Plastic packaging, driven by increasing demand from both food and non-food sectors, remains the most attractive packaging segment in Vietnam. Flexible packaging segment, including multi-layered and mono-layered packaging, dominates the market, accounting for 75% of the total market size in 2023. In which, plastic bags remain the cornerstone of this segment, contributing a significant 15% to Vietnam's plastic export turnover.
Competitive Landscape: The plastic packaging market in Vietnam is fragmented with the participation of approximately 720 players, primarily dominated by local manufacturers.
End-use Segments Driving the Market: Soft drink, packaged food, and home & personal care are among the major end-use customer segments, driving the plastic packaging market in Vietnam, supported by solid and stable consumer preferences.
Key Development Trends: Sustainable development initiatives from the government (i.e ERP regulations and eco-label criteria) and commitments of brand-owners are the key trends in packaging solutions, expected to boost plastic packaging demand in Vietnam in the coming period.
Moving forward, the outlook for plastic packaging remains optimistic, aligned with the steady growth of this market. This market remains one of the most promising packaging segments in Vietnam, indicating a huge potential for both domestic and foreign investors to tap on.
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Date: 29/08/2024
Date: 29/08/2024
Date: 26/08/2024