The new report by Expert Market Research titled, ‘Vietnam Warehousing Market Analysis, Share, Price, Trends, Growth, Report and Forecast 2023-2028’, gives an in-depth analysis of the Vietnam warehousing market, assessing the market based on its segments like end use, ownership, type, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028)
- Forecast CAGR (2023-2028): 11%
Warehousing is essential to the effective operation of a supply chain network and the fulfilment of domestic and foreign consumer demands. Since Vietnam is a developing country with rapid urbanization, warehousing facilities have greatly improved in the region. Warehousing promotes mass production and lowers tariff barriers, resulting in cost-competitiveness, economies of scale and reach, lower labor costs, and technical convergence, among other advantages.
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Furthermore, the country’s rising e-commerce penetration is fueling market growth even more. The increasing shift toward automation and the establishment of automated warehouses in the country are expected to significantly contribute to the growth of the Vietnam warehousing industry over the forecast period.
Industry Definition and Major Segments
A warehouse is essentially a commercial structure or a large space/godown where bulk products are housed and stored. Its primary purpose is to control the delivery of goods and to avoid accidents and liabilities that may occur if these goods are not adequately or securely stored. Sorting, packaging, labeling, and other tasks are made easier with the aid of a warehouse.
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Based on type, Vietnam warehousing market can be divided into:
- General Warehousing
- Cold Storage Warehousing
Based on ownership, Vietnam warehousing market can be divided into:
- Bonded Warehouses
- Non-Bonded Warehouses
By End Use, the market can be divided into:
- Consumer Goods
- Textile and Footwear
- Food and Beverage
The country’s booming manufacturing, retail, FMCG, and advent of third-party logistics and super grid logistics sectors drive the warehousing industry. Furthermore, government policies that encourage market growth, such as the establishment of logistic parks and free trade warehouse zones, are expected to fuel market growth. Besides, technological advances in the warehousing industry, such as the launch of AI, IoT, and 3D printing, among others, are expected to generate lucrative opportunities in the coming years.
However, due to the strict lockdown measures and reduced manufacturing activities, the sudden outbreak and spread of COVID-19 would have a short-term effect on warehousing demand. Furthermore, it will assist in the strengthening of the Vietnams warehousing industry because of consumers’ changing preferences from offline to online shopping to adhere to social distancing norms.
Key Market Players
The major players in the market are Sumitomo Warehouse (Vietnam) Co., Ltd., Fnm Shipping Vietnam, Yusen Logistics Co., Ltd., Vinatech Group, and others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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