Vietnam Plastic Packaging: Exploring the Potential of Sustainable Packaging

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.

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. 

Key highlights to further examine: 

• 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. 

For the full insight article, kindly access HERE.    

For publications on other key sectors in Vietnam (Plastic Packaging, Financial Services, M&A, Cold Chain, Water Supply, Cement, , etc.), please refer to our website at https://fiinresearch.vn.   

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.    

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 in Plastic Packaging, Sustainability and other key sectors in Vietnam. 

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 

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