According to the Vietnam Plastics Association (VPA), over the past decade, the plastic industry has maintained an average growth rate of double digits in terms of import volume of raw materials as well as export of plastic products. Vietnam's signing of Free Trade Agreements (FTAs) has brought many opportunities for businesses to export plastic products. Partners are gradually shifting orders to Vietnam to take advantage of low production costs, export taxes to Korea, Japan and Europe (EU)... and enjoy many incentives. The demand for importing plastic products in the EU and Japanese markets is still high, and customers are increasingly preferring Vietnamese plastic products.
1. High quality labels and packaging
Many Vietnamese consumers are looking for higher quality labels and packaging products. 49% of consumers want products with premium packaging and styling. Packaging quality is fast becoming a necessity for food manufacturers if they want to stand out in the burgeoning packaging and labeling sector in Vietnam.
2. Carton packaging
A survey by the ORC label printing and packaging industry in Vietnam shows that Vietnamese consumers are more inclined to choose cartons than any other type of packaging. About 70% of the materials for this type of packaging are from recycled sources. Carton packaging has been successful in the retail market of Vietnam and around the world, the Vietnamese carton packaging industry therefore has great potential.
3. Convenience
Urban population in Vietnam increased from 34% to 40%, leading to an increase in income. This also leads to an increase in the demand for prepackaged foods. The appearance of mini-marts and convenience stores has increased dramatically across the country. The demand for instant noodles increased by 69% and the demand for ready-made sausages also increased by more than 26%.
4. Innovation
In Vietnam, 88% of shoppers usually buy a new item every time they shop. This has made the new plastic packaging industry one of the fastest growing segments. The sector grew by $4.7 billion in 2016.
