Thailand Flexible Plastic Packaging Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Volume (2024) | 0.47 Million tonnes |
| Market Volume (2029) | 0.68 Million tonnes |
| CAGR (2024 - 2029) | 7.67 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Thailand Flexible Plastic Packaging Market Analysis
The Thailand Flexible Plastic Packaging Market size in terms of shipment volume is expected to grow from 0.47 Million tonnes in 2024 to 0.68 Million tonnes by 2029, at a CAGR of 7.67% during the forecast period (2024-2029).
A surge in demand for plastic-based products and ongoing technological advancements are driving the Thai flexible packaging market. Plastic-based flexible packaging products have gained significant traction among industrial buyers and consumers in Thailand.
- Flexible plastic packaging products are made from plastic materials such as polyethylene, biaxially oriented polypropylene, and cast polyphenylene. These products witnessed increased sales in food, pharmaceutical packaging, and other end-user industries.
- The rise in e-commerce and food delivery services, consumers' growing requirement for hygiene, convenience, and product safety, increasing investments in the market, demand for longer shelf life, and changing lifestyles are some of the major factors driving the market's growth in the country. The nation's economic expansion led to an increase in the production and consumption of flexible plastic packaging products.
- Thailand is the top pick for global corporations eyeing the Southeast Asian market. Thailand secured the position of the world's second-largest bioplastic producer, according to the report of the Thai Bioplastics Industry Association (TBIA). This could be primarily attributed to manufacturers expanding their output, with approximately 90% of the production earmarked for exports. While overall turnover is set to rise, a shift in consumer opinion toward environmental concerns is dampening the demand for traditional plastic products, notably plastic bags.
- Thailand's food and beverage industry is a vital driver of the nation's economic growth. As one of the global leading net food exporters, Thailand's revenue surged. The sector is poised to exhibit resilience in the coming years, bolstering the demand for adaptable packaging solutions within the food and beverage industry. Data from the Office of Industrial Economics, Thailand, showed that food exports in Q1/2023 reached USD 9,044.83 million, marking an 11% uptick from the previous year.
- The country also witnessed that packaging is one of the primary sources of plastic waste. The plastic waste problem in Thailand is a primary environmental concern related to plastic pollution and safe disposal. Despite efforts to use alternative materials and recent developments in biodegradable plastics, the situation still needs improvement. According to the World Bank, despite the high municipal solid waste collection and recycling rate of 88.8% in Thailand, uncollected plastic waste results in an estimated 428 kilotons/year of mismanaged plastic waste.
Thailand Flexible Plastic Packaging Market Trends
The Demand for Convenient Packaging is Rising
- Flexible packaging's convenience and sustainability resulted in its application in non-invasive pharmaceutical liquids for safe, sterile, and controlled use at laboratories, medical facilities, and inter-hospital transit.
- Manufacturers offer improved features; however, consumers are always looking for more convenient packaging options. For instance, Thung Hua Sinn Co. Ltd, Toppan Co. Ltd, and other vendors offer packaging features, such as tin-ties, pocket zippers, retorts, and spouts, to help customers customize their bags. According to the US Department of Agriculture, the total sales value of packaged food was USD 14.41 billion in 2020, which reached USD 15.95 billion in 2023. Such growth in packaged food is expected to boost the market's growth.
- As consumers look for easy-to-use and lightweight packaging, vendors are developing innovative packaging solutions to remain competitive in the growing organized retail and processed food market and keep up with the changing customer demands. Shifting to an alternative lighter material, such as flexible pouches, provides more significant energy-saving benefits.
- The growing urban lifestyle of Thai consumers has been pushing the demand for packaged convenience food. Convenience stores are gaining importance for consumers amid the country’s urbanization. They are expected to remain a key channel for manufacturers to target, according to the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP). Thailand’s urban population comprised almost half the total population, nearly 51.4%, in 2023.
- The country's embrace of modern retail formats and the expanding array of processed, ready-to-eat foods have increased demand, drawing in consumers seeking convenient groceries. Additionally, local consumers' rising adoption of Western eating habits, bolstered by immigrants, tourists, and the younger demographic, is fueling the appetite for packaged foods. As lifestyles evolve and households shrink, there's a notable pivot toward flexible plastic packaging, catering to the demand for single-serve options.
