A new market study, titled “Discover Global Thailand Flexible Packaging Market Upcoming Trends, Growth Drivers and Challenges” has been featured on WiseGuyReports.
The Thailand flexible packaging market is witnessing a growth and contributing significantly to the economy. The flexible packaging market is expected to register a CAGR of almost 4% in the coming years. This is because of the growing demand of convenient packaging materials that can be used to pack anything. The flexible packaging materials are several and include packaging materials made from plastics, paper and metals. The major components used for making flexible packaging products include foil, paper sheet, laminated paper and also plastics. Flexible packaging materials are the packaging materials that are made from all types of flexible and yielding materials and readily change shape.
Thailand flexible packaging materials can be made in different shapes and at very low costs, one of the major factors that is driving the expansion of this market. These packaging materials can also be easily sealed using zip locks or plastic closures thereby making them the most convenient packaging materials. The closures ensure that no spills occur when anything is packed in these packaging materials.
A major concern for the Thailand flexible packaging market is the fact that the flexible packaging materials are not easily recycled. This is because most flexible packaging occurs in plastic bags and plastic is not biodegradable. This may hinder the growth of the Thailand flexible packaging market. In addition, the competition from biodegradable and recyclable packaging materials may also lead to the slow growth of this market.
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Key Players of Global Thailand Flexible Packaging Market =>
Amcor, Inno Pack, Huhtamaki Group, Prepack Thailand, Pongslip Plastic Company, Siam Flexible Company, Thug Hua Sinn, Sealed Air Co, Toppan Printing Co, and Tetrapak Thailand
The Thailand flexible packaging market is segmented by Packaging Type and Application.
Basis packaging type, the market is further segmented into pouches, bags, wraps, roll stocks, blister and strip packs. Of these, the flexible packaging bags are in great demand because of the ease and convenience with which they can be carried. The bags are demanded by several types of industries like food and beverages and retail industry.
The raw materials used in Thailand flexible packaging include plastics, paper, aluminium foil and multilayer plastics. Of these, plastics are the most demanded in Thailand flexible packaging market. Plastic is highly durable and can easily change shape making it the most wanted material for flexible packaging.
Thailand flexible packaging materials have many applications. These are used in several industries like food and beverage, healthcare, personal and household care and others. The food and beverage industry holds the maximum share in the Thailand flexible packaging market. This is because more people are now becoming the working population in Thailand and carrying packaged food and beverages is increasing the demand of the flexible packaging materials.
Asian flexible packaging market is a wild card in the global plastics industry, estimated to reach a CAGR of 5.7% at US$6.7 billion by 2024. Thailand, driven by growth and higher disposable incomes will rake in higher demand for the Thailand flexible packaging market.
Rising competition and entry of new players in the Thailand flexible packaging market are working to introduce technological innovations to produce more convenient packaging materials at low costs. This has resulted in a competitive flexible packaging market in Thailand.
Thailand flexible packaging market is witnessing a growing trend that will continue in the coming few years. However, the fact that plastics are used for making the flexible packaging material is also a major setback for the growth of the market because plastics are not environment friendly; yet the convenience that flexible packaging materials offer drive their increased demand.
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