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
Other Reports That Might Be of Your Interest:
- High-Barrier Packaging Film Market Report – The global high-barrier packaging film market is expected to witness a CAGR of 5% in the upcoming years.
- Vietnam Metal Can Packaging Market Report - The Vietnamese metal can packaging market size is estimated at USD 2.04 billion in 2023. It is expected to reach USD 2.37 billion by 2028, registering a CAGR of 3.07% during the forecast period (2023-2028).
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).
Mordor Intelligence constantly tracks industry trends. Some relevant market reports from the analysts that might be of interest to you:
- Asia-Pacific Packaging Tapes Market Report - The Asia-Pacific packaging tapes market is projected to register a CAGR of over 6% over the next five years.
- Foodservice Disposable Packaging Market Report - The global foodservice disposable packaging market is expected to register a CAGR of 5.1% over the next five years.
- Indonesia Metal Packaging Market Report - The Indonesian metal packaging market is expected to register a CAGR of 3.6% over the next five years.
About Mordor Intelligence:
Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.
Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the competitive landscape of the industry.
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