Thailand Flexible Packaging Market Size Study with Top Countries Data, Industry Trends, Growth, Opportunities and Forecast to 2022-2031

The Thai packaging market is expected to register a CAGR of 3.2% during the forecast period (2022 – 2031). The economic growth in Thailand has resulted in the production and consumption of flexible packaging products that have increased steadily over the years. The Thailand flexible packaging market is witnessing growth and contributing significantly to the economy. This is because of the increasing demand for suitable packaging materials that can be used to pack anything.

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– Moreover, the use of plastics as flexible packaging is likely to increase in Thailand in the forecast period. The rise will largely influence the increase in the packaging in demand for tobacco and the tobacco products industry. The cigarette market revenue in Thailand increased from USD 3,179.2 million in 2022 to USD 3,255.2 million in 2022, and it is further expected to boost the flexible packaging market.​

– Apart from tobacco and other tobacco products, other industries are also expected to perform well. The non-alcoholic beverages industry is expected to emerge as a major growth driver for the flexible packaging industry. This growth may be attributed to the hectic lifestyles of Thai consumers that are driving the growth of small-sized, easy to store/open/close packs, and on-the-go packaging in the country. ​

– Recently, the Thai Packaging Association announced that Thailand’s packaging and printing industries are shifting away from plastics and utilizing more bio-flexible products in line with the government’s policy to ban plastic packaging in the future. With the start of 2022, major retailers agreed to stop using plastic bags, a policy that was supposed to be extended to other small and medium-sized enterprises (SMEs) as well. Despite this, the development of e-commerce and delivery business, with the onset of COVID-19 pandemic, has resulted in a surging demand, not just for plastic bags and seals, but other forms of flexible packaging as well. For instance, TPBI, Thailand’s major plastic maker, announced that the company had observed growing revenues from plastic bags and e-commerce packaging since March 2022.

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Key Market Trends

BOPP is Expected to Hold a Significant Share

– The Thai packaging industry is characterized by packages that enhance the functionality of the products through on-the-go packs, sustainable packs, or personalized packs, among others. This trend is boosting the growth of the BOPP market in the region.

– Thailand is one of the most exciting beverage markets in Southeast Asia due to the rising per capita consumption of several beverages. Despite the recent political and economic turmoil, Thailand continues to be one of the most promising global markets for beverages. BOPP/pearl BOPP and single layer BOPP materials are often used for bottle label films.​

– Thailand’s rising incomes are generating optimism about the future among its people, increasing consumer demand for a wide variety of beverages. This is good news for BOPP film manufacturers, as this form of customizable printed packaging is increasing its total market share in the beverage industry year after year. ​

– Amid rising health awareness, the perception of consumers regarding healthy bottled water, RTD tea, energy drinks, and juice has enabled these segments to register steady growth rates. In contrast, carbonated beverages have registered modest growth rates, compared to their brisk growth a few years back.​

Food and Beverages Industry to Drive the Market Growth

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– According to the Thai Plastics Industry Association, the demand for plastic packaging continues to expand in Thailand. Flexible plastic-based projects are expected to witness demand across products and sectors, including beverage, food and water, household, and pharmaceutical sectors. ​The convenience and widespread use of plastic in food packaging is owed to its low cost, ease of processability, formability, chemical resistance, lightweight, and a variety of physical properties.

– PE and PP are the main polymers used for beverages in Thailand. PE’s main market is in large volume juices, milk, and water. PE is also dominant in most medium and small volume beverage markets. Bottled water is presently the second major beverage type, by volume, in the Southeast Asian region, trailing behind carbonated soft drinks.​

– There is a surge in the growth even during the ongoing lockdown caused due to COVID-19. Sales volume has increased 40-50% with gains in exports and domestic sales. In the food packaging category, TPBI saw a 10% increase in sales with the shutdown, pushing many into panic-buying groceries. ​

– Also, Eka Global, a Thai plastic packaging company, reported that it had doubled the production of its longevity flexible packaging to 20 million pieces per month from 8 million pieces per month, due to the increasing demand. ​

Competitive Landscape

The Thai plastics market is partially consolidated in nature. The major companies include Thai Packaging & Printing Public Company Limited, Sarnti Packaging Co. Ltd, Pongslip Plastic Company, and Thug Hua Sinn.

– In February 2022, Toppan Launched Food Packaging System for Freshness Preservation and Lower Environmental Impact. The food packaging system called Green Flat addresses the need to reduce plastic packaging and can be used as an alternative to conventional skin packs.

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