Thailand Plastic Bottles Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 225.51 Million |
| Market Size (2029) | USD 281.61 Million |
| CAGR (2024 - 2029) | 4.54 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Thailand Plastic Bottles Market Analysis
The Thailand Plastic Bottles Market size is estimated at USD 225.51 million in 2024, and is expected to reach USD 281.61 million by 2029, growing at a CAGR of 4.54% during the forecast period (2024-2029). In terms of production volume, the market is expected to grow from 0.24 million tonnes in 2024 to 0.3 million tonnes by 2029, at a CAGR of 4.45% during the forecast period (2024-2029).
This market study covers plastic bottles crafted from polyethylene, polyethylene terephthalate, and polyphenylene. The Thai market for plastic bottles is on the rise, and it plays a significant role in bolstering the nation's economy.
- Plastic bottles, known for their portability and lightweight nature, have become a favored choice for packaging single-serving and on-the-go food and beverage items. Plastic bottles, known for their portability and lightweight nature, have become a favored choice for packaging single-serving and on-the-go food and beverage items. Several factors, such as ongoing advancements in plastic manufacturing technology and heightened investments in the Thai plastics market, push market growth.
- Thailand's economic development has increased the production and consumption of plastic products. The industry is witnessing growth owing to the increasing demand for suitable packaging materials that can be used to package several products across different end-user verticals. The rising demand from the retail sector for packaged products with extended shelf life and the consumers' demand for products are augmenting the plastic bottle market's sales.
- According to the president of the Thai E-Commerce Association, the e-commerce market in Thailand was anticipated to grow from 8% to 13% in 2023. The market value of e-commerce in the country was recorded at THB 770 billion (USD 20.81 billion) in 2022, reflecting an 8% Y-o-Y increase, and it is projected to reach THB 870 billion (USD 23.51 billion).
- The country also has a few organizations to recycle plastic bottles. For instance, ThaiPlastic Recycle Group Co. Ltd specializes in modern and standardized recycling processes. The company purchases used PET plastic bottles, transforming them into products like plastic flakes (rPET and pet flakes) and cap flakes (rHDPE flakes and rPP flakes). These processed materials serve as raw inputs for diverse sectors, including the PET plastic film and PET plastic box industries.
- According to the Office of Industrial Economics of Thailand, during the first quarter of 2023, the plastics industry experienced a reduction in export volume compared to the previous quarter. The primary reason was the decrease in market demand from significant trading partners, including the United States, Vietnam, and China. The production rate also declined, mainly due to increased crude oil prices and rising costs of raw materials used in manufacturing goods. As a result, business operators opted to adopt a cautious approach and waited to observe the situation regarding raw material prices and the global economic climate.
Thailand Plastic Bottles Market Trends
Plastics such as Polyethylene Terephthalate (PET) to Witness Growth
- In recent years, heightened consumer awareness about the environmental benefits of eco-friendly packaging has propelled the adoption of sustainable packaging solutions. Because of its recyclability and potential for circularity, PET has become an essential resin for eco-friendly packaging materials. Collecting, processing, and converting used PET products into new packaging materials is a significant opportunity to lessen reliance on virgin resources and reduce environmental waste.
- In September 2023, Indorama Ventures Public Company Limited, a global player in sustainable chemicals, announced its milestone achievement of recycling 100 billion post-consumer PET bottles since February 2011. This monumental effort has successfully diverted 2.1 million tons of waste from landfills and has curbed the carbon footprint by 2.9 million tons throughout the product lifecycles. By transforming post-consumer PET bottles into new ones, the company is not just recycling but assigning economic value to waste. This initiative bolsters waste collection systems, reducing waste and a cleaner environment.
- EcoBlue, a recycler of polyolefin and polyethylene terephthalate (PET) located in Rayong, Thailand, has taken a significant step toward sustainable packaging by bolstering its PET recycling capacity. Recently, EcoBlue has added its second Starlinger viscose solid-state polycondensation (SSP) machine, a pivotal upgrade that facilitates the production of food-grade polyethylene terephthalate (PET). With the commissioning of this cutting-edge technology in December 2023, EcoBlue's annual capacity has surged to an impressive 30,000 tonnes of food-grade recycled PET (rPET).
- PET is a preferred raw material across various industries. Its chemical resistance, favorable strength-to-weight ratio, shatterproof nature, and cost-effectiveness make it a go-to choice for packaging consumable products. PET packaging manufacturing consumes less energy and natural resources than glass packaging, including fossil fuels and water.
