Rice packaging at Trung An High-tech Farming JSC (Photo: VNA) Hanoi (VNA) – Vietnam’s food processing and packaging industry hasexpanded by 15-20 percentannually over the past several years and is likely to grow further in thecoming years, according to the Association of Vietnam Retailers (AVR).
Food and drinkscurrently account for the highest proportion of monthly consumer spending inVietnam, at about 35 percent of the total and the annual consumption of foodand beverages is estimated to be equivalent to 15 percent of the country’s GDP.
In 2018, theconsumption of food and beverages grew by 18 percent, creating a major push forthe food processing and packaging sector.
Meanwhile, IMSHealth has placed Vietnam into the group of the top 17 pharmerging markets which account for a fast-rising share of globalpharmaceutical sales with a market size of about 5.1 billion USD.
Vietnam willbe among three countries reporting the highest growth in the pharmaceutical industry, expanding at an annual rateof 10 percent in average, according to Global Data.
In addition,supplementary food and cosmetics have also posted strong growth, making thepackaging industry more promising./.
VNA
