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Thailand's packaging industry will total $11.1 billion in 2016
Thailand's packaging industry has grown at a compound annual rate of 8.21 percent in recent years, driven by the growth of food exports and the entry of international packaging giants into local markets, according to the Middle East and north Africa business news network. The food and beverage industry has become the main driving force for the growth of the packaging industry in Thailand, and strong export demand and sufficient supply of raw materials have contributed to the growth of the packaging industry in Thailand to some extent.
In the future, the packaging industry in Thailand will keep growing at a compound annual growth rate of 6.41% and reach a total output value of 11.1 billion us dollars in 2016. It can be seen that the growth rate of Thailand's packaging industry in the next four years will be lower than its actual growth rate in the previous five years. This is mainly caused by the slowing market demand for packaging products, and the business performance of Thai packaging enterprises will also decline.
In terms of market segments, Thailand's food and beverage industry will have an increasing demand for active and intelligent packaging, accounting for 76% of the overall packaging market, while the pharmaceutical industry will have a market share of about 10%. At present, the Thai government has promulgated a series of national standards related to the food packaging and labelling industry in order to maximize the integration with international standards.
In the Thai packaging industry, different packaging materials also face different competitive situation, and other neighboring Asian countries have also brought great competitive pressure to the Thai packaging industry.