Sales of plastic bottles in Vietnam are estimated to be valued at USD 844 million in 2023 and are projected to reach USD 1,126.5 million by 2033. Sales of plastic bottles are expected to increase at a CAGR of 2.9% during the forecast period.
Vietnam plastic bottle business was valued at USD 824.2 million in 2022 and is anticipated to exhibit a y-o-y growth of 2.3% in 2023. Small-sized plastic bottles are gaining traction at present, primarily driven by increased adoption in the beverage sector.
Consumers are shifting toward selecting low-capacity plastic bottles for products used infrequently, as longer shelf life could potentially lead to contamination. This trend further boosts the demand. Based on end-use, the food and beverage segment is estimated to hold a share of 30.4% in 2023.
The beverage sector, followed by the pharmaceutical sector, contributes the key portion of the ecosystem. PET plastic bottles are particularly noteworthy due to their adaptability for use with food and beverage products, as well as their aesthetic appeal, transparency, and temperature resistance. These qualities have a positive impact and are set to gain significant traction in the forecast period.
| Attributes | Key Insights |
|---|---|
| Vietnam Plastic Bottle Revenue, 2022 | USD 824.2 million |
| Vietnam Plastic Bottle Business Estimated Revenue, 2023 | USD 844 million |
| Vietnam Plastic Bottle Business Projected Revenue, 2033 | USD 1,126.5 million |
| Value-based CAGR (2023 to 2033) | 2.9% |
The plastic bottle business in Vietnam is expected to experience a lucrative growth outlook during the forecast period. A new estimation predicts that sales will rise from 2023 to 2033 and are projected to generate a total financial potential of USD 302 million.
The demand for plastic bottles in Vietnam is set to be primarily driven by the packaging needs of several businesses, including food and beverages, personal care products, household chemicals, and pharmaceuticals. The beverage business, in particular, has played a crucial role in boosting sales with the rising consumption of bottled water, carbonated drinks, and other beverages.
The personal care and pharmaceutical sectors have witnessed significant growth in Vietnam. With increasing disposable income and a growing emphasis on personal hygiene, the demand for products such as shampoos, lotions, detergents, cleaning agents, and syrup has surged. Plastic bottles can provide an efficient and cost-effective packaging solution for these products, thereby driving sales.
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Vietnam’s plastic bottle business witnessed a CAGR of 1.5% during the historical period. It reached a value of USD 824.2 million in 2022 from USD 777.5 million in 2018. The historical outlook for the plastic bottle business in Vietnam has been positive, driven by changing consumer lifestyles, economic development, and the packaging needs of several sectors.
Over the past several years, the growth of the nutrition industry has significantly fueled the demand for plastic bottles with health-enhancing features. This trend has led to a significant shift in the plastic bottle business, moving away from traditional designs toward bottles equipped with filters, infusers, and mist sprayers.
The plastic bottle business in Vietnam is undergoing a significant transformation, driven by the global trend for sustainability and environmental consciousness. Reusable water bottles have gained widespread preference over single-use bottled water, reflecting the growing awareness of eco-friendly solutions among the population.
In Vietnam, the processes of industrialization and urbanization have been particularly noticeable. This has fueled the expansion of sectors, including personal care, food and beverage, and medicines, that mainly rely on plastic bottles for packaging. The kinds of items eaten and the materials used for packaging have changed as a result of shifting customer tastes and lifestyles.
Vietnam's usage of plastic goods, particularly plastic bottles, has soared, as it has in several other emerging nations. The surging popularity of plastic packaging can be ascribed to its cost, convenience, and adaptability.
Vietnam is not alone in the world, as environmental worries over plastic pollution have grown in importance over time. This can have an impact on the business of plastic bottles by raising knowledge of sustainable packaging options and fostering conversations about them.
To address ecological challenges and encourage sustainable behaviors, the government has put in place several rules. These rules can have an effect on how plastic bottles are made, used, and disposed of, which can change dynamics.
Technological developments in manufacturing have probably contributed to the development of the plastic bottle business. Improvements in productivity and product quality have been made possible by innovations in materials, manufacturing techniques, and design.
In Vietnam, the importance of recycling has increased over time. The goals of recycling programs and awareness raising have been to address the problem of plastic waste and encourage the use of plastic bottles in a more sustainable way. Plastic bottles are still widely used. However, packaging materials have changed as a result of environmental concerns.
Companies are also channeling their investments into research and development to create cost-effective and visually appealing plastic bottles. They are not only striving to distinguish themselves in the business but also aiming to gain a competitive edge in meeting consumer demands.
