Redding, California, Sept. 13, 2023 (GLOBE NEWSWIRE) -- According to a new market 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), End-use Industry (Food & Beverage, Others)—Forecasts to 2030’, the Vietnam cartonboard paper market is projected to reach $637.5 million by 2030, at a CAGR of 10.6% from 2023 to 2030.
Cartonboard paper is commonly used for packaging food and beverage products, such as juices, milk, and cereal items. It comes in various grades and is known for its exceptional durability, ensuring the safe storage and transportation of various goods. Cartonboard paper enables quality packaging while also being a recyclable and sustainable product. Some of the factors driving the growth of this market are the growing need for sustainable & eco-friendly packaging solutions, the increasing demand for consumer goods, and the growth in e-commerce. However, unstable raw material prices restrain the growth of this market.
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The Vietnam cartonboard paper market is segmented by type (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)), layer (2 layers, 3 layers, and more than 3 layers), application (packaging and graphic printing), and end-use industry (food & beverage (dairy, bakery, confectionery, savory & snacks, and other food & beverages), pharmaceutical, personal care and cosmetics, home care, nutrition and health supplements, consumer electronics, and other end-use industries).
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 projected to record the highest CAGR during the forecast period.
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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 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 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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Scope of the report:
Vietnam Cartonboard Paper Market, by Type
- Folding Box Board Paper (FBB/GC1/GC2)
- Solid Bleached Board Paper (SBB/SBS/GZ)
- White Lined Chipboard Paper (WLC/GD/GT)
- Solid Unbleached Board Paper (SUB/SUS/UZ)
Vietnam Cartonboard Paper Market, by Layer
- 2 Layers
- 3 Layers
- More than 3 Layers
Vietnam Cartonboard Paper Market, by Application
- Packaging
- Graphic Printing
Vietnam Cartonboard Paper Market, by End-use Industry
- Food & Beverage
- Dairy
- Bakery
- Confectionary
- Savory & Snacks
- Other Food & Beverages
- Consumer Electronics
- Personal Care and Cosmetics
- Pharmaceutical
- Nutrition and Supplements
- Home Care
- Other End-use Industries
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