- According to the Ministry of Industry (Thailand) and Office of Industrial Economics (Thailand), the shipment index of plastics in Thailand in Q3 2023 was 92.69, reaching 99.54 in Q1 2024. Furthermore, plastic materials such as PET's moldability at a lower cost than glass allow brands to craft distinctive packaging designs. This versatility aids in promoting a range of products, from water and carbonated soft drinks to others, ensuring they catch the consumer's eye on store shelves.
Beverage Segment Set for Robust Growth
- Lightweight packaging material is essential for beverage packaging, such as bottles. The improving designs of bottles have led to increased applications, attracting more consumers to purchase nutraceuticals, fruit drinks, meal replacement shakes, fiber supplements, and cold-pressed juices.
- Ready-to-drink beverages and packaged juices became popular due to their portability, hygiene, and superior quality. Plastic bottles have become prevalent for all ages and have been the primary packaging solution for a few years. Also, significant companies are focused on providing a range of beverages in Thailand.
- Coca-Cola (Thailand) Ltd, in partnership with ThaiNamthip Corporation Limited, has made significant strides. Following the debut of 1-l bottles crafted from recycled PET plastic in October 2023, Coca-Cola, under its 'World Without Waste' initiative, has rolled out 300 ml bottles of Coca-Cola Original Taste and Coca-Cola Zero Sugar. With the launch of 1 l and 300 ml Coca-Cola bottles made entirely from recycled PET, the company aims to eliminate over 1,300 tonnes of new plastic usage in Thailand in 2024. Such innovations by beverage companies are expected to fuel market growth.
- According to the Office of Industrial Economics (Thailand), the production volume of carbonated beverages in October 2023 was 242.61 million liters. Thai consumers enjoy an expanded array of beverage choices, particularly in the carbonated soft drinks (CSD) category. Given Thailand's consistently warm and humid tropical climate, CSDs have become the go-to refreshment for many locals on the move. Such a rise in the consumption of carbonated beverages is expected to fuel market growth.
- Changing consumer preferences and evolving beverage consumption patterns fuel the demand for non-alcoholic drinks. As health and wellness take center stage, consumers are looking for diverse, healthier, non-alcoholic options. In Thailand, non-alcoholic beverages encompass the production, distribution, and consumption of alcohol-free beverages. This market features carbonated soft drinks, juices, energy drinks, bottled water, ready-to-drink teas, and functional beverages. Catering to a wide array of consumer preferences, non-alcoholic drinks appeal to individuals across all age groups.
Thailand Plastic Bottles Industry Overview
The Thai plastic bottles market is fragmented, with various domestic and global players such as Union Thai Polyplast Co. Ltd, Victor Group, ALPLA Group, Amcor Group GmbH, and Berli Dynaplast Co. Ltd. Companies are expanding their business through mergers, innovations, collaborations, and more.
- August 2023: ALPLA Group and PTT Global Chemical (GC) introduced Thailand's inaugural food-grade rPET. This rPET is used for the country's first-ever 100% rPET bottles. Thailand's national FDA (Food and Drug Administration) certified the food-grade rPET, and the debut of the 100% rPET bottles signified a significant milestone in the joint venture's partnership with the beverage sector.
Thailand Plastic Bottles Market Leaders
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Union Thai Polyplast Co., Ltd.
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Victor Group
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Amcor Group GmbH
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ALPLA Group
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Berli Dynaplast Co., Ltd.
*Disclaimer: Major Players sorted in no particular order
Thailand Plastic Bottles Market News
- April 2024: Suntory PepsiCo Beverage (Thailand) Co. Ltd, a key player in the Thai beverage market under the Suntory and PepsiCo brands, pushed forward its "Fizzy Consciousness to Change the World" initiative. Starting in April 2024, the company introduced the Pepsi 1.45-l beverage in bottles made entirely from 100% recycled PET (rPET). This move has bolstered its brand image among the environmentally conscious younger generation and positions Suntory PepsiCo Thailand as the pioneer in utilizing 100% rPET bottles for beverage packaging in the country.
- November 2023: At the CPHI India exhibition, Berry Global highlighted its innovative, patient-centric packaging and drug delivery solutions tailored for India and the broader South Asia region. Berry's showcase will feature an array of products from its vast portfolio, such as bottles and other products such as caps, ophthalmic solutions, nasal and throat sprays, vials, dry powder inhalers (DPIs), and pressurized metered dose inhalers (pMDIs). Highlighting the showcase are the company's cutting-edge solutions, which prioritize usability and administration safety, advancements in digitalization for medical devices and primary packaging, and a focus on circular design.
