VIETNAM PLASTIC PACKAGING MARKET

Vietnam plastic packaging market is estimated to grow at a robust CAGR 7.7% from 2024 to 2031 owing to the increasing demand for consumer products and the growing applications across various industries.

Major Market Drivers and Trends

Vietnam plastic packaging market size growth is primarily driven by the rising need for consumer products especially in the food and beverage sector. The rise in luxury food consumption and the increasing trend of dining out are emerging as some major factors influencing demand in the country. The rise in income, urbanization and a growing female workforce are several key factors driving these food preferences. The rapid economic growth especially with the expanding middle class and higher income is further fueling demand for packaged food and beverages along with personal care items which leads to a greater need for effective product packaging.

Plastic packaging offers the ability to preserve products effectively while minimizing environmental impact. Its flexibility in accommodating various sizes and shapes further enhances its appeal to consumers. The growing demand for portable and resealable packaging solutions is driving market growth. This shift from rigid containers to more sustainable options align with national trends toward innovation and improved resource efficiency.

The surge in online shopping activities fueled by ecommerce growth is boosting market demand as plastic packaging offers essential durability which ensures products remain intact during delivery. As ecommerce platforms such as Shopee and Lazada see an increase in online retail, the need for sturdy and visually appealing packaging grows to enhance customer satisfaction while ensuring product protection throughout transit.

 The other factor supporting market growth is the increasing adoption of plastic packaging solutions in various sectors. Its ability to adapt to various sizes and shapes makes it a popular choice across various industries which fuels its broad adoption. This versatility allows them to be used in diverse sectors including construction and household appliances.

Additionally rising regulations around waste and sustainability are further pushing the demand for more environmentally friendly options including recyclable plastic. The National Action Plan sets a target to reduce marine plastic pollution by fifty percent in 2025 with a further 75% reduction in the next five years by gradually banning most single-use plastic items.

Based on material, PET offers exceptional barrier properties against moisture and gas which make it ideal for use in food packaging. Its strong ability to block oxygen helps protect the product while also retaining the carbon dioxide in carbonated beverages. It also boasts shatter resistance and optical clarity which make it perfect for microwave trays or drink bottles. PP is able to withstand high temperatures and resist chemicals which make it suitable for containing hot liquids. Common applications include bottle caps and closures along with medicine bottles. PVC is popular for its resistance to chemicals and oil along with physical properties that provide strength and excellent clarity which makes it ideal for products like clamshells or blister packs.

Based on product type, the market is classified into rigid and flexible packaging. Rigid packaging is generally heavier and usually occupies more space because it cannot be compressed when grouped together. This includes bottles, cans, and others. Flexible packages are intended to bend easily and can be bundled for space efficiency. They are commonly used for affordable products in the food or cosmetic sectors. Flexible packaging can be easily tailored as it provides various printing options to add colors and graphics that align with brand identity. This includes wraps and films, pouches, among others.

Based on application, the food and beverages sector continue to command a large market share. Plastic packaging benefits from the expanding food industry in the country as plastic’s durability ensures safe and secure food containment. Companies have introduced new technologies which deliver various types of premium packaging that adhere to rigorous food safety and hygiene regulations.

The personal and household care segment is also growing due to the increasing demand for hygienic products. The personal care sector has favored plastic packaging for its durability and affordability. The growing focus on sanitation coupled with strong consumer and brand demand have reinforced plastic’s essential role in packaging and distributing beauty products.

Top Market Players

Several notable players in the market include Batico, Liksin, An Phat, Tan Phong, Tapack, among others. The Vietnam Plastics Association indicates that approximately 460 plastic packaging firms out of 2,000 in the country contribute more than 60% of its annual export sales. Plastic packaging industry in Vietnam benefits from a competitive edge over countries like Thailand and China as European anti-dumping duties on Vietnamese products have been lifted. Even though Chinese companies represent the biggest competition in the global market, China’s ban on the manufacture of thin plastic packaging items may create opportunities. Consequently, many of the previous customers of these companies are now gradually transitioning to plastic packaging firms in Vietnam.

Key Developments

• • In 2023 Amcor PLC a global leader in responsible packaging has entered into an agreement with SK Geo Centric a leading petrochemical firm in South Korea. The partnership will allow Amcor to obtain premium recycled materials particularly targeting the Asia Pacific market. This MoU allows Amcor to offer access for its customers in major markets such as Vietnam to packaging solutions created from recycled materials.
  • In 2023, AJ Plast marked the inauguration of its advanced biaxial orientation plastic film manufacturing facility in Binh Duong province in Vietnam.

Segments covered in the Report:

The Vietnam Plastic Packaging Market has been segmented on the basis of Material, Product, Application, and Regions. Based on the Material, the market is segmented into PE, PET, PP, PS, EPS, PVC, Bio-based Plastics, and Others. Based on the Product, the market is segmented into Rigid and Flexible. The Rigid segment is further segmented into Bottles & Jars, Cans, Trays & Containers, Caps & Closures, and Others. The Flexible segment is further segmented into Wraps & Films, Bags, Pouches, and Others. Based on the Application, the market is segmented into Food & Beverages, Industrial Packaging, Pharmaceuticals, Personal & Household Care, and Others.

Market Segmentation

Vietnam Plastic Packaging Market by Material

• • PE
  • PET
  • PP
  • PS
  • EPS
  • PVC
  • Bio-based plastics
  • Others

Vietnam Plastic Packaging Market by Product

• • Rigid
    • Bottles & Jars
    • Cans
    • Trays & Containers
    • Caps & Closures
    • Others
  • Flexible
    • Wraps & Films
    • Bags
    • Pouches
    • Others

Vietnam Plastic Packaging Market by Application

• • Food & Beverages
  • Industrial Packaging
  • Pharmaceuticals
  • Personal & Household Care
  • Others

Vietnam Plastic Packaging Market Leading players (Option 1: Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Tapack
  • Batico
  • Liksin
  • Saplastic
  • Thanh Phu
  • Huhtamaki
  • An Phat
  • Tan Phong
  • Hung Yen Plastics