Vietnam Cartonboard Paper Market to be Worth $637.5 Million by 2030

Vietnam Cartonboard Paper Market by Type (Solid Bleached Board, Solid Unbleached Board, Others), Layer (2 Layers, 3 Layers, Others), Application (Packaging, Graphic Printing), End-use Industry (Food & Beverage, Others) - Forecast to 2030

Meticulous Research^®—a leading global market research company, published a research report titled, ‘Vietnam Cartonboard Paper Market by Type (Solid Bleached Board, Solid Unbleached Board, Others), Layer (2 Layers, 3 Layers, Others), Application (Packaging, Graphic Printing, Others), End-use Industry (Food & Beverage, Others) - Forecast to 2030’.

According to this latest publication from Meticulous Research^®, the Vietnam cartonboard paper market is projected to reach $637.5 million by 2030, at a CAGR of 10.6% from 2023 to 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.

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. Moreover, the folding box board paper (FBB/GC1/GC2) segment is projected to record the highest CAGR during the forecast period.

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. Moreover, the 2 layers segment is also projected to record the highest CAGR during the forecast period.

Based on application, the Vietnam cartonboard paper market is segmented into packaging and graphic printing. In 2023, the packaging segment is expected to account for the larger share of the Vietnam cartonboard paper market. Cartonboard is made from paper used to create carton boxes for packaging applications. These cartons are used as packaging solutions in various industries, such as food, cosmetics, retail, and pharmaceuticals, to protect goods from splashes, drops, and bumps. The demand for cartons is increasing in these industries as they have the strength and durability to contain various items and protect products during shipping. Thus, the large market share of this segment is attributed to the increasing export of packaging products and the growing demand for cartons for packaging applications. Moreover, the packaging segment is also projected to record the highest CAGR 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. In 2023, the food & beverage segment is expected to account for the largest share of the Vietnam cartonboard paper market. Cartonboards are used for packaging and are an essential component of the F&B supply chain, ensuring that products are delivered to retailers and consumers in good condition. The packaging also helps to reduce waste and minimize the risk of product recalls due to contamination or damage during transportation. Thus, the large market share of this segment is attributed to the increasing use of cartonboard for packaging applications in the food & beverage industry. Moreover, the food & beverage segment is also projected to record the highest CAGR during the forecast period.

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).

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Key questions answered in the report-

Which high-growth market segments are based on type, layer, application, and end-use industry?
What was the historical market for Vietnam cartonboard paper?
What are the market forecasts and estimates for 2023–2030?
What are the major drivers, restraints, and opportunities in the Vietnam cartonboard paper market?
Who are the major players, and what shares do they hold in the Vietnam cartonboard paper market?
How is the competitive landscape in the Vietnam cartonboard paper market?
Who are the local emerging players in the Vietnam cartonboard paper market, and how do they compete with the other players?

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