Rising income entails new growth in the food and beverage industry in Vietnam.
In the first quarter of 2017, the food and consumer goods industry in Vietnam grew 3% compared to the same period in 2016, reaching the fourth highest growth rate in the Asia Pacific region. The growth of the food and beverage industry led to an increase in the demand for food packaging and packaging machinery, thanks to consumer demand for modern labeling and lightweight packaging and matching. with a lot of moving lifestyle.
The development of the food industry offers many business opportunities for businesses in the packaging industry, especially businesses in packaging and labeling machinery.
Many Vietnamese consumers are looking for higher quality labels and packaging products. 49% of consumers want to use high quality packaging designs and products. Packaging quality is fast becoming a necessity for food manufacturers if they want to become prominent in the growing field of packaging labels in Vietnam.
The survey of ORC in label printing and packaging industry in Vietnam shows that Vietnamese consumers tend to choose carton higher than any other kind of packaging. About 70% of materials for packaging are from recycled sources. Carton packaging has been successful in Vietnam retail market and worldwide, Vietnam carton packaging industry has great potential.
Vietnam’s urban population has increased by 34% -40%, leading to an increase in income. This also led to an increase in demand for prepackaged foods. The emergence of mini supermarkets and artisan shops has increased dramatically across the country. From January 2017 to February this year, 123 convenience stores and 684 mini supermarkets opened in Vietnam.
Prepackaged foods and convenience foods are now a huge trend, and compact packaged products are preferred by single consumers. Demand for instant noodles increased by 69% and demand for ready-made sausages also increased by more than 26%.
In Vietnam, 88% of shoppers often buy a new item every time they shop.
This has made the field of plastic packaging new become one of the fastest growing segments. This sector grew by US $ 4.7 billion in 2016.
Vietnam’s economy continues to grow, leading to an increase in spending on food and beverages, and as a result the packaging market will also grow in parallel with this increase.
For domestic manufacturers, events like Print Pack Foodtech will provide businesses with an advantage over competitors.International manufacturers are also eager to expand their business in Vietnam to take advantage of this growth, and they will seek new ways to attract consumers.
However, this also brings a new opportunity for domestic packaging and printing companies as it helps the industry grow. Packaging design will be more important than ever and become a major method for manufacturers to attract more sophisticated consumers.