Vietnam Paper Packaging Market, By Type (Folding Cartons, Corrugated Boxes, Other Types); By End-user Industry (Food & Beverages, Healthcare, Personal Care & Household Care, Industrial, and Other End-user Industries), Trend Analysis, Competitive Landscape

Vietnam Paper Packaging Market, By Type (Folding Cartons, Corrugated Boxes, Other Types); By End-user Industry (Food & Beverages, Healthcare, Personal Care & Household Care, Industrial, and Other End-user Industries), Trend Analysis, Competitive Landscape & Forecast, 2019–2029

Vietnam Paper Packaging Market Size Set to Touch USD 2 Billion by 2029

Vietnam paper packaging market is gaining traction because of the increasing demand for carton paper from the e-commerce sector and stringent regulations on plastic packaging.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the Vietnam paper packaging market size at USD 1.59 billion in 2022. During the forecast period between 2023 and 2029, BlueWeave expects the Vietnam paper packaging market size to grow at a CAGR of 3.58% reaching a value of USD 1.96 billion by 2029. The flourishing e-commerce industry in Vietnam and the increased demand for environmentally friendly packaging are two major development factors for the country's paper packaging market growth. Retailers are switching to paper packaging as a result of rising customer awareness of the drawbacks of plastic packaging, which is predicted to create growth opportunities for the Vietnam paper packaging market over the course of the forecast period.

Vietnam Paper Packaging Market – Overview

Paper packing is a type of packaging manufactured from paper. This kind of packaging is used to pack, store, and transport items, helping to protect the product within from the effects of transit and storage. There are three main categories of paper packaging: corrugated boxes, boxboard or paperboard cartons, and paper bags and sacks. Packaging made of paper (and cardboard) has several advantages, including the ability to be reused, ease of storage, substantial bulk discounts, and superior printing and branding.

Vietnam Paper Packaging Market

Segmental Information

Vietnam Paper Packaging Market – By End-User Industry

Based on end-user industry, the Vietnam paper packaging market is segmented into food & beverages, healthcare, personal care & household care, industrial, and other end-user industries. The food & beverages industry dominates the Vietnam paper packaging market by end-user industry. Paper & paperboard packaging is prominently used for various purposes, such as milk cartons, baking papers, ice cream cups, and others. It is gaining popularity among major fast food chains, such as McDonald’s or Domino's due to increasing consumer awareness.

Impact of COVID-19 on Vietnam Paper Packaging Market

The unprecedented COVID-19 pandemic proliferated the growth of the Vietnam paper packaging market. Although Vietnam was among the least affected countries, the market witnessed significant demand from the food and beverage and e-commerce sectors. Consumers rapidly shifted towards online stores for their daily grocery needs and other products such as clothes, which resulted in a significant spike in e-commerce shipments, boosting the overall market demand for paper packaging in Vietnam. Furthermore, the market also gained traction owing to the rising demand for paper packaging in the healthcare sector.

Competitive Landscape

Major players operating in the Vietnam paper packaging market include 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.), and HC Packaging VN Company Limited.

To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and the Vietnam Paper Packaging Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the Vietnam Paper Packaging Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.