VIETNAM PACKAGING INDUSTRY: COST OPTIMIZATION STRATEGIES FOR SUSTAINING GROWTH AMID ECONOMIC SLOWDOWNS
29 October 2024 - 11:36 AM
During the time of economic slowdown and weak consumer spending, understanding the dynamics of the Vietnam Flexible Multilayer Packaging market is essential for businesses and investors seeking sustained growth. Our latest report, "Vietnam Flexible Multilayer Packaging Industry (October 2024)" delivers comprehensive insights into this sector, with a focus on the financial performance of key players in this market.
Key Findings from the Report:
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Market Overview: After an overall growth of the plastic packaging industry from 2018 to 2022, the multilayer flexible plastic packaging segment experienced a 6.8% year-over-year sales decline in 2023, due to the economic slowdowns and weak consumer spending;
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Competitive Insights: Amidst the slowdowns, Tier I companies like Tapack, Huhtamaki, Accredo, and DNP Vietnam offered competitive pricing strategies, keeping their net sales decline at -1.7%;
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Growth Forecasts: The profit margins of Tier I players remained modest, averaging 4.3% in 2023, due to rising production costs and intense competition.
For the full sector preview, kindly access [HERE].
For insights into other key sectors in Vietnam (Plastic, Plastic Packaging, Water Supply, Utilities, Logistics, Energy, Renewable Energy, Cement, Financial Services, M&A, etc.), please visit our website at (https://fiinresearch.vn).
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About FiinGroup
FiinGroup is Vietnam’s leading provider of financial data analytics platforms, business information, market research and consulting, credit ratings, and other data-driven analytics services via Platform as a Service (PaaS), annual package, and on-call services.
To assist potential investors in unlocking the potential of Vietnam's Packaging sector, FiinGroup has successfully supported various local and foreign investors via market assessment, market entry advisory, commercial due diligence, merger filing support and deal advisory to penetrate/ expand their businesses.
For more information about FiinGroup’s support and other investor services and how we can support, please call +84 (24) 3562 6962 or email to research.support@fiingroup.vn.