Thailand Plastic Bottles Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumption and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
- 4.1 Market Overview
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4.2 Industry Attractiveness - Porter's Five Forces Analysis
- 4.2.1 Bargaining Power of Suppliers
- 4.2.2 Bargaining Power of Buyers
- 4.2.3 Threat of New Entrants
- 4.2.4 Threat of Substitute Products
- 4.2.5 Intensity of Competitive Rivalry
- 4.3 Industry Value Chain Analysis
5. MARKET DYNAMICS
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5.1 Market Drivers
- 5.1.1 Rise in Demand for RTD and other Beverages
- 5.1.2 Tourism Sector Push the Market Demand
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5.2 Market Challenges
- 5.2.1 Concerns Regarding Recycling and Environment
6. MARKET SEGMENTATION
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6.1 By Resin
- 6.1.1 Polyethylene (PE)
- 6.1.2 Polyethylene Terephthalate (PET)
- 6.1.3 Polypropylene (PP)
- 6.1.4 Other Resins
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6.2 By End-user Industry
- 6.2.1 Food
- 6.2.2 Beverage
- 6.2.2.1 Bottled Water
- 6.2.2.2 Carbonated Soft Drinks
- 6.2.2.3 Alcoholic Beverages
- 6.2.2.4 Juices and Energy Drinks
- 6.2.2.5 Other Beverages
- 6.2.3 Pharmaceuticals
- 6.2.4 Personal Care and Toiletries
- 6.2.5 Industrial
- 6.2.6 Household Chemicals
- 6.2.7 Paints and Coatings
- 6.2.8 Other End-user Industries
7. COMPETITIVE LANDSCAPE
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7.1 Company Profiles*
- 7.1.1 Union Thai Polyplast Co. Ltd
- 7.1.2 Victor Group
- 7.1.3 AGROPACK INDUSTRY CO. LTD
- 7.1.4 Berli Dynaplast Co. Ltd
- 7.1.5 Thai Viwat Plastic Industry
- 7.1.6 THAI PET INDUSTRIAL COMPANY LIMITED
- 7.1.7 Amcor Group GmbH
- 7.1.8 ALPLA Group
- 7.1.9 Berry Global Inc.
- 7.2 Competitor Analysis - Emerging vs. Established Players
8. RECYCLING & SUSTAINABILITY LANDSCAPE
9. FUTURE OF THE MARKET
** Subject To AvailablityThailand Plastic Bottles Industry Segmentation
The scope of the study characterizes the plastic bottles market based on the raw materials of the product, including PP, PE, and PET, used across various end-user industries such as food, pharmaceuticals, beverages, cosmetics, and toiletries. The research also examines underlying growth influencers and significant industry vendors, all of which help to support market estimates and growth rates throughout the anticipated period. The market estimates and projections are based on the base year factors and arrived at top-down and bottom-up approaches.
The Thai plastic bottles market is segmented by resin (polyethylene [PE], polyethylene terephthalate [PET], polypropylene [PP], and other resins) and end-user industry (food, beverage {bottled water, carbonated soft drinks, alcoholic beverages, juices and energy drinks and other beverages [powdered and dairy-based beverages]}, pharmaceuticals, personal care and toiletries, household chemicals, paints and coatings, and other end-user industries). The market sizing and forecasts are provided in terms of value (USD) and volume (tonnes) for all the above segments.
| By Resin | Polyethylene (PE) | |
| Polyethylene Terephthalate (PET) | ||
| Polypropylene (PP) | ||
| Other Resins | ||
| By End-user Industry | Food | |
| Beverage | Bottled Water | |
| Carbonated Soft Drinks | ||
| Alcoholic Beverages | ||
| Juices and Energy Drinks | ||
| Other Beverages | ||
| Pharmaceuticals | ||
| Personal Care and Toiletries | ||
| Industrial | ||
| Household Chemicals | ||
| Paints and Coatings | ||
| Other End-user Industries |
Thailand Plastic Bottles Market Research FAQs
How big is the Thailand Plastic Bottles Market?
The Thailand Plastic Bottles Market size is expected to reach USD 225.51 million in 2024 and grow at a CAGR of 4.54% to reach USD 281.61 million by 2029.
What is the current Thailand Plastic Bottles Market size?
In 2024, the Thailand Plastic Bottles Market size is expected to reach USD 225.51 million.
Who are the key players in Thailand Plastic Bottles Market?
Union Thai Polyplast Co., Ltd., Victor Group, Amcor Group GmbH, ALPLA Group and Berli Dynaplast Co., Ltd. are the major companies operating in the Thailand Plastic Bottles Market.
What years does this Thailand Plastic Bottles Market cover, and what was the market size in 2023?
In 2023, the Thailand Plastic Bottles Market size was estimated at USD 215.27 million. The report covers the Thailand Plastic Bottles Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Thailand Plastic Bottles Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Thailand Plastic Bottles Industry Report
Statistics for the 2024 Thailand Plastic Bottles market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Thailand Plastic Bottles analysis includes a market forecast outlook for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
