Report Overview

The growth of the Vietnam Seafood Packaging market is attributed to expanding the seafood industry and launching innovative packaging in the market along with increasing demand for high-quality seafood and stringent global standards regarding food safety.

Vietnam Seafood Packaging Market - Industry Trends & Forecast Report, 2029

Vietnam seafood packaging market size is projected to grow at a CAGR of 5.52% during the forecast period between 2023 and 2029. Major growth factors for the Vietnam seafood packaging market include expanding the seafood industry and launching innovative packaging in the market. Packaging manufacturers are launching packaging with advancements such as recyclable and thermal packaging to keep the products safe from external factors such as weather that are influencing the market growth. Additionally, increasing demand for high-quality seafood and stringent global standards regarding food safety is anticipated to provide lucrative growth opportunities to the Vietnam seafood packaging market during the forecast period.

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.

Vietnam Seafood Packaging Market

Growth Drivers

High Demand for Seafood Due to Health Benefits

The rising demand for seafood in Vietnam is mainly attributed to the health benefits it offers. The consumption of seafood helps in building immunity as it contains various nutrients such as vitamin A, B-complex vitamins, and others. These nutrients strengthen bones and boost the immune system's defenses. Nutrient-rich seafood helps to lower the risk of cardiac issues, cardiovascular events, strokes, heart attacks, and arrhythmias. Doctors advise eating seafood to be healthy since it contains a lot of omega-3 fatty acids. This is regarded as seafood's main health advantage. These factors are boosting the demand for seafood in both domestic and international markets as well as further propelling the growth of the Vietnam seafood packaging market.

Restraints

Food Contamination Through Packaging Materials

Packaging is an effective method of preventing food products from contamination. However, in several instances, it has been discovered that packaging can act as a source of contamination by allowing contaminants to enter a food. The migration of some dangerous compounds into seafood is a typical one that results from food coming into direct contact with packing materials, which can cause chemical contamination. Additionally, unauthorized or incorrect additive usage may contaminate food. This may restrict the growth of the Vietnam seafood packaging market.

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. Since 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.

Vietnam Seafood Packaging Market

Segmental Coverage

Vietnam Seafood Packaging Market – By Product Type

Based on product type, Vietnam seafood packaging market is segregated into bags & boxes, cans, jars, trays, and other segments. The trays segment accounts for the highest market share. Plastic trays are the most popular type of seafood packaging in the Vietnam market. Polyethylene, polystyrene, polyvinyl chloride, polypropylene, and cellulose acetate can all be used to make plastic trays. The kind of plastic used depends on factors including cost, processing convenience, food compatibility, and storage needs.

Vietnam Seafood Packaging Market – By Material Type

Based on material type, Vietnam seafood packaging market is segmented into metal, paper & paperboard, plastic, glass, and others. The plastic materials segment holds the highest share in Vietnam seafood packaging market. Polyvinylidene chloride (saran) and polyvinyl chloride (PVC) are the most common types of plastics used for seafood packaging. They all perform well in terms of the majority of other desirable qualities of the perfect package and are all effective oxygen barriers. If air bubbles are crowded out, both saran and PVC stick to fresh fish and offer an excellent fit. Saran, however, loses strength at very low temperatures.

Vietnam Seafood Packaging Market – By Technology

Based on technology, the Vietnam seafood packaging market is segmented into modified atmospheric packaging (MAP), retort packaging, and vacuum packaging. The modified atmosphere packaging accounts for the highest market share. In order to increase the shelf life of a packed food product, MAP imposes a gas atmosphere, often composed of an inert gas like nitrogen and an antimicrobial active gas like carbon dioxide. This kind of packaging technology offers preservation of food nutrients, prolonged shelf life, and retention of original food flavors, which contributes to its market growth.

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.

Vietnam Seafood Packaging Market – By Seafood Type

Based on seafood type, the Vietnam seafood packaging market is segmented into crustaceans, fish, Mollusca, and others. The fish segment accounts for the highest share in Vietnam seafood packaging market owing to high demand for the hospitality industry, particularly from restaurants, hotels, as well as processed food manufacturing companies. The health benefits associated with fish consumption along with the rising export of sea fish are projected to further boost the demand for fish in the coming years, eventually driving the seafood packaging market.

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.

Scope of the Report

By Product Type

• Bags & boxes

• Cans

• Jars

• Trays

• Others

By Material Type

• Metal

• Paper & paperboard

• Plastic

• Glass

• Others

By Technology

• Modified Atmospheric Packaging (MAP)

• Retort Packaging

• Vacuum Packaging

By Application

• Fish packaging

• Crustaceans Packaging

• Mollusks Packaging

• Others

By Seafood Type

• Crustaceans

• Fish

• Mollusks

• Others