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Factors Affecting Vietnam Cartonboard Paper Market Growth

   September 25, 2023

Vietnam is transitioning from a linear economy to a circular economy with an increased emphasis on waste management and sustainable economic development. Consumers in Vietnam are increasingly seeking eco-friendly packaging options that have a lower environmental impact compared to traditional packaging solutions. Also, the country is focused on reducing emissions associated with the manufacture of packaging materials. Vietnam is an emerging industrial hub with accelerated economic growth and hence has severe environmental issues, particularly related to waste management and plastic pollution. Every year, Vietnam generates approximately 25.5 million tons of waste, of which 75% goes into landfills. Cartonboard paper offers recyclability, biodegradability, versatility, and performance, making it an appealing option that aligns with these sustainability requirements. Governments & regulatory bodies in Vietnam are implementing more stringent regulations for managing packaging waste and reducing the associated environmental impact. Hence, several companies are opting for cartonboard paper to comply with regulations, fulfill their commitment to sustainable practices, avoid potential penalties, and foster a positive public image. Also, cartonboard paper is biodegradable and breaks down naturally over time without causing long-term environmental harm. Hence, the growing need for sustainable & eco-friendly packaging solutions is driving the growth of the Vietnam cartonboard paper market.

Governments and regulatory bodies across the globe are imposing strict regulations on packaging waste for environmental protection. Major environmental protection and waste management regulations in Vietnam cover Decree No. 08/2022/ND-CP for Law on Environmental Protection; Environment Impact Assessment (EIA) Laws; the Circular on Strategic Environmental Assessment; Environmental Impact Assessment and Environmental Protection Plans No. 27/2015/TT-BTNMT; Law on Environmental Protection (LEP) No 55/2014/QH132020; and Vietnam Green Label, among others. Cartonboard paper helps companies comply with regulations on packaging waste and environmental protection, enabling businesses to meet legal obligations and avoid potential penalties. Consumers and businesses are increasingly recognizing the importance of adopting sustainable and responsible packaging practices. Cartonboard paper is a sustainable and versatile packaging option, making it a preferred choice for companies targeting eco-conscious consumers. Also, several companies that adopt sustainable practices are perceived as socially responsible and environmentally conscious. This positive association may increase brand loyalty and customer trust in these organizations.

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