Thailand Flexible Packaging Market Size (2024 - 2029)

The flexible packaging industry in Thailand is experiencing significant growth, driven by its diverse applications in sectors such as food and beverages, pharmaceuticals, and personal care. The market's expansion is supported by the country's robust food industry and increasing consumer demand, fueled by tourism and rising expenditure on convenience foods. Additionally, Thailand hosts numerous packaging expos, fostering innovation and technological advancements in the sector. Despite the competitive landscape and rapid technological changes, the market's potential for growth remains strong.

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Market Size of Thailand Flexible Packaging Industry

Thailand Flexible Packaging Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Market Size (2024) USD 5.12 Billion
Market Size (2029) USD 6.95 Billion
CAGR (2024 - 2029) 6.31 %
Market Concentration Low

Major Players

Thailand Flexible Packaging Market Major Players

*Disclaimer: Major Players sorted in no particular order

Thailand Flexible Packaging Market Analysis

The Thailand Flexible Packaging Market size is estimated at USD 5.12 billion in 2024, and is expected to reach USD 6.95 billion by 2029, growing at a CAGR of 6.31% during the forecast period (2024-2029).

Flexible packaging is produced from paper, plastic, film, aluminum foil, or a combination of those materials. The wide variety of flexible packaging products, such as pouches, bags, sachets, and wraps, available in the market for industries like food and beverages, pharmaceuticals, and personal care boosts the market growth in Thailand.

According to the US Department of Agriculture, Thailand is Southeast Asia's second-largest economy and a major exporter of canned tuna, canned pineapple, and frozen shrimp. Thailand's food industry's revenue is projected to grow to USD 71.79 billion in 2024, driven by the expanding beverage industry, which is estimated to propel the market growth.

The growing tourism in Thailand has contributed to the country's increased food and beverage consumption. According to the Pacific Asia Travel Association, International tourist arrivals in Thailand exceeded 18 million in 2023. Growing consumer expenditure on carbonated drinks, ready-to-eat meals, and baked goods in Thailand drives the market growth.

Also, various packaging expos and events are organized in Thailand every year, where companies showcase new and innovative packaging solutions and advancements in packaging machinery and processing technologies, which helps manufacturers stay ahead of the competition. In June 2024, the International Processing and Packaging Exhibition for Asia will be held in Bangkok, showcasing advanced automation and technology in food and beverage processing and packaging.

However, flexible packaging is a constantly evolving market with changing technological advancements in manufacturing. High competition in the market to enhance the consumer base and high market growth can hamper the market growth in Thailand.

Thailand Flexible Packaging Industry Segmentation

The study covers the flexible packaging market in Thailand, tracking demand for different flexible packaging products offered by various vendors. It also considers the impact of geopolitical scenarios on the market, considering prevailing base scenarios, key themes, and demand cycles related to end-user verticals.

The Thai flexible packaging market is segmented by product type (pouches (type (stand-up and flat), end user (food, beverage, pet food, and other end users)), bags, film-wraps (type (BOPP (biaxially oriented polypropylene), BOPET (biaxially-oriented polyethylene terephthalate), CPP (cast polypropylene), PVC (polyvinyl chloride), PE (polyethylene), other types), end user (food, consumer goods, medical, and other end users), and other product types)). The market sizes and forecasts are provided in terms of value (USD) for all the above segments.

By Product Type
Pouches
Type
Stand-up
Flat
End User
Food
Beverage
Pet Food
Other End Users
Bags
Films and Wraps
Type
BOPP (Biaxially Oriented Polypropylene)
BOPET (Biaxially-oriented Polyethylene Terephthalate)
CPP (Cast Polypropylene)
PVC (Polyvinyl Chloride)
PE (Polyethene)
Other Types
End User
Food
Consumer Goods
Medical
Other End Users
Other Product Types
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Thailand Flexible Packaging Market Size Summary

The flexible packaging industry in Thailand is poised for significant growth, driven by its diverse applications across sectors such as food and beverages, pharmaceuticals, and personal care. This market is characterized by the use of materials like paper, plastic, film, and aluminum foil, which are crafted into various products including pouches, bags, sachets, and wraps. The burgeoning food and beverage sector, bolstered by Thailand's status as a major exporter and its thriving tourism industry, plays a crucial role in this expansion. The increasing consumer demand for convenience foods, coupled with the rise of online grocery services and food delivery, further propels the need for flexible packaging solutions. Events like the International Processing and Packaging Exhibition for Asia highlight the industry's focus on innovation and technological advancements, ensuring that manufacturers remain competitive.

The market landscape is highly competitive, with numerous players such as Thug Hua Sinn Group, Amcor PLC, and Sealed Air Corporation vying for market share. The use of advanced materials like Biaxially Oriented Polypropylene (BOPP) films, known for their high barrier properties, is prevalent in both food and pharmaceutical packaging, extending product shelf life and ensuring quality. The industry's shift towards sustainable packaging solutions is evident through collaborations and innovations aimed at reducing carbon footprints and meeting eco-friendly consumer preferences. Strategic partnerships and acquisitions, such as SCG Packaging's stake in Starprint Vietnam JSC, underscore the industry's focus on expanding market reach and enhancing manufacturing capabilities.

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Thailand Flexible Packaging Market Size - Table of Contents

  1. 1. MARKET INSIGHTS

    1. 1.1 Market Overview

    2. 1.2 Industry Value Chain Analysis

    3. 1.3 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.3.1 Bargaining Power of Suppliers

      2. 1.3.2 Bargaining Power of Buyers

      3. 1.3.3 Threat of New Entrants

      4. 1.3.4 Threat of Substitutes

      5. 1.3.5 Intensity of Competitive Rivalry

    4. 1.4 Impact of Current Geo-political Scenarios on the Market

    5. 1.5 Vendor Level Presence in Major Verticals

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Product Type

      1. 2.1.1 Pouches

        1. 2.1.1.1 Type

          1. 2.1.1.1.1 Stand-up

          2. 2.1.1.1.2 Flat

        2. 2.1.1.2 End User

          1. 2.1.1.2.1 Food

          2. 2.1.1.2.2 Beverage

          3. 2.1.1.2.3 Pet Food

          4. 2.1.1.2.4 Other End Users

      2. 2.1.2 Bags

      3. 2.1.3 Films and Wraps

        1. 2.1.3.1 Type

          1. 2.1.3.1.1 BOPP (Biaxially Oriented Polypropylene)

          2. 2.1.3.1.2 BOPET (Biaxially-oriented Polyethylene Terephthalate)

          3. 2.1.3.1.3 CPP (Cast Polypropylene)

          4. 2.1.3.1.4 PVC (Polyvinyl Chloride)

          5. 2.1.3.1.5 PE (Polyethene)

          6. 2.1.3.1.6 Other Types

        2. 2.1.3.2 End User

          1. 2.1.3.2.1 Food

          2. 2.1.3.2.2 Consumer Goods

          3. 2.1.3.2.3 Medical

          4. 2.1.3.2.4 Other End Users

      4. 2.1.4 Other Product Types

Thailand Flexible Packaging Market Size FAQs

The Thailand Flexible Packaging Market size is expected to reach USD 5.12 billion in 2024 and grow at a CAGR of 6.31% to reach USD 6.95 billion by 2029.

In 2024, the Thailand Flexible Packaging Market size is expected to reach USD 5.12 billion.

Thailand Flexible Packaging Market Report Snapshots

Flexible Packaging Industry in Thailand Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)