Thailand Packaging Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 15.04 Billion |
| Market Size (2029) | USD 18.71 Billion |
| CAGR (2024 - 2029) | 4.46 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Thailand Packaging Market Analysis
The Thailand Packaging Market size is estimated at USD 15.04 billion in 2024, and is expected to reach USD 18.71 billion by 2029, growing at a CAGR of 4.46% during the forecast period (2024-2029).
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 a result of the growing need for packaging supplies that are appropriate for anything and can be used to pack anything.
- The Thai 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 are other important aspects that influence the market. Modern retail trade shops, such as 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, in January 2023, the Thai Industrial Standards Institute (TISI) released the Draft Ministerial Regulation on Plastic Bags for Food (TIS 1027-25xx (20xx)). This outlines safety requirements for substances in the material, as well as specifications for marking, labeling, and testing criteria. It specifically applies to plastic bags made from virgin resin as single-layer plastic films for food packaging. It's important to note that this standard does not apply to custom-printed plastic bags with ink.
Thailand Packaging Market Trends
Plastic is Expected to Hold a Significant Share in the Market
- The Thai 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 during the forecast 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.
The Food Industry is Expected to Drive the Market's 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 the World Bank. Rice, canned tuna, sugar, pork, cassava products, and canned pineapple are some of the main food exports. Food exports were expected to reach THB 1.55 trillion in 2023 and THB 1.65 trillion in 2024, according to the Federation of Thai Industries (FTI), the Thai Chamber of Commerce (TCC), and the National Food Institute (NFI).
- 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 items and industries that are projected to witness 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.
Thailand Packaging Industry Overview
The Thai packaging market is highly fragmented and consists of several major players. Major players with a prominent share in the market, including Dainichiseika Color & Chemicals Mfg. Co. Ltd, Fagerdala Singapore Pte Ltd, Eastern Polypack Co. Ltd, TPBI Public Company Limited, and TPAC Packaging, focus on expanding their customer base across foreign countries by adopting various technologies.
- December 2023 - Kao Industrial (Thailand) Co. Ltd (Kao) teamed up with two leading global packaging experts, SCG Chemicals Co. Ltd (SCGC) and Dow Thailand Group (Dow), to develop recyclable packaging. The goal of the partnership is to offer consumers more sustainable packaging choices, focusing on high-quality, lower carbon footprint, and recyclable packaging. Today, the three companies signed a Memorandum of Understanding (MoU) at Dow Thailand's headquarters in True Digital Park West.
Thailand Packaging Market Leaders
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TPBI Public Company Limited
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TPAC Packaging
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SCG Packaging
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Dainichiseika Color & Chemicals Mfg.Co.,Ltd.
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Eastern Polypack Co., Ltd.
*Disclaimer: Major Players sorted in no particular order
Thailand Packaging Market News
- February 2024: BMW Group Thailand announced its plans to construct a battery packaging plant in Rayong, Thailand. The facility will support the sales of BMW's electric and plug-in hybrid vehicles in Thailand and Southeast Asia.
Thailand Packaging Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
- 4.2 Industry Value Chain Analysis
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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 the Impact of the COVID-19 Pandemic on the Industry
5. MARKET INSIGHTS
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5.1 Market Drivers
- 5.1.1 Increasing Demand from End-user Industries
- 5.1.2 Increased Demand for Convenient Packaging
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5.2 Market Restraints
- 5.2.1 Concerns Regarding the Environment and Recycling
6. MARKET SEGMENTATION
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6.1 By Packaging Material
- 6.1.1 Plastic
- 6.1.2 Paper and Paperboard
- 6.1.3 Glass
- 6.1.4 Metal
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6.2 By Packaging Type
- 6.2.1 Flexible Packaging
- 6.2.1.1 Pouches
- 6.2.1.2 Bags
- 6.2.1.3 Packaging Films
- 6.2.1.4 Other Product Types
- 6.2.2 Rigid Packaging
- 6.2.2.1 Bottles and Jars
- 6.2.2.2 Corrugated Boxes and Folding Cartons
- 6.2.2.3 Metal Cans
- 6.2.2.4 Drums
- 6.2.2.5 Bulk Containers
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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 Users
7. COMPETITIVE LANDSCAPE
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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
- *List Not Exhaustive
8. INVESTMENT ANALYSIS
9. FUTURE OF THE MARKET
Thailand Packaging Industry Segmentation
Packaging is the process of enclosing or containing a product in bottles, plastic bags, wrappers, paper cartons, boxes, etc. It serves the purpose of displaying useful information about the product, including its contents, weight, size, price, constituents, and necessary instructions for usage and storage. Packaging helps reduce the risk of wastage, spoilage, leakage, and evaporation during transportation and storage.
The Thai packaging market is segmented by packaging material (plastic, paper, paperboard, glass, and metal), packaging type (flexible packaging (pouches, bags, and packaging films), rigid packaging (bottles and jars, corrugated boxes and folding cartons, metal cans, drums, and bulk containers)), and end user (food, beverage, beauty and personal care, industrial, pharmaceutical, and other end users). The market sizes and forecasts are provided in terms of value (USD) for all the above segments.
| By Packaging Material | Plastic | |
| Paper and Paperboard | ||
| Glass | ||
| Metal | ||
| By Packaging Type | Flexible Packaging | Pouches |
| Bags | ||
| Packaging Films | ||
| Other Product Types | ||
| By Packaging Type | Rigid Packaging | Bottles and Jars |
| Corrugated Boxes and Folding Cartons | ||
| Metal Cans | ||
| Drums | ||
| Bulk Containers | ||
| By End User | Food | |
| Beverage | ||
| Beauty and Personal Care | ||
| Industrial | ||
| Pharmaceutical | ||
| Other End Users |
Thailand Packaging Market Research FAQs
How big is the Thailand Packaging Market?
The Thailand Packaging Market size is expected to reach USD 15.04 billion in 2024 and grow at a CAGR of 4.46% to reach USD 18.71 billion by 2029.
What is the current Thailand Packaging Market size?
In 2024, the Thailand Packaging Market size is expected to reach USD 15.04 billion.
Who are the key players in Thailand Packaging Market?
TPBI Public Company Limited, TPAC Packaging, SCG Packaging, Dainichiseika Color & Chemicals Mfg.Co.,Ltd. and Eastern Polypack Co., Ltd. are the major companies operating in the Thailand Packaging Market.
What years does this Thailand Packaging Market cover, and what was the market size in 2023?
In 2023, the Thailand Packaging Market size was estimated at USD 14.37 billion. The report covers the Thailand Packaging Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Thailand Packaging Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Packaging in Thailand Industry Report
Statistics for the 2024 Packaging in Thailand market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Packaging in Thailand analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
