Market Trends of Thailand Plastic Bottles Industry
Plastics such as Polyethylene Terephthalate (PET) to Witness Growth
- In recent years, heightened consumer awareness about the environmental benefits of eco-friendly packaging has propelled the adoption of sustainable packaging solutions. Because of its recyclability and potential for circularity, PET has become an essential resin for eco-friendly packaging materials. Collecting, processing, and converting used PET products into new packaging materials is a significant opportunity to lessen reliance on virgin resources and reduce environmental waste.
- In September 2023, Indorama Ventures Public Company Limited, a global player in sustainable chemicals, announced its milestone achievement of recycling 100 billion post-consumer PET bottles since February 2011. This monumental effort has successfully diverted 2.1 million tons of waste from landfills and has curbed the carbon footprint by 2.9 million tons throughout the product lifecycles. By transforming post-consumer PET bottles into new ones, the company is not just recycling but assigning economic value to waste. This initiative bolsters waste collection systems, reducing waste and a cleaner environment.
- EcoBlue, a recycler of polyolefin and polyethylene terephthalate (PET) located in Rayong, Thailand, has taken a significant step toward sustainable packaging by bolstering its PET recycling capacity. Recently, EcoBlue has added its second Starlinger viscose solid-state polycondensation (SSP) machine, a pivotal upgrade that facilitates the production of food-grade polyethylene terephthalate (PET). With the commissioning of this cutting-edge technology in December 2023, EcoBlue's annual capacity has surged to an impressive 30,000 tonnes of food-grade recycled PET (rPET).
- PET is a preferred raw material across various industries. Its chemical resistance, favorable strength-to-weight ratio, shatterproof nature, and cost-effectiveness make it a go-to choice for packaging consumable products. PET packaging manufacturing consumes less energy and natural resources than glass packaging, including fossil fuels and water.
- According to the Ministry of Industry (Thailand) and Office of Industrial Economics (Thailand), the shipment index of plastics in Thailand in Q3 2023 was 92.69, reaching 99.54 in Q1 2024. Furthermore, plastic materials such as PET's moldability at a lower cost than glass allow brands to craft distinctive packaging designs. This versatility aids in promoting a range of products, from water and carbonated soft drinks to others, ensuring they catch the consumer's eye on store shelves.
Understand The Key Trends Shaping This Market
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Beverage Segment Set for Robust Growth
- Lightweight packaging material is essential for beverage packaging, such as bottles. The improving designs of bottles have led to increased applications, attracting more consumers to purchase nutraceuticals, fruit drinks, meal replacement shakes, fiber supplements, and cold-pressed juices.
- Ready-to-drink beverages and packaged juices became popular due to their portability, hygiene, and superior quality. Plastic bottles have become prevalent for all ages and have been the primary packaging solution for a few years. Also, significant companies are focused on providing a range of beverages in Thailand.
- Coca-Cola (Thailand) Ltd, in partnership with ThaiNamthip Corporation Limited, has made significant strides. Following the debut of 1-l bottles crafted from recycled PET plastic in October 2023, Coca-Cola, under its 'World Without Waste' initiative, has rolled out 300 ml bottles of Coca-Cola Original Taste and Coca-Cola Zero Sugar. With the launch of 1 l and 300 ml Coca-Cola bottles made entirely from recycled PET, the company aims to eliminate over 1,300 tonnes of new plastic usage in Thailand in 2024. Such innovations by beverage companies are expected to fuel market growth.
- According to the Office of Industrial Economics (Thailand), the production volume of carbonated beverages in October 2023 was 242.61 million liters. Thai consumers enjoy an expanded array of beverage choices, particularly in the carbonated soft drinks (CSD) category. Given Thailand's consistently warm and humid tropical climate, CSDs have become the go-to refreshment for many locals on the move. Such a rise in the consumption of carbonated beverages is expected to fuel market growth.
- Changing consumer preferences and evolving beverage consumption patterns fuel the demand for non-alcoholic drinks. As health and wellness take center stage, consumers are looking for diverse, healthier, non-alcoholic options. In Thailand, non-alcoholic beverages encompass the production, distribution, and consumption of alcohol-free beverages. This market features carbonated soft drinks, juices, energy drinks, bottled water, ready-to-drink teas, and functional beverages. Catering to a wide array of consumer preferences, non-alcoholic drinks appeal to individuals across all age groups.
