Vietnam Paper Packaging Market Revenues to Reach USD 3.77 billion by 2028 - Market Size, Share, Forecasts, & Trends Analysis Report by Mordor Intelligence

Hyderabad, July 03, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled "Vietnam Paper Packaging Market Report (2023-2028)," the market is estimated at USD 2.37 billion in 2023. It is expected to register a CAGR of 9.73% during the forecast period.

The paper packaging market in Vietnam is expected to grow significantly due to its stable economy, high urbanization rate, and increasing demand from industries like packaged foods, bottled beverages, cosmetics, personal care, healthcare, home care, and retail. Vietnam relies on imported raw materials for paper production because of its lack of adequate forest resources.

Report Summary:

Report Attribute Details
Market Size (2023) USD 2.37 billion
Market Size (2028) USD 3.77 billion
CAGR (2023-2028) 9.73%
Study Period 2018-2028
Forecast Units Value (USD billion)
Report Scope Market Dynamics, Revenue Forecast and Segmentation, Competitive Landscape and Recent Developments, Market Growth, Future Opportunities, and Trends.
Key Market Drivers Stable economic situation.
High urbanization rate.

Who are the Top Companies in the Vietnam Paper Packaging Market?

The packaging industry in Vietnam is highly competitive. The focus on climate change and ecological concerns is forcing market players to change their strategies. The market is fragmented due to continuous innovations and expansions in various paper-based applications.

Noteworthy players in the Vietnamese paper packaging market in 2023 are,

  • Song Lam Trading & Packaging Production Co. Ltd
  • Huhtamaki Oyj
  • Minh Viet Packaging One Member Co. Ltd (Dongwon Systems)
  • Tetra Pak International SA
  • Oji Interpack Vietnam Co. Ltd
  • Khang Thanh Co. Ltd
  • Hanh Packaging Co. Ltd
  • New Asia Industries Company (SCG)
  • Binh Minh Pat Co. Ltd
  • Bien Hoa Packaging Joint Stock Company (Rengo Co. Ltd)
  • HC Packaging VN Company Limited
  • Starprint Vietnam JSC
  • Viet Thang Package Co. Ltd
  • Doanket Commercial and Packaging Production Company Limited

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Key Highlights from the Vietnamese Paper Packaging Market Report:

E-commerce Sector Driving Carton Paper Demand

  • Vietnam is aiming for a double-digit annual growth rate in the turnover of e-commerce over the next five years.
  • The demand for carton packaging is increasing in both the electronics and cosmetic sectors in Vietnam due to the need for protective packaging and emerging beauty trends.

Food and Beverage Industry Holding its Stronghold

  • The food packaging sector in Vietnam is growing, leading to increased demand for eco-friendly packaging alternatives to replace disposable plastic products.
  • The liquid food market is expected to continue growing in the country, driven by higher income, better nutrition awareness, and increased consumption of dairy products.

What are the Latest Developments in the Vietnamese Paper Packaging Market?

  • In December 2022, Stora Enso and Huhtamaki funded the Cup Collective program to capture the value of used paper cups through industrial-scale recycling.
  • In August 2022, to increase recycling rates and give independent waste pickers a source of income, Circular Action, Tetra Pak, and Packaging Recycling Organization Vietnam joined forces to launch a carton recycling program in Vietnam.

Mordor Intelligence has Segmented the Vietnamese Paper Packaging Market Based on Type and End-User Industry.

  • By Type (Market Size and Forecast based on Value (USD billion), 2018-2028)
    • Folding Cartons
    • Corrugated Boxes
    • Other Types

  • By End-user Industry (Market Size and Forecast based on Value (USD billion), 2018-2028)
    • Food and Beverage
    • Healthcare
    • Personal Care and Household Care
    • Industrial
    • Other End-user Industries

In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the Vietnam Paper Packaging Market Report (2023-2028).

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Vietnam Paper Packaging Market - Mordor Intelligence

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