The table presents the expected CAGR for Vietnam’s plastic bottle business over several semi-annual periods spanning from 2022 to 2033. In the first half (H1) of the decade from 2022 to 2032, the field is expected to surge at a CAGR of 2.8%, followed by a slightly higher growth rate of 3.0% in the second half (H2) of the same decade.
Moving into the subsequent period, from H1 2023 to H2 2033, the CAGR is projected to decrease slightly to 2.7% in the first half and remain relatively moderate at 3.1% in the second half.
| Particular | Value CAGR |
|---|---|
| H1 | 2.8% (2022 to 2032) |
| H2 | 3.0% (2022 to 2032) |
| H1 | 2.7% (2023 to 2033) |
| H2 | 3.1% (2023 to 2033) |
Principal Consultant
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In the table below of the growth potential of plastic bottles in Vietnam, CAGRs of leading countries are provided. Central Vietnam will likely lead the field of plastic bottles by exhibiting a CAGR of 3.9% from 2023 to 2033. The country is set to be followed by Northern Vietnam and Southern Vietnam, with CAGRs of 3.2% and 2.8%, respectively, through 2033.
| Countries | Value (CAGR) |
|---|---|
| Northern Vietnam | 3.2% |
| Central Vietnam | 3.9% |
| Southern Vietnam | 2.8% |
The tourism business in Southern Vietnam has contributed significant growth of the plastic bottle landscape. The region attracts several domestic and international tourists who require bottled and other beverages during their travels. Hence, there is a high demand for plastic bottles in hotels, restaurants, cafes, and tourist attractions. This has led to an increased production and consumption of plastic bottles in the region.
The growth of modern retail channels, such as supermarkets and convenience stores, has boosted the demand for plastic bottles. The Southern Vietnam plastic bottle business is set to generate a potential of USD 214 million in the forecast period. The region is projected to hold 75.9% of the share in the estimated year.
The government is also pressuring bottle manufacturers to employ eco-friendly and sustainable materials after realizing the risks associated with single-use plastic bottles. This factor is expected to encourage consumers to use plastic bottles. The proliferation of plastic bottles in Vietnam is anticipated to be accelerated by this project.
Central Vietnam is expected to showcase a CAGR of 3.9% in Vietnam’s plastic bottle business through 2033. The demand for plastic bottles is influenced by the economic circumstances in Central Vietnam, which include factors such as GDP growth, industrialization, and consumer expenditure. Increased demand for packaging solutions and higher consumption are frequently correlated with economic growth.
Plastic bottles are widely used by the food & beverage, personal care, and pharmaceutical businesses. The demand for plastic packaging is influenced by the existence and expansion of these sectors in the central area. The use of plastic bottles is shaped in large part by local and federal laws pertaining to environmental sustainability, recycling, and plastic consumption.
The kinds of packaging that customers desire are influenced by shifting consumer tastes, particularly an increasing consciousness of environmental problems. Packaging choices that are eco-friendly and sustainable can become more popular in response to customer demand.
The sustainability of plastic bottle consumption in Central Vietnam is influenced by the accessibility and effectiveness of recycling facilities. In the packaging sector, efforts to enhance recycling procedures and lessen environmental effects are becoming important
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The table below highlights the demand for plastic bottles in Vietnam by capacity and material type. Under material type, the PET segment will likely remain dominant in the assessment period with a CAGR of 2.7% by 2033. Based on the capacity, the below 1-liter segment is set to showcase a significant CAGR of 2.5% through 2033 in the field of plastic bottles in Vietnam.
| Segment | Value-based CAGR |
|---|---|
| Below 1 Liter (Capacity) | 2.5% |
| PET (Material) | 2.7% |
Polyethylene terephthalate’s (PET) versatility extends beyond its use in plastic bottles. It is set to be widely adopted in other sectors, such as food & beverage, packaging, pharmaceuticals, and personal care products. This versatility has led to economies of scale in PET production, making it a cost-effective choice for bottle manufacturers.
PET-based bottles lead the business of Vietnam. This is due to the fact that PET-based plastic has an exceptional ability to provide complete safety for food and beverage products. Moreover, the chemical transfer from PET to food items is minimal.
PET-based plastics are more transparent than other type of plastics. This is anticipated to enable future growth. The segment is projected to create a total monetary potential of USD 144.3 million through 2033.
