Please Wait.....
Report
Thailand Folding Carton Packaging Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
Market Report I 2023-01-23 I 107 Pages I Mordor Intelligence
The Thai Folding Carton Packaging Market was valued at USD 2.11 Billion in 2021 and is expected to reach USD 2.97 Billion in 2027, registering a CAGR of 5.74% during the forecast period (2022-2027).
Key Highlights
A folding carton is an eco-friendly packaging solution and a great alternative to plastic because it is cost-effective and adaptable. Most containers use folding cartons and cylinder boards made from the pulp from reprocessed, recycled paper. Food cartons are manufactured from higher quality, lighter solid sulfate boards coated with plastic.
The industries where folding cartons are mostly used include the food and beverage industry, personal care industry, healthcare industry, household care industry, and others. The country is experiencing a significant shift from plastic to the adoption of paper-based packaging, which is expected to generate incremental opportunities for manufacturers in the folding carton packaging market. Since consumers are becoming increasingly aware of the adverse effects of plastic on the environment, manufacturers are capitalizing on this opportunity to innovate in eco-friendly solutions.
Paper-based packaging is being increasingly used for packaging dairy products. The most prevalent type of cardboard used for packaging dairy products is the folding whiteboard carton box. It is suitable for frozen desserts, milk, or butter, as it is coated with wax or plastic, making the paper heat sealable. Liquid cartons are the most common type of paper packaging used for dairy products.
The prices of the raw materials for folding carton packaging are volatile. Manufacturers have to adjust the end price or reduce the cost of operations to maximize profit. Most raw materials, such as chemicals, are derived from crude oil, primarily utilized during manufacturing. The fluctuating price of raw materials is restraining the market growth.
Online shopping is gradually becoming a major mainstream in Thailand, with more consumers preferring it due to its convenience. This shift became even more prevalent during the COVID-19 pandemic, with the strict lockdown and social distancing rules. These factors are expected to drive the folding carton packaging market.
Thailand Folding Carton Packaging Market Trends
Strong Demand Arising from the Sustainability Goals of the E-commerce Sector to Drive the Market
Increased demand for packing boards for online sales, tissue papers, and specialty papers due to the COVID-19 pandemic is likely to promote the growth of the paperboard packaging industry in the country.
Since the beginning of the pandemic, e-commerce sales have grown by more than two years. Meanwhile, the corrugated business is struggling to keep up. Paper mills operate at full capacity, and some producers limit orders and outsource to smaller firms. Consumers are increasingly choosing e-commerce over brick-and-mortar establishments. Thus, the demand is expected to continue to rise.
According to the Electronic Transactions Development Agency (ETDA), the B2B and B2G e-commerce market value in the country significantly increased in 2021, registering a growth of 29.7% and 15.5% Y-o-Y. The strong demand from B2B e-commerce, coupled with the pro-sustainable goals set by the country, is pushing the demand for folding cartons in the country.
As the demand for e-commerce grows, so does the packaging challenge. Sustainable packaging is an unprecedented priority for both brands and consumers. Implementing eco-packages in brand operations is no longer an option but a necessity.
The growing adoption of smartphones in the country directly correlates with the e-commerce value since most citizens prefer online shopping through mobile phones rather than laptops or PCs.
According to a survey conducted by the National Statistical Office (Thailand) in 2021, around 99.9% of respondents aged between 15 to 24 stated that they are using smartphones. Such figures drive the demand for e-commerce shopping, indirectly influencing the growth of folding carton packaging in the country.
Food and Beverages Vertical to Hold the Maximum Market Share
The increase in incomes and increased spending on food by the growing middle-class population in the country has been driving the growth of the food and beverage industry. 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 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, fueling the market's growth.
Additionally, the dairy packaging sector is increasing the demand for folding carton packaging. Liquid cartons are the most common type of paperboard packaging used for dairy products. Milk consumption in the country is likely to increase as consumers actively switch from soft drinks to healthy dairy alternatives.
In recent years, Tetra Pak, a food processing and packaging solutions company, and 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 milk products, such as A2+ and Green Milk, were 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.
TETRA PAK Thailand, a food processing and packaging services company, in collaboration with the Forest Stewardship Council (FSC) and the WWF Thailand, is encouraging Thai consumers to look for the Tetra Pak logo on beverage cartons. The company stated that the consumers would get carton products made from environmentally sound materials - paper sourced from responsibly managed forests that will also support local farming.
Thailand Folding Carton Packaging Market Competitor Analysis
The market is dominated by players such as Sarnti Packaging Co. Ltd, Toppan Printing Co. Ltd, Thai Packaging and Printing Public Company Limited, Bobst, SCG Packaging PCL, and others. However, with technological advancement and product innovation, mid-size to smaller companies are increasing their market presence by securing new contracts and tapping new markets.
May 2022 - Thai Containers Group announced that it would be expanding its fiber packaging capacity by 75,000 metric tons per year in Thailand to fulfill the growing demand as the economy recovered with a commercial start-up in mid-2023.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Consumers
4.2.3 Threat of New Entrants
4.2.4 Threat of Substitutes
4.2.5 Intensity of Competitive Rivalry
4.3 Assessment of Impact of COVID-19 on the Industry
5 MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Strong Demand Arising from the Sustainability Goals of the E-commerce Sector
5.1.2 Increase in Adoption of Folding Carton Packaging by Different Industries
5.2 Market Challenges/Restraints
5.2.1 Fluctuations in the Price of Raw Materials
5.3 Industry Value Chain Analysis
5.4 Trade Scenario Analysis - Import and Export Analysis of Corresponding HS Codes
6 MARKET SEGMENTATION
6.1 End-User
6.1.1 Food and Beverage
6.1.2 Healthcare
6.1.3 Household and Personal Care
6.1.4 Industrial
6.1.5 Other End-Users
7 COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 Siam Toppan Packaging Co. Ltd
7.1.2 Thai Containers Group (SCG Packaging)
7.1.3 Thung Hua Sinn Group
7.1.4 Continental Packaging (Thailand) Co. Ltd
7.1.5 Oji Holdings Corporation
7.1.6 ASA Group Company Limited
7.1.7 Sarnti Packaging Co. Ltd
7.1.8 Thai Cardboard Co. Ltd
7.1.9 S&D Industries Co. Ltd
7.1.10 J.K.CARTONS GROUP CO. LTD
8 INVESTMENT ANALYSIS
9 FUTURE OUTLOOK OF THE MARKET
- Not Sure / Need Reassuring
- Confirm Content
-
Content is provided by our partners and every effort is made to make Market Report details as clear as possible. If you are not sure the exact content you require is included in this study you can Contact us to double check. To do this you can:
Use the ‘? ASK A QUESTION’ below the license / prices and to the right of this box. This will come directly to our team who will work on dealing with your request as soon as possible.
Write to directly on support@scotts-international.com with details. Please include as much information as possible including the name of report or link so our staff will be able to work on you request.
Telephone us directly on 0048 603 394 346 and an experienced member of team will be on hand to answer.
-
- Sample Pages
-
With the vast majority of our partners we can obtain Sample Pages to support your decision. This is something we can arrange without revealing your personal details.
It is important to note that we will not be able to provide you the exact data or statistics such as Market Size and Forecasts. Sample pages usually confirm the layout or the Categories included in Charts and Graphs, excluding specific data.
To ask for Sample Pages by contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Check for Alternatives
-
Whilst we try to make our online platform as easy to use as possible there is always the possibility that a better alternative has not been found in your search.
To avoid this possibility Contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346 and a Senior Team Member can review your requirements and send a list of possibilities with opinions and recommendations.
-
- Confirm Content
- Prices / Formats / Delivery
- Prices
-
All prices are set by our partners and should be exactly the same as those listed on their own websites. We work on a Revenue share basis ensuring that you never pay more than what is offered elsewhere.
Should you find the price cheaper on another platform we recommend you to Contact us as we should be able to match this price. You can Contact us though through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Discounts
-
As we work in close partnership with our Partners from time to time we can secure discounts and assist with negotiations, this is part of our personalised service to you.
Discounts can sometimes be arranged for speedily placed orders; multiple report purchases or Higher License purchases.
To check if a Discount is possible please Contact our experienced team through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Available Currencies
-
Most Market Reports on our platform are listed in USD or EURO based on the wishes of our Partners. To avoid currency fluctuations and potential price differentiations we do not offer the possibility to change the currency online.
Should you wish to pay in a different currency to that advertised online we do accept payments in USD, EURO, GBP and PLN. The price will be calculated based on the relevant exchange rate taken from our National Bank.
To pay in a different above currency to that advertised online please Contact our team and a quotation will be sent within a couple of hours with payment details.
-
- Licenses
-
License options vary from Partner to Partner as is usually based on the number of Users that will benefitting from the report. It is very important that License ordered is not breached as this could have potential negative consequences for you individually or your employer.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Global Site License
-
The Global Site License is the most comprehensive license available. By selecting this license, the Market Report can be shared with other ‘Allowed Users’ and any other member of staff from the same organisation regardless of geographic location.
It is important to note that this may exclude Parent Companies or Subsidiaries.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Formats
-
The most common format is PDF, however in certain circumstances data may be present in Excel format or Online, especially in the case of Database or Directories. In addition, for certain higher license options a CD may also be provided.
If you have questions or need clarification about the specific formats we recommend you to Contact us and a detailed explanation will be provided.
-
- Delivery
-
Delivery is fulfilled by our partners directly. Once an order has been placed we inform the partner by sharing the delivery email details given in the order process.
Delivery is usually made within 24 hours of an order being placed, however it may take longer should your order be placed prior to the weekend or if otherwise specified on the Market Report details page. Additionally, if details have been not fully completed in the Order process a delay in delivery is possible.
If a delay in delivery is expected you will be informed about it immediately.
-
- Shipping Charges
-
As most Market Reports are delivered in PDF format we almost never have to add additional Shipping Charges. If, however you are ordering a Higher License service or a specific delivery format (e.g. CD version) charges may apply.
If you are concerned about additional Shipping Charges we recommend you to Contact us to double check.
-
- Prices
- Ordering
- By Credit Card
-
We work in Partnership with PayU to ensure payments are made securely in a fast and effortless way. PayU is the e-payments division of Naspers.
Naspers operates in over 133 International Markets and ranks 3rd Globally in terms of the number of e-commerce customers served.
For more information on PayU please visit: https://www.payu.pl/en/about-us
-
- By Money Transfer
-
If you require an invoice prior to payment, this is possible. To ensure a speedy delivery of the Market Report we require all relevant company details and you agree to maximum payment terms of 30 days from receipt of order.
With our regular clients deliver of the Market Report can be made prior to receiving payment, however in some circumstances we may ask for payment to be received before arranging for the Market Report to be delivered.
-
- By Credit Card
- Security
- Website security
-
We have specifically partnered with leading International companies to protect your privacy by using different technologies and processes to ensure security.
Everything submitted to Scotts International is encrypted via SSL (Secure Socket Layer) and all personal information provided to Scotts International is stored on computer systems with limited access in controlled environments.
-
- Credit Card Security
-
We partner with PayU (https://www.payu.pl/en/about-us) to ensure all credit card payments are made securely in a fast and effortless way.
PayU offers 250+ various payment channels and eWallet services across 4 continents allowing buyers to pay electronically, whether on a computer or a mobile device.
-
- Website security