The Vietnam Cartonboard Paper Market is projected to reach $637.5 million by 2030, at a CAGR of 10.6% during the forecast period of 2023–2030. The growth of the Vietnam cartonboard paper market is driven by the growing need for sustainable & eco-friendly packaging solutions, the increasing demand for consumer goods, and the growth in e-commerce. In addition, unstable raw material prices restrain the growth of this market. The emergence of innovative sustainable & customizable packaging solutions is expected to generate growth opportunities for the players in this market. However, the declining use of printed packaging materials is a major challenge for market growth. Additionally, the increasing demand for smart packaging is a prominent trend in this market.
The high adoption of advanced technologies, increasing internet & smartphone penetration, the emergence of multiple new payment modes, and the convenience of online shopping are boosting the demand for consumer goods and e-commerce platforms. According to Vietnam’s E-Commerce and Digital Economy Department, Ministry of Industry and Trade, in 2021, Vietnam’s e-commerce market recorded an estimated value of ~USD 13.7 billion, accounting for approximately 6.5% of the country’s total retail revenue, with a growth of ~16.0% compared to 2020.
Cartonboard paper has emerged as a game-changer in the packaging industry and is preferred due to its strength and rigidity. Also, its recyclable and biodegradable nature makes it an attractive choice for businesses seeking to meet consumer expectations for responsible and eco-friendly packaging solutions. Thus, the increasing demand for consumer goods and growth in e-commerce is boosting the growth of the Vietnam cartonboard paper market.
In 2023, the Folding Box Board Paper (FBB/GC1/GC2) Segment is Expected to Dominate the Vietnam Cartonboard Paper Market
Based on type, the Vietnam cartonboard paper market is segmented into solid bleached board paper (SBB/SBS/GZ), solid unbleached board paper (SUB/SUS/UZ), folding box board paper (FBB/GC1/GC2), and white lined chipboard paper (WLC/GD/GT). In 2023, the folding box board paper (FBB/GC1/GC2) segment is expected to account for the largest share of the Vietnam cartonboard paper market. The large market share of this segment is attributed to the increasing focus on searching for an alternative to plastic and increasing demand for FBB in the healthcare, e-commerce, food, and consumer goods sectors in Vietnam.
In 2023, the 2 Layers Segment is Expected to Dominate the Vietnam Cartonboard Paper Market
Based on layer, the Vietnam cartonboard paper market is segmented into 2 layers, 3 layers, and more than 3 layers. In 2023, the 2 layers segment is expected to account for the largest share of the Vietnam cartonboard paper market. The 2-layer cartonboard consists of 2 layers or piles of paperboard. Such boards are also known as duplex boards or grey boards due to their double side grey color. The board's exterior is coated with bright white color to give it a glossy sheen suit for superior printability. The coated duplex board is sturdy and thin with water-resistant capabilities. Such carton boards are lightweight and easy to transport. The large market share of this segment is attributed to the increasing usage of the 2-layer cartonboard across various sectors.
The Packaging Segment is Projected to Record the Fastest Growth Rate During the Forecast Period
Based on application, the Vietnam cartonboard paper market is segmented into packaging and graphic printing. The packaging segment is projected to record the highest CAGR during the forecast period. Vietnam is a major exporter of packaging products. With the growth of industries such as food and beverage, pharmaceutical, industrial production, and export activities, the demand for packaging material is also increasing. In Vietnam, packaging producers mostly operate in the eCommerce, healthcare, food, consumer goods, and electronics industries. Also, manufacturing activities in Vietnam are preferred due to its free trade agreements, political stability, and low labor costs. The growth of this segment is driven by increasing demand for cartons for export and the growth of packaging in various industries.
The Food & Beverage Segment is Projected to Record the Fastest Growth Rate During the Forecast Period
Based on end-use industry, the Vietnam cartonboard paper market is segmented into food & beverage, pharmaceutical, personal care and cosmetics, home care, nutrition and health supplements, consumer electronics, and other end-use industries. The food & beverage segment is projected to record the highest CAGR during the forecast period. The growth of this segment is driven by developing dairy industry, growing consumption of bakery products, and demand for sustainable, durable, and consumer-friendly primary packaging in Vietnam. For instance, in August 2022, Tetra Pak Group (Switzerland) partnered with Circular Action Hub (Brazil) and PROVietnfor (Vietnam) for a pilot program in Ho Chi Minh City to collect and recycle used beverage cartons and manage carton collection and support the food & beverage sector in the country.
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Key Players
Some of the key players operating in the Vietnam cartonboard paper market are Kraft of Asia Paperboard & Packaging Co., Ltd (Vietnam), Vina Kraft Paper Co., Ltd. (Vietnam), SONG LAM Trading & Packaging Production CO., Ltd (Vietnam), Vietnam Paper Corporation (Vietnam), Thuan An Paper Service Trading Joint Stock Company (Vietnam), Saigon Paper Corporation (Vietnam), Xuan Mai Paper Co., Ltd (Vietnam), Dong Tien Packaging and Paper Co., Ltd (Vietnam), MY HUONG PAPER MANUFACTURING (Vietnam), and Miza Nghi Son Co. LTD (Vietnam).
