Globally, the packaged food and beverage sector has experienced strong growth over the past few years. In addition, the demand for fast food increases as the world population is expected to grow from 7.3 billion people in 2015 to 9.7 billion people in 2050 is predicted to drive demand for packaging, plastic and printing products.
At the same time, the strong growth of the e-commerce sector is also likely to open new avenues for the development of the industry. E-commerce companies prefer lightweight and flexible packaging solutions to reduce shipping costs. The growing preference for online shopping for daily fresh food, FMCG products, and electronics and clothing is expected to drive the growth of the plastic packaging industry.
The global plastic packaging market size is worth $348.08 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 4.2% from 2021 to 2028. The rapidly growing primary application industries include food and beverage, pharmaceutical and personal products, and home care services. Furthermore, the growing penetration of e-retail as well as worldwide is driving the growth of the market. Plastics provide flexible packaging and rigid, transparent and lightweight packaging as key application areas favor it over other materials, such as metal or glass. Furthermore, engineered plastics can survive harsh environments and do not degrade in extreme temperatures, thus preserving the integrity of products, such as food, beverages and cosmetics. .
Furthermore, the low cost and excellent printability of plastic films make it a lucrative packaging material. Extrusion technology segment is expected to witness strong growth in the market from 2021 to 2028, the introduction of innovative solutions, such as active packaging, packaging bio- and edible plastics, are also expected to drive the market growth in the coming years.
In the Vietnamese market, the demand for packaging currently tends to increase, and is expected to increase by over 45% in the next 5 years. This growth was driven by strong demand from e-commerce shipping and delivery, food and beverage, personal care, home care and healthcare industries.
Currently, Vietnam has more than 900 packaging factories, about 70% of which are concentrated in the southern provinces, especially in the Binh Duong market, group of FDI companies (accounting for 60% of export value industry), these companies use advanced technologies, meeting the quality standards of foreign markets. The market can be divided into 5 main areas including plastic packaging, carton packaging /paper, metal packing and others.
In addition, according to the Vietnam Plastic Association, in recent years, the plastic packaging industry has also developed strongly with an average growth rate of more than 25% per year. Plastic packaging thrives because the food and food industry has a good growth step.
With that, consumers are interested in packaging that is convenient, sustainable, flexible, efficient, anti-counterfeiting and traceable, which combines all these parameters with low cost. These needs have led the packaging market vendors to focus on new packaging designs or redesign existing packaging for greater convenience and portability. This is also driving the growth of the packaging market globally.
Currently, businesses are very interested in reducing costs for product packaging because in the cost of forming a product, the cost of packaging can account for up to 50%. Packaging is one of the most important issues in the food manufacturing industry. The development of the food industry, packaging technology is now interested in cost-saving, environmentally friendly packaging technology, smart packaging, thereby improving product value. .
The processing and packaging industry is one of the fast-growing industries in Vietnam thanks to positive signs such as a young population structure, changing consumption habits, high people's income and especially, the demand for ready-made food sources is increasing day by day. The development of the packaging processing industry has a significant impact on the structure of other manufacturing and industrial sectors, contributing to an increase in export turnover and promoting socio-economic development.
PACK VIETNAM 2022 opens up opportunities for businesses
Realizing the large and fertile market, international suppliers of packaging and printing machinery and equipment have increased their product promotion and penetrated the Vietnamese market through specialized exhibitions.
The first international exhibition of plastic, packaging and printing industries (PACKVIETNAM 2022) will take place from November 8 to 10, 2022 at WTC - Binh Duong New World Exhibition Center. considered as the convergence of leading enterprises in this industry.
With an expected scale of 300 booths of more than 155 units from public and regional companies, the exhibition will display and introduce many modern and highly applicable technologies and equipment. These include processing and packaging technologies for food, pharmaceuticals, and beverages; bottling, barcode marking, labeling and printing technology; canning and canning products; equipment for handling, measuring and storing food materials; food safety technology; environmental technology, waste treatment; pharmaceutical and cosmetic processing and packaging technology; technology, integrated solutions, plastic and rubber products (semi-finished products and technical parts), as well as materials used in production. This is a good opportunity for businesses to access the latest technologies in the packaging processing industry, apply modern technology to food production as well as expand cooperation relationships with suppliers. applications and potential customers. Along with the continuous growth of the carton, plastic and printing industry, PACK VIETNAM is the foundation for large enterprises pursuing business expansion goals, global suppliers and manufacturers. domestic exchange business and building cooperation partners.
PACK VIETNAM also gives visitors the following information through the seminar on Vietnamese production technology "Achievements in food processing and packaging technology and techniques"; Workshop on Analytical technologies in processing and food safety - standard substances: needs and ability to meet; Improve overall equipment efficiency through application of lean manufacturing system; Rapid product development processes and techniques for lean start-ups…