Thailand Flexible Plastic Packaging Market Size (2024 - 2029)

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 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.