Thailand Packaging Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Thailand Packaging Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Thailand packaging market is anticipated to register a CAGR of 8.65% over the forecast period (2022-2027). Thailand's economic expansion has led to a steady rise in both the production and consumption of packaging goods throughout time. The Thailand packaging industry is expanding and making a substantial economic contribution. This is as a result of the growing need for packaging supplies that are appropriate for anything and can be used to pack anything.

Key Highlights
  • The Thailand packaging industry has consistently grown over the past 10 years due to changes in substrate preferences, the opening of new markets, and shifting ownership dynamics. Sustainability and environmental concerns may still be highlighted, especially in developed nations, and the industry is seeing a variety of technologies that cater to paper and plastic packaging.
  • Moreover, consumption of non-recyclable plastic packaging is on the rise. As a result, there could be less need for secondary packaging and increasing demand for environmentally friendly packaging materials including paper and board, recovered PET (rPET), and bioplastic
  • Flexible packaging may eventually supplant conventional packaging. For a variety of food goods, high-barrier films and stand-up retort pouches may compete with rigid pack forms like metal cans and glass jars. Consumers' need for convenience in food may be met via microwaveable ready meals, more portable packaging, packaging for consumption on the go, and convenience features like easy-open and reseal components.
  • Furthermore, the complexity and level of competition in the retail industry is another important aspect with an influence on the market. Modern retail trade shops, such supermarkets and convenience stores, which may stock a wider variety of frozen food goods, are more widely used. Flexible packaging for frozen foods, such as shrink films, flexible bags, lidding films, high barrier thermoforming films, and skin films, are being adopted at previously unheard-of rates in a number of growing countries.
  • While regulations emerging on plastic usage could restrain the growth of flexible packaging in Thailand. For instance, on June 2021, five proposed food contact regulations were submitted to the World Trade Organization by the Thai Industrial Standards Institute. Regarding the materials and safety requirements for single-use and reuse under various application scenarios for various polymers, three regulations apply to plastic utensils used for food preparation, storage, or consumption. Similar requirements are set out in the following two rules for both virgin plastic bags and microwavable plastic bags.
  • Despite this, the growth of the e-commerce and delivery industries, along with the COVID-19 epidemic, has led to an increase in demand for flexible packaging in general as well as plastic bags and seals in particular. The TPBI, Thailand's largest plastic manufacturer, claims that beginning March 2020, the company's sales of plastic bags and e-commerce packaging have increased.
Key Market TrendsPlastic is Expected to Hold a Significant Share
  • The Thailand packaging market is distinguished by packaging that improves the usefulness of goods through, among other things, on-the-go packs, sustainable packs, or customized packs. The polyethylene (PE) market in the area is expanding as a result of this tendency. Plastic bags, plastic films, and geomembranes are commonly packaged with polyethylene. This thermoplastic resin is thin, somewhat crystalline, and has strong chemical resistance, little moisture absorption, and sound-insulating qualities.
  • The country's need for PE resin for packaging is expected to soar throughout the projected period, mostly because of the intelligent value chain. Industrial production is changing as a result of Industry 4.0 and the Internet of Things (IoT), and this is opening up new prospects for the PE value chain. The greater traceability provided by Industry 4.0 is expected to play a significant role in ensuring that the package composition can be monitored, particularly where recycled content is present, from the creation of the package through the end product being put on the retail shelf.
  • The risk of health problems brought on by prolonged use of the materials is included in the usage of plastics with hot meals. TSH, HCY, and A1C are all favorably correlated with daily usage of plastics with hot meals, but vitamin E, zinc, and selenium concentrations are adversely correlated. The complicated hormonal and metabolic anomalies connected to the release of certain components caused by the usage of plastics with hot meals are the main focus of future studies on the technology. ​
  • Linear low-density polyethylene (LLDPE) bags feature moderate clarity and are used to manufacture food bags, newspaper bags, shopping bags, and garbage bags. Medium-density polyethylene (MDPE) is commonly used to manufacture garbage bags and in consumer packaging for paper products, such as toilet paper or paper towels.
Food Industry to Drive Market Growth​
  • One-fourth of Thailand's GDP is generated by the food and beverage sector, which makes a substantial economic contribution to the nation, as stated by World Bank. Rice, canned tuna, sugar, pork, cassava products, and canned pineapple are some of the main food exports. Thai food exports were valued at USD 34.6 billion in 2021, up 11.8% from 2020, according to the National Food Institute.
  • Also, the Thailand Plastics Industry Association reports that there is a growing market for plastic packaging in Thailand. Pharmaceuticals, home goods, food and beverage, and flexible plastic-based projects are among the projected items and industries to see demand. Plastic is convenient and often used in food packaging because it is inexpensive, easily processed, formable, chemically resistant, lightweight, and has a wide range of physical qualities.
  • Over the past few years, Thailand has seen a significant increase in spending on bakery goods and cereal bars, short-run ready meals and coffee or hot chocolate sticks and pouches, dry foods (instant soup, gravy and sauce packets, rice, and food mixes), snack foods and nuts, spice foods, chocolates and sweets, ice-cream novelty items, and bakery goods like cookies (biscuits), cakes, and chips.
  • The market is now experiencing a rise in demand for frozen food packaging as a result of customer appreciation of the product quality. The need for frozen food packaging has expanded in Thailand due to the country's expanding economy and evolving lifestyles, and the industry is anticipated to expand profitably over the next years.
  • The market is also significantly impacted by the retail industry's complexity and competitiveness. Modern retail trade locations with a wider selection of frozen food items, such as supermarkets and convenience stores, are more often used. Shrink films, flexible bags, lidding films, high barrier thermoforming films, and skin films are all being adopted at previously unheard-of rates in several new countries for frozen food packaging. ​
Competitive Landscape

