Market Size of Thailand Rigid Plastic Packaging Industry
| Study Period | 2022 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2022 - 2022 |
| CAGR (2024 - 2029) | 5.28 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Thailand Rigid Plastic Packaging Market Analysis
The Thailand Rigid Plastic Packaging Market size in terms of shipment volume is expected to grow from 1.91 Million metric tons in 2024 to 2.47 Million metric tons by 2029, at a CAGR of 5.28% during the forecast period (2024-2029).
- The United States Department of Agriculture (USDA) reported that Thailand has the second-largest GDP in the ASEAN region. The nation is home to a vibrant and expanding consumer market bolstered by a rapidly growing middle class. The Bank of Thailand has projected a 3.6% growth for the Thai economy this year, with an uptick to 3.8%.
- As per the USDA, rising consumer spending on convenient food products is fueling the demand for processed and packaged foods in Thailand, subsequently boosting the need for rigid plastic packaging solutions. Moreover, the market for ready-to-eat foods produced in Thailand sees a balanced split between domestic consumption and exports, further energizing the packaging industry. The burgeoning Thai food e-commerce sector has also spurred a rise in the consumption of convenience foods, ready meals, and processed items.
- Thai consumers, driven by a growing appetite for premium products, seek sophisticated flavors and are increasingly mindful of their nutritional intake. This shift has made them more willing to invest in functional products, such as drinks crafted from organic and natural ingredients, thereby energizing the country's beverage sector and amplifying the demand for plastic bottles.
- In Thailand, manufacturers such as Aptar Group Inc., Berry Global Inc., and Amcor Group GmbH are channeling their R&D efforts into creating bottles, containers, trays, jars, and caps. These products, made from Polyethylene (PE) and Polypropylene (PP), cater to diverse sectors including beverages, food, pharmaceuticals, and personal care. Furthermore, these major players are rolling out innovative and customizable rigid plastic products, especially in design and color, further propelling market growth.
- Yet, the market faces a significant hurdle mounting environmental concerns over plastic packaging waste. Thailand's surging plastic production, largely driven by heightened food and beverage consumption, is exacerbating the issue. The mismanagement of plastic waste, especially its entry into water bodies, intensifies the country's plastic waste dilemma, posing challenges to market expansion.
