The Market Insights Reports has added a new statistical data to its repository titled as, Thailand Flexible Packaging Market. It provides the industry overview with market growth analysis with a historical & futuristic perspective for the following parameters; cost, revenue, demands, and supply data (as applicable). Furthermore, the report also sheds light on recent developments and technological platforms, in addition to distinctive tools, and methodologies that will help to propel the performance of industries.
The Thai packaging market is expected to register a CAGR of 3.2% during the forecast period (2021 – 2026).
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Top Key Players in the Thailand Flexible Packaging Market are Thai Packaging & Printing Public Company Limited, Sarnti Packaging Co. Ltd, Pongslip Plastic Company, Thug Hua Sinn, and others.
Industry News and Update:
– In February 2020, Toppan Launched Food Packaging System for Freshness Preservation and Lower Environmental Impact. The food packaging system called Green Flat addresses the need to reduce plastic packaging and can be used as an alternative to conventional skin packs.
Key Market Trends:
BOPP is Expected to Hold a Significant Share
– The Thai packaging industry is characterized by packages that enhance the functionality of the products through on-the-go packs, sustainable packs, or personalized packs, among others. This trend is boosting the growth of the BOPP market in the region.
– Thailand is one of the most exciting beverage markets in Southeast Asia due to the rising per capita consumption of several beverages. Despite the recent political and economic turmoil, Thailand continues to be one of the most promising global markets for beverages. BOPP/pearl BOPP and single layer BOPP materials are often used for bottle label films.
– Thailand’s rising incomes are generating optimism about the future among its people, increasing consumer demand for a wide variety of beverages. This is good news for BOPP film manufacturers, as this form of customizable printed packaging is increasing its total market share in the beverage industry year after year.
– Amid rising health awareness, the perception of consumers regarding healthy bottled water, RTD tea, energy drinks, and juice has enabled these segments to register steady growth rates. In contrast, carbonated beverages have registered modest growth rates, compared to their brisk growth a few years back.
Food and Beverages Industry to Drive the Market Growth
– According to the Thai Plastics Industry Association, the demand for plastic packaging continues to expand in Thailand. Flexible plastic-based projects are expected to witness demand across products and sectors, including beverage, food and water, household, and pharmaceutical sectors. The convenience and widespread use of plastic in food packaging is owed to its low cost, ease of processability, formability, chemical resistance, lightweight, and a variety of physical properties.
– PE and PP are the main polymers used for beverages in Thailand. PE’s main market is in large volume juices, milk, and water. PE is also dominant in most medium and small volume beverage markets. Bottled water is presently the second major beverage type, by volume, in the Southeast Asian region, trailing behind carbonated soft drinks.
– There is a surge in the growth even during the ongoing lockdown caused due to COVID-19. Sales volume has increased 40-50% with gains in exports and domestic sales. In the food packaging category, TPBI saw a 10% increase in sales with the shutdown, pushing many into panic-buying groceries.
– Also, Eka Global, a Thai plastic packaging company, reported that it had doubled the production of its longevity flexible packaging to 20 million pieces per month from 8 million pieces per month, due to the increasing demand.
Full Browse the report description and TOC:
Highlights of TOC:
Market Overview: It starts with product overview and scope of the Thailand Flexible Packaging market and later gives consumption and production growth rate comparisons by application and product respectively. It also includes a glimpse of the regional study and Flexible Packaging market size analysis for the review period 2015-2026.
Company Profiles: Each company profiled in the report is assessed for its market growth keeping in view vital factors such as price, Flexible Packaging market gross margin, revenue, production, markets served, main business, product specifications, applications, and introduction, areas served, and production sites.
Manufacturing Cost Analysis: It includes industrial chain analysis, manufacturing process analysis, the proportion of manufacturing cost structure, and the analysis of key raw materials.
Market Dynamics: Readers are provided with a comprehensive analysis of Flexible Packaging market challenges, influence factors, drivers, opportunities, and trends.
Market Forecast: Here, the Flexible Packaging report provides consumption forecast by application, price, revenue, and production forecast by product, consumption forecast by region, production forecast by region, and production and revenue forecast.
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