Packaging market overview

sourceofasia.com showed that packaging market is of great potential.

  • Vietnam multi-layered flexible packaging market was estimated to size 953 million USD in
    2016.
  •  Vietnam plastic packaging is the largest segment in packaging industry with 4.7 billion USD.
    The prominence of this segment is due to the growth of food and beverage industry.
  • Packaging industry for processed food in Vietnam will grow by 38% between 2015 and 2020.
  • Foreign giants are strengthening their presence in flexible packaging market via M&A
    activities.
  • Flexible packaging serves a wide range of end-user markets.
  • Vietnam is depending on the import of plastic resin, net import around 10 billion USD per
    year. The investment in petrochemical and downstream business is crucial for Vietnam.
  • The market is dominated by 14 manufacturers, accounting for 54% of the total flexible
    packaging market.

Opportunities for packaging market:

  • New technologies in manufacturing, using new materials, investing in
    advanced production lines to increase efficiency and assuring quality of
    products.
  • There are strong growth opportunities from food sector, such as
    consumption growth in instant coffee (12.2%), confectionery (9%),
    Sauces & Condiment (7.7%).
  • A strong growth in sectors such as skin care (15.1%), laundry care
    (13.0%), and surface care (12.2%) will also boost the packaging
    industry.
  • There are many small packaging companies, so small that they cannot
    capture the growth.

Source: sourceofasia.com

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