Against the backdrop of a gradual recovery in import and export activities and great market demands, the industrial packaging industry is expected to develop by leaps and bounds in the upcoming period.

Promising prospects for the industrial packaging market

A sector relying heavily on import and export activities, industrial packaging is expected to indicate a dramatic growth in the near future, upon the revitalization of trade activities. It is predicted by the market analysis and consulting institution Mordor Intelligence that, by 2024, the global industrial packaging market scale is projected to reach 66.27 billion US dollars and climb to 83.45 billion US dollars by 2029, at a CAGR of 4.72% during the period of 2024-2029. These figures indicate that industrial packaging is a fertile market that attracts capital investments from investors and numerous enterprises. Meanwhile, according to statistics, Vietnam currently has only around 200 enterprises engaged in the industrial packaging sector, with an estimated export market scale of 500 million US dollars per year. Compared to other countries in the region, this figure is relatively small. Thus, it can be concluded that the industrial packaging "field" holds great untapped potential and immerse room for development. Analysts believe that Vietnam's active participation in the international economic integration process by signing a series of free trade agreements (FTAs) such as EVFTA, CPTPP, and RCEP will facilitate equal or near-zero tax rate for industrial packaging products exported to member countries. This is an enormous impetus behind Vietnamese packaging manufacturers entering the market and enhances the competitiveness of Vietnamese packaging in the global competitive environment.

Some enterprises seize the market through orderly operating strategies
Seizing market demands and benefits from FTAs, many Vietnamese enterprises boldly invest in machinery and technology to produce high-quality industrial packaging, catering to the stringent requirements of a vast and demanding market. A representative from An Vinh Packaging said, "Over the past 5 years, we have invested heavily in this field, but due to great market demands, we now have stable and increasing orders." An Vinh Packaging is a familiar name in Vietnam's industrial packaging sector. It is a company under An Phat Holdings, a renowned high-tech environment friendly plastic products enterprise. Leveraging the advantages of its existing market network, An Vinh Packaging is currently promoting exports. It mainly produces two major production lines for sling bags and jumbo bags, both of which are highly durable with a load capacity of up to 2,000 kg, and suitable for transporting or packaging heavy and bulky goods. As a well-established export-oriented enterprise, An Vinh, with substantial investment in technology, boasts a series of 100% modern new machines, such as yarn-making machine, weaving machine, cutting machine, coating machine, sewing machine, load testing machine, UV testing machine..., in order to automatically master its production and product quality testing, etc. Moreover, it facilities research and introduces new products such as geotextiles and agricultural textiles to expand customer options and look for new customers. Current production volume has reached approximately 500,000 bags per month, a significant increase compared to 100,000 bags per month in 2018. The company's products are currently sold to multiple countries, including the United States, Canada, Japan, Thailand, Malaysia, Singapore, and Australia, etc.

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Mr. Adward Lu 021-2231 7103

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WEPACK World Expo of Packaging Industry, organized by RX, is a global mega-gala exhibition with foresight, pioneering power and impact covering the whole packaging industry chain in strategic partnership with WPO (World Packaging Organization). It encompasses six major themed exhibitions, namely SinoCorrugated 2025, SinoFoldingCarton 2025, PACKCON 2025, SinoPaper 2025, DPrint 2025, and Food Pack & Tech 2025, with an ever-expanding scale and constantly enriching categories of exhibits.

Article reposted from: Next Stop Vietnam