waste | |
| E-waste | |
| Plastic waste | |
| Bio-medical waste | |
| By Disposal methods | Landfill |
| Incineration | |
| Recycling |
Waste Management in Vietnam Market Research FAQs
How big is the Vietnam Waste Management Market?
The Vietnam Waste Management Market size is expected to reach USD 6.98 billion in 2024 and grow at a CAGR of 6.84% to reach USD 9.73 billion by 2029.
What is the current Vietnam Waste Management Market size?
In 2024, the Vietnam Waste Management Market size is expected to reach USD 6.98 billion.
Who are the key players in Vietnam Waste Management Market?
CITENCO, Tan Phat Tai Co., Ltd, Green Environment Production – Services – Trade Co., Ltd, SGS VietNam and Vietnam Australia Environment JSC are the major companies operating in the Vietnam Waste Management Market.
What years does this Vietnam Waste Management Market cover, and what was the market size in 2023?
In 2023, the Vietnam Waste Management Market size was estimated at USD 6.50 billion. The report covers the Vietnam Waste Management Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Vietnam Waste Management Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Waste Management in Vietnam Industry Report
Statistics for the 2024 Waste Management in Vietnam market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Waste Management in Vietnam analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
