Market Size of Vietnam Flexible Plastic Packaging Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR (2024 - 2029) | 6.83 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Vietnam Flexible Plastic Packaging Market Analysis
The Vietnam Flexible Plastic Packaging Market size in terms of shipment volume is expected to grow from 0.23 Million tonnes in 2024 to 0.32 Million tonnes by 2029, at a CAGR of 6.83% during the forecast period (2024-2029).
Vietnam's flexible plastic packaging market is growing, buoyed by the surging demand for sustainable and convenient packaging solutions.
- Flexible packaging excels in product preservation while treading lightly on the environment. Its adaptability to diverse shapes and sizes allows tailored solutions, heightening consumer appeal. The market thrives on material science and printing innovations, particularly in eco-friendly avenues that curb waste and emissions.
- Consumer-centric features like easy-open, resealable, and portable designs fuel this growth. The market’s pivot from traditional rigid containers echoes broader sustainability trends, aligning with the nation's innovation and resource efficiency push.
- Moreover, stringent regulations on sustainability and waste are propelling the demand for greener alternatives, notably flexible packaging. These converging factors are set to boost the flexible packaging market ’s growth, cementing its pivotal role in Vietnam's overall packaging landscape.
- According to the Vietnam Institute of Strategy and Policy for Industry and Trade, the plastic market in Vietnam is gaining recognition as a dynamic sector owing to its rapid pace of development. This growth can be attributed to several factors. The market for plastic products in Vietnam is vast and brimming with potential. These products find applications across various sectors, from packaging and construction to the production of household appliances. Also, while showing robust growth, Vietnam's plastic market is still developing compared to global standards.
- Vietnam's National Action Plan aims to halve marine plastic litter by 2025 and reduce it by 75% by 2030. The country is implementing measures, including a ban on producing and importing plastic bags for domestic use by 2026 and a plan to phase out most single-use plastic products by 2031. The World Bank presented a policy roadmap to assist the Vietnamese government in curbing the use of prevalent single-use plastic items.
