“Trends and Opportunities in the Thai Packaging Industry”, the report brings together multiple data sources to provide a comprehensive overview of the Thai packaging market. It includes market overview, growth analysis by pack material and industry, pack material growth analysis by industry and sector, analysis by pack material, and trends, case studies, and future outlook.
The packaging industry in Thailand is estimated to decline from 2,286 billion units in 2018 to 2,117.3 billion units by 2023, registering a negative CAGR of 1.5%. The Thai packaging industry is characterized by packages that enhance the functionality of the products through on-the-go packs, sustainable packs or personalized packs, among others. In terms of packaging material, rigid plastics is forecast to be the highest market share gainer and is forecast to grow at a CAGR of 7% during 2018–2023, driven by strong growth in the non-alcoholic beverages industry (soft drinks sector) which accounted for 50% share in 2018.
All non-essential establishments in Thailand were closed from 21 March 2020, with only takeaway and delivery services allowed from foodservice outlets. A cross-border travel ban was put in place, with the exception of diplomats, work permit holders, people working in the transportation of goods, as well as those with the express permission of the Prime Minister to enter the country.
The packaging sector in Thailand is expected to reach 74.5 billion units by 2024 at a compound annual growth rate (CAGR) of 2.7% for the forecast period of 2019-2024, says GlobalData, a leading data and analytics company.
GlobalData’s report, ‘Thailand Packaging Industry – Trends and Opportunities’ reveals that the sector is majorly driven by growth in the rigid plastics packaging, which is forecast to register the fastest volume CAGR of 3.0% during 2019–2024. The category is closely followed by paper & board packaging, which is expected to record a CAGR of 2.8% during the next five years.
Rigid plastics was the most consumed pack material in Thailand packaging industry that accounted for a market share of 35.8% in 2019. It is expected to reach 36.3% by 2024. Glass and flexible packaging were the other popular pack materials.