The Vietnam cartonboard paper market is projected to reach $637.5 million by 2030, growing at a CAGR of 10.6% from 2023 to 2030. This market growth is fueled by the rising need for sustainable and eco-friendly packaging solutions, increasing consumer goods demand, and the expansion of e-commerce.

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However, fluctuating raw material prices are a restraining factor. Opportunities for market players are emerging with the development of innovative, sustainable, and customizable packaging solutions. On the other hand, the declining use of printed packaging materials poses a significant challenge. Additionally, the increasing demand for smart packaging is a notable 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 hold the largest market share. This dominance is attributed to the growing search for plastic alternatives and the increasing demand for FBB in Vietnam's healthcare, e-commerce, food, and consumer goods sectors. Additionally, the folding box board paper (FBB/GC1/GC2) segment is projected to achieve 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 hold the larger market share. Cartonboard is used to create carton boxes for packaging applications across various industries, such as food, cosmetics, retail, and pharmaceuticals, providing protection against splashes, drops, and bumps. The demand for these cartons is rising due to their strength and durability, which ensure product safety during shipping. The segment's large market share is driven by increasing exports of packaging products and the growing demand for cartons in packaging applications. Additionally, the packaging segment is projected to achieve the highest CAGR during the forecast period.

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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.

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.

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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).

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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