Thailand Plastic Caps and Closures Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 2.94 Billion |
| Market Size (2029) | USD 3.63 Billion |
| CAGR (2024 - 2029) | 4.31 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Thailand Plastic Caps and Closures Market Analysis
The Thailand Plastic Caps And Closures Market size is estimated at USD 2.94 billion in 2024, and is expected to reach USD 3.63 billion by 2029, growing at a CAGR of 4.31% during the forecast period (2024-2029). In terms of shipment volume, the market is expected to grow from 14.81 billion units in 2024 to 17.19 billion units by 2029, at a CAGR of 3.03% during the forecast period (2024-2029).
- Thailand is the second-largest market in the ASEAN region. Demand for new and innovative food and beverage products is propelled by rising incomes among the upper-middle class, urbanization trends, and a growing young population, all contributing to a significant boost in market growth.
- Thailand, a prominent player in the global food and agricultural export landscape, boasts a robust food processing industry that drives the demand for caps and closures. The rising demand for processed food and increased consumer spending on convenience foods in Thailand are critical drivers of growth in the food processing ingredients sector. Given the escalating worldwide appetite for processed foods, Thai processors heavily rely on imports, as some essential raw materials are not locally sourced which significantly augments the market growth in the country.
- Additionally, the growing consumption of bottled water in Thailand due to increasing tourism and the rising demand for clean, uncontaminated water from restaurants, hotels, and entertainment places expands the market for caps and closures. Moreover, the significant growth of Thai food E-commerce has also contributed to the increased consumption of juices, soft drinks, and other beverages.
- Caps and closures play a crucial role in beverage packaging, safeguarding the quality of beverages for consumers. These seals not only ensure product safety but also offer convenient opening and resealing features. Technological advancements in plastic packaging have spurred a wave of product development innovations in the beverage caps and closures industry. In Thailand, a growing number of companies are channeling significant resources into R&D, resulting in a notable uptick in innovative offerings within this sector.
- Yet, the rising environmental apprehensions surrounding plastic packaging waste in Thailand are impeding market growth. The waste generated by these plastic caps and closures not only raises environmental alarms but also poses economic challenges for manufacturers, constituting a significant hurdle to the market's expansion in Thailand.
Thailand Plastic Caps and Closures Market Trends
Polyethylene (PE) Segment is Estimated to Have the Largest Market Share
- Packaging plays a vital role in safeguarding the quality of beverages. Polyethylene, notably in its high-density (HDPE) and low-density (LDPE) forms, is a prevalent choice for bottle caps. HDPE caps, known for their robustness, exhibit exceptional resistance to both moisture and chemicals, rendering them versatile across various applications. This enhances the popularity of PE for making caps and closures.
- HDPE plastics are gaining favor over LDPE in Thailand due to their durability and cost-efficiency. HDPE is extensively employed in packaging caps and closures across industries, including food and beverage, pharmaceuticals, personal care, and household products. While LDPE is less rigid and chemically resistant than HDPE, it shares a similar composition. LDPE's flexibility makes it a staple in packaging, especially for crafting items such as caps, closures, and dispenser solutions.
- Amcor Group GmbH and Berry Global Inc. are prominent PE caps and closures manufacturers, catering to various industries like food, beverages, home care, and personal care. These caps come in different sizes, tailored for child-resistant, dispensing, and tethered applications, driving market growth.
- The cosmetic industry in Thailand is witnessing a surge, thanks to the rising adoption of PE for caps and closures in products like creams, serums, and moisturizers. Thailand, known for its beauty and cosmetics sector, notably exports to countries like China, Myanmar, India, the Philippines, and Australia. Recent data from the International Trade Centre (ITC) reveals that Thailand's beauty product exports hit a value of USD 824.22 Million, marking a notable 21.89% increase from the previous year.
Beverage Industry Expected to Dominate the Market
- Thailand's tourism growth, due to eased travel restrictions and diverse tourist attractions, is creating business. The growing consumption of beverages such as bottled water in Thailand drives the demand for caps and closures.
