The packaging industry is one of Thailand's fastest-growing sectors. Propelled by the expansion of e-commerce and the transportation industries, the carton and packaging box industry has shown a consistent upward trend. According to analysis, there are 1,190 carton and packaging box manufacturing companies in Thailand, representing 0.15% of all businesses. In 2023, the market size of Thailand's corrugated packaging reached approximately US$ 1.231 billion, marking a year-on-year increase of 2.9%.
Historically, Thailand's corrugated packaging industry has predominantly served the manufacturing sector, playing a vital role in the upstream and downstream supply chains. This industry is essential for the transportation and sale of various manufactured goods. Thailand has long been a leader in manufacturing within Southeast Asia, although its growth has decelerated since 2022. Major sectors of Thailand's manufacturing industry include automobile assembly, electronics, plastics, textiles, food processing, toys, building materials, and petrochemicals, with annual manufacturing exports exceeding US$ 300 billion.
Thailand's logistics industry has also seen robust growth in recent years, particularly with the rise of e-commerce, which has significantly boosted the express delivery sector and, in turn, the corrugated paper products industry. Over the past decade, the logistics sector's contribution to Thailand's GDP has steadily increased.
Following the COVID-19 outbreak, Thai consumers have increasingly turned to online shopping. In 2022, food, personal care, and electronic products dominated Thailand's e-commerce market share. According to analysis, this surge in e-commerce activity has also fueled the growth of the packaging industry. Thailand ranks as the second-largest e-commerce market in Southeast Asia, trailing only behind Indonesia. It hosts over 40 million consumers, with the Thai e-commerce GMV in 2023 expected to grow by more than 10%.
The Thai corrugated paper market is highly fragmented. According to analysis, among the notable local manufacturers are Thai Containers Group (SCG Packaging), Sarnti Packaging Co. Ltd, and Balance Packing Co. Ltd. Additionally, international players like ASA Group Company Limited and Continental Packaging (Thailand) Co. Ltd have significant presence through foreign investments or joint ventures.
With continued economic development, particularly in the manufacturing and e-commerce sectors, the Thai corrugated paper products industry is poised for further growth. According to predictions, the market size of Thailand's corrugated packaging industry is expected to reach US$ 2.68 billion by 2033, growing at a compound annual growth rate (CAGR) of 8.1% from 2024 to 2033.
Topics covered:
- Overview of Thailand's corrugated packaging industry
- Economic environment and policy environment of corrugated packaging in Thailand
- Thailand’s corrugated packaging market size from 2019 to 2023
- Analysis of major Thai corrugated packaging manufacturers
- The main driving forces and market opportunities of Thailand’s corrugated packaging industry
- What are the key drivers, challenges, and opportunities for the Thailand corrugated packaging industry during the forecast period 2024-2033?
- What is the expected revenue of the Thailand corrugated packaging market during the forecast period 2024-2033?
- What strategies are adopted by the key players in the market to increase their market share in the industry?
- Which segment of the Thailand corrugated packaging market is expected to dominate the market in 2033?
- Thailand corrugated packaging market forecast from 2024 to 2033
- What are the main headwinds facing Thailand’s corrugated packaging industry?
Table of Contents
Companies Mentioned
- Far East Packaging Group
- Interpak Industries Pte Ltd.
- Trio Packaging Industrial Pte Ltd.
- Cheng Heng Paper
- Singapore Cartons Pte Ltd.
- Tat Seng Packaging Group Ltd.
Methodology
Background research defines the range of products and industries, which proposes the key points of the research. Proper classification will help clients understand the industry and products in the report.
Secondhand material research is a necessary way to push the project into fast progress. The analyst always chooses the data source carefully. Most secondhand data they quote is sourced from an authority in a specific industry or public data source from governments, industrial associations, etc. For some new or niche fields, they also "double-check" data sources and logics before they show them to clients.
Primary research is the key to solve questions, which largely influence the research outputs. The analyst may use methods like mathematics, logical reasoning, scenario thinking, to confirm key data and make the data credible.
The data model is an important analysis method. Calculating through data models with different factors weights can guarantee the outputs objective.
The analyst optimizes the following methods and steps in executing research projects and also forms many special information gathering and processing methods.
1. Analyze the life cycle of the industry to understand the development phase and space.
2. Grasp the key indexes evaluating the market to position clients in the market and formulate development plans
3. Economic, political, social and cultural factors
4. Competitors like a mirror that reflects the overall market and also market differences.
5. Inside and outside the industry, upstream and downstream of the industry chain, show inner competitions
6. Proper estimation of the future is good guidance for strategic planning.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 80 |
| Published | May 2024 |
| Forecast Period | 2024 - 2033 |
| Estimated Market Value ( USD | $ 1.33 Billion |
| Forecasted Market Value ( USD | $ 2.68 Billion |
| Compound Annual Growth Rate | 8.1% |
| Regions Covered | Thailand |
| No. of Companies Mentioned | 6 |
