Vietnam: Tobacco Making Machinery Market 2024

Tobacco Making Machinery Market Size in Vietnam

The Vietnamese tobacco making machinery market declined sharply to $X in 2022, waning by -36.5% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, showed noticeable growth. As a result, consumption attained the peak level of $X, and then shrank markedly in the following year.

Tobacco Making Machinery Exports

Exports from Vietnam

In 2022, shipments abroad of machinery for the preparation or making up of tobacco increased by 5.7% to X units, rising for the fourth consecutive year after two years of decline. Over the period under review, exports recorded a buoyant increase. The growth pace was the most rapid in 2016 with an increase of 525%. Over the period under review, the exports reached the maximum in 2022 and are likely to see gradual growth in the immediate term.

In value terms, tobacco making machinery exports reduced modestly to $X in 2022. In general, exports, however, saw a pronounced reduction. The pace of growth was the most pronounced in 2016 with an increase of 298% against the previous year. As a result, the exports attained the peak of $X. From 2017 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Malaysia (X units) was the main destination for tobacco making machinery exports from Vietnam, accounting for a 94% share of total exports. It was followed by Indonesia (X units), with a 3% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Malaysia amounted to +72.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+9.6% per year) and Singapore (-18.8% per year).

In value terms, Malaysia ($X) remains the key foreign market for machinery for the preparation or making up of tobacco exports from Vietnam, comprising 97% of total exports. The second position in the ranking was taken by Indonesia ($X), with a 2.1% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Malaysia amounted to +44.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (-15.7% per year) and Singapore (-37.0% per year).

Export Prices by Country

The average tobacco making machinery export price stood at $X per unit in 2022, waning by -9.5% against the previous year. Overall, the export price showed a abrupt descent. The pace of growth was the most pronounced in 2013 an increase of 39% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2014 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Malaysia ($X per unit), while the average price for exports to Singapore ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (-15.0%), while the prices for the other major destinations experienced a decline.

Tobacco Making Machinery Imports

Imports into Vietnam

In 2022, approx. X units of machinery for the preparation or making up of tobacco were imported into Vietnam; falling by -33% against 2021. In general, imports, however, showed a remarkable increase. The pace of growth appeared the most rapid in 2021 when imports increased by 214%. As a result, imports reached the peak of X units, and then fell rapidly in the following year.

In value terms, tobacco making machinery imports declined significantly to $X in 2022. Over the period under review, imports, however, recorded a perceptible expansion. The most prominent rate of growth was recorded in 2021 with an increase of 331% against the previous year. As a result, imports reached the peak of $X, and then reduced remarkably in the following year.

Imports by Country

Hungary (X units), Poland (X units) and Germany (X units) were the main suppliers of tobacco making machinery imports to Vietnam, together comprising 77% of total imports.

From 2012 to 2022, the biggest increases were recorded for Poland (with a CAGR of +151.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Hungary ($X), Poland ($X) and Germany ($X) were the largest tobacco making machinery suppliers to Vietnam, together accounting for 76% of total imports.

In terms of the main suppliers, Poland, with a CAGR of +198.7%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average tobacco making machinery import price amounted to $X per unit, which is down by -8.1% against the previous year. In general, the import price recorded a noticeable setback. The most prominent rate of growth was recorded in 2020 when the average import price increased by 73%. Over the period under review, average import prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Italy ($X per unit), while the price for France ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+20.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :