DMI segments the Thailand Flexible Packaging Market by geography into – Global, North America, South America, Europe, Asia-Pacific (APAC), and Middle East and Africa
Years ago, the major packaging options used were paper, metal, aluminum, and cellophane. With growing innovation and advancement in technology, companies have led to the development of substrates that provide moisture and oxygen barriers, can be printed, and create lightweight packaging that includes clarity, strength, product protection, extended shelf life, and the ability to be resealed and microwaved. To satisfy customer’s needs, products are to be customized with some protection specifications. By protecting products, flexible packaging reduces returned merchandise along with all associated operational and environmental costs. Intelligent sensor film that can warn the consumer when meat and fish are past their freshness dates. With continuous improvements in film barriers for refrigerated foods which can now keep meat fresh for up to 18 days. Smart flexible packaging enables consumers to authenticate products to combat counterfeiting and provides extensive product information. Flexible retort pouch materials that increase shelf life, improve food quality, reduce shipping costs, and reduce cooking time. Films can retain food odors and helps in preventing leaks. Flexible packaging offers several additional sustainability advantages such as lower carbon footprint, reduced energy use, and less waste when disposed of when compared to other package options. Through sterilized, tear-open packages for medication and medical devices has become easy and safe now.
Increasing Focus on environment safety to drive the flexible packaging market:
Growing concerns on environmental protection are raising the demand for eco-friendly packaging techniques. Government initiatives to create awareness among the people about the need to safeguard the environment is encouraging the people to prefer the eco-friendly packages. Raise in the income levels of the people is increasing the spending capacity, which is increasing the sales of the products with eco-friendly packaging despite its higher cost. Hence we can conclude the increasing focus on environmental safety is driving the demand and contributing to the growth of the flexible packaging industry.
Tightening government regulations is hindering the market growth
The Food Act B.E. 2522 (1979) authorized by FDA that controls the domestic production and imports and exports of food products for sale. This act mandates Packaging material specification for all the goods imported or exported. As per the guidelines of the act, the packaging material used for packaging should possess a Good Manufacturing Practice Certificate issued by the government of the country of origin (or HACCP or equivalent ISO quality system certificate, which has been legalized by the Thai embassy in the country of manufacturing). Also, various acts mandating the specifications of the packaging material to preserve the food material from decaying or spoiling and to retain their quality is increasing the overall cost of the product thereby restraining the growth of the market in Thailand. Besides, the constraints on the gross weight of the package while imports or exports are stressing the need for formulating lightweight packages that require the latest technology leading to increase in the overall cost of production, thereby restraining the growth of the market.
The market is fragmented and growing competitive
The Thailand flexible packaging market is fragmented with a large number of regional players in the country. Amcor, Prepack Thailand, Huhtamaki Group, Sealed Air, and Tetra Pak are the major players operating the Thailand market. Diversification of product portfolios through the development of new products is one of the prominent strategies followed by major companies. Key players are also expanding their reign through mergers, acquisitions, expansion, and partnerships. In the flexible packaging industry, companies are not only competing on product quality or product promotion but also focused on strategic moves to acquire greater market share. New Product Launches, expansions, and acquisition are the major strategies adopted by the leading companies in the Thailand flexible packaging industry. The companies are heavily investing in the market to develop new products and are collaborating and acquiring other companies that help in increasing their market share and will also strengthen its product portfolio. Other than the top 3 strategies, innovations and expansion which include R&D expansion and production expansion are the important strategies. Partnerships are one of the most prominent strategies followed by the market leaders in the flexible packaging industry
Thailand Flexible Packaging Market Taxonomy:
By Packaging Form
By Raw Material
Key Market Players
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