In Vietnam, the metal can packaging industry, which includes both 2-piece and 3-piece cans, is expected to reach USD 2.45 billion by 2029, growing at a compounded annual growth rate (CAGR) of 3.07% from USD 2.11 billion in 2024. Specifically, 3-piece cans are popular for packaging food products due to their versatility in size and shape, catering to a variety of food items from processed meats to fruits and vegetables. These cans are constructed from three separate components: a cylindrical body, a top, and a bottom, which are then seamed together, offering flexibility in design and customization for branding purposes.
The market’s expansion is supported by Vietnam’s increasing urbanization and the resultant demand for convenience foods. As lifestyles become busier, the need for ready-to-eat meals increases, which in turn boosts the demand for robust packaging solutions like metal cans that can extend shelf life while preserving food quality. Moreover, the beverage industry, particularly the market for beer and carbonated drinks, has also contributed to the growth of 3-piece can usage due to the cans’ ability to maintain carbonation and protect contents from light and oxygen.
Vietnam Metal Packaging Market Analysis
The Vietnam Metal Packaging Market is expected to register a CAGR of 3.81% during the forecast period.
- Packaging made primarily of metals, such as steel and aluminum, is referred to as metal packaging. A few significant benefits of adopting metal packaging are its resistance to impact, capacity to withstand severe temperatures, ease of long-distance shipping, and others. Due to the high demand for canned food, particularly in busy metropolitan areas, the usage of the product for canning food is rising in popularity, which helps in the market’s growth.
- The product’s durability and ability to withstand high pressure make it a popular choice in the fragrance industry too. Additionally, the growing demand for luxury goods packaged in metal, such as cookies, coffee, tea, and other goods, leads to a rise in the usage of metal-based packaging. Source: https://www.mordorintelligence.com/industry-reports/vietnam-metal-packaging-market
(data from https://www.mordorintelligence.com/industry-reports/vietnam-metal-packaging-market)
Key players in this market include Canpac Vietnam Co. Ltd, Showa Aluminum Can Corporation, TBC-Ball Beverage Can VN Ltd., Vietnam Baosteel Can Co. Ltd, and Royal Can Industries Company Limited. These companies are not only focusing on increasing production capacity but also on enhancing the sustainability of their products by investing in recycling initiatives and eco-friendly manufacturing processes.
The sector faces challenges such as the need for continuous innovation to meet changing consumer preferences and regulatory standards concerning food safety and environmental impact. However, opportunities abound with the rising consumer awareness towards sustainable packaging, pushing manufacturers to adopt more recyclable materials and reduce waste.
The 3-piece can metal packaging market in Vietnam is poised for further growth, underpinned by the country’s economic development, increasing middle-class consumption, and a shift towards environmentally friendly packaging solutions. This sector’s trajectory will likely see it playing a pivotal role in Vietnam’s packaging landscape, aligning with global trends while addressing local market needs.
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Post time: Jan-11-2025