Market Trends of Thailand Rigid Plastic Packaging Industry
Polyethylene Terephthalate (PET) Segment is Estimated to Have the Largest Market Share
- Polyethylene Terephthalate (PET) is a durable and versatile polymer widely used in producing bottles, pellets, drums, containers, and various other plastic packaging products. In Thailand, the rising demand for PET packaging is driven by an increasing trend of food and beverage takeaways, a growing urban population, and a surge in international tourism.
- Packaging is crucial in preserving the quality of food and beverages. Polyethylene Terephthalate (PET) stands out as a favored choice for plastic packaging solutions. The demand for PET plastic bottles, trays, and containers is on the rise due to their robustness and exceptional resistance to moisture and chemicals. This versatility boosts the popularity of Polyethylene Terephthalate (PET) for crafting plastic bottles and containers.
- In Thailand, the lightweight and shatter-resistant properties of PET plastics make them ideal for producing bottles and jars, fueling market growth. The personal care and cosmetics sector in Thailand is booming, driven by shifting consumer preferences and a growing inclination toward natural and organic makeup products. As per the Department of International Trade Promotion, the rising exports of Thai beauty and skincare products, coupled with a demand for sustainable and organic offerings, are significantly propelling the rigid plastic packaging market.
- Thailand's surging consumption of bottled water, a key driver for the PET bottle demand, is further bolstered by the rapidly expanding packaging segment. Data from the Beverage Marketing Corporation (BMC) highlights Thailand's stature as one of the top 10 bottled water consumers globally, with consumption figures of 57.4 gallons in 2022 and an estimated 58.2 gallons in 2023.
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Beverage Segment Expected to Dominate the Market
- According to the USDA, Thailand's food and beverage industry plays a pivotal role in bolstering the nation's economy. The surging demand for non-alcoholic beverages, including juices, soft drinks, and bottled water, can be linked to the booming tourism sector and the rising presence of innovative beverages in convenience stores and supermarkets. This trend is driving the demand for rigid plastic packaging solutions. Furthermore, the food retail sector is set to expand, fueled by the growing upper-middle-class incomes, urbanization, and a youthful demographic in Thailand.
- Moreover, Thai consumers are becoming increasingly aware of the environmental impact of their food and beverage packaging choices. There's a notable preference for health-focused, zero-sugar beverages, further intensifying the demand for plastic bottles in the nation. This demand is also buoyed by the influx of tourists seeking non-alcoholic refreshments.
- Data from Pub & Bar Asia (PBA), a platform catering to bar and restaurant owners, highlights that as temperatures rise, so does the inclination of consumers towards refreshing beverages, subsequently boosting the demand for plastic bottles. The Thai beverage landscape is predominantly non-alcoholic, with juices, packaged water, and soft drinks leading the charge, driving market growth.
- USDA data reveals that in 2023, Thailand's food and beverage exports hit USD 48.9 billion, marking a 2.93 percent uptick from the previous year, significantly bolstering the country's rigid plastic packaging market. Additionally, figures from the International Trade Centre (ITC) show that Thailand's exports of non-alcoholic beverages rose from USD 1.52 billion in 2022 to USD 1.55 billion in 2023.
