Vietnam Seafood Packaging Market Size to Grow Steadily at CAGR of 5.5% During 2023–2029

Published | 03 February 2023

Vietnam seafood packaging market is gaining traction because of the increasing demand for packaged foods and rising consumption of ready-to-eat meals.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, the Vietnam seafood packaging market size is projected to grow at a steady CAGR of 5.52% during the forecast period between 2023 and 2029. The growing seafood sector and the introduction of cutting-edge packaging to the market are two major development factors for the Vietnam seafood packaging market. The market expansion is being influenced by the package makers who are introducing packaging with improvements like recyclable and thermal packaging to protect the items from external influences like the weather. Additionally, during the forecast period, the market for seafood packaging in Vietnam is expected to benefit from rising worldwide food safety requirements and the demand for premium seafood.

Vietnam Seafood Packaging Market – Overview

Seafood includes all commercially procured freshwater and saltwater fish, molluscan shellfish, and crustaceans. Fresh seafood is packaged to assist avoid infection and alterations to the food's chemical, biological, and physical structure. Typical forms of packaging include Stand-up pouches: which provide convenience, save the cost of packing, and maintain product freshness. Cans: For a long time, processed fish was preserved through canning. After processing, tuna, salmon, and sardines are frequently canned.

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Vietnam Seafood Packaging Market – By Application

Based on application, Vietnam seafood packaging market is segmented into fish packaging, crustaceans packaging, Mollusca packaging, and others. The fish packaging segment holds the highest share of the market. The growth of this segment is mainly attributed to high fish hunting and its consumption in the domestic market. The borders of Vietnam are surrounded by the Gulf of Thailand, the Gulf of Tonkin, and the South China Sea. Fish has long been the primary source of protein in Vietnam, and many people who live along the coast, rivers, and lakes depend on fishing as a source of income.

Impact of COVID-19 on the Vietnam Seafood Packaging Market

Although COVID-19 cases in Vietnam were among the lowest in the world throughout 2020 and early 2021, the seafood packaging market was negatively affected in the wake of the pandemic. As the virus was believed to have emerged from an animal meant for human consumption, the demand for seafood and other meat types dropped significantly in fear of zoonotic diseases. Additionally, the supply chains, freight deliveries, and hunting activities were also disturbed and limited during this period due to limited seafood orders which caused huge losses to the entire seafood industry. The market is expected to record slow growth in the post-pandemic period as well.

Competitive Landscape

Major players operating in Vietnam seafood packaging market include Sealed Air, DS Smith, Bemis, Pactiv, Berry Global, Constantia Flexibles, Winpak, Coveris, Clondalkin Group, and Cascades. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

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The in-depth analysis of the report provides information about growth potential, upcoming trends, and the Vietnam Seafood Packaging Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the Vietnam Seafood Packaging Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

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