Trends & Opportunities in the Thai Packaging Industry, Forecast to 2023 - Non-Alcoholic Beverages Industry Expected to Emerge as the Key Growth Driver - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--May 20, 2019--
The “Trends and Opportunities in the Thai Packaging Industry: Analysis of changing packaging trends in the Food, Cosmetics and Toiletries, Beverages and Other Industries” report has been added to ResearchAndMarkets.com’s offering.
Trends & Opportunities in the Thai Packaging Industry brings together multiple data sources to provide a comprehensive overview of the Thai packaging market. It includes market overview, growth analysis by pack material and industry, pack material growth analysis by industry and sector, analysis by pack material, and trends, case studies, and future outlook.
The packaging industry in Thailand is set to witness moderate growth between 2018 and 2023, growing from 61.4 billion units in 2018 to 71.3 billion units by 2023, at a CAGR of 3%. Decline in packaging will be largely influenced by the fall in the demand for tobacco and tobacco products industry.
Apart from tobacco and tobacco products, other industries are expected to perform well, with non-alcoholic beverages industry expected to emerge as the key growth driver for the packaging industry. This growth is primarily due to the increasingly hectic lifestyles of Thai consumers which is driving the growth of small-sized, on-the-go, easy to store/open/close packs in the country. Paper & board is the largest packaging material in the country with a share of 74.6% in 2018, while rigid plastics is forecast to witness the highest CAGR of 5.3% during 2018-2023.
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. In terms of packaging material, rigid plastic is forecast to be the highest market share gainer, with pack share growth of 0.4% during 2018-2023. This is largely due to their lightweight and cost-effectiveness, with extensive usage in sectors such as soft drinks and dairy food. By contrast, paper & board is estimated to lose 0.8% share over the forecast period, due to significant reduction in cigarette consumption, which is affecting the uptake of this pack material.
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Related Topics:Food Packaging,Beverage Packaging
KEYWORD: ASIA PACIFIC THAILAND
INDUSTRY KEYWORD: MANUFACTURING PACKAGING
SOURCE: Research and Markets
Copyright Business Wire 2019.
PUB: 05/20/2019 10:49 AM/DISC: 05/20/2019 10:49 AM