Food Packaging is Expected to Witness Growth in the Country
- Flexible packaging is widely used for food products because it can preserve freshness, enhance shelf life, and protect against contamination. Mostly, it is made of plastic and is used for various food products, including fresh produce, meat and poultry, dairy products, snacks, and ready-to-eat meals. According to the OECD, poultry consumption per capita in 2021 was 7.24 kilograms and is expected to reach 7.68 kilograms in 2024.
- The increasing demand for packaged food products drives the need for flexible plastic packaging in the food segment. In addition to food delivery from restaurants, online grocery services are also on the rise in Thailand. The food delivery industry in Thailand has seen tremendous growth in recent years due to the rising demand for online ordering and the need for speed and convenience in food delivery.
- Thailand's exposure to global food (prepared/processed) has changed consumer habits, including attitudes toward food and consumption habits. The demand in Thailand has shifted toward processed and packaged ready-to-eat foods sold mainly in supermarkets and convenience stores.
- The market for pouch packaging is growing rapidly in the food segment. Pouch packaging is replacing traditional materials like paperboard, metals, and glass due to its advantages, such as being lightweight and low cost. Flexible packaging enhances the sustainability of the product by extending its shelf life and introducing innovations in the frozen food market while minimizing spoilage.
- The market segment is experiencing a new wave of consumer preference toward frozen foods, driving market demand. Part of this is the consumer shift toward spending more on higher-quality food products.
Thailand Flexible Plastic Packaging Industry Overview
The Thai flexible plastic packaging market is fragmented with domestic and global players such as Mondi PLC, Amcor PLC, Sealed Air Corporation, Berry Global Inc., Huhtamaki Oyj, TPBI Public Company Limited, and SCG Packaging Public Company Limited. Players operating in the region are focused on expanding their business through mergers, collaborations, acquisitions, product innovations, and more.
Thailand Flexible Plastic Packaging Market Leaders
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Amcor Plc
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Mondi Plc
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Huhtamaki Oyj
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Sealed Air Corporation
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SCG Packaging Public Company Limited
*Disclaimer: Major Players sorted in no particular order
Thailand Flexible Plastic Packaging Market News
- June 2024: SCG Packaging Public Company Limited (SCGP) collaborated in the “Sanofi Planet Care Upcycling Program” to transform recycled plastic pellets into new packaging. Sanofi, SCGC, and Cirplas spearheaded Thailand's "Reviving Used Insulin Pens" initiative. It marked the country's debut in employing Advanced Recycling technology to convert pens into plastic pellets, promoting a "Check, Remove, Dispose" behavior. This plan is expected to repurpose plastic pellets into diverse packaging solutions, enhancing their value, fostering resource circulation, and championing resource reusability.
- May 2024: May 2024 - Mondi’s WalletPack is a PP based solution which is designed for recyclability. This packaging is purposefully developed with recycling in mind, aligning with our customer’s goals, and NPA's missions as an approved producer responsibility organisation dedicated to advancing circular and traceable material recycling. WalletPack can be effectively sorted by Site Zero, Europe’s largest and most advanced plastic recycling facility located in Sweden and is thereby contributing to a circular economy. It replaces the previous solution, which was an unrecyclable multi-material pack that consisted of PET-PE and PA-PE laminates.
Thailand Flexible Plastic 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 INSIGHTS
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Force 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
