Market Size of Thailand Folding Cartons and Corrugated Packaging Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
Forecast Data Period | 2024 - 2029 |
Historical Data Period | 2019 - 2022 |
CAGR | 8.42 % |
Market Concentration | Low |
Major Players*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Thailand Folding Cartons & Corrugated Packaging Market Analysis
The Thailand folding carton and corrugated packaging market are expected to register a CAGR of 8.42% during the forecast period. Folding cartons is one of the most used eco-friendly packaging solutions. Its ability to be produced in various sizes with a small footprint, compared to other packaging options, makes it feasible for use in different end-user industries. On the other hand, corrugated board packaging features a versatile and cost-efficient method to protect, preserve, and transport a wide range of products due to attributes such as light weight, biodegradability, and recyclability. It made an integral component of the packaging industry.
- Growth in the market studied is mainly due to the continued demand for packaged food and beverages. Likewise, ThaiBev aimed to increase the recycled paper proportion and use damaged cartons to produce corrugated cartons.
- The industries where folding cartons are mainly used include the food and beverage industry, personal care industry, healthcare industry, household care industry, and others. The country is experiencing a significant shift from plastic to paper-based packaging adoption, expected to generate incremental opportunities for manufacturers in the folding carton packaging market. Since consumers are becoming increasingly aware of plastic adverse effects on the environment, manufacturers are capitalizing on this opportunity to innovate in eco-friendly solutions.
- As the e-commerce demand grows, so does the packaging challenge. Sustainable packaging is an unprecedented priority for both brands and consumers. Implementing eco-packages in brand operations is no longer an option but a necessity.
- The economic development in Thailand resulted in the increased production and consumption of folding cartons and corrugated packaging products. The Thai folding carton packaging industry is witnessing growth and contributing noteworthily to the country'scountry's economy. It is because of the increasing demand for suitable packaging materials that can be used to pack anything across several end-user verticals.
- Online shopping is gradually becoming a significant mainstream in Thailand, with more consumers preferring it due to its convenience. This shift became even more prevalent during the COVID-19 pandemic, with the strict lockdown and social distancing rules being in place. With the Rising E-commerce in the country, the market is increasing after the pandemic.
Thailand Folding Cartons & Corrugated Packaging Industry Segmentation
Folding cartons and corrugated packaging is one of the most used eco-friendly packaging solutions due to their ability to be produced in various sizes with a small footprint, thus, making them feasible for use in different end-user industries. The growth of Thailand's packaging industry is driven by the country's expanding population and high demand for low-cost, flexible packaging. Folding cartons and corrugated packaging are primarily used in various end-user industries, including food and beverage, healthcare and pharmaceutical, and household and personal care.
A complete background analysis of the market, which includes an assessment of the parental market, emerging trends by segments and regional markets, significant changes in market dynamics, and a market overview, is covered in the report. The report also features a qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry's value chain.
The Thailand Folding Cartons and Corrugated Packaging Market is segmented by end-user (food and beverage, healthcare and pharmaceutical, household and personal care, and other end-user industries (manufacturing, automotive, and others)).
The market sizes and forecasts are in terms of value in USD million for all the above segments.
By End User | |
Food and Beverage | |
Healthcare and Pharmaceutical | |
Household and Personal Care | |
Other End-user Industries (Manufacturing, Automotive, etc.) |
Thailand Folding Cartons and Corrugated Packaging Market Size Summary
The Thailand folding carton and corrugated packaging market is poised for significant growth, driven by the increasing demand for eco-friendly packaging solutions across various industries. Folding cartons, known for their versatility and minimal environmental impact, are becoming a preferred choice in sectors such as food and beverages, personal care, healthcare, and household care. The shift from plastic to paper-based packaging is gaining momentum, fueled by consumer awareness of environmental issues and the need for sustainable alternatives. This transition is further supported by the growing e-commerce sector, which demands efficient and sustainable packaging solutions to meet the rising online shopping trends. The economic development in Thailand, coupled with urbanization and a burgeoning middle class, is amplifying the demand for convenient and processed food packaging, thereby bolstering the market for folding cartons and corrugated packaging.
The market landscape is characterized by a high degree of fragmentation, with key players like Siam Toppan Packaging Co. Ltd, Thai Containers Group, and Oji Holdings Corporation actively expanding their capacities and enhancing their product offerings through strategic partnerships and technological advancements. The COVID-19 pandemic has accelerated the adoption of paperboard packaging, as e-commerce sales surged, necessitating increased production of packing boards and specialty papers. Companies like Tetra Pak are leading initiatives to promote environmentally sound packaging materials, aligning with the growing consumer preference for sustainable options. The collaboration between industry players and environmental organizations underscores the commitment to responsible sourcing and production practices, ensuring the market's alignment with global sustainability trends.
Thailand Folding Cartons and Corrugated Packaging Market Size - Table of Contents
-
1. MARKET INSIGHTS
-
1.1 Market Overview
-
1.2 Industry Attractiveness - Porter's Five Forces Analysis
-
1.2.1 Bargaining Power of Suppliers
-
1.2.2 Bargaining Power of Consumers
-
1.2.3 Threat of New Entrants
-
1.2.4 Intensity of Competitive Rivalry
-
1.2.5 Threat of Substitutes
-
-
1.3 Industry Value Chain Analysis
-
-
2. MARKET SEGMENTATION
-
2.1 By End User
-
2.1.1 Food and Beverage
-
2.1.2 Healthcare and Pharmaceutical
-
2.1.3 Household and Personal Care
-
2.1.4 Other End-user Industries (Manufacturing, Automotive, etc.)
-
-
Thailand Folding Cartons and Corrugated Packaging Market Size FAQs
What is the current Thailand Folding Cartons and Corrugated Packaging Market size?
The Thailand Folding Cartons and Corrugated Packaging Market is projected to register a CAGR of 8.42% during the forecast period (2024-2029)
Who are the key players in Thailand Folding Cartons and Corrugated Packaging Market?
Siam Toppan Packaging Co. Ltd, Thai Containers Group (SCG Packaging), Thung Hua Sinn Group, Continental Packaging (Thailand) Co. Ltd and Oji Holdings Corporation are the major companies operating in the Thailand Folding Cartons and Corrugated Packaging Market.