Vietnam: Market for Manufactured Tobacco, Extracts And Essences 2024

Market Size for Manufactured Tobacco, Extracts And Essences in Vietnam

In 2021, the Vietnamese market for manufactured tobacco, extracts and essences decreased by -47.9% to $X, falling for the second consecutive year after three years of growth. Over the period under review, consumption faced a abrupt curtailment. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Exports of Manufactured Tobacco, Extracts And Essences

Exports from Vietnam

In 2021, the amount of manufactured tobacco, extracts and essences exported from Vietnam shrank notably to X tons, reducing by -39.4% compared with 2020. In general, exports faced a deep setback. The pace of growth was the most pronounced in 2014 with an increase of 236%. Over the period under review, the exports reached the maximum at X tons in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

In value terms, manufactured tobacco, extracts and essences exports fell sharply to $X in 2021. Over the period under review, exports showed a dramatic decline. The pace of growth appeared the most rapid in 2014 with an increase of 239%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Afghanistan (X tons), Georgia (X tons) and Cambodia (X tons) were the main destinations of manufactured tobacco, extracts and essences exports from Vietnam, together comprising 73% of total exports. These countries were followed by Lao People's Democratic Republic, the Philippines, Taiwan (Chinese) and Singapore, which together accounted for a further 25%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Taiwan (Chinese) (with a CAGR of +21.4%), while the other leaders experienced a decline.

In value terms, the largest markets for manufactured tobacco, extracts and essences exported from Vietnam were Cambodia ($X), the Philippines ($X) and Afghanistan ($X), with a combined 59% share of total exports. Georgia, Lao People's Democratic Republic, Taiwan (Chinese) and Singapore lagged somewhat behind, together accounting for a further 33%.

Lao People's Democratic Republic, with a CAGR of +1.6%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2021, the average export price for manufactured tobacco, extracts and essences amounted to $X per ton, surging by 20% against the previous year. In general, the export price, however, saw a abrupt decline. The pace of growth was the most pronounced in 2017 an increase of 50%. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($X per ton), while the average price for exports to Afghanistan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the Philippines (+50.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Manufactured Tobacco, Extracts And Essences

Imports into Vietnam

In 2021, overseas purchases of manufactured tobacco, extracts and essences decreased by -39.8% to X tons, falling for the third year in a row after five years of growth. Over the period under review, imports continue to indicate a deep contraction. The pace of growth was the most pronounced in 2017 when imports increased by 49% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, manufactured tobacco, extracts and essences imports shrank notably to $X in 2021. Overall, imports faced a abrupt descent. The most prominent rate of growth was recorded in 2018 when imports increased by 101%. Over the period under review, imports reached the maximum at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of manufactured tobacco, extracts and essences to Vietnam, accounting for a 59% share of total imports. Moreover, manufactured tobacco, extracts and essences imports from China exceeded the figures recorded by the second-largest supplier, Lao People's Democratic Republic (X tons), sevenfold. Spain (X tons) ranked third in terms of total imports with an 8.5% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +2.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Lao People's Democratic Republic (-11.3% per year) and Spain (+13.2% per year).

In value terms, China ($X), Lao People's Democratic Republic ($X) and Kazakhstan ($X) constituted the largest manufactured tobacco, extracts and essences suppliers to Vietnam, together accounting for 68% of total imports.

In terms of the main suppliers, Kazakhstan, with a CAGR of +22.5%, recorded 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 2021, the average import price for manufactured tobacco, extracts and essences amounted to $X per ton, falling by -28.4% against the previous year. Over the period under review, the import price continues to indicate a slight reduction. The pace of growth was the most pronounced in 2013 an increase of 91% against the previous year. The import price peaked at $X per ton in 2019; however, from 2020 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Kazakhstan ($X per ton), while the price for the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Lao People's Democratic Republic (+8.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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