Thailand Plastic Caps And Closures Market Size (2024 - 2029)

Thailand Plastic Caps and Closures Market Analysis

The Thailand Plastic Caps And Closures Market size is estimated at USD 2.94 billion in 2024, and is expected to reach USD 3.63 billion by 2029, growing at a CAGR of 4.31% during the forecast period (2024-2029). In terms of shipment volume, the market is expected to grow from 14.81 billion units in 2024 to 17.19 billion units by 2029, at a CAGR of 3.03% during the forecast period (2024-2029).

• Thailand is the second-largest market in the ASEAN region. Demand for new and innovative food and beverage products is propelled by rising incomes among the upper-middle class, urbanization trends, and a growing young population, all contributing to a significant boost in market growth.
• Thailand, a prominent player in the global food and agricultural export landscape, boasts a robust food processing industry that drives the demand for caps and closures. The rising demand for processed food and increased consumer spending on convenience foods in Thailand are critical drivers of growth in the food processing ingredients sector. Given the escalating worldwide appetite for processed foods, Thai processors heavily rely on imports, as some essential raw materials are not locally sourced which significantly augments the market growth in the country.
• Additionally, the growing consumption of bottled water in Thailand due to increasing tourism and the rising demand for clean, uncontaminated water from restaurants, hotels, and entertainment places expands the market for caps and closures. Moreover, the significant growth of Thai food E-commerce has also contributed to the increased consumption of juices, soft drinks, and other beverages.
• Caps and closures play a crucial role in beverage packaging, safeguarding the quality of beverages for consumers. These seals not only ensure product safety but also offer convenient opening and resealing features. Technological advancements in plastic packaging have spurred a wave of product development innovations in the beverage caps and closures industry. In Thailand, a growing number of companies are channeling significant resources into R&D, resulting in a notable uptick in innovative offerings within this sector.
• Yet, the rising environmental apprehensions surrounding plastic packaging waste in Thailand are impeding market growth. The waste generated by these plastic caps and closures not only raises environmental alarms but also poses economic challenges for manufacturers, constituting a significant hurdle to the market's expansion in Thailand.

Thailand Plastic Caps and Closures Industry Segmentation

The scope of the study characterizes the plastic caps and closures market based on the raw material of the product, including PP, PE, PET, and other raw materials used across various end-user industries such as Food, Pharmaceuticals, Beverage, Cosmetics and Toiletries and more across the country. The research also examines underlying growth influencers and significant industry vendors, all of which help to support market estimates and growth rates throughout the anticipated period. The market estimates and projections are based on the base year factors and arrived at top-down and bottom-up approaches.

Thailand Plastic Caps and Closures Market is Segmented by Resin (Polyethylene (PE), Polyethylene Terephthalate (PET), Polypropylene (PP) and Other Plastic Materials), by Product Type (Threaded, Dispensing, Unthreaded, and Child-Resistant), by End-Use Industries (Food, Beverage (Bottled Water, Carbonated Soft Drinks, Alcoholic Beverages, Juices and Energy Drinks and Others), Personal Care and Cosmetics, Household Chemicals, and Other End-Use Industries). The Market Sizing and Forecasts are Provided in Terms of Volume (Units) and Revenue (USD) for all the Above Segments.