Scope of the report:
Vietnam Cartonboard Paper Market, by Type
Vietnam Cartonboard Paper Market, by Layer
Vietnam Cartonboard Paper Market, by Application
Vietnam Cartonboard Paper Market, by End-use Industry
Key questions answered in the report:
The Vietnam cartonboard paper market is projected to reach $637.5 million by 2030, at a CAGR of 10.6% during the forecast period.
The growth of the Vietnam cartonboard paper market is driven by the growing need for sustainable & eco-friendly packaging solutions, the increasing demand for consumer goods, and the growth in e-commerce. However, the emergence of innovative sustainable & customizable packaging solutions is expected to generate growth opportunities for the players in this market.
Some of the key players operating in the Vietnam cartonboard paper market are Kraft of Asia Paperboard & Packaging Co., Ltd (Vietnam), Vina Kraft Paper Co., Ltd. (Vietnam), SONG LAM Trading & Packaging Production CO., Ltd (Vietnam), Vietnam Paper Corporation (Vietnam), Thuan An Paper Service Trading Joint Stock Company (Vietnam), Saigon Paper Corporation (Vietnam), Xuan Mai Paper Co., Ltd (Vietnam), Dong Tien Packaging and Paper Co., Ltd (Vietnam), MY HUONG PAPER MANUFACTURING (Vietnam), and Miza Nghi Son Co. LTD (Vietnam).
The folding box board paper (FBB/GC1/GC2) segment is expected to account for the largest share of the global Vietnam cartonboard paper market.
The 2 layers segment is expected to grow with the highest CAGR during the forecasted period.
The packaging segment is expected to grow with the highest CAGR during the forecasted period.
The food & beverage segment is expected to grow with the highest CAGR during the forecasted period.
This report provides pre & post COVID-19 market estimates.
1. Introduction
1.1. Market Definition & Scope
1.2. Market Ecosystem
1.3. Currency and Limitations
1.4. Key Stakeholders
2. Research Methodology
2.1. Research Approach
2.2. Process of Data Collection and Validation
2.2.1. Secondary Research
2.2.2. Primary Research/Interviews with Key Opinion Leaders of the Industry
2.3. Market Sizing and Forecast
2.3.1. Market Size Estimation Approach
2.3.2. Growth Forecast
2.4. Assumptions for the Study
3. Executive Summary
3.1. Overview
3.2. Market Analysis, by Type
3.3. Market Analysis, by Layer
3.4. Market Analysis, by Application
3.5. Market Analysis, by End-use Industry
4. Market Insights
4.1. Overview
4.2. Factors Affecting Market Growth
4.2.1. Drivers
4.2.1.1. The Growing Need for Sustainable & Eco-Friendly Packaging Solutions
4.2.1.2. The Increasing Demand for Consumer Goods, and The Growth in E-commerce
4.2.2. Restraints
4.2.2.1. Unstable Raw Material Prices
4.2.3. Opportunities
4.2.3.1. The Emergence of Innovative Sustainable & Customizable Packaging Solutions
4.2.4 Challenges
4.2.4.1. The Declining Use of Printed Packaging Materials
4.3. Trends
4.3.1. Increasing Demand for Smart Packaging
4.4. Value Chain Analysis
4.5. Porter's Five Forces Analysis
4.5.1. Bargaining Power of Buyers
4.5.2. Bargaining Power of Suppliers
4.5.3. Threat of Substitutes
4.5.4. Threat of New Entrants
4.5.5. Degree of Competition
4.6. Current Macroeconomic Scenario and Future Outlook
4.6.1. Food & Beverage
4.6.2. Pharmaceutical
4.6.3. Consumer Electronics
4.6.4. Cosmetics & Personal Care
4.6.5. Nutrition & Health Supplements
4.6.6. Home Care
4.6.7. Other End-use Industries
4.7. Import-Export Outlook
4.7.1. Exports
4.7.2. Imports
4.8. Pricing Analysis
5. Vietnam Cartonboard Paper Market Assessment—by Type
5.1. Overview
5.2. Folding Box Board Paper (FBB/GC1/GC2)
5.3. Solid Bleached Board Paper (SBB/SBS/GZ)
5.4. White Lined Chipboard Paper (WLC/GD/GT)
5.5. Solid Unbleached Board Paper (SUB/SUS/UZ)
6. Vietnam Cartonboard Paper Market Assessment—by Layer
6.1. Overview
6.2. 2 Layers
6.3. 3 Layers
6.4. More Than 3 Layers
7. Vietnam Cartonboard Paper Market Assessment—by Application
7.1. Overview
7.2. Packaging
7.3. Graphic Printing