- Consumers in Thailand have increasingly become health-conscious and are turning to beverages that promise added health benefits or help alleviate the stresses of daily life. Often enriched with vitamins, minerals, and bioactive compounds, these drinks cater to a demographic prioritizing wellness, a trend amplified post the COVID-19 era. The rising trend for healthy foods and beverages, including zero-sugar healthy juices and energy drinks, is fueling a surge in demand for caps and closures in Thailand.
- In Thailand, major carbonated soft drink players such as Coca-Cola and Pepsi are actively introducing a range of new flavors to meet the rising consumer appetite, consequently driving demand for caps and closures. In June 2024, Coca-Cola Thailand recently rolled out "Schweppes" zero-sugar soda in two citrus variants, targeting the country's younger demographic. This new offering is being distributed in cans through numerous channels, including convenience stores, supermarkets, and online platforms, poised to propel market expansion further.
- The rising exports of non-alcoholic beverages from Thailand significantly impact the demand for caps and closures in the nation. USDA data reveals that Thailand's bottled beverage exports rose from USD 1.57 billion in 2022 to USD 1.60 billion in 2023, hinting at a boost in market growth.
Thailand Plastic Caps and Closures Industry Overview
The Thailand plastic caps and closures market is moderately consolidated, with domestic players such as Crown Seal Public Company Limited and International players including Berry Global Inc., Tetra Pak, and Aptar Group Inc. operating in the market. To solidify their footprint in the market, the players focus on new product development, partnerships, participation in trade expos, mergers and acquisitions, and collaborations.
- June 2023: Crown Seal Public Company Limited, a Thailand-based company, participated in the ProPak Asia 2023 exhibition in Bangkok. The company exhibited its packaging products specifically for the food and beverage industry at the expo. The company's Research and Development division unveiled groundbreaking advancements, particularly in Bioplastic caps and CS-Plus caps, to address environmental concerns.
Thailand Plastic Caps and Closures Market Leaders
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Berry Global Inc.
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Aptar Group Inc.
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Crown Seal Public Company Limited
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Precision Plastic Co. Ltd.
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Tetra Pak International SA
*Disclaimer: Major Players sorted in no particular order
Thailand Plastic Caps and Closures Market News
- May 2024: United Caps, a European company, featured its extensive product range of tethered and untethered beverage caps and closures at the ProPak Asia expo at the Bangkok International Trade & Exhibition Centre (BITEC) in Thailand.
- May 2024: Aptar Group Inc., a United States-based company with operations in Thailand, unveiled its latest packaging innovations for skincare, personal care, and fragrances at Luxe Pack in New York. Among its highlights were Aerosol Packaging, Fragrance Spray Pumps, and NeoDropper packaging tailored for the personal care and cosmetics sectors.
Thailand Plastic Caps and Closures 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 INSIGHTS
- 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 Buyers
- 4.3.3 Threat of New Entrants
- 4.3.4 Threat of Substitutes products
- 4.3.5 Intensity of Competitive Rivalry
5. MARKET DYNAMICS
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5.1 Market Drivers
- 5.1.1 Growing Food and Beverage Industry in the Country
- 5.1.2 Advancements in Caps and Closures in the Market
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5.2 Market Challenge
- 5.2.1 Rising Environmental Concerns Regarding Plastic Waste
6. INDUSTRY REGULATION, POLICY AND STANDARDS
7. MARKET SEGMENTATION
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7.1 By Resin
- 7.1.1 Polyethylene (PE)
- 7.1.2 Polyethylene Terephthalate (PET)
- 7.1.3 Polypropylene (PP)
- 7.1.4 Other Plastic Materials (Polystyrene, PVC, Polycarbonate, etc.)