5.1 Market Drivers
5.1.1 Rising Demand for Convenient Packaging
5.2 Market Restraints
5.2.1 Concerns Regarding The Environment And Recycling
6. MARKET SEGMENTATION
6.1 By Material Type
6.1.1 Polyethene (PE)
6.1.2 Bi-oriented Polypropylene (BOPP)
6.1.3 Cast Polypropylene (CPP)
6.1.4 Polyvinyl Chloride (PVC)
6.1.5 Ethylene Vinyl Alcohol (EVOH)
6.1.6 Other Material Types (Polycarbonate, PHA, PLA, Acrylic, and ABS)
6.2 By Product Type
6.2.1 Pouches
6.2.2 Bags
6.2.3 Films and Wraps
6.2.4 Other Product Types (Blister Packs, Liners, etc)
6.3 By End-User Industry
6.3.1 Food
6.3.1.1 Candy & Confectionery
6.3.1.2 Frozen Foods
6.3.1.3 Fresh Produce
6.3.1.4 Dairy Products
6.3.1.5 Dry Foods
6.3.1.6 Meat, Poultry, And Seafood
6.3.1.7 Pet Food
6.3.1.8 Other Food Products (Seasonings & Spices, Spreadables, Sauces, Condiments, etc.)
6.3.2 Beverage
6.3.3 Medical and Pharmaceutical
6.3.4 Personal Care and Household Care
6.3.5 Other End user Industries ( Automotive, Chemical, Agriculture)
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 Amcor PLC
7.1.2 Huhtamaki Oyj
7.1.3 Berry Global Inc.
7.1.4 Thai Artec
7.1.5 TPBI Public Company Limited
7.1.6 Sealed Air Corporation
7.1.7 Mondi Plc
7.1.8 SCG Packaging Public Company Limited
- *List Not Exhaustive
7.2 Heat Map Analysis
8. RECYCLING & SUSTAINABILITY LANDSCAPE
9. FUTURE OUTLOOK
Thailand Flexible Plastic Packaging Industry Segmentation
The study on the Thailand flexible plastic packaging market tracks the demand for flexible plastic packaging by material in terms of revenue. It tracks the market size for respective end-user types. The estimates for the Japan flexible plastic packaging market include all the costs associated with flexible plastic packaging manufacturing, from raw material procurement to end-use industries. The estimates exclude the cost of the content that is or is to be packed inside the flexible plastic packaging. The scope of the flexible plastic packaging market is limited to B2B demand. Market numbers are based on bottom-up and top-down approaches for segmentation, and volume has also been considered.
The Thailand Flexible Plastic Packaging Market Report is Segmented by Material (Polyethene [PE], Bi-Oriented Polypropylene [BOPP], Cast Polypropylene [CPP], Polyvinyl Chloride [PVC], Ethylene Vinyl Alcohol [EVOH], and Other Material Types [Polycarbonate, PHA, PLA, Acrylic, and ABS]), Product Type (Pouches, Bags, Films and Wraps, and Other Product Types), End-User Industry (Food [Frozen Food, Dry Food, Meat, Poultry, and Sea Food, Candy & Confectionery, Pet Food, Dairy Products, Fresh Produce and Other Food (Seasonings & Spices, Spreadables, Sauces, Condiments, etc.)], Beverage, Medical and Pharmaceutical, Personal Care and Household Care, and Other End User Industry [Automotive, Chemical, Agriculture ]). The market sizes and forecasts are provided in terms of volume (tonnes) for all the above segments.
| By Material Type | |
| Polyethene (PE) | |
| Bi-oriented Polypropylene (BOPP) | |
| Cast Polypropylene (CPP) | |
| Polyvinyl Chloride (PVC) | |
| Ethylene Vinyl Alcohol (EVOH) | |
| Other Material Types (Polycarbonate, PHA, PLA, Acrylic, and ABS) |
| By Product Type | |
| Pouches | |
| Bags | |
| Films and Wraps | |
| Other Product Types (Blister Packs, Liners, etc) |
| By End-User Industry | ||||||||||
| ||||||||||
| Beverage | ||||||||||
| Medical and Pharmaceutical | ||||||||||
| Personal Care and Household Care | ||||||||||
| Other End user Industries ( Automotive, Chemical, Agriculture) |
Thailand Flexible Plastic Packaging Market Research FAQs
How big is the Thailand Flexible Plastic Packaging Market?
The Thailand Flexible Plastic Packaging Market size is expected to reach 0.47 million tonnes in 2024 and grow at a CAGR of 7.67% to reach 0.68 million tonnes by 2029.
What is the current Thailand Flexible Plastic Packaging Market size?
In 2024, the Thailand Flexible Plastic Packaging Market size is expected to reach 0.47 million tonnes.
Who are the key players in Thailand Flexible Plastic Packaging Market?
Amcor Plc, Mondi Plc, Huhtamaki Oyj, Sealed Air Corporation and SCG Packaging Public Company Limited are the major companies operating in the Thailand Flexible Plastic Packaging Market.
What years does this Thailand Flexible Plastic Packaging Market cover, and what was the market size in 2023?
In 2023, the Thailand Flexible Plastic Packaging Market size was estimated at 0.43 million tonnes. The report covers the Thailand Flexible Plastic Packaging Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Thailand Flexible Plastic Packaging Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Thailand Flexible Plastic Packaging Industry Report
Statistics for the 2024 Thailand Flexible Plastic Packaging market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Thailand Flexible Plastic Packaging analysis includes a market forecast outlook for 2024 to (2024to2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
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