8. Vietnam Cartonboard Paper Market Assessment—by End-use Industry
8.1. Overview
8.2. Food & Beverage
8.2.1. Dairy
8.2.2. Savory & Snacks
8.2.3. Bakery
8.2.4. Confectionery
8.2.5. Other Foods and Beverages
8.3. Consumer Electronics
8.4. Personal Care and Cosmetics
8.5. Pharmaceutical
8.6. Nutrition and Supplements
8.7. Home Care
8.8. Other End-Use Industries
9. Competitive Landscape
9.1. Competitive Dashboard
9.1.1. Industry Leaders
9.1.2. Differentiators
9.1.3. Vanguards
9.1.4. Emerging Companies
10. Company Profiles (Business Overview, SWOT Analysis of Top 5 Companies, Financial Overview, Product Portfolio, and Strategic Developments)
10.1. Kraft of Asia Paperboard & Packaging Co., Ltd (a subsidiary of Marubeni Corporation)
10.2. Vina Kraft Paper Co., Ltd. (a subsidiary of SCG Packaging Public Company Limited)
10.3. SONG LAM Trading & Packaging Production CO., Ltd
10.4. Vietnam Paper Corporation
10.5. Thuan An Paper Service Trading Joint Stock Company
10.6. Saigon Paper Corporation (a subsidiary of Sojitz Corporation)
10.7. Xuan Mai Paper Co., Ltd
10.8. Dong Tien Packaging and Paper Co., Ltd
10.9. MY HUONG PAPER MANUFACTURING
10.10. Miza Nghi Son Co. LTD
11. Appendix
11.1. Available Customization
11.2. Related Reports
List of Tables
Table 1 Currency Conversion Rate (2018-2022)
Table 2 Vietnam Paper and Paperboard (Corrugated, Creped, Crinkled, Embossed, or Perforated) Products Export Data,2010-2021
Table 3 Top Export Destinations for Vietnam's Paper and Paper Products Industry, 2021
Table 4 Vietnam Paper and Paperboard Market Exports Data, by Category, 2021
Table 5 Vietnam Paper and Paperboard (Corrugated, Creped, Crinkled, Embossed, or Perforated) Products Import Data,2010-2021
Table 6 Top Importers of Paper and Paper Products for Vietnam, 2021
Table 7 Vietnam Paper and Paperboard Market Imports Data, by Category, 2021
Table 8 Export Prices of Paper and Paper Products In Vietnam, June 2021 (USD/Ton, Excluding Taxes and Other Expenses)
Table 9 Vietnam Cartonboard Paper Market, by Type, 2021-2030 (USD Million)
Table 10 Vietnam Cartonboard Paper Market, by Layer, 2021-2030 (USD Million)
Table 11 Vietnam Cartonboard Paper Market, by Application, 2021-2030 (USD Million)
Table 12 Vietnam Cartonboard Paper Market, by End-use Industry, 2021-2030 (USD Million)
Table 13 Vietnam Cartonboard Paper Market for Food and Beverage, by Types 2021-2030 (USD Million)
List of Figures
Figure 1 Market Ecosystem
Figure 2 Key Stakeholders
Figure 3 Research Process
Figure 4 Primary Research Techniques
Figure 5 Key Executives Interviewed
Figure 6 Breakdown of Primary Interviews (Supply Side & Demand Side)
Figure 7 Key Insights
Figure 8 Vietnam Cartonboard Paper Market, by Type, 2023 Vs. 2030 (USD Million)
Figure 9 Vietnam Cartonboard Paper Market, by Layer, 2023 Vs. 2030 (USD Million)
Figure 10 Vietnam Cartonboard Paper Market, by Application, 2023 Vs. 2030 (USD Million)
Figure 11 Vietnam Cartonboard Paper Market, by End-use Industry, 2023 Vs. 2030 (USD Million)
Figure 12 Impact Analysis of Market Dynamics
Figure 13 Value Chain Analysis For The Vietnam Cartonboard Paper Market
Figure 14 Porter's Five Forces Analysis
Figure 15 GDP Growth In Vietnam, 2018 - 2022
Figure 16 Vietnam's 2022 FDI Distribution Across Various Sectors
Figure 17 Vietnam Cartonboard Paper Market, by Type, 2023 Vs. 2030 (USD Million)
Figure 18 Vietnam Cartonboard Paper Market, by Layer, 2023 Vs. 2030 (USD Million)
Figure 19 Vietnam Cartonboard Paper Market, by Application, 2023 Vs. 2030 (USD Million)
Figure 20 Vietnam Cartonboard Paper Market, by End-use Industry, 2023 Vs. 2030 (USD Million)
Figure 21 Competitive Dashboard: Vietnam Cartonboard Paper Market
Figure 22 Marubeni Corporation: Financial Overview (2022)
Figure 23 SCG Packaging Public Company Limited: Financial Overview (2022)
Figure 24 Sojitz Corporation: Financial Overview (2022)
This report provides pre & post COVID-19 market estimates.
This report provides pre & post COVID-19 market estimates.
Published Date: May-2023
