Dublin, July 24, 2024 (GLOBE NEWSWIRE) -- The "Vietnam Corrugated Packaging Industry Research Report 2024-2033" report has been added to ResearchAndMarkets.com's offering.
With the rapid development of Vietnam's manufacturing and logistics industries, the corrugated paper products industry is also expected to grow rapidly in the coming years. The analyst predicts that the market size of the corrugated packaging industry in Vietnam will reach US$ 3.06 billion by 2033, with an annual compound growth rate (CAGR) of 11.6% from 2024 to 2033.
The packaging industry is one of the fastest-growing sectors in Vietnam, expected to grow at a high rate of 15%-20% in the future. As of the end of 2023, Vietnam has over 900 packaging companies and factories, with nearly 70% of them located in the southwestern regions such as Ho Chi Minh City, Binh Duong Province, and Dong Nai Province.
The paper product packaging sector is the largest segment within Vietnam's packaging production industry, with corrugated packaging being one of its most crucial categories. In 2023, the market size for corrugated packaging in Vietnam was approximately US$1.02 billion, with a year-on-year growth of 3.5%.
The main downstream users of the corrugated packaging industry in Vietnam are the manufacturing and logistics sectors. Manufacturing is one of the three core economic pillars in Vietnam, with its manufacturing output growing approximately fivefold from 2010 to 2022 and surpassing US$100 billion in 2022, accounting for 25% of the GDP. The analyst notes that Vietnam focuses on developing its export manufacturing sector through open trade policies and business-friendly environments, doubling its ratio of manufactured goods in exports from 43% to 86% from 2000 to 2022, making it the largest export manufacturing country in Southeast Asia.
Moreover, with Vietnam's continued economic development and population growth, packaged food, bottled beverages, cosmetics, and personal care are expected to grow steadily during the forecast period. Analysis shows that rapid growth in Vietnam's manufacturing exports and the expansion of domestic consumer markets have increased the demand for corrugated packaging.
In the logistics sector, the rise of e-commerce has spurred the market demand for corrugated packaging. In 2023, Vietnam's B2C e-commerce revenue reached US$20.5 billion, up from US$8 billion in 2018, accounting for nearly 8% of the total national retail sales of goods and services. According to predictions, over 60% of Vietnam's population of more than 100 million will shop online by 2024.
As internet users increase and infrastructure improves, online shopping will become a significant aspect of Vietnamese consumers' lives. Corrugated packaging, with its low cost, environmental friendliness, recyclability, and durability, meets the e-commerce industry's needs to reduce packaging and transportation costs. Moreover, corrugated packaging can also meet consumers' specific needs through printing and design.
Currently, the market concentration of corrugated packaging in Vietnam is relatively low, with intense competition still present. According to analysis, key players in the Vietnamese corrugated packaging market include Song Lam Trading & Packaging Production Co. Ltd, Khang Thanh Manufacturing Co., Ltd, and Binh Minh Pat Co. Ltd. Foreign or joint-venture companies like Oji Interpack Vietnam Co. Ltd, Tetra Pak International SA, and Bien Hoa Packaging Joint Stock Company (Rengo Co. Ltd) also have a presence in the Vietnamese market. In recent years, climate change and other ecological issues have become increasingly significant, leading many companies to explore environmentally friendly options at the raw material end of corrugated packaging.
Topics covered:
- Overview of the Corrugated Packaging Industry in Vietnam
- Economic and Policy Environment for Corrugated Packaging in Vietnam
- How foreign investors can enter Vietnam's corrugated packaging market
- Market Size of Corrugated Packaging in Vietnam, 2019-2023
- Analysis of Major Corrugated Packaging Manufacturers in Vietnam
- Key Drivers and Market Opportunities for the Corrugated Packaging Industry in Vietnam
- What are the main drivers, challenges, and opportunities for the Vietnamese corrugated packaging industry during the forecast period of 2024-2033?