The growing demand for small-sized bottles with the rising need for on-the-go and single-serve products is set to aid sales. With busy lifestyles and a growing preference for convenience, consumers are seeking smaller-sized bottles that can be easily carried and consumed while on the move. This has led to a surging demand for beverages such as juices, energy drinks, and water in compact packaging.
Plastic bottles with below 1-liter capacity are projected to hold 56.3% of the share in the estimated year. The segment is projected to foster a financial potential worth USD 139.6 million during the forecast period.
Key players in Vietnam’s plastic bottle business are gaining value by developing innovations and advancements in the landscape. Leading companies are directed toward product launches and developments to expand their reach. Recent activities and mergers implemented by leading players are:
| Attribute | Details |
|---|---|
| Estimated Vietnam Plastic Bottles Business Revenue (2023) | USD 844 million |
| Projected Vietnam Plastic Bottles Revenue (2033) | USD 1,126.5 million |
| Value-based CAGR (2023 to 2033) | 2.9 % |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in Value USD million, Volume in million units, and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered | Capacity, Material, End-use, Country |
| Key Companies Profiled | Tan Phu Vietnam Joint Stock Company; Công Ty Tnhh Bao Bi Thành Nghia Pet; Honda Plus Vietnam Co Ltd; Duy Tan Plastic Company; Alpla; Phu Tuyen Plastic Co., Ltd; Ngoc Nghai Group; Nhat Tien Manufacturing & Trading Co.; Hon Chuan Vietnam Co., Ltd; Tupperware Vietnam Company Limited; Vietnhat Plastics; Chan Thuan Plastic; Thang Phat Production And Trading Company Ltd |
In 2022, the business size was USD 824.2 million.
The business is anticipated to reach USD 844 million in 2023.
The valuation is expected to reach USD 1,126.5 million in 2033.
The business exhibited around 1.5% CAGR over the last 5 years.
The projected CAGR for the Vietnam plastic bottle business is 2.9%.
The food and beverage segment is expected to garner a significant value share by 2023.
1. Executive Summary 2. Overview 3. Key Trends 4. Key Success Factors 5. PESTLE and Porter 5 Forces Analysis 6. Demand Analysis 2018 to 2022 and Forecast, 2023 to 2033 7. Demand (in Value or Size in US$ million) Analysis 2018 to 2022 and Forecast, 2023 to 2033 8. Background 9. Demand Analysis 2018 to 2022 and Forecast, 2023 to 2033 10. Pricing Analysis 11. Demand (in Value or Size in US$ million) Analysis 2018 to 2022 and Forecast, 2023 to 2033 12. Business Analysis 2018 to 2022 and Forecast 2023 to 2033, By Capacity 12.1. Above 1 Liter 12.2. Below 1 Liter 12.2.1. 20 ml 12.2.2. 50 ml 12.2.3. 100 ml 12.2.4. 250 ml 12.2.5. 500 to 1000 ml 13. Analysis 2018 to 2022 and Forecast 2023 to 2033, By Material 13.1. High-density Polyethylene (HDPE) 13.2. Polyethylene Terephthalate (PET) 13.3. Polypropylene (PP) 13.4. Polyvinyl Chloride (PVC) 14. Business Analysis 2018 to 2022 and Forecast 2023 to 2033, By End-use 14.1. Oleochemicals 14.2. Agrochemicals 14.3. Others (Homecare and Personal Care) 14.4. Paints, Industrial Coatings, Chemicals 14.5. Pharmaceuticals 14.6. Food and Beverages 14.7. Flavor and Fragrances 14.8. Petroleum and Lubricants 15. Business Analysis 2018 to 2022 and Forecast 2023 to 2033, by Region 15.1. Northern 15.2. Central 15.3. Southern 16. Structure Analysis 17. Cross Section Analysis of Business 18. Competition Analysis 18.1. Tan Phu Joint Stock Company 18.2. Công Ty Tnhh Bao Bi Thành Nghĩa Pet 18.3. Honda Plus Co Ltd 18.4. Duy Tan Plastic Company 18.5. Alpla 18.6. Phu Tuyen Plastic Co., Ltd 18.7. Ngoc Nghai Group 18.8. Nhat Tien Manufacturing & Trading Co. 18.9. Hon Chuan Co., Ltd 18.10. Tupperware Company Limited 18.11. Vietnhat Plastics 18.12. Chan Thuan Plastic 18.13. Thang Phat Production And Trading Company Ltd 19. Assumptions and Acronyms Used 20. Research Methodology
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Plastic Bottle Industry Analysis in Vietnam
