Responding to a growing market in Asia and the Pacific region, food-processing and packaging multinational Tetra Pak has announced a $110 million investment in a production plant near Ho Chi Minh City (Vietnam).
Demand for dairy and fruit-based drinks across South Asia, Japan, Korea, Australia and New Zealand has steadily increased and reached 70 billion litres in 2016. The market is expected to continue growing at a rate of 5.6% per year and projected to favour cartons over bottles or cans.
"Tetra Pak has been present in the region since 1971, when we set up our first factory in Gotemba, in Japan," said Michael Zacka, Regional Vice President for Tetra Pak South Asia, East Asia and Oceania.
"Over the years, we have seen substantial growth of our products, driven by a wide portfolio and the innovations we have introduced in the market," he added. "This decision is a strong reflection of our commitment to the region and our firm belief in its future potential."
The Ho Chi Minh City packaging factory will be the fourth in the region.
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Martha Sparrius. To subscribe to ESM: The European Supermarket Magazine, click here.
