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The Vietnam Glass Packaging Market is in growth as firms and consumers focus on a sustainable solution. Glass packaging is becoming relevant, with an alternative eco-friendly option due to its recyclable nature, along with the premium appeal of glass. The soft drink market and particularly the premium alcohol markets are a large driver for the consumption of glass packaging: nothing else would be as tastefully preserved in quality.
In the pharmaceutical market, glass packaging remains preferred because it prevents any contamination of delicate medical products, ensuring the integrity of drugs and vaccines. The high-end products, perfumes and skincare items, are being made in glass by the cosmetics industry because it has a luxurious appearance while meeting the upsurge in consumer demand for sustainable content.
Drivers: More than any other factor currently influencing growth in demand for glass packaging in Vietnam is the increasing preference of consumers to have eco-friendly packaging. Consumers are now more conscious of what they choose, which may affect the environment and thus prefer glass over plastic.
The manufacturers find that the only inherent drawbacks of glass are production costs, which were very high, and fragility, which required extreme care in its handling. Glass is heavier as compared to plastic; therefore, its transport and other logistics costs run too high for that, and thus not considered for lower or mass-market products.
Lighter glass and advances in manufacturing technology have opened up possibilities to reduce costs and make glass packaging highly competitive in markets like beverages, cosmetics, and toiletries.
The Vietnam Glass Packaging market was valued at USD 1.1 billion in 2023. This market is expected to grow at a CAGR of 6.3% from 2024 to 2028 due to increased demand by the beverage, pharmaceutical, and cosmetics sectors. The market is therefore expected to expand up to around the USD 1.5 billion mark by 2028, at least going by the shift towards sustainability, government regulations towards eco-friendly materials, and the innovation being made in glass packaging technology.
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The Vietnam Glass Packaging Market is dominated by international brands such as O-I Vietnam, Verallia, and Vitro. Of late, these companies have been solely trying to innovate green glass packing products.
Local vendors have lately emerged to be strong competitors in the market for glass packaging. They have been catering to specific needs of local markets, especially in food and beverages industries, which gives them an edge over the competitors.
There has been an increase in strategic cooperation with brands within the beverage and pharmaceutical industries as the companies continue to offer premium and sustainable packaging solutions. This can be the direction through which the market will be positively impacted in the years going forward.
The major challenge in the competitive landscape is still sustainability. Companies invest in recycling technologies and innovations around lightweight glass to ensure minimal impact on the environment while at the same time being cost-effective.