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7.2 By Product Type
- 7.2.1 Threaded
- 7.2.2 Dispensing
- 7.2.3 Unthreaded
- 7.2.4 Child-Resistant
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7.3 By End-Use Industries
- 7.3.1 Food
- 7.3.2 Beverage
- 7.3.2.1 Bottled Water
- 7.3.2.2 Carbonated Soft Drinks
- 7.3.2.3 Alcoholic Beverages
- 7.3.2.4 Juices & Energy Drinks
- 7.3.2.5 Other Beverages
- 7.3.3 Personal Care & Cosmetics
- 7.3.4 Household Chemicals
- 7.3.5 Other End-Use Industries
8. COMPETITIVE LANDSCAPE
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8.1 Company Profiles
- 8.1.1 Amcor Group GmbH
- 8.1.2 Berry Global Inc.
- 8.1.3 Crown Seal Public Company Limited
- 8.1.4 Tetra Pak International SA
- 8.1.5 Aptar Group Inc.
- 8.1.6 Berli Dynaplast Co. Ltd.
- 8.1.7 Percision Plastic Co. Ltd.
- 8.1.8 Weener Plastics Group B.V.
- *List Not Exhaustive
9. RECYCLING & SUSTAINABILITY LANDSCAPE
10. FUTURE OUTLOOK
** Subject To AvailablityThailand Plastic Caps and Closures Industry Segmentation
The scope of the study characterizes the plastic caps and closures market based on the raw material of the product, including PP, PE, PET, and other raw materials used across various end-user industries such as Food, Pharmaceuticals, Beverage, Cosmetics and Toiletries and more across the country. 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.
Thailand Plastic Caps and Closures Market is Segmented by Resin (Polyethylene (PE), Polyethylene Terephthalate (PET), Polypropylene (PP) and Other Plastic Materials), by Product Type (Threaded, Dispensing, Unthreaded, and Child-Resistant), by End-Use Industries (Food, Beverage (Bottled Water, Carbonated Soft Drinks, Alcoholic Beverages, Juices and Energy Drinks and Others), Personal Care and Cosmetics, Household Chemicals, and Other End-Use Industries). The Market Sizing and Forecasts are Provided in Terms of Volume (Units) and Revenue (USD) for all the Above Segments.
| By Resin | Polyethylene (PE) | |
| Polyethylene Terephthalate (PET) | ||
| Polypropylene (PP) | ||
| Other Plastic Materials (Polystyrene, PVC, Polycarbonate, etc.) | ||
| By Product Type | Threaded | |
| Dispensing | ||
| Unthreaded | ||
| Child-Resistant | ||
| By End-Use Industries | Food | |
| Beverage | Bottled Water | |
| Carbonated Soft Drinks | ||
| Alcoholic Beverages | ||
| Juices & Energy Drinks | ||
| Other Beverages | ||
| Personal Care & Cosmetics | ||
| Household Chemicals | ||
| Other End-Use Industries |
Thailand Plastic Caps and Closures Market Research FAQs
How big is the Thailand Plastic Caps And Closures Market?
The Thailand Plastic Caps And Closures Market size is expected to reach USD 2.94 billion in 2024 and grow at a CAGR of 4.31% to reach USD 3.63 billion by 2029.
What is the current Thailand Plastic Caps And Closures Market size?
In 2024, the Thailand Plastic Caps And Closures Market size is expected to reach USD 2.94 billion.
Who are the key players in Thailand Plastic Caps And Closures Market?
Berry Global Inc., Aptar Group Inc., Crown Seal Public Company Limited, Precision Plastic Co. Ltd. and Tetra Pak International SA are the major companies operating in the Thailand Plastic Caps And Closures Market.
What years does this Thailand Plastic Caps And Closures Market cover, and what was the market size in 2023?
In 2023, the Thailand Plastic Caps And Closures Market size was estimated at USD 2.81 billion. The report covers the Thailand Plastic Caps And Closures Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Thailand Plastic Caps And Closures Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Thailand Plastic Caps and Closures Industry Report
Statistics for the 2024 Thailand Plastic Caps And Closures market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Thailand Plastic Caps And Closures 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.
