Description
Thailand Corrugated Packaging Industry
Thailand, situated in Southeast Asia, occupies a central position on the Indochina Peninsula. It borders the Gulf of Siam to the south and the Andaman Sea to the west. As of the end of 2023, Thailand’s population has surpassed 70 million. Manufacturing plays a crucial role in the Thai economy, contributing 30% to the GDP and surpassing other major sectors like services and trade. The growth of Thailand’s manufacturing industry has been a key driver for the development of its corrugated paper products industry.
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 CRI 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 CRI 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 CRI 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 CRI 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
1.Overview of Thailand
1.1. Geographical Characteristics
1.2. Demographic Structure
1.3. Economic Overview
1.4. Evolution of Minimum Wage Standards (2014-2024)
1.5. Impact of COVID-19 on the Corrugated Packaging Industry
2.Development Environment of Thailand’s Corrugated Packaging Industry
2.1. Economic Environment
2.1.1. Current State of the Packaging Industry
2.1.2. Analysis of Corrugated Packaging Usage
2.2. Core Technology in Corrugated Packaging
2.3. Policy Framework
2.3.1. Government Policies Affecting the Industry
2.3.2. Foreign Investment Policies
2.4. Operational Cost Analysis
2.4.1. Labor Costs
2.4.2. Electricity Costs
2.4.3. Factory Rent
2.4.4. Raw Material Costs
2.5. Foreign Investment Trends
3.Supply and Demand Dynamics
3.1. Supply Overview
3.1.1. Production Capacity
3.1.2. Output Analysis
3.2. Demand Overview
3.2.1. Consumption Volume and Value
3.2.2. Industry-specific Demand
3.2.2.1. Manufacturing Sector
3.2.2.2. Logistics Sector
3.3. Price Trends (2021-2024)
4. Trade Dynamics (2019-2023)
4.1. Import Overview
4.1.1. Import Volume and Value
4.1.2. Major Import Sources
4.2. Export Overview
4.2.1. Export Volume and Value
4.2.2. Main Export Destinations
5.Market Competition Analysis
5.1. Entry Barriers
5.1.1. Brand Recognition
5.1.2. Quality Standards
5.1.3. Financial Requirements
5.2. Competitive Structure
5.2.1. Supplier Bargaining Power
5.2.2. Consumer Bargaining Power
5.2.3. Industry Competition
5.2.4. Potential Entrants
5.2.5. Alternative Packaging Options
6. Analysis of Major Corrugated Packaging Brands in Thailand
6.1. ASA Group Company Limited
6.2. Thai Containers Group (SCG Packaging)
6.3. Sarnti Packaging Co. Ltd
6.4. Continental Packaging (Thailand) Co. Ltd
6.5. Balance Packing Co. Ltd
6.6. BG Packaging Company Limited
6.7. Tri-Wall Ltd
6.8. C&H Paperbox (Thailand) Co. Ltd
6.9. Hong Thai Packaging Company
6.10. Thai Packaging Industry PCL
Each company’s development history, main products, and business strategies are detailed.
7. Future Outlook (2024-2033)
7.1. Development Factors
7.1.1. Growth Drivers and Opportunities
7.1.2. Industry Challenges
7.2. Supply Forecast
7.3. Market Demand Forecast
7.4. Import and Export Projections
LIST OF CHARTS
Chart: Total Population of Thailand (2013-2023)
Chart: Thailand’s GDP Per Capita (2013-2023)
Chart: Key Policies for the Corrugated Packaging Industry Issued by the Thai Government (2018-2024)
Chart: Total Production of Corrugated Packaging in Thailand (2019-2023)
Chart: Production of Nitrogen, Phosphorus, and Potassium Fertilizers in Thailand (2019-2023)
Chart: Domestic Consumption of Corrugated Paper Packaging in Thailand (2019-2023)
Chart: Import Volume of Corrugated Packaging in Thailand (2019-2023)
Chart: Import Value of Corrugated Packaging in Thailand (2019-2023)
Chart: Importing Countries and Import Amounts of Thailand’s Corrugated Packaging (2019-2023)
Chart: Export Volume of Corrugated Packaging in Thailand (2019-2023)
Chart: Export Value of Corrugated Packaging in Thailand (2019-2023)
Chart: Main Export Destinations for Thailand’s Corrugated Packaging (2019-2023)
Chart: Forecast of Corrugated Packaging Production in Thailand (2024-2033)
Chart: Forecast of Domestic Market Size for Corrugated Packaging in Thailand (2024-2033)
Chart: Forecast of Corrugated Packaging Imports to Thailand (2024-2033)
Chart: Forecast of Corrugated Packaging Exports from Thailand (2024-2033)
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