Vietnam Warehousing Market Report and Forecast 2024-2032

Vietnam Warehousing Market Outlook

The Vietnam warehousing market is expected to witness a healthy growth, expanding at a CAGR of 11% in the forecast period of 2024-2032.

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Increasing Demand for Cold Storage Warehousing to Augment the Vietnam Warehousing Industry Growth

In recent years, there has been a rise in demand for climate-controlled warehouses globally. As many consumable products are perishable but are required to be stored for a longer period, the use of cold storage facilities help to increase the shell life of such products. This also helps the traders and companies to coordinate with the demand and supply of seasonal fruits and vegetables. Furthermore, these warehouses are ideal for products that require special handling, including flowers, drugs, and others.

Vietnam is a country with a dynamic population, growing economy, and rising middle class. The market in Vietnam is being supported by the growing warehousing industry in Southeast Asia. Being one of the most dynamic emerging countries in East Asia region, warehousing facilities in the form of public and private warehouses, cold chains, container yards, and others are essential to ensure Vietnam’s growth. Further, growing public and private partnerships allow businesses to expand their services to include other logistics activities like transportation, inventory control, and customer services. This, along with the growing penetration of leading players, is aiding the growth of the Vietnam warehousing industry. For instance, warehousing giant GLP has recently launched a joint venture worth USD 1.5 billion in Vietnam, marking its debut in the country.

Warehousing: Market Segmentation

Warehouse simply refers to a commercial building or a huge space/godown, where goods are kept and stored in bulk. It is mainly used to manage the distribution of goods and to prevent losses and damages that may arise if these goods are not stored properly or securely. Warehouse helps undertake functions like sorting, packing, labelling, and others.

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By type, the market is divided into:

• General Warehousing
• Cold Storage Warehousing
• Others

Based on ownership, the industry can be segmented into:

• Bonded Warehouses
• Non-Bonded Warehouses
• Others

The market is divided based on end use into:

• Consumer Goods
• Textile and Footwear
• Retail
• Food and Beverage
• Wooden Products
• Healthcare
• Chemicals
• Others

The regional markets for warehousing include Southern and Northern Vietnam.

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Increasing Urbanisation and the Thriving E-Commerce Sector to Bolster the Growth of the Warehousing Industry in Vietnam

Warehousing plays a vital role in smooth functioning of a supply chain network and meet domestic and international market demands. As Vietnam is an emerging country and is witnessing robust urbanisation, the warehousing facilities have significantly improved across the region. Warehousing facilitates mass production and reduces tariff barriers, providing benefits like cost competitiveness, economies of scale and scope, reduced labour cost, technological integration, and others. Moreover, the increasing e-commerce penetration in the country is further bolstering the market growth. Over the forecast period, the growing shift towards automation and the increasing establishment of automated warehouses in the country are expected to significantly contribute to the Vietnam warehousing industry growth.

Key Industry Players in the Vietnam Warehousing Market

The report gives a detailed analysis of the following key players in the Vietnam warehousing market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• Sumitomo Warehouse (Vietnam) Co., Ltd.
• Fnm Shipping Vietnam
• Yusen Logistics Co., Ltd.
• Vinatech Group
• Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

Key Highlights of the Report