The Thailand packaging market is highly fragmented and consists of several major players. The major players with a prominent share in the market such as Dainichiseika Color & Chemicals Mfg. Co., Ltd., Fagerdala Singapore Pte Ltd., Eastern Polypack Co., Ltd., TPBI Public Company Limited, TPAC Packaging, etc., are focusing on expanding their customer base across foreign countries through the adoption of various technologies.

  • May 2022 - SCG Packaging Public Company Limited announced the expansion of the production capacity under its fiber packaging business in Thailand. This is part of the key efforts to strengthen the leadership positions while enhancing the capability to deliver packaging solutions to the growing customer and consumer demands in the country.
  • March 2022 - Toppan, a global provider of integrated solutions in the fields of printing, communications, security, packaging, décor materials, and electronics, and Majend Makcs Co., Ltd. (Majend Makcs), a flexible packaging producer and supplier with its headquarters in Ayutthaya, Thailand, agreed into a share transfer agreement. With the acquisition, Toppan will be able to manufacture flexible packaging in Thailand and export it to markets in Southeast Asia, Europe, and North America.
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1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
4.1 Market Overview
4.2 Industry Value Chain Analysis
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Consumers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
4.4 Assessment of Impact of COVID-19 on the Industry
5.1 Market Drivers
5.1.1 Increasing Demand from End-user Industries
5.1.2 Increased Demand for Convenient Packaging
5.2 Market Restraints
5.2.1 Concerns Regarding the Environment and Recycling
6.1 By Packaging Material
6.1.1 Plastic
6.1.2 Paper and Paperboard
6.1.3 Glass
6.1.4 Metal
6.2 By Packaging Type
6.2.1 Flexible Packaging Pouches Bags Packaging Films Other Product Types
6.2.2 Rigid Packaging Bottles and Jars Corrugated Boxes and Folding Cartons Metal Cans Drums Bulk Containers Other Product Types
6.3 By End User
6.3.1 Food
6.3.2 Beverage
6.3.3 Beauty and Personal Care
6.3.4 Industrial
6.3.5 Pharmaceutical
6.3.6 Other End User Verticals
7.1 Company Profiles
7.1.1 TBPI Public Company Limited
7.1.2 TPAC Packaging
7.1.3 SCG Packaging
7.1.4 Dainichiseika Color & Chemicals Mfg.Co.,Ltd.
7.1.5 Eastern Polypack Co., Ltd.
7.1.6 Huhtamaki Flexible Packaging
7.1.7 Fagerdala Singapore Pte Ltd.
7.1.8 Sealed Air Corporation
7.1.9 Amcor PLC
7.1.10 Toppan (Thailand) Co., Ltd.

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