Market Size of Vietnam Paper Packaging Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 2.60 Billion |
| Market Size (2029) | USD 4.14 Billion |
| CAGR (2024 - 2029) | 9.73 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Vietnam Paper Packaging Market Analysis
The Vietnam Paper Packaging Market size is estimated at USD 2.60 billion in 2024, and is expected to reach USD 4.14 billion by 2029, growing at a CAGR of 9.73% during the forecast period (2024-2029).
The paper packaging market in Vietnam is expected to expand significantly during the forecast period, with several companies forecasting sales growth in the coming years. The country's stable economic situation and high urbanization rate are expected to drive the use of paper packaging formats.
- Vietnam is a consistently growing market for packaged foods, bottled beverages, and cosmetics in Southeast Asia, so the demand for paper packaging is significant. In addition, the application of paper packaging has been increasing due to growing industries, such as personal care, healthcare, homecare, and retail.
- Similarly, free trade agreements have also offered opportunities to export Vietnam's packaging and packaging paper to tax-incentive markets. The utilization of mini-flute corrugated boxes in some applications has allowed corrugated boxes to expand their presence in markets, like cereal boxes and carryout food packaging.
- The organized food processing sector has also been a meaningful link between the agriculture and manufacturing businesses across the country, contributing to the GDP and significantly adding to the national economy. The growth in the food and beverage industry is anticipated to boost the demand for paper packaging in the country during the forecast period.
- Vietnam does not have sufficient forest resources to meet the country's paper production needs. Most raw materials for paper production in Vietnam are imported, which increases costs and affects the country's competitiveness in the global market.
- COVID-19 favorably affected the expansion of the market. With lockdowns and restrictions on movement, consumer behavior changed. For instance, the country witnessed a shift toward online shopping and home deliveries. This led to an increased demand for packaging materials to keep goods safe during transportation.