- What is the projected revenue for the Vietnamese corrugated packaging market during the forecast period of 2024-2033?
- What strategies have major market players adopted to increase their market share in this industry?
- Which segment of the Vietnamese corrugated packaging market is expected to dominate by 2033?
- Market Forecast for the Vietnamese Corrugated Packaging Industry, 2024-2033
- What are the major adverse factors facing the corrugated packaging industry in Vietnam?
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 80 |
| Forecast Period | 2024 - 2033 |
| Estimated Market Value (USD) in 2024 | $1.13 Billion |
| Forecasted Market Value (USD) by 2033 | $3.05 Billion |
| Compound Annual Growth Rate | 11.6% |
| Regions Covered | Vietnam |
Key Topics Covered:
1. Overview of Vietnam
1.1. Geographical Overview
1.2. Population Structure
1.3. Economic Profile
1.4. Minimum Wage Standards (2014-2024)
1.5. Impact of COVID-19 on the Corrugated Packaging Industry
2. Development Environment of the Vietnamese Corrugated Packaging Industry
2.1. Economic Context
2.1.1. Current State of the Packaging Industry
2.1.2. Analysis of Corrugated Packaging Usage
2.2. Core Technologies in Corrugated Packaging
2.3. Regulatory Environment
2.3.1. Key Government Policies
2.3.2. Foreign Investment Policies
2.4. Analysis of Operating Costs
2.4.1. Labor Costs
2.4.2. Electricity Costs
2.4.3. Factory Rental Costs
2.4.4. Raw Materials Costs
2.5. Foreign Investment Status
3. Supply and Demand Status of the Vietnamese Corrugated Packaging Industry
3.1. Supply Analysis
3.1.1. Capacity Overview
3.1.2. Production Analysis
3.2. Demand Analysis
3.2.1. Consumption Volume and Value
3.2.2. Industry-specific Demand
3.2.2.1. Manufacturing Industry
3.2.2.2. Logistics Industry
3.3. Price Trends (2021-2024)
4. Import and Export Dynamics (2019-2023)
4.1. Import Analysis
4.1.1. Import Volume and Value
4.1.2. Main Import Sources
4.2. Export Analysis
4.2.1. Export Volume and Value
4.2.2. Key Export Destinations
5. Market Competition Analysis
5.1. Entry Barriers
5.1.1. Brand Recognition
5.1.2. Quality Standards
5.1.3. Capital Requirements
5.2. Competitive Dynamics
5.2.1. Supplier Bargaining Power
5.2.2. Consumer Bargaining Power
5.2.3. Industry Competition
5.2.4. New Entrants
5.2.5. Packaging Alternatives
6. Analysis of Major Corrugated Packaging Brands in Vietnam
6.1. Song Lam Trading & Packaging Production Co. Ltd
6.2. Oji Interpack Vietnam Co. Ltd
6.3. Khang Thanh Manufacturing Co. Ltd
6.4. Binh Minh Pat Co. Ltd
6.5. Tetra Pak International SA
6.6. Bien Hoa Packaging Joint Stock Company (Rengo Co. Ltd)
6.7. HC Packaging Vn Company Limited
6.8. Starprint Vietnam Jsc
6.9. New Asia Industries Co., Ltd. (SCG)
6.10. Hiep Luc Carton Box Private Enterprise
7. 2024-2033 Outlook for the Vietnamese Corrugated Packaging Industry
7.1. Development Factors
7.1.1. Growth Drivers and Opportunities
7.1.2. Industry Threats and Challenges
7.2. Supply Forecast
7.3. Demand Forecast
7.4. Import and Export Projections
7. Future Outlook (2024-2033)
7.1. Development Factors
7.1.1. Growth Drivers and Opportunities
7.1.2. Industry Challenges
7.2. Supply Forecast
7.4. Import and Export Projections
For more information about this report visit https://www.researchandmarkets.com/r/ks5xg8
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