Thailand Folding Carton Packaging Market 2022 Scenario of Global Manufacturers – Thai Containers Group (SCG Packaging), Thung Hua Sinn Group, Continental Packaging (Thailand) Co.

Market Insights Reports has added new statistical data to its repository titled as, Thailand Folding Carton Packaging Market. It provides the industry overview with market growth analysis with a historical & futuristic perspective for the following parameters; cost, revenue, demands, and supply data (as applicable). Furthermore, the report also sheds light on technological platforms, in addition to distinctive tools, and methodologies that will help to propel the performance of industries. The Thailand Folding Carton Packaging market report covers the post-COVID-19 impact on various regions and major countries and on the future development of the industry is pointed out.

The Thai folding carton packaging market is expected to register a CAGR of 8.42%, during the forecast period (2021-2026). 

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Top Key Players in the Global Thailand Folding Carton Packaging Market is Siam Toppan Packaging Co. Ltd, Thai Containers Group (SCG Packaging), Thung Hua Sinn Group, Continental Packaging (Thailand) Co. Ltd, Oji Holdings Corporation, ASA Group Company Limited, Sarnti Packaging Co. Ltd, and others. 

Industry News and Update:

- In April 2020, Siam Cement is in the process of buying a Vietnamese packaging materials maker, drawn by the growth of online shopping as Southeast Asia hunkers down to avoid the coronavirus. The size of the deal has yet to be determined but estimated it would be less than 15% of the Thai group’s total assets as of the end of December, which came to TBH 634.7 billion (USD 19.2 million) as per the company.

Key Market Trends:

Food and Beverage Industry in Thailand Driving Demand for Folding Carton Packaging

- The food and beverage industry is the area where companies in the country produce value-added products. The growth of this sector is powered by a huge population (67.79 million people in 2018, and it is expected to increase to 68.26 million by 2024, as per the IMF), rising incomes, and increased spending on food by growing middle-class population. As a result, the growing food and beverage sector is expected to provide significant opportunities for the market studied during the forecast period.
- In the food sector, there is a strong demand for packaged food. As the greater share of the population lives in Bangkok's sprawling suburbs, the demand for convenient packaged food options is growing. Moreover, rapid urbanization has increased the demand for processed foods and ready-to-eat meals in the country. Ready-to-eat meal products are among the top adopters of cartons as the secondary form of packaging.
- Additionally, there is an increasing demand for folding cartons from the dairy packaging sector. Liquid cartons are the most common type of paperboard packaging used for dairy products. The milk consumption in the country is likely to increase, as consumers in the country are actively switching from soft drinks to healthy dairy alternatives. Currently, people in the country drink about 18 liters of milk per head per year (as of 2018), and it is estimated to reach 25 liters per head per year by 2026. This is expected to keep a constant demand for folding cartons from the country's dairy packaging sector, as most of the consumers prefer dairy products for the daily protein requirements.
- In 2019, Tetra Pak, a food processing and packaging solutions company, along with mMilk, launched a tetra top carton bottle for the first time in Thailand. mMilk is well known in the country for its lactose-free milk. The mMilk products, like A2+ and Green Milk, will be sold in Thailand in tetra top carton bottles. Moreover, these carton bottles are recyclable and bear the FSC (Forest Stewardship Council) label, which guarantees that the paper carton comes from responsibly managed forests.

Thailand Folding Carton Packaging Market Segmented by Region/Country: North America, Europe, Asia Pacific, Middle East & Africa, and Central & South America

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This Global Thailand Folding Carton Packaging Market report addresses:

– The Market size from 2016-2021

– Expected market growth until 2026

– Forecast of how market drivers, restraints, and future opportunities will affect

– Segment and regions that will drive or lead the market growth and why

– Comprehensive mapping of the competitive landscape

– In-depth analysis of key sustainability strategies adopted by market place.                              

Frequently Asked Questions about Global Thailand Folding Carton Packaging market:

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