Thailand Folding Carton Packaging Market Size (2024 - 2029)

The Thailand Folding Carton Packaging Market is experiencing growth driven by a shift from plastic to paper-based solutions, particularly in response to environmental concerns. This transition is creating opportunities for manufacturers as they innovate eco-friendly packaging options. The market's expansion is further supported by the increasing use of paper-based packaging in various industries, including food and beverage, personal care, and healthcare. However, the market's growth is somewhat constrained by the volatility in raw material prices, which impacts manufacturing costs. Additionally, the rise of online shopping in Thailand, accelerated by the COVID-19 pandemic, is contributing to the increased demand for folding carton packaging.

Market Size of Thailand Folding Carton Packaging Industry

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Thailand Folding Carton Packaging Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Market Size (2024) USD 2.52 Billion
Market Size (2029) USD 3.33 Billion
CAGR (2024 - 2029) 5.74 %
Market Concentration Low

Major Players

Thailand Folding Carton Packaging Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Thailand Folding Carton Packaging Market Analysis

The Thailand Folding Carton Packaging Market size is estimated at USD 2.52 billion in 2024, and is expected to reach USD 3.33 billion by 2029, growing at a CAGR of 5.74% during the forecast period (2024-2029).

  • The e-commerce industry has emerged as a key driver in Thailand in recent years with the increasing adoption of folding carton packaging. The increasing concerns of Thai people associated with packaging waste are likely to compel the government to implement regulations that prompt the citizens to adopt eco-friendly options, such as folding cartons, as a viable choice for packaging. For instance, in January 2020, the Thai government banned the usage of single-use plastic bags at major stores and implemented a complete ban in 2021 to reduce waste. This move resulted in increased adoption of innovative paper-based packaging developments such as folding cartons in the country.
  • The continuously increasing demand for packaged food and beverages is further proliferating the demand for folding carton packaging in various types and shapes. In response, beverage companies such as ThaiBev have emphasized increasing the proportion of recycled paper and the use of damaged cartons in the production of corrugated cartons. As per data from the US Department of Agriculture and Global Agriculture Information Network, the total sales value of packaged food in Thailand reached approximately USD 15.95 billion compared to USD 15.18 billion in 2022.
  • Fluctuating prices of raw materials, crucial for folding carton packaging, pose a significant challenge to market growth. Given that paperboard, the primary material is highly sensitive to global pulp and paper dynamics, it directly impacts the profitability of vendors. This effect is particularly pronounced for smaller companies with limited negotiating power. For instance, according to the Ministry of Industry and Ministry of Commerce Thailand, during the third quarter of 2023, the export value of pulp, paper, and print media in Thailand amounted to approximately USD 653.05 million. In comparison, during the third quarter of 2023, the import value of pulp, paper, and print media in Thailand amounted to around USD 798.73 million. This imbalance between imports and exports leads to price volatility.
  • Online shopping has become mainstream in Thailand, with more consumers preferring it due to its convenience. This shift was mainly augmented by the COVID-19 pandemic, with the strict lockdown and social distancing restrictions resulting in increased spending on online shopping and packaged foods, leading to increased demand for folding carton packaging in Thailand.

Thailand Folding Carton Packaging Industry Segmentation

Folding carton packaging is one of the most used eco-friendly packaging solutions due to its ability to be produced in various sizes with a small footprint. This factor makes it feasible for use in different end-user industries.

The Thai folding carton packaging market is segmented by end users (food and beverage, healthcare, household and personal care, industrial, and other end users). The market sizes and forecasts are provided in terms of value in USD for all the above segments.

End-User
Food and Beverage
Healthcare
Household and Personal Care
Industrial
Other End Users
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Thailand Folding Carton Packaging Market Size Summary

The Thailand folding carton packaging market is poised for significant growth, driven by a shift towards eco-friendly and sustainable packaging solutions. As consumers become more environmentally conscious, there is a notable transition from plastic to paper-based packaging across various industries, including food and beverage, personal care, healthcare, and household care. This shift is creating new opportunities for manufacturers to innovate and expand their offerings in the folding carton sector. The increasing demand for packaging solutions that align with sustainable practices is further fueled by the rise of e-commerce, which has seen a substantial increase in Thailand, particularly during and after the COVID-19 pandemic. The convenience of online shopping has led to a surge in demand for packaging materials that are both functional and environmentally friendly.

The market is also experiencing growth due to the expanding middle-class population and urbanization, which have increased the demand for convenient and processed food options. The dairy packaging sector, in particular, is seeing a rise in the use of folding carton packaging, with liquid cartons being the preferred choice for dairy products. Companies like Tetra Pak are leading initiatives to promote the use of recyclable and responsibly sourced packaging materials, further supporting the market's expansion. Despite challenges such as volatile raw material prices, the market is supported by technological advancements and product innovations, with both large and mid-size companies actively securing new contracts and exploring new markets to meet the growing demand.

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Thailand Folding Carton Packaging Market Size - Table of Contents

  1. 1. MARKET INSIGHTS

    1. 1.1 Market Overview

    2. 1.2 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.2.1 Bargaining Power of Suppliers

      2. 1.2.2 Bargaining Power of Consumers

      3. 1.2.3 Threat of New Entrants

      4. 1.2.4 Threat of Substitutes

      5. 1.2.5 Intensity of Competitive Rivalry

    3. 1.3 Assessment of Impact of Microeconomic Factors on the Industry

  2. 2. MARKET SEGMENTATION

    1. 2.1 End-User

      1. 2.1.1 Food and Beverage

      2. 2.1.2 Healthcare

      3. 2.1.3 Household and Personal Care

      4. 2.1.4 Industrial

      5. 2.1.5 Other End Users

Thailand Folding Carton Packaging Market Size FAQs

The Thailand Folding Carton Packaging Market size is expected to reach USD 2.52 billion in 2024 and grow at a CAGR of 5.74% to reach USD 3.33 billion by 2029.

In 2024, the Thailand Folding Carton Packaging Market size is expected to reach USD 2.52 billion.

Thailand Folding Carton